R2R Manager Interview Questions and Answers

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

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

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

I adapted processes to enhance efficiency, meet regulatory changes, and improve team collaboration over the years.

• Identified inefficiencies in the existing process, leading to a 20% reduction in processing time.

• Responded to regulatory changes, such as new compliance requirements, by updating workflows to ensure adherence.

• Implemented technology upgrades, like automation tools, which streamlined repetitive tasks and reduced errors.

• Gathered feedback from team members regularly, ...read more

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

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

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.