Ernst Young Financial Associate Interview Questions & Experience Guide

Interview Preparation
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Ernst Young Financial Associate Interview Questions & Experience Guide

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Company Name: Ernst & Young

Position: Financial Associate

Location: [Not specified]

Application Process: Applied via Naukri.com before October 2022.

Interview Rounds:

  • Round 1 - Resume Shortlist:

  • Questions Asked: N/A (Resume screening)

  • Your Approach: Ensured the resume was concise and highlighted relevant skills.

  • Outcome: Passed to the next round.

  • Round 2 - HR Round:

  • Questions Asked:

    • Related to previous experience.

  • Your Approach: Answered confidently, linking past experience to the role.

  • Outcome: Advanced to the next round.

  • Round 3 - Aptitude Test Round:

  • Questions Asked: Advanced Excel, basic accounting, and finance questions.

  • Your Approach: Prepared by revising Excel functions and accounting fundamentals.

  • Outcome: Cleared the round.

  • Round 4 - Technical Round:

  • Questions Asked:

    • Accounting and finance questions.

  • Your Approach: Answered with clarity and asked counter questions to resolve doubts.

  • Outcome: Successfully cleared the round.

Preparation Tips:

  • Be confident and ask counter questions to clarify doubts during the interview.
  • Focus on Advanced Excel, accounting, and finance fundamentals.

Conclusion:
The interview process was smooth, and confidence played a key role in clearing the rounds. Preparing well for technical aspects like Excel and accounting helped. Future candidates should focus on these areas and practice answering confidently.

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Company Name: Ernst & Young (EY)

Position: Financial Associate

Location: [Not specified]

Application Process: I applied through the company website and was interviewed in April 2024.

Interview Rounds:

  • Round 1 - One-on-one Round:
    • Questions Asked:
      1. About your educational background.
      2. About your family, address, and other personal details.
      3. About KPMG and the role of an FTS Analyst (related topics).
      4. Why do you want to join KPMG?
      5. Any plans for leave in the next 6 months?
    • Your Approach: I answered honestly and confidently, ensuring I highlighted my educational qualifications and how they align with the role. For the KPMG-related question, I researched the company beforehand and spoke about its values and how they resonate with my career goals.
    • Outcome: [Result not specified]

Preparation Tips:

  • Research the company thoroughly, including its values, recent projects, and the specific role you’re applying for.
  • Be prepared to discuss your educational background and personal details confidently.
  • Practice answering common interview questions like “Why do you want to join this company?” to articulate your thoughts clearly.

Conclusion:
The interview was a good learning experience. I felt prepared for most questions, but I could have been more detailed in explaining my interest in the role. For future candidates, I’d advise thorough research and practicing answers to common questions to build confidence.

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Company Name: Ernst & Young

Position: Financial Associate

Location: [Not specified]

Application Process: I applied via a walk-in and was interviewed before July 2023.

Interview Rounds:

  • Round 1 - Aptitude Test:

    • Questions Asked: Basic aptitude questions.
    • Your Approach: I reviewed fundamental aptitude topics like quantitative reasoning, logical reasoning, and basic accounting principles beforehand.
    • Outcome: Cleared the round successfully.

  • Round 2 - Technical Round:

    • Questions Asked:
      1. Introduce yourself.
      2. Journal entries.
      3. Treatment of entries in P&L and balance sheet.
    • Your Approach: For the introduction, I kept it concise and focused on my academic background and relevant skills. For the technical questions, I explained journal entries with examples and clarified how entries are treated in P&L and balance sheet.
    • Outcome: The interview went well, and I received positive feedback.

Preparation Tips:

  • Brush up on basic accounting concepts like journal entries, P&L, and balance sheet treatments.
  • Practice aptitude questions to improve speed and accuracy.
  • Be clear and concise while introducing yourself, highlighting relevant skills and experiences.

Conclusion:
Overall, the interview process was smooth, and the questions were aligned with the role’s requirements. Focusing on fundamentals and staying confident during the interview helped me perform well. For future candidates, I’d recommend thorough preparation of accounting basics and practicing aptitude tests.

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Company Name: Ernst & Young

Position: Financial Associate

Location: Not specified

Application Process: I applied for the position before May 2023, though the exact method (campus placement, online application, or referral) wasn’t specified.

Interview Rounds:

  • Round 1 - HR Round:

    • Questions Asked:
      • Accounting-related questions.
    • Your Approach: I prepared by revising core accounting concepts and ensured I could explain them clearly.
    • Outcome: Successfully cleared this round.

