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Deloitte Audit Analyst Interview Questions, Process, and Tips for Freshers
Top Deloitte Audit Analyst Interview Questions and Answers for Freshers
- Q1. Difference between current and non current in balance sheet
- Q2. Difference between amortization and depreciation
- Q3. How working capital is calculated
Deloitte Audit Analyst Interview Experiences for Freshers
2 interviews found
Anonymous
Selected
Online Test which includes different sections like english, finance, accounting ,reasoning
GD was there for group of seekers.
(1 Question)
- Q1. HR round with basic plus technical questions.
(1 Question)
- Q1. This was an interview by a member of the firm who took it on technical level.
Interview Preparation Tips
I applied via Approached by Company and was interviewed in May 2022. There were 4 interview rounds.
(5 Questions)
- Q1. Difference between amortization and depreciation
- Ans.
Amortization is for intangible assets while depreciation is for tangible assets.
Amortization is the process of spreading the cost of an intangible asset over its useful life.
Depreciation is the process of spreading the cost of a tangible asset over its useful life.
Amortization is used for assets like patents, copyrights, and trademarks.
Depreciation is used for assets like buildings, machinery, and vehicles.
- Q2. Difference between provision and reserve
- Ans.
Provision is an estimated liability while reserve is a part of profit set aside for future use.
Provision is an estimated liability that a company sets aside to cover a known or potential future obligation.
Reserve is a part of profit that a company sets aside for future use, such as for expansion or to cover unexpected expenses.
Provisions are usually based on estimates and can be adjusted as more information becomes ava...
- Q3. How working capital is calculated
- Ans.
Working capital is calculated by subtracting current liabilities from current assets.
Current assets include cash, accounts receivable, inventory, and short-term investments.
Current liabilities include accounts payable, short-term loans, and accrued expenses.
The formula for working capital is: Current Assets - Current Liabilities.
A positive working capital indicates that a company has enough short-term assets to cover i...
- Q4. Rectification entry for wrong posted entry
- Ans.
Rectification entry is made to correct a wrong posted entry in accounting records.
Identify the incorrect entry and the correct entry to be made
Prepare a rectification entry to reverse the incorrect entry and record the correct entry
Ensure that the rectification entry is properly documented and approved
Post the rectification entry to the accounting records
- Q5. About Bank reconciliation statement
Versant test communication test containing all kinds of activities related to listening reading grammar
(2 Questions)
- Q1. About Bank reconciliation statement
- Q2. Difference between current and non current in balance sheet
- Ans.
Current assets/liabilities are expected to be used/settled within a year, while non-current assets/liabilities have a longer life span.
Current assets include cash, accounts receivable, inventory, and prepaid expenses.
Current liabilities include accounts payable, short-term loans, and accrued expenses.
Non-current assets include property, plant, and equipment, long-term investments, and intangible assets.
Non-current liab...
(1 Question)
- Q1. Self introduction basic questions
Interview Preparation Tips
Interview questions from similar companies
shubhi sharma
Selected
I applied via campus placement at Gargi College, Delhi and was interviewed in Jun 2022. There were 3 interview rounds.
The topic was- do deadline destroy creativity
(6 Questions)
- Q1. 1). Tell me about yourself apart from resume.
- Ans.
I am a detail-oriented and analytical individual with a strong background in auditing and financial analysis.
I have a Bachelor's degree in Accounting and have completed several internships in auditing firms.
I am proficient in using auditing software and have experience in conducting financial statement analysis.
I have excellent problem-solving skills and attention to detail, which are crucial in identifying and resolvi...
- Q2. 2) what is accounting
- Ans.
Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.
Accounting involves keeping track of financial transactions such as sales, purchases, and payments
It includes classifying these transactions into categories such as assets, liabilities, and equity
The information is then summarized in financial statements such as ...
- Q3. What is profit and loss account, financial statement and cash flow statement
- Ans.
Profit and loss account, financial statement, and cash flow statement are all important financial documents used to track a company's financial performance.
Profit and loss account shows a company's revenues, expenses, and net income or loss over a specific period of time.
Financial statements provide a comprehensive overview of a company's financial health, including its assets, liabilities, and equity.
Cash flow stateme...
- Q4. What are different elements in cash flow statement and explain them.
- Ans.
The cash flow statement has three main elements: operating activities, investing activities, and financing activities.
Operating activities: cash inflows and outflows from the company's core business operations, such as sales and expenses.
Investing activities: cash inflows and outflows from investments, such as buying or selling property, plant, and equipment.
Financing activities: cash inflows and outflows from financin...
- Q5. Sales and purchase account entry
- Ans.
Sales and purchase account entry
Sales account entry records revenue generated from sales
Purchase account entry records expenses incurred from purchases
Both accounts are used to calculate net income or loss
Sales account is credited and purchase account is debited
- Q6. What is Bank Reconciliation Statement and state it’s purpose
- Ans.
Bank Reconciliation Statement is a document that compares the bank statement with the company's records.
It helps to identify any discrepancies between the two records.
It ensures that all transactions are recorded accurately.
It helps to detect any fraudulent activities.
It is prepared at regular intervals, usually monthly.
Example: If a company issues a check but it has not yet cleared the bank, it will be reflected in th...
Interview Preparation Tips
Xinyan Huang
Case study on a project with 6 ppl
(1 Question)
- Q1. Situation judgement based q - 9
Selected
I applied via Referral and was interviewed before Mar 2023. There was 1 interview round.
