EY Global Delivery Services ( EY GDS) CRM Consultant Interview Questions and Answers

It is a test based on technical skills, in the form of written test

Q1. Is a with the company seniors, who test our knowledge by asking few questions
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Q1. Salary and work culture
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Journal entries for Final accounts , GST and Payroll.

Q1. Golden rules of accounts, GST related Journals entries.
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Q2. You need to know about Balance sheet and Profit & Loss account line items.
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Q1. What are your salary expectations?
Ans. 
I expect a competitive salary that reflects my skills, experience, and the industry standards for this role.
• Research industry standards: For example, similar roles in my area typically offer between $60,000 and $80,000.

• Consider my experience: With 3 years in the field, I believe a salary on the higher end is justified.

• Flexibility: I'm open to discussing a range that aligns with the company's budget and my qualification...read more
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Q2. Share details of your previous job.
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Q3. Tell me about yourself.
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I am a dedicated professional with a background in finance and a passion for problem-solving and teamwork.
• Education: Graduated with a degree in Finance from XYZ University, where I was involved in the finance club.

• Experience: Worked as an intern at ABC Corp, where I assisted in financial analysis and reporting.

• Skills: Proficient in Excel and financial modeling, with a strong ability to analyze data and present findings...read more
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Test was easy not finding any difficulty

Q1. Interview was easy only simple question asked
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Q2. General entries and case to case questions asked
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Q1. Journal entries for adjustment accounts
Ans. 
Adjustment accounts require journal entries to reflect changes in financial statements accurately.
• Adjusting entries are made at the end of an accounting period.

• Types include accruals, deferrals, estimates, and reclassifications.

• Example: Accrued expenses - Debit Expense Account, Credit Accrued Liabilities.

• Example: Prepaid expenses - Debit Expense Account, Credit Prepaid Asset Account.

• Adjusting entries ensure that revenu...read more
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Q2. Bank reconciliation
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Q1. Explain about ASC 842
Ans. 
ASC 842 is the accounting standard for lease recognition and measurement, enhancing transparency in financial reporting.
• ASC 842 requires lessees to recognize most leases on their balance sheets as assets and liabilities.

• Lessees must classify leases as either finance or operating leases, affecting expense recognition.

• For example, a 5-year office lease would be recorded as a right-of-use asset and a lease liability.

• ASC 8...read more
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Q2. Explain ASC 606 five steps
Ans. 
ASC 606 outlines a five-step process for recognizing revenue from contracts with customers.
• 1. Identify the contract: Determine if an agreement exists that creates enforceable rights and obligations.

• 2. Identify performance obligations: Recognize distinct goods or services promised in the contract.

• 3. Determine the transaction price: Establish the amount the entity expects to receive in exchange for transferring goods or ...read more
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Q1. Name and introduction?
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Q2. Latest news update and previous work ex?
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Report making on a certain topic

Q1. Tell me about Yourself
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Q2. What are financial statement
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Q3. Schedule 3 of companies act
Ans. 
Schedule 3 of Companies Act is a list of disclosures that companies must make in their financial statements.
• Schedule 3 outlines the minimum disclosures required for companies to comply with the Companies Act.

• It includes information on fixed assets, investments, inventory, debtors, creditors, and more.

• Companies must ensure that their financial statements include all the necessary disclosures as per Schedule 3.

• Failure to...read more
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Q4. Golden rule of accounting
Ans. 
The golden rule of accounting is to maintain a balance between assets, liabilities, and equity.
• Assets = Liabilities + Equity

• This equation must always be balanced in order to ensure accurate financial statements

• Any changes to one side of the equation must be reflected on the other side

• For example, if a company takes out a loan (liability), their assets will increase by the amount of the loan, but their equity will decre...read more
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Q5. GST Journal entry with credit purchase
Ans. 
GST journal entry for credit purchase
• Debit the purchase account

• Credit the GST input account

• Credit the supplier account
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Q6. What is internal audit
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Q7. Who are the person who can do Internal audit
Ans. 
Internal audit can be done by individuals who possess relevant skills and knowledge.
• Individuals with accounting or finance background

• Certified Internal Auditors (CIAs)

• Individuals with experience in risk management and compliance

• Professionals with knowledge of industry-specific regulations and standards

• Individuals with strong analytical and communication skills

• Examples: Accountants, Auditors, Risk Managers, Compliance O...read more
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Q8. Salary Expectation, what would you prefer
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