  • Round 2 - Technical Round:

    • Questions Asked:
      • Questions about accounting and my previous work experience.
    • Your Approach: I highlighted my relevant work experience and linked it to the role’s requirements. I also brushed up on practical accounting scenarios.
    • Outcome: Advanced to the next round.

  • Round 3 - One-on-One Round:

    • Questions Asked:
      • This was a senior manager round, focusing on fit and deeper technical knowledge.
    • Your Approach: I focused on aligning my skills with the company’s expectations and demonstrated my problem-solving abilities.
    • Outcome: Cleared this round successfully.

Preparation Tips:

  • Revise core accounting principles thoroughly.
  • Be ready to discuss your previous work experience in detail.
  • Practice explaining technical concepts in simple terms.

Conclusion:
Overall, the interview process was smooth and well-structured. I felt prepared, but I could have practiced more situational questions to handle unexpected queries better. For future candidates, I’d recommend focusing on both technical knowledge and clear communication.

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Company Name: Ernst & Young

Position: Financial Associate

Location: [Location not specified]

Application Process: I applied via a referral and was interviewed in June 2024.

Interview Rounds:

  • Round 1 - Aptitude Test:
    • Questions Asked: The test was heavily focused on Accounting Principles and Core Accounting topics.
    • Your Approach: I reviewed journal entries, accounting theories, and practiced calculations like EPS (Earnings Per Share) and diluted EPS.
    • Outcome: [Result not specified]

Preparation Tips:

  • Topics to prepare for the Financial Analyst interview:
    • Journal entries
    • Accounting principles
    • Calculation of EPS and diluted EPS
    • Core accounting theories

Conclusion:
The interview process was straightforward but required a strong grasp of accounting fundamentals. I would recommend focusing on core accounting concepts and practicing calculations beforehand. If I could do anything differently, I would have spent more time on practical applications of accounting principles.

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Company Name: Ernst & Young

Position: Financial Associate

Location: [Not specified]

Application Process: I applied for the position through Naukri.com and was interviewed before August 2023.

Interview Rounds:

  • Round 1 - One-on-one Round:
    • Questions Asked:
      1. What is cloud finance?
      2. Explain the invoice cycle, billing period, and payment terms.
    • Your Approach: For the first question, I explained cloud finance as the use of cloud-based solutions to manage financial operations, emphasizing its benefits like scalability and cost-efficiency. For the second question, I broke down the invoice cycle into stages (creation, approval, payment), defined the billing period as the timeframe for which services are billed, and explained payment terms as the agreed-upon conditions for settling invoices.
    • Outcome: [Not specified]

Preparation Tips:

  • Focus on understanding financial concepts like cloud finance, invoice cycles, and payment terms.
  • Practice explaining these concepts clearly and concisely.
  • Review common financial processes and terminologies.

Conclusion:
The interview was straightforward, with questions centered around financial processes and modern financial tools like cloud finance. I felt confident in my answers, but I would recommend brushing up on specific industry terms to ensure clarity. Overall, it was a good learning experience.

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Company Name: Ernst & Young

Position: Financial Associate

Location: [Location not specified]

Application Process: I was approached by the company directly and interviewed in August 2023.

Interview Rounds:

  • Round 1 - HR Round:

    • Questions Asked:
      • They checked my general speaking skills.
    • Your Approach: I ensured I communicated clearly and confidently.
    • Outcome: Passed this round.

  • Round 2 - Aptitude Test Round:

    • Questions Asked: The test consisted of general financial and cost accounting-related questions.
    • Your Approach: I reviewed basic accounting concepts beforehand to ensure I was prepared.
    • Outcome: Successfully cleared the test.

  • Round 3 - One-on-one Round:

    • Questions Asked:
      • They asked about my current experience and general accounting-related questions, such as journal entries, P&L, and balance sheet.
    • Your Approach: I answered based on my practical experience and theoretical knowledge.
    • Outcome: Advanced to the next round.

  • Round 4 - Behavioral Round:

    • Questions Asked:
      • They asked general behavioral questions to gauge my willingness to stay with the company.
    • Your Approach: I emphasized my long-term interest in the role and the company.
    • Outcome: Cleared this round successfully.

Preparation Tips:

  • Brush up on basic accounting concepts, especially journal entries, P&L, and balance sheet.
  • Practice speaking clearly and confidently for the HR round.
  • Be prepared to discuss your experience and how it aligns with the role.
  • Reflect on your career goals and how they fit with the company’s values for the behavioral round.

Conclusion:
Overall, the interview process was smooth and well-structured. I felt prepared for each round, but I could have spent more time practicing behavioral questions to articulate my thoughts better. My advice to future candidates is to focus on both technical and soft skills, as EY values a balance of both. Good luck!

