1.
Core RTR Topics
Accounting Basics and Standards
Understanding journal entries and accounting principles.
Key concepts: accruals, prepayments, provisions, reserves.
Financial statements: P&L, balance sheet, and cash flow.
Bank Reconciliation
Reconciliation process and common discrepancies.
Handling unrecorded transactions, such as bank charges or interest.
Automation tools like Yardi, SAP, or Excel.
Month-End Close Activities
Pre-close and post-close processes.
Posting recurring and adjusting journal entries.
Handling intercompany transactions and reconciliation.
Balance Sheet Reconciliation
Investigating and resolving out-of-balances.
Reconciliation templates and best practices.
Handling suspense accounts and correcting errors.
Fixed Asset Accounting
Depreciation methods and postings.
Capitalization vs. expense classification.
Retirements, disposals, and revaluations.
Variance Analysis
Identifying variances between actual and budgeted figures.
Preparing commentary for management reports.
Accruals and Provisions
Calculating and recording accruals.
Differences between accruals and provisions.
Understanding contingent liabilities.
FX Revaluation
Revaluing foreign currency balances.
Posting exchange rate differences.
2. RTR Tools and Software
ERP Systems: SAP (FI/CO), Oracle, Yardi.
Excel: Advanced formulas, pivot tables, VLOOKUP, HLOOKUP, macros for
automation.
Reconciliation Tools: BlackLine or in-house reconciliation modules.
Visualization Tools: Tableau or Power BI (for reports).
3. Advanced Concepts
Intercompany Accounting
o Transactions, eliminations, and reconciliations.
o Multi-currency handling.
Books Closure
o Trial balance review and adjustments.
o Generating final financial reports.
3-Way Matching
o Invoice, purchase order, and goods receipt reconciliation.
Revenue Recognition
o Understanding ASC 606 / IFRS 15 principles.
4. Practical Exercises
Mock Scenarios: Prepare case studies for tasks like bank reconciliation or variance
analysis.
Excel Exercises: Practice creating templates for reconciliations and automated
reports.
Simulations: Use sample data in ERP systems to simulate month-end processes.
5. Problem-Solving Skills
Analytical skills for investigating out-of-balance items.
Communication skills for explaining variances or unresolved issues to stakeholders.
Workflow prioritization during month-end crunch periods.
6. Interview Focus Areas
Share your experience in solving real-world issues.
Showcase technical skills in reconciliations and ERP systems.
Be prepared for scenario-based questions (e.g., resolving an intercompany mismatch).
Accounting Basics and Standards
Accounting Basics and Standards
1. Basics of Accounting
Accounting Principles
o GAAP (Generally Accepted Accounting Principles).
o IFRS (International Financial Reporting Standards).
o Fundamental principles: accrual basis, matching principle, and going concern.
Double-Entry System
o Debit and credit rules.
o Normal balances for assets, liabilities, equity, revenue, and expenses.
Chart of Accounts
o Structure and hierarchy.
o Common account classifications.
2. Journal Entries
Core Entries
o Revenue recognition.
o Expense recognition.
o Adjusting entries for accruals and deferrals.
Adjusting Journal Entries
o Prepaid expenses and unearned revenue.
o Accrued expenses and accrued revenue.
Special Journal Entries
o Depreciation and amortization.
o Provision for doubtful debts.
o Inventory adjustments.
Complex Entries
o Intercompany transactions.
o FX revaluation journal entries.
o Correcting errors (rectification entries).
3. Key Accounting Concepts
Accruals
o Definition and examples (e.g., accrued interest, wages).
o Journal entries: recording accruals and reversing them.
Prepayments
o Definition and types (e.g., rent, insurance).
o Journal entries: initial recording and amortization.
Provisions
o When to create provisions (e.g., for bad debts, legal cases).
o Journal entries: provision creation and utilization.
Reserves
o Types: general reserve, capital reserve, revaluation reserve.
o Journal entries: creation and adjustment of reserves.
4. Financial Statements
Profit & Loss Statement (P&L)
o Format and components: revenues, expenses, and net profit.
o Impact of accruals, prepayments, provisions, and reserves.
o Journal entries affecting the P&L (e.g., depreciation, accrued revenue).
Balance Sheet
o Format: assets, liabilities, and equity.
o Classification: current and non-current.
o How journal entries reflect on the balance sheet (e.g., provisions in liabilities).
Cash Flow Statement
o Direct vs. indirect methods.
o Reconciling net profit to cash from operations.
o Impact of journal entries on cash flow (e.g., non-cash expenses).
5. Real-World Applications
Case studies to practice preparing journal entries for real-world transactions.
Examples of how journal entries feed into financial statements.
Common errors and how to avoid them (e.g., missing accruals, incorrect
classifications).
6. Practice and Assessment
Practical Exercises
o Prepare journal entries for hypothetical scenarios (e.g., prepaid rent, accrued
salaries).
o Create sample P&L and balance sheets from journal entries.
Mock Tests
o Solving multiple-choice questions on accounting principles.
o Preparing adjusting journal entries for given scenarios.
Simulations
o Simulate closing books and preparing financial statements using Excel or ERP
software.
Bank Rco