(2 Questions)
- Q1. Basic Audit concepts
- Q2. Materiality concepts, sampling concepts and few scenario based questions
Interview Preparation Tips
- Auditing
- Statutory Audit
(1 Question)
- Q1. Internal audit questions p2p r2r
Interview Preparation Tips
I applied via Company Website and was interviewed in Sep 2023. There were 3 interview rounds.
(1 Question)
- Q1. What is auditing?
- Ans.
Auditing is the process of evaluating an organization's financial records, internal controls, and compliance with regulations.
Auditing involves examining financial statements and records to ensure accuracy and compliance.
It also includes assessing internal controls to prevent fraud and errors.
Auditors provide independent and objective assessments to help improve processes and ensure transparency.
Examples include financ...
(1 Question)
- Q1. What is Cash flow?
- Ans.
Cash flow is the movement of money in and out of a business, showing how much cash is generated or spent over a specific period of time.
Cash flow is crucial for assessing a company's financial health and liquidity.
Positive cash flow means more money is coming in than going out, while negative cash flow indicates the opposite.
Examples of cash flow include revenue from sales, operating expenses, investments, and financin
Interview Questionnaire
2 Questions
- Q1. Why this line of work?
- Ans.
I have a passion for analyzing and improving business processes to ensure efficiency and effectiveness.
I enjoy problem-solving and finding solutions to complex issues.
I have a strong attention to detail and a desire to ensure accuracy in financial reporting.
I appreciate the opportunity to work with a variety of departments and stakeholders within an organization.
I find satisfaction in helping organizations achieve thei...
- Q2. What kind of career do you plan for yourself and how will the company help you reach there?
- Ans.
I plan to become a senior internal auditor and the company can help me by providing opportunities for growth and development.
I aim to gain more experience in the field of internal auditing and develop my skills in risk management and compliance.
I plan to take on more responsibilities and eventually become a team leader or manager.
The company can support me by providing training programs, mentorship, and opportunities f...
Interview Preparation Tips
Experience: Written test was on the CAT based pattern where they had questions from quantitative aptitude, verbal ability and logical reasoning. It was of mediocre difficulty but would require practice to ace it easily.
Round: Group Discussion
Experience: I interpreted it as the rays of sun which marks the beginning of a new day, a new hope and it spreads over to one and all equally and unbiased. Also religiously orange is also a very pure color. Some people compared organizations to orange, a fruit, as in where people are together under one name and even though they are of different natures and attitudes they work together for one firm.
Round: HR Interview
Experience: The interview was a complete HR interview. They asked me about myself, my strengths and weakness and where do I see myself in the next 5 years. They also inquired about my long term and short term goals. These were very generic HR question about which I had already prepared.
This was all about my interview. As you can see it was a simple one, they had primarily made the selection based on the resume and how you answered the generic HR questions.
College Name: SHRI RAM COLLEGE OF COMMERCE
Selected
I applied via campus placement at Gargi College, Delhi and was interviewed in Jun 2022. There were 3 interview rounds.
The topic was- do deadline destroy creativity
(6 Questions)
- Q1. 1). Tell me about yourself apart from resume.
- Ans.
I am a detail-oriented and analytical individual with a strong background in auditing and financial analysis.
I have a Bachelor's degree in Accounting and have completed several internships in auditing firms.
I am proficient in using auditing software and have experience in conducting financial statement analysis.
I have excellent problem-solving skills and attention to detail, which are crucial in identifying and resolvi...
- Q2. 2) what is accounting
- Ans.
Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.
Accounting involves keeping track of financial transactions such as sales, purchases, and payments
It includes classifying these transactions into categories such as assets, liabilities, and equity
The information is then summarized in financial statements such as ...
- Q3. What is profit and loss account, financial statement and cash flow statement
- Ans.
Profit and loss account, financial statement, and cash flow statement are all important financial documents used to track a company's financial performance.
Profit and loss account shows a company's revenues, expenses, and net income or loss over a specific period of time.
Financial statements provide a comprehensive overview of a company's financial health, including its assets, liabilities, and equity.
Cash flow stateme...
- Q4. What are different elements in cash flow statement and explain them.
- Ans.
The cash flow statement has three main elements: operating activities, investing activities, and financing activities.
Operating activities: cash inflows and outflows from the company's core business operations, such as sales and expenses.
Investing activities: cash inflows and outflows from investments, such as buying or selling property, plant, and equipment.
Financing activities: cash inflows and outflows from financin...
- Q5. Sales and purchase account entry
- Ans.
Sales and purchase account entry
Sales account entry records revenue generated from sales
Purchase account entry records expenses incurred from purchases
Both accounts are used to calculate net income or loss
Sales account is credited and purchase account is debited
- Q6. What is Bank Reconciliation Statement and state it’s purpose
- Ans.
Bank Reconciliation Statement is a document that compares the bank statement with the company's records.
It helps to identify any discrepancies between the two records.
It ensures that all transactions are recorded accurately.
It helps to detect any fraudulent activities.
It is prepared at regular intervals, usually monthly.
Example: If a company issues a check but it has not yet cleared the bank, it will be reflected in th...
Interview Preparation Tips
I applied via Recruitment Consulltant and was interviewed in Jul 2022. There were 4 interview rounds.
Aptitude test was from AMCAT and questions were basically asked from logical ability email writing financial and accounting and English comprehensive
(1 Question)
- Q1. Technical round went around half and hour and i was asked mostly behavioural questions and case study based questions and some basic accounting questions then we had a little conversation about my profil...
- Ans. There were around 4 behavioural questions 2 case study questions 5 to 6 accounting questions
(1 Question)
- Q1. Salary discussion and basic intro based questions
Interview Preparation Tips
Have some basic accounting knowledge
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