Filter interviews by
I appeared for an interview in Jun 2024.
The golden rule of accounting states that for every debit there must be an equal credit.
The golden rule of accounting is also known as the double-entry accounting system.
It ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced.
For every transaction recorded, there must be at least one debit and one credit entry.
Example: If cash is received, the Cash account is debited and another account...
Different methods of depreciation include straight-line, double declining balance, units of production, and sum-of-the-years-digits.
Straight-line method: Allocates an equal amount of depreciation each year.
Double declining balance method: Accelerates depreciation in the early years of an asset's life.
Units of production method: Depreciation is based on the actual usage of the asset.
Sum-of-the-years-digits method: Accel...
Accrued expenses are recorded with a debit to an expense account and a credit to a liability account.
Debit the expense account to recognize the expense
Credit the accrued liability account to show the obligation
Example: Debit Salaries Expense, Credit Salaries Payable
Deductions under sections 80C and 80D of the Income Tax Act allow taxpayers to reduce their taxable income by investing in specified avenues or paying for health insurance premiums.
Section 80C allows deductions for investments in instruments such as PPF, EPF, NSC, ELSS, life insurance premiums, etc.
The maximum deduction under section 80C is Rs. 1.5 lakh per financial year.
Section 80D allows deductions for health insura...
To claim a deduction for rent paid under income tax, one must meet certain criteria and follow specific steps.
Ensure the rent paid is for a property used for business purposes or as a residence
Keep records of rent payments, such as receipts or lease agreements
File the appropriate tax forms, such as Schedule A for itemized deductions
Be aware of any limitations on rent deductions based on income level or other factors
Online Assessment with basic language and aptitude content.
I appeared for an interview before Feb 2024.
A standard English exam to assess language proficiency.
I applied via Campus Placement and was interviewed before May 2023. There were 3 interview rounds.
It was spoken english and grammar test. It wasn't that hard. Could crack it easily.
Audit assertions are claims made by management regarding the accuracy of financial statements.
Audit assertions include existence, completeness, valuation, rights and obligations, and presentation and disclosure.
They help auditors assess the risk of material misstatement in financial statements.
For example, existence assertion ensures that assets and liabilities actually exist.
Completeness assertion ensures that all tra...
The revenue recognition 5 step model as per Ind AS 115 involves identifying the contract, identifying performance obligations, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue as the performance obligations are satisfied.
Identify the contract: Determine if there is an agreement between two or more parties that creates enforceable rights and obli...
Get interview-ready with Top KPMG Global Services Interview Questions
I applied via Naukri.com and was interviewed before Feb 2022. There were 2 interview rounds.
Top trending discussions
I applied via Company Website and was interviewed before Nov 2021. There were 3 interview rounds.
Java coding on exception handling by using arrays
Self intro, technical questions
Audit process involves systematic examination of financial records, statements, and transactions to ensure accuracy and compliance.
Planning and preparation
Fieldwork and data collection
Analysis and evaluation of findings
Reporting and communication of results
Follow-up and monitoring of corrective actions
Examples: financial audit, operational audit, compliance audit
During the audit of the client, major findings were identified related to financial reporting and internal controls.
Identified weaknesses in the client's internal control system
Discovered errors in financial reporting
Found instances of non-compliance with accounting standards
Recommended improvements to the client's accounting processes
Provided suggestions for strengthening the client's internal controls
Ind AS 115 requires auditors to perform audit procedures on listed entities.
Auditors must assess the entity's revenue recognition policies and procedures.
They should also evaluate the effectiveness of internal controls related to revenue recognition.
Auditors must obtain sufficient and appropriate audit evidence to support the entity's revenue recognition.
They should also assess the impact of any changes in revenue reco...
Revenue testing involves applying cut off procedures to ensure accurate reporting of revenue.
Revenue testing is a process of verifying the accuracy of revenue reported in financial statements.
Cut off procedures are applied to ensure that revenue is recorded in the correct period.
Examples of cut off procedures include reviewing sales invoices, shipping documents, and bank statements.
Revenue testing also involves verifyi...
Test of control for audit of trade receivables involves evaluating the effectiveness of internal controls over the accuracy and completeness of trade receivables.
Understand the client's internal control system related to trade receivables
Identify key controls and perform walkthroughs to test their effectiveness
Perform substantive procedures to test the accuracy and completeness of trade receivables
Evaluate the results ...
The major clauses of tax audit report in Form 3CD
The tax audit report in Form 3CD has 18 major clauses
These clauses cover various aspects of the audit, such as accounting policies, depreciation, loans and advances, etc.
Some of the important clauses include Clause 4 (accounting policies), Clause 13 (loans and advances), and Clause 17 (related party transactions)
I applied via Approached by Company and was interviewed before Jun 2022. There were 5 interview rounds.
I appeared for an interview in Jul 2023.
Some of the top questions asked at the KPMG Global Services Associate2 interview -
based on 8 interviews
1 Interview rounds
based on 40 reviews
Rating in categories
Assistant Manager
2.7k
salaries
| ₹11 L/yr - ₹37.5 L/yr |
Consultant
2.7k
salaries
| ₹8.5 L/yr - ₹28 L/yr |
Associate Consultant
2.2k
salaries
| ₹4.7 L/yr - ₹17.8 L/yr |
Analyst
1k
salaries
| ₹1.5 L/yr - ₹9.5 L/yr |
Manager
901
salaries
| ₹16 L/yr - ₹50.9 L/yr |
Deloitte
Ernst & Young
PwC
KPMG India