Interview Questions

ERS is a business process between trading partners that conduct commerce without invoices. In an ERS transaction the supplier ships goods based upon an Advance Shipping Notice (ASN) and the purchaser upon receipt confirms the existence of a corresponding purchase order or contract verifies the identity and quantity of the goods and then pays the supplier.

IDD is the Integrated Data Dictionary. It contains information about the elements, record types, sets, maps and dialogues within the database.

Enumeration is twice as fast as compared to an Iterator and uses very less memory. However, the Iterator is much safer compared to Enumeration, because other threads are not able to modify the collection object that is currently traversed by the iterator. Also, Iteratorsallow the caller to remove elements from the underlying collection, something which is not possible with Enumerations.

A mischarge correction is when the wrong account line was used or the wrong amount was entered. The account that was wrongly charged needs to be credited and the correct account needs to be debited. The information needs to be recorded and duly noted for your office and for the main office. A journal voucher, showing the correction, should be completed as soon as possible. The accountswill not balance at the end of the fiscal year if these corrections are not properly made.

Accounts payable process is required in a company because this will help and guide the accountant to manage their payables with in the normal course of the business.

This includes verifying and checking the invoice details including the credit terms, due date, mode of payment, payee and the items received. Only the items received will be paid. Incase theres a discrepancy against the actual receipts, a credit note will be raised by the supplier against the short-shipped invoice.

At the end of the month, AP reconcilition is required confirming both parties balances thru the statement of accounts (SOA). This you can identify which invoices or payment hasnt been booked yet by both parties and you will end up with the same balances, (equal balance from your company and with their company).

Tips :

In order to achieve the commitment, leaders have to request and convince the team to set goals and put them into the process. The cooperative spirit and solidarity for goal achievement are created by the leaders. The team is led into the implementing period as quickly as possible. The argument and ideas from all stakeholders need to be praised. In order to have a success and brilliant commitment, they must express their passionate personal commitment and boost a useful cultivation by highly evaluating individuals’ value and their contributions.

As the name itself implies, it have to depend on other class only.