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Company Name: Ernst & Young

Position: Financial Associate

Location: Christ University, Bangalore

Application Process: I applied via campus placement at Christ University, Bangalore, and was interviewed in November 2023.

Interview Rounds:

  • Round 1 - Aptitude Test:

  • Questions Asked: Basic math and English questions.

  • Your Approach: The questions were straightforward, so I focused on accuracy and time management.

  • Outcome: Cleared the round successfully.

  • Round 2 - Case Study:

  • Questions Asked: Submitted a decision sheet related to AI.

  • Your Approach: Analyzed the case thoroughly and structured my response logically.

  • Outcome: Advanced to the next round.

  • Round 3 - Technical Round:

  • Questions Asked:

    1. Golden rules of accounting.
    2. How to compute depreciation while undergoing FA.
    3. Excel questions.
    4. Treatment of Bad debt.
    5. Xlookup and Vlookup.

  • Your Approach: Revised accounting fundamentals and practiced Excel functions beforehand.

  • Outcome: Performed well and received positive feedback.

Preparation Tips:

  • Focus on basic accounting principles and rules.
  • Practice Excel functions like Vlookup and Xlookup.
  • Be prepared for case studies by improving analytical skills.

Conclusion:
The interview process was smooth, and the questions were aligned with the role. I could have practiced more case studies to enhance my analytical responses. For future candidates, I recommend strengthening accounting basics and Excel skills.

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Company Name: Ernst & Young

Position: Financial Associate

Location: Not specified

Application Process: I applied through Naukri.com and was interviewed before March 2023.

Interview Rounds:

  • Round 1 - Assignment Round:

    • Questions Asked: Accounting-related questions.
    • Your Approach: I focused on demonstrating my understanding of accounting principles and practical applications.
    • Outcome: Successfully cleared the round.

  • Round 2 - One-on-One Round:

    • Questions Asked:
      1. Questions related to RTR accounting, IFRS, and US GAAP.
      2. What is lease accounting?
      3. Process of month-end.
      4. What are prepayments?
    • Your Approach: I answered based on my knowledge of accounting standards and real-world scenarios. For lease accounting, I explained the recognition and measurement principles under IFRS and US GAAP. For month-end processes, I outlined the steps involved in closing the books.
    • Outcome: Cleared this round as well.

  • Round 3 - HR Round:

    • Questions Asked: Package discussion.
    • Your Approach: I was transparent about my expectations and open to negotiation.
    • Outcome: The round went smoothly, and I received positive feedback.

Preparation Tips:

  • Have a strong foundation in accounting principles, especially RTR accounting, IFRS, and US GAAP.
  • Be prepared to discuss practical scenarios related to month-end processes and prepayments.

Conclusion:
Overall, the interview process was thorough and focused on both technical and HR aspects. I felt well-prepared for the technical rounds, but I could have researched more about the company’s specific accounting practices beforehand. My advice to future candidates is to brush up on accounting standards and be ready to explain real-world applications.

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Company Name: Ernst & Young

Position: Financial Associate

Location: Not specified

Application Process: I was approached by the company directly and interviewed in August 2023.

Interview Rounds:

  • Round 1 - HR Round:

    • Questions Asked: They checked my general speaking skills.
    • Your Approach: I ensured I communicated clearly and confidently, maintaining a professional tone.
    • Outcome: Passed to the next round.

  • Round 2 - Aptitude Test Round:

    • Questions Asked: The test included general financial and cost accounting-related questions.
    • Your Approach: I reviewed basic accounting principles and practiced similar questions beforehand.
    • Outcome: Successfully cleared the test.

  • Round 3 - One-on-one Round:

    • Questions Asked: They asked about my current experience and general accounting-related questions, such as journal entries, P&L, and balance sheets.
    • Your Approach: I answered based on my practical experience and refreshed my knowledge of accounting fundamentals.
    • Outcome: Advanced to the final round.

  • Round 4 - Behavioral Round:

    • Questions Asked: They wanted to gauge my willingness to stay with the company and asked general behavioral questions.
    • Your Approach: I emphasized my long-term interest in the role and aligned my answers with the company’s values.
    • Outcome: Received positive feedback and moved forward in the process.

Preparation Tips:

  • Brush up on basic accounting principles, especially journal entries, P&L, and balance sheets.
  • Practice aptitude tests focusing on financial and cost accounting.
  • Prepare for behavioral questions by reflecting on your career goals and alignment with the company.

Conclusion:
Overall, the interview process was smooth and well-structured. I felt prepared for each round, but I could have practiced more behavioral scenarios to articulate my responses better. My advice to future candidates is to focus on both technical and soft skills, as EY values a balance of both.