Oracle Tax Analyst Interview Questions and Answers

Cognitive thinking analytical behavioural logical thinking and creativity and calculation

Q1. What is ifrs standard 15
Ans. 
IFRS 15 is a revenue recognition standard that outlines principles for recognizing revenue from contracts with customers.
• IFRS 15 provides a single, comprehensive framework for revenue recognition

• It specifies the criteria for recognizing revenue at an amount that reflects the consideration to which an entity expects to be entitled

• The standard also requires entities to disclose sufficient information to enable users to u...read more
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Q2. Do you know about us gaap to ifrs reconciliation
Ans. 
US GAAP to IFRS reconciliation involves aligning financial statements prepared under US GAAP with those prepared under IFRS.
• US GAAP and IFRS have different accounting standards and principles

• Reconciliation involves adjusting financial statements to ensure they comply with IFRS standards

• Differences in revenue recognition, lease accounting, and financial instruments are common areas requiring reconciliation
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Q1. Why are you interested in Microsoft
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Q2. Tell me about yourself
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Q1. What is your favorite Microsoft product
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Q2. Why does Microsoft still use bing even though it’s not the best product
Ans. 
Microsoft still uses Bing due to its integration with other products, potential for growth, and competition with Google.
• Integration with other Microsoft products like Windows and Office

• Potential for growth in areas like AI and voice search

• Competition with Google to maintain market share
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Social media platforms

Grammar and logical question

Q1. Regarding job roles and responsibilities
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Q1. How to handle the critical questions, how to work on under pressure, process related questions
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Q1. Explain your current role procedure.
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Q2. How do you handle escalations and other challenges?
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Q1. What are your salary expectations ?
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Q1. Basic question about my work profile and jd description.
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Q2. Expected salary and interview scheduled
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Q1. Difference between sumif and coutif
Ans. 
SUMIF is used to sum values based on a single criteria, while COUNTIF is used to count values based on a single criteria.
• SUMIF is used to sum values in a range that meet a certain criteria.

• COUNTIF is used to count the number of cells in a range that meet a certain criteria.

• Example: =SUMIF(A1:A10, ">10") will sum all values in the range A1:A10 that are greater than 10.

• Example: =COUNTIF(B1:B10, "=Red") will count the num...read more
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Q2. Difference between forecast and budget
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Forecast is a prediction of future financial outcomes, while budget is a plan for managing financial resources.
• Forecast is an estimate of future financial performance based on current trends and data.

• Budget is a detailed financial plan for a specific period, outlining expected revenues and expenses.

• Forecasting helps in setting realistic financial goals, while budgeting helps in allocating resources efficiently.

• Forecast...read more
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Q3. Variance analysis reason and trend analysis
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Q4. How will you do forecasting based on previous years data
Ans. 
I will use statistical methods and trend analysis to forecast future financial performance based on previous years data.
• Utilize historical financial data to identify trends and patterns

• Apply statistical techniques such as regression analysis and time series analysis

• Consider external factors that may impact future performance, such as market conditions or industry trends

• Use forecasting models like moving averages or exp
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Q1. 5 types of employees cost
Ans. 
Types of employees cost include salary, benefits, training, turnover, and productivity losses.
• Salary: the amount paid to employees for their work

• Benefits: additional perks provided to employees such as healthcare, retirement plans, and paid time off

• Training: costs associated with training new employees or providing ongoing professional development

• Turnover: expenses related to hiring and onboarding new employees due to ...read more
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Q2. How to save cost for the company if given limited money
Ans. 
To save costs with limited money, focus on reducing unnecessary expenses, negotiating with vendors, optimizing processes, and increasing efficiency.
• Identify and eliminate unnecessary expenses

• Negotiate with vendors for better pricing or discounts

• Optimize processes to reduce waste and improve productivity

• Increase efficiency by streamlining operations and automating tasks
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Project,practical subimmision

Case study is an indepth,examination for particular case real world.

Various scenarios were provided based on revenue, sales, and full-time equivalent (FTE) positions.

Basic aptitude test and basic maths questions answer

Q1. Introduce yourself
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Q2. Tax questions and income tax questions
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