Deloitte Tax Consultant Interview Questions, Process, and Tips

Q1. Versant round, basic English tests
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Q1. About financial and accounting concepts
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Q1. Behavioral questions
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It was a cocube test where it contains some logical reasoning and accounting based questions and excel related questions.

Q1. In Hr Interview..they asked to brief the resume in which they have asked some questions and they build the questions based on our self intro.
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Q1. In technical interview always they build the question on how we describe ourselves in a self intro..They asked me about the experience of internship and they cross questioned in my project topic.
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Q1. In this round they tested the communication and our attitude. They have also asked some technical questions related to tax.
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Q1. Part A: Reading (8), Part B: Repeat (16), Part C: Simple Questions (24), Part D: Sentence Build (10), Part E: Story Retelling (3), Part F: Open Questions (2)
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Business Proficiency Test - 1 Hour 15 Minutes
Modules - Financial Accounting (30 Questions)
Logical Reasoning (30 Questions)
Excel (15)

Q1. Tell me something About Yourself Your previous Work Experience Golden Rules of Accounting What is Marginal Cost ? Financial Ratios Situational Questions
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Q1. What is Accrual Accounting?
Ans. 
Accrual accounting is a method of accounting where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
• Revenue is recognized when it is earned, not necessarily when cash is received.

• Expenses are recorded when they are incurred, not necessarily when they are paid.

• Accrual accounting provides a more accurate picture of a company's financial position.

• It follows the matc...read more
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Q1. Explain Deferred Tax Liability
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Deferred Tax Liability is a balance sheet item that represents taxes that will be payable in the future due to temporary differences between accounting and tax rules.
• Deferred Tax Liability arises when a company's taxable income is greater than its accounting income, leading to taxes being deferred to a future period.

• It represents the amount of income tax payable in the future based on temporary differences between the ...read more
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It was logical and reasoning

Q1. What is depreciation
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Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It reflects the wear and tear, age, and obsolescence of the asset.

• Common methods of calculating depreciation include straight-line, double-declining balance, and units of production.

• Example: A company buys a delivery truck for $50,000 with a useful life of 5...read more
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Q2. 1040 return is in detail
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Form 1040 is the standard tax form used by individuals to file their annual income tax return with the IRS.
• Form 1040 is used by individuals to report their income, deductions, and credits for the year.

• It is the most common tax form used by taxpayers in the United States.

• Taxpayers may need to attach additional schedules or forms depending on their specific tax situation.

• The form must be filed by the tax deadline, usuall...read more
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