Ernst & Young Tax Analyst Interview Questions, Process, and Tips

Q1. Introduce yourself
Ans. 
I am a tax analyst with 5 years of experience in corporate tax planning and compliance.
• 5 years of experience in corporate tax planning and compliance

• Proficient in tax laws and regulations

• Skilled in financial analysis and reporting

• Strong attention to detail and problem-solving skills
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Q2. Journal entry of outstanding expense
Ans. 
The journal entry for recording an outstanding expense involves debiting the expense account and crediting the accounts payable account.
• Debit the expense account to increase the expense amount on the income statement

• Credit the accounts payable account to show the liability owed to the vendor

• Example: Debit Rent Expense $1,000 and Credit Accounts Payable $1,000 for outstanding rent expense
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Q3. Difference between cashflow statement and fundflow statement
Ans. 
Cashflow statement shows inflows and outflows of cash, while fundflow statement shows changes in financial position.
• Cashflow statement focuses on cash transactions, while fundflow statement focuses on changes in financial position.

• Cashflow statement helps in assessing liquidity, while fundflow statement helps in analyzing sources and uses of funds.

• Cashflow statement includes operating, investing, and financing activiti...read more
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Q4. Journal entry of purchase of furniture
Ans. 
The journal entry for the purchase of furniture involves debiting the Furniture account and crediting the Cash or Accounts Payable account.
• Debit the Furniture account to increase the asset value

• Credit the Cash account if purchased with cash

• Credit the Accounts Payable account if purchased on credit

• Example: Debit Furniture $1,000, Credit Cash $1,000
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Q1. Introduce yourself
Ans. 
I am a tax analyst with 5 years of experience in corporate tax planning and compliance.
• 5 years of experience in corporate tax planning and compliance

• Strong knowledge of tax laws and regulations

• Skilled in financial analysis and reporting

• Proficient in tax software such as TurboTax and QuickBooks
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Q2. Preferred Location
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I am open to any location that offers a challenging work environment and opportunities for growth.
• Open to relocation for the right opportunity

• Interested in locations with strong job markets

• Seeking a location with a diverse community and cultural opportunities
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Basic question accounts, coding and so on

Q1. About GST. Accounts basic concepts Taxation question
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In the aptitude test they had accounts, English communication and logical reasoning

Q1. The questions were centric to the resume
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Q2. Tell me something other than your resume
Ans. 
I am an avid traveler and have visited over 20 countries around the world.
• I have a passion for exploring new cultures and trying different cuisines.

• Traveling has taught me to be adaptable and open-minded.

• Some of my favorite travel destinations include Japan, Italy, and Thailand.
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Q1. Total Income tax collected by Indian government in 2023?
Ans. 
The total income tax collected by the Indian government in 2023 is not available.
• Data for total income tax collected by the Indian government in 2023 is not publicly available.

• The exact amount of income tax collected can vary based on economic conditions, tax policies, and taxpayer compliance.

• Government reports or budget documents may provide information on total tax revenue collected.
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Q2. Financial ratios formula
Ans. 
Financial ratios formula are used to analyze a company's financial performance and health.
• Financial ratios are calculated using data from a company's financial statements.

• Common financial ratios include profitability ratios, liquidity ratios, and solvency ratios.

• Examples of financial ratios include return on assets (ROA), current ratio, and debt-to-equity ratio.
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Basic accounting , lrdi, english

Basic topics but not so civilized discussion