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I applied via Company Website and was interviewed in Dec 2024. There was 1 interview round.
Types of leases under Ind AS 116 include finance leases and operating leases.
Finance leases involve transferring substantially all risks and rewards of ownership to the lessee.
Operating leases do not transfer risks and rewards of ownership to the lessee.
Examples of finance leases include long-term equipment leases, while examples of operating leases include short-term office space rentals.
Debtor O/s from 3 years should be investigated thoroughly and disclosed appropriately in the audit report.
Review the aging of the debtor and assess the collectability of the outstanding amount.
Investigate the reasons for the outstanding balance, such as disputes, credit terms, or financial difficulties.
Consider the need for a provision for bad debts if the debt is deemed uncollectible.
Disclose the details of the debtor...
Steps followed while auditing Sundry Creditors
Verify the existence of the creditors by confirming with the company's records
Review the aging schedule to ensure accuracy of outstanding balances
Check for any unrecorded liabilities or duplicate payments
Confirm balances with creditors through direct communication or statements
Investigate any significant discrepancies or unusual transactions
1.What Strategy Do I Use When Auditing?
2.What is the role as a senior Auditor?
3.What are the differences between strategic control and operational control
I applied via LinkedIn and was interviewed in Aug 2022. There were 3 interview rounds.
I applied via Company Website and was interviewed before Apr 2023. There were 2 interview rounds.
Numeeucal, logical reasoning and essay on general topic questions
Double entry is a fundamental accounting concept where every transaction has equal and opposite effects on at least two accounts.
Every transaction involves at least two accounts - one account is debited and another account is credited.
Debits and credits must always balance, ensuring the accounting equation (Assets = Liabilities + Equity) remains in equilibrium.
Double entry system helps in maintaining accuracy and preve...
There are four main financial statements: balance sheet, income statement, cash flow statement, and statement of changes in equity.
Balance sheet shows a company's assets, liabilities, and equity at a specific point in time.
Income statement shows a company's revenues and expenses over a period of time.
Cash flow statement shows how cash and cash equivalents flow in and out of a company.
Statement of changes in equity show...
A vatable sale is recorded by issuing a sales invoice with VAT included and recording the VAT separately.
Issue a sales invoice with the total amount including VAT
Separately record the VAT amount charged to the customer
Ensure the VAT amount is correctly calculated based on the applicable rate
Include the VAT amount in the total sales revenue for reporting purposes
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posted on 10 Oct 2024
I want to work with BakerTilly because of their reputation for providing top-notch data analysis services and their commitment to professional development.
BakerTilly has a strong reputation in the industry for providing high-quality data analysis services.
I am impressed by BakerTilly's commitment to professional development and continuous learning opportunities for employees.
I believe that working at BakerTilly will pr...
I was interviewed in Mar 2022.
Valuations can be of various types depending on the purpose and method used.
Asset-based valuation
Market-based valuation
Income-based valuation
Liquidation valuation
Replacement cost valuation
Equity represents ownership in a company, while enterprise value represents the total value of a company.
Equity is the residual interest in the assets of a company after liabilities are paid off
Enterprise value is the sum of equity, debt, minority interest, and preferred stock minus cash and cash equivalents
Equity is used to calculate metrics such as return on equity and price-to-book ratio
Enterprise value is used to c...
Comparable company analysis compares multiples of similar public companies while comparable transaction analysis compares multiples of similar M&A deals.
Comparable company analysis is based on multiples of similar public companies
Comparable transaction analysis is based on multiples of similar M&A deals
Comparable company analysis is more commonly used
Comparable transaction analysis is more accurate but harder to find d...
I applied via Company Website and was interviewed before Dec 2021. There were 3 interview rounds.
Risk of material misstatement procedure is a process to identify and assess the risk of errors or fraud in financial statements.
The procedure involves understanding the entity and its environment, including internal controls.
It also includes assessing the risks of material misstatement due to fraud or error.
The auditor then designs and performs audit procedures to address the identified risks.
Examples of procedures inc...
I applied via Campus Placement and was interviewed in Jan 2024. There were 2 interview rounds.
Can artifical intelligence replace humans
I applied via Naukri.com and was interviewed in Feb 2024. There was 1 interview round.
P2P process stands for procure-to-pay process, which involves the steps from requisition to payment for goods or services.
Requisition: Requesting the purchase of goods or services
Purchase Order: Formal document outlining the details of the purchase
Receipt of Goods/Services: Confirming delivery and quality
Invoice Processing: Verifying the invoice against the purchase order and receipt
Payment: Issuing payment to the vend
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