Nangia & Co. LLP Associate Interview Questions and Answers

Test was about taxation, accounting and management.

Q1. Are there any differences between Tax Profit and Accounting Profit?
Ans. 
Yes
• Tax profit and accounting profit are different concepts in finance.

• Tax profit refers to the profit calculated for tax purposes, taking into account tax laws and regulations.

• Accounting profit, on the other hand, is the profit calculated based on generally accepted accounting principles (GAAP).

• Tax profit can be higher or lower than accounting profit depending on various factors such as tax deductions, credits, and all...read more
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Q2. Explain Accounting concepts?
Ans. 
Accounting concepts are principles and guidelines used in financial accounting to ensure accurate and consistent reporting.
• Accounting concepts include the accrual concept, consistency concept, materiality concept, and going concern concept.

• The accrual concept requires that revenue and expenses be recorded when they are earned or incurred, regardless of when payment is received or made.

• The consistency concept requires t...read more
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Q1. Questions about Personal and Family background
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Q1. HR asked about your profile.
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Q1. Written test include some technical ,mail writing
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Q1. Virtual interview of technical questions included accountancy, taxation,audit
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Q1. Basics of accounting
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Q2. Finance and auditing basics
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