R2R Manager

R2R Manager Interview Questions and Answers

Updated 19 Jan 2025

Q1. What are current assets and current liabilities in relation to cash flow?

Ans.

Current assets are assets that can be easily converted into cash within a year, while current liabilities are debts that are due within a year. They both impact cash flow.

Current assets include cash, accounts receivable, and inventory.
Current liabilities include accounts payable, short-term loans, and accrued expenses.
Having high current assets relative to current liabilities indicates good liquidity and positive cash flow.
Conversely, having high current liabilities relative ...read more

Q2. What are the depreciation rates according to the Companies Act and tax regulations?

Ans.

Depreciation rates vary according to the Companies Act and tax regulations.

Depreciation rates are determined by the useful life of the asset
Companies Act may specify different rates for different types of assets
Tax regulations may allow for accelerated depreciation for tax purposes
Depreciation rates can also be influenced by accounting standards such as IFRS or GAAP

Q3. What is the process for setting up a master data set?

Ans.

Setting up a master data set involves identifying data sources, cleansing data, defining data attributes, and establishing data governance.

Identify all relevant data sources that will be included in the master data set
Cleanse the data to ensure accuracy and consistency
Define data attributes such as data types, formats, and relationships
Establish data governance policies and procedures to maintain data quality and integrity

Q4. What are the various accounting standards?

Ans.

Various accounting standards include GAAP, IFRS, and ASPE.

Generally Accepted Accounting Principles (GAAP) - used in the United States
International Financial Reporting Standards (IFRS) - used internationally
Accounting Standards for Private Enterprises (ASPE) - used in Canada
Other standards include US GAAP, UK GAAP, and Indian GAAP

Are these interview questions helpful?

Q5. What does S/4 HANA implementation involve?

Ans.

S/4 HANA implementation involves migrating business processes to SAP's latest ERP system for improved efficiency and real-time analytics.

Data migration from legacy systems to S/4 HANA
Business process reengineering to align with S/4 HANA functionalities
Customization and configuration of S/4 HANA modules
Training employees on using the new system effectively
Testing and validation of the implemented solution

Q6. Could you explain one standard along with an example?

Ans.

One standard in accounting is GAAP, which ensures consistency and transparency in financial reporting.

GAAP stands for Generally Accepted Accounting Principles
It provides a framework for financial reporting that ensures consistency and transparency
An example of GAAP is the requirement to use accrual accounting method to recognize revenue when it is earned, rather than when cash is received

Share interview questions and help millions of jobseekers 🌟

Q7. What are golden rules of accounting with examples

Ans.

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

The Golden Rule of Debit and Credit: For every debit entry, there must be a corresponding credit entry.
The Golden Rule of Real Accounts: Debit what comes in, credit what goes out.
The Golden Rule of Personal Accounts: Debit the receiver, credit the giver.
The Golden Rule of Nominal Accounts: Debit all expenses and losses, credit all incomes and gains.