CohnReznick Tax Associate Interview Questions and Answers

Q1. Slept introduction
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Q2. What is direct tax
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Direct tax is a tax imposed directly on individuals or organizations by the government.
• Direct tax is paid directly by the taxpayer to the government.

• It is based on the income or profits of the taxpayer.

• Examples include income tax, corporate tax, and property tax.
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Q1. Basic accounting
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Q1. Explain Accounting Principals
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Accounting principles are the fundamental guidelines and rules that govern the field of accounting.
• Accounting principles provide a framework for recording, analyzing, and reporting financial transactions.

• They ensure consistency, accuracy, and transparency in financial statements.

• Examples of accounting principles include the matching principle, revenue recognition principle, and the cost principle.

• These principles help ...read more
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What is Tax, How many types of Taxes are there

It was quite easy. You've to have good grip in basic Accounting & Costing concepts. Also there was some reasoning & basic English comprehension test as well.

Q1. They will try to know if your foundation in all the commerce subjects are good or not. May be they can ask few questions regarding MS Excel.
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Q2. Why do you want to join US Taxation?
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Q3. What is Vlookup & Hlookup.
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Vlookup & Hlookup are Excel functions used to search for a value in a table and return a corresponding value.
• Vlookup searches for a value in the first column of a table and returns a value in the same row from a specified column.

• Hlookup searches for a value in the first row of a table and returns a value in the same column from a specified row.

• Both functions are commonly used in Excel for data analysis and manipulation...read more
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Qunatitave aaptitude test

Q1. Tax fundamentals
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Q1. What is accumulated depreciation
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Accumulated depreciation is the total amount of depreciation expense that has been recorded for an asset since it was acquired.
• Accumulated depreciation is a contra asset account, meaning it has a credit balance.

• It represents the total depreciation expense recognized on an asset over its useful life.

• Accumulated depreciation is used to reduce the carrying amount of an asset on the balance sheet.

• For example, if a company ...read more
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Q2. What is contingent Asset and Contingent Liability
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Contingent assets and liabilities are potential assets and liabilities that may arise in the future based on certain events.
• Contingent Asset: potential assets that may arise in the future if certain events occur, such as a pending lawsuit or a potential tax refund.

• Contingent Liability: potential liabilities that may arise in the future if certain events occur, such as a pending lawsuit or a warranty claim.

• Contingent as...read more
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Q1. Journal entries
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Q2. Accounting concepts and examples
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Accounting concepts are fundamental principles that guide the preparation and presentation of financial statements.
• Accrual accounting vs. cash accounting

• Matching principle

• Conservatism principle

• Revenue recognition principle

• Historical cost principle

• Materiality principle
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Basics of accounting and finance

Q1. Self introduction and basics of accounting and regarding resume.
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Q2. What motivates you? How do rate yourself in excel? How do you want to contribute to the company? Why tax? Why finance? Why Ryan?
Ans. 
I am motivated by the opportunity to learn and grow, excel in using Excel, and contribute to the company's success.
• I am motivated by the opportunity to learn and grow both personally and professionally.

• I have a strong proficiency in using Excel and can efficiently handle complex spreadsheets.

• I am dedicated to contributing to the company's success by utilizing my skills and knowledge in tax and finance.

• I am passionate a...read more
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Q1. This is the first in person interview round where they ll ask each and everything about the resume . And they ll also ask technical questions related to finance domain as well as taxation. Communication an...read more
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Q1. This round ll be held by the manager or operational director of the company related to the different processes your applying for. This round is will go on for 30-40 mins and little bit tough though.commu...read more
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Q1. This is the final round of interview where the HR recruiter ll ask situational based question and tricky questions as well. And moreover every round is elimination round , people who are looking to begin t...read more
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