Deloitte Interview Questions, Process, and Tips

Q1. Direct tax related assignments
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Q2. Interpretation of Direct tax law
Ans. 
Interpretation of direct tax law involves understanding and applying tax regulations to determine tax liabilities.
• Understanding tax laws and regulations

• Applying tax laws to determine tax liabilities

• Interpreting tax codes and guidelines

• Analyzing tax implications of financial transactions

• Ensuring compliance with tax laws
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Q1. What are the different LifeCycle Methods of React?
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React has three main lifecycle methods: Mounting, Updating, and Unmounting.
• Mounting: These methods are called when an instance of a component is being created and inserted into the DOM.

• Updating: These methods are called when a component is being re-rendered as a result of changes to either its props or state.

• Unmounting: This method is called when a component is being removed from the DOM.
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Q2. What are the different hooks in React?
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React hooks are functions that allow you to use state and other React features in functional components.
• useState() - for managing state in functional components

• useEffect() - for performing side effects in functional components

• useContext() - for accessing context in functional components

• useReducer() - for managing complex state and actions in functional components

• useCallback() - for memoizing functions in functional com...read more
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Q3. What is useEffect Hook? What are dependency arrays wrt useEffect?
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useEffect Hook is a built-in hook in React that allows you to perform side effects in functional components.
• useEffect Hook is used to handle side effects in functional components, such as fetching data, subscribing to events, or manipulating the DOM.

• It takes two arguments: a function that represents the side effect, and an optional dependency array.

• The function passed to useEffect will be executed after every render, u...read more
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Q4. Is Javascript a single/multi threaded language? If single threaded then how does backend calls work?
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Javascript is a single-threaded language, but it can handle asynchronous operations through callbacks and promises.
• Javascript is single-threaded, meaning it can only execute one task at a time.

• However, it can handle asynchronous operations by using callbacks, promises, and async/await.

• Backend calls in Javascript are typically made using asynchronous functions, allowing the program to continue executing other tasks whil...read more
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Q5. Name different package managers of Node JS and Javascript
Ans. 
npm is the most popular package manager for Node.js and JavaScript.
• npm (Node Package Manager) is the default package manager for Node.js and JavaScript.

• Yarn is an alternative package manager that offers faster and more reliable dependency management.

• pnpm is another package manager that uses a unique approach of hard-linking dependencies to save disk space.

• Bower is a package manager specifically designed for front-end w...read more
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Q6. How javascript runs on servers?
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JavaScript can run on servers using server-side JavaScript platforms like Node.js.
• JavaScript can be executed on servers using server-side JavaScript platforms like Node.js.

• Node.js allows JavaScript to run on the server-side by providing a runtime environment.

• Server-side JavaScript enables developers to build scalable and high-performance web applications.

• Node.js uses the V8 JavaScript engine to execute JavaScript code ...read more
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Q1. Difference between CARO 2016 and CARO 2020
Ans. 
CARO 2016 and CARO 2020 are two different sets of rules and regulations for statutory audits in India.
• CARO 2016 had 16 clauses while CARO 2020 has 21 clauses.

• CARO 2020 introduced new reporting requirements related to fraud, internal financial controls, and corporate social responsibility.

• CARO 2020 expanded the scope of reporting on related party transactions.

• CARO 2020 requires reporting on defaults in repayment of loan...read more
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Q2. Changes in Schedule 3
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Schedule 3 refers to the section of a statutory audit report that outlines the auditors' responsibilities and findings.
• Schedule 3 provides details about the scope of the audit and the auditors' opinion on the financial statements.

• It includes information on the auditors' assessment of internal controls and any significant audit findings.

• Changes in Schedule 3 may occur due to updates in auditing standards or changes in t...read more
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Q3. Briefly explain IndAS 115
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IndAS 115 is a new revenue recognition standard that replaces the existing IndAS 18 and IndAS 11.
• IndAS 115 is applicable to all entities that recognize revenue from contracts with customers.

• It provides a single, comprehensive framework for revenue recognition across all industries.

• The standard introduces a five-step model for recognizing revenue from contracts:

• 1. Identify the contract with the customer

• 2. Identify the p...read more
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Q1. Explain Audit Trail
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Audit trail is a chronological record that provides evidence of the sequence of activities and changes made to a set of data or transactions.
• Audit trail is a log or record of all activities and changes made during an audit process.

• It helps in ensuring the integrity and reliability of financial statements and other audit evidence.

• Audit trail provides a clear and transparent trail of actions taken, allowing for traceabil...read more
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Q2. How do you audit accounts recieveable
Ans. 
Auditing accounts receivable involves verifying the accuracy and completeness of recorded receivables.
• Reviewing the accounts receivable ledger and comparing it to supporting documentation

• Confirming the balances with customers through direct communication or third-party confirmations

• Testing the valuation of receivables by assessing the adequacy of allowances for doubtful accounts

• Examining the aging of receivables to ide...read more
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Q1. DAX ? WHAT ARE TIME INTELLIGENCE FNCS
Ans. 
Time intelligence functions in DAX are used to perform calculations based on dates and times.
• Time intelligence functions help in comparing data over different time periods.

• Functions like TOTALYTD, SAMEPERIODLASTYEAR, and DATESBETWEEN are commonly used for time intelligence.

• They can be used to calculate year-to-date totals, compare values with previous periods, and more.
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Q2. FOCUS ON SQL AND DAX
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50 mcq questions apti based

Q1. Why fit for this role?
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Q2. Where do you see yourself in 5years?
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