Interview questions for Deloitte Tax Consultant-1
Accounting and Taxation Concepts:
- What is accrual accounting?
- Explain deferred tax liability.
- What is the journal entry for prepaid expenses?
- What is the rate of depreciation on intangible assets?
- What is ratio analysis?
- What is the difference between accounting and audit?
- What do you know about US Taxation?
- What is depreciation? Explain the different methods of depreciation.
- What are the 5 heads of income?
- What is accrued interest?
- Cost accounting vs. managerial accounting.
- What is capital expenditure?
- Explain the difference between leadership and management.
- Items to add in the balance sheet right after the trial balance.
- What is a ledger?
- Explain the Indian taxation system.
- Questions about financial statement analysis and ratios.
- Journal entries for different taxations.
- What is EBITDA?
- Questions about deferred tax and its impact on financial statements.
- What is the difference between prepayments and accrued expenses?
- Balance sheet items explanation.
- Explain the 1040 tax return.
- Questions about profit and loss statements.
- Difference between fictitious assets and real assets.
- What is variance analysis?
- Basic accounting questions, including financial statement analysis and journal entries.
- Questions on financial ratios, depreciation, and accrual accounting.
- Scenarios involving balance sheet items and profit & loss statements.
- Questions about financial accounting principles, including journal entries and balance sheets.
- Questions on depreciation, provisions, fictitious assets, and ledger management.
- Scenarios related to tax accounting and financial analysis.
- Questions on different types of taxes (direct and indirect).
- Case studies involving tax laws and their applications.
- Practical scenarios involving tax computation and compliance.
Excel Proficiency:
- Explain how you would use Excel to solve a problem.
- Questions related to Excel formulas and functions.
- Practical questions involving Excel for financial analysis.
- How do you handle large datasets in Excel?
Specific Tax-Related Questions:
- What is direct tax vs. indirect tax?
- Explain depreciation in detail.
- How do you manage tax compliance in different jurisdictions?
General Self-Reflection and Personality:
- Tell me about yourself.
- Tell me something about yourself not mentioned in your resume.
- Tell me something other than what’s on your resume.
- What are three words you would like to be associated with?
- What is your family background?
- Can you share your family background?
- Why should we hire you?
- Why do you want to work at Deloitte?
- Why are you looking for a change?
- Where do you see yourself in 5 years?
- What are your strengths and weaknesses?
Handling Stress and Work Pressure:
- How do you handle stress and tight deadlines?
- How will you handle work pressure in the organization?
- How would you deal if you are given two tasks with the same deadline? Would you silently accept it, speak about it, or complain?
Teamwork and Leadership
- What is Leadership to you?
- What is the difference between a Manager and a Leader?
- Describe a challenging project you worked on and how you managed it.
- Suppose you are part of a team with 3 members, and you are assigned a task…
Situational and Decision-Making
- How do you manage multiple busy periods?
- How would you handle a specific work scenario (e.g., a hypothetical situation question in one-on-one rounds)?
- How do you handle difficult situations faced, and how did you overcome them?
- Share an example of how you handled a conflict in a team.
Motivation and Career Aspirations
- Why did you choose accounting?
- Why did you pursue your degree (e.g., MBA)?
- What motivated you to apply for this role at Deloitte?
Behavioral and Soft Skills
- How good are you at handling pressure?
- How do you prioritize tasks during a busy period?
- Can you share an experience where you demonstrated leadership?
- What are your hobbies, and how do they help you unwind and stay balanced?
Commitment and Stability:
- How do you plan to stay with the company for the long term?
- What are your long-term career goals?
Situational and Problem-Solving Questions:
- How would you handle a situation with two tasks having the same deadline?
- Explain a time when you had to solve a difficult financial problem.
- Describe your approach to managing workload during a busy period.