EY Global Delivery Services ( EY GDS) Staff Assistant Interview Questions and Answers

Q1. Basic Accounting Journal Entries
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Q2. Basic audit questions
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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
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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. Tell me about yrself
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Writing test about the subject

Q1. Tell me about your prior company experience
Ans. 
I have over five years of experience in project management and team leadership in a tech-driven environment.
• Led a team of 10 in developing a software application that improved client satisfaction by 30%.

• Implemented Agile methodologies, resulting in a 25% increase in project delivery speed.

• Collaborated with cross-functional teams to streamline processes, reducing operational costs by 15%.

• Conducted training sessions for ...read more
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Q2. Why do you want a job change
Ans. To get experience in different domain and BDO rise is once such new organisation to provide a good platform.
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Q1. What is k-1 and K-2 forms
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K-1 and K-2 forms are used for fiancé(e) and dependent visas respectively in the United States.
• K-1 form is used for fiancé(e) visas and K-2 form is used for dependent visas in the US

• K-1 form allows a US citizen to bring their fiancé(e) to the US for marriage within 90 days

• K-2 form allows the dependent children of the K-1 visa holder to accompany them to the US

• Both forms require extensive documentation and background ch...read more
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Q1. A/r, A/p, GST, Depreciation, Journal entries for the same
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Q2. A/r and A/p difference
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A/r and A/p difference
• A/r stands for Accounts Receivable, which represents the money owed to a company by its customers for goods or services provided.

• A/p stands for Accounts Payable, which represents the money a company owes to its suppliers or vendors for goods or services received.

• The main difference between A/r and A/p is the direction of the cash flow: A/r represents money coming into the company, while A/p repres...read more
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Q3. GST and Journal entry
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Q4. Depreciation and Accumulated Depreciation
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Q1. Salary Expectation
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