Deloitte Assistant Manager/Manager -(Technical) Interview Questions and Answers

Q1. What is deferred revenue?
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Deferred revenue is income received by a company in advance of earning it, resulting in a liability on the balance sheet.
• Deferred revenue represents a liability for the company until the goods or services are delivered to the customer.

• It is common in subscription-based businesses where customers pay upfront for services that will be provided over time.

• Once the revenue is earned, it is recognized on the income statement...read more
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Q2. Golden rules of accounting
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The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The golden rule of accounting is that for every debit entry, there must be an equal credit entry.

• There are three types of accounts: real, personal, and nominal. The golden rules differ for each type of account.

• For real accounts, the golden rule is: Debit what comes in, credit what goes out.

• For personal account...read more
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Q3. What is accrual concept
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Accrual concept is a principle of recognizing revenue and expenses when they are incurred, regardless of when cash is exchanged.
• Revenue and expenses are recorded when they are earned or incurred, not when cash is received or paid.

• This concept ensures that financial statements accurately reflect the financial position of a company.

• For example, if a company provides services in December but doesn't receive payment until ...read more
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Q4. What is quick ratio
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The quick ratio is a financial metric used to measure a company's ability to meet its short-term obligations with its most liquid assets.
• Quick ratio is calculated by dividing quick assets (cash, marketable securities, accounts receivable) by current liabilities.

• A quick ratio of 1 or higher indicates that a company has enough liquid assets to cover its short-term liabilities.

• A quick ratio below 1 may suggest that a comp...read more
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Learn about p and l and bakancesheet

Q1. Learn all basic account question
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Q1. Tell me about yourself
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I am a detail-oriented Tax Associate with a strong background in accounting and tax law.
• Graduated with a degree in Accounting

• Completed internships at accounting firms

• Experience preparing tax returns for individuals and businesses

• Familiar with tax laws and regulations

• Strong analytical and problem-solving skills
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Q2. Basic accounting questions
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Q1. General question
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Normally easy question

Q1. Tell me about your self
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Q2. Why pwc, why i hire you
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Balance sheet and general knowledge

Q1. Balance sheet items
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Q2. Accrued items meanings of balance sheet
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Accrued items on the balance sheet refer to expenses that have been incurred but not yet paid.
• Accrued items are liabilities that represent expenses that have been recognized but not yet paid.

• They are recorded on the balance sheet as a current liability.

• Examples include accrued salaries, accrued interest, and accrued taxes.

• Accrued items are typically adjusted at the end of an accounting period to reflect the accurate fi
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There will be more 11 section with limited time

Q1. In depth Financial and Accounting Knowledge
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Q2. Bad Note and Depreciation
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Q3. Financial Statements
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Q4. Fund Flow Statement
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Q5. Ratios and Journal entry
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