Tuesday, 10 October 2017

Accenture,Genpact & Cognizant - Best 'General Ledger Interview Questions & Answers'

Accenture,Genpact R2R, General Accounting Interview Questions.

Hi friends today I would like to share about General ledger accountant interview questions,Accenture,Genpact andCognizant,Latest, Top, Free, Best General Ledger Interview Questions  R2R, General Accounting Interview Questions


1. Explain What is accrual accounting?

The basis of "accrual accounting means" that event costs or revenues are recognized in the period in which they occur, although cash flows may take place in another accounting period.

As for a period from 05 July to 05 October, if the organization was to receive 1000K of an individual X but has not yet received for some reason, it will receive in November 05. It will still be counted in the period of 05 July - October 5th and not the period starting November 5th.

2. What experience do you have with the General Ledger?

Experience in making all cash and non-cash transactions, cash and credit purchase and sale.

3.What is the difference between the general ledger and the general ledger?

The general ledger means that these general books generally use all types of professional organizations. For example: purchases, sales, printing and stationary, etc. ... Ledger means that what book is created for the requirement of commercial organization.

4.What is General Ledger ?

A general ledger is a comprehensive record of financial transactions over the life of a business. The general ledger holds account information for the preparation of the financial statements and includes the accounts of assets, liabilities, equity, income and expenses

5. Do you know what a general account is?

A general account account is an account or record used to sort and store transactions on the balance sheet and income statement.
Examples of general ledger accounts include:
Asset accounts such as cash, accounts receivable, inventory, investments, land and equipment.

6. What steps would you take before approving a payment bill as a ledger?

This question measures your understanding of the process of verifying the bills, so be sure to have it checked before going to the interview. Such a typical process should involve checking whether the products received are satisfactory, recorded in the book. Another thing, it is also good to describe the importance of each step for interviewers.

7. Why do you want to work with us as a general ledger?

More likely than not, the interviewer wants to know how much you know the corporate culture and if you can identify yourself with the values and vision of the organization. Each organization has its strengths and these are the ones you should emphasize in your answer.

8.Tell me what are the goals of maintenance of control books?

The aims of the maintenance of control books are as follows:
☛ Various accounts receivable
☛ Miscellaneous creditors
☛ Advances to staff

9.List a few steps to balance the ledger account?

This involves the following steps:
☛ The first total of both sides is taken.
☛ The second difference between the totals on both sides is calculated.
☛ If the debtor's side exceeds the credit side, place the difference on the credit side by writing Balance c / fd.
☛ If the total on the credit side exceeds the debit side, set the difference on the debtor side by writing to Balance c / fd.
☛ After setting the difference on the appropriate side, make sure that the totals on both sides are equal.

10. List a few steps in the general ledger approach?

The general ledger conciliation concept may also refer to the review of the general ledger as a whole to ensure that all accounts are aggregated into the financial statements. This reconciliation process involves the following steps:
☛ Summarize the ending balances in all income accounts and verify that the total amount corresponds to the total income in the income statement.
☛ Summarize the ending balances in all expense accounts and verify that the total amount corresponds to the total expenditure in the income statement. This can be done at the line item level of individual expenses in the income statement.
☛ Summarize all assets, liabilities and equity accounts and verify that the aggregate amounts correspond to the respective line items in the balance sheet.

11.  How to reconcile a general ledger?

The General Ledger is the primary set of accounts that groups all transactions registered for a business. When a person reconciles the general ledger, it usually means that the individual accounts of the general ledger are being reviewed to ensure that the source documents match the balances shown in each account. The reconciliation process is a common activity just prior to the arrival of the auditors for the annual audit to ensure that the statements are in a state of conservation.

12. List a few steps for the reconciliation process at the account level?

The reconciliation process at the account level generally includes the following steps:
☛Introduction of the initial balance sheet. Match the initial balance to the final reconciliation account of the previous period. If the amounts do not match, investigate the reason for the variance in the previous period. If the account has not been reconciled for a certain period of time, the error may occur several times in the past.
☛ Short-term information. Match the transactions reported in the account during the period to the underlying transactions and adjust if necessary.
☛Reviews of additions. Examine all the adjustment log entries stored in the account in the period for relevance, and adjust if necessary.
☛Revised results. Make sure that all journal entries that should have been reversed during the period have been reversed.
☛Ending balance review. Verify that the account end detail is the final account balance.

13. What does Ledger posting mean?

All commercial transactions are recorded for the first time in newspapers or subsidiary journals in chronological order when they actually occur, and from there, transactions of a similar nature are transferred to Ledger and this transfer process is called Ledger posting

14. What qualities do you have that can make you a good accountant in the general ledger?

Aside from obvious aspects such as numeracy and interpersonal skills, key skills will include determination and self-discipline (to get through tough job exams) and an interest in the business world in general. An ability to work (and ultimately lead) teams, strong analytical skills, good verbal and written communication skills and curiosity (especially on the verification side) are just a few of the others you might mention, if you are not strong in some of these areas then you might have problems making yourself a convincing deal.

15. Do you explain what the Future Period and the Adjustment Period are?

Future period means that in oracle not yet open, you can not publish entry in this period, U may have two future periods or one displayed in the calendar options, adjustment period means, normally the company may have 12 month, or 13 months depending on the age. If you have 13 months, from January to December, it is 12 months, an additional month, that is to say one death, for example, from 25 to 31 December. So we have 13 months, 5 additional days called adjustment period, which is used to enter additional entries. Verification Time, if your decrement period is closed, you may still have a 5-day period for the input adjustment entries provided by the auditors.