Genpact Accountant Interview Questions and Answers

An accountant's main role is to manage financial records, ensure compliance, and provide insights for informed decision-making.

• Maintain accurate financial records, such as ledgers and journals.

• Prepare financial statements like balance sheets and income statements.

• Ensure compliance with tax regulations and financial reporting standards.

• Analyze financial data to identify trends and provide strategic recommendations.

• Assis...read more

I seek new challenges and opportunities for growth that my previous company couldn't provide, despite my appreciation for the experience gained.

• Desire for professional growth: I want to expand my skills in a more dynamic environment.

• Limited advancement opportunities: My previous role had a clear ceiling for promotions.

• Seeking a better cultural fit: I believe in aligning with a company's values and mission.

• Interest in n...read more

Bad debt refers to money owed to a company that is unlikely to be paid by the debtor.

• Bad debt is a financial loss for the company.

• It is usually the result of customers who are unable or unwilling to pay their debts.

• Companies often have to write off bad debts as uncollectible.

• Bad debt can negatively impact a company's financial statements and cash flow.

• Examples include unpaid invoices, defaulted loans, and overdue payme...read more

Accounts refer to financial records that track the financial activities of a business or individual.

• Accounts are used to record transactions such as income, expenses, assets, and liabilities.

• They help in analyzing the financial health of an entity and making informed decisions.

• Examples of accounts include cash account, accounts receivable, accounts payable, and equity accounts.

I am a detail-oriented accountant with 5 years of experience in financial analysis and reporting.

• I have a Bachelor's degree in Accounting from XYZ University.

• I am proficient in using accounting software such as QuickBooks and SAP.

• I have experience preparing financial statements and conducting audits.

• I have strong analytical skills and attention to detail.

• I am a team player and can effectively communicate financial info...read more

I was responsible for preparing financial statements, analyzing budgets, and ensuring compliance with regulations.

• Prepared monthly financial statements for review by management

• Analyzed budget variances and provided recommendations for cost savings

• Ensured compliance with GAAP and regulatory requirements

• Collaborated with auditors during annual audits

• Implemented new accounting software to streamline processes

Reserve is set aside for specific purposes, while provision is set aside for potential future expenses.

• Reserve is a part of profits retained by a company for specific purposes, such as expansion or dividends.

• Provision is an amount set aside to cover a probable future expense, such as bad debts or legal claims.

• Reserve is not a liability, while provision is a liability on the balance sheet.

• Reserve is voluntary, while pro...read more

Tangible assets are physical assets that can be touched and seen, while intangible assets are non-physical assets like intellectual property or brand recognition.

• Tangible assets have a physical form, such as buildings, machinery, or inventory.

• Intangible assets lack physical substance, such as patents, trademarks, or goodwill.

• Tangible assets are typically easier to value and sell compared to intangible assets.

• Intangible...read more