100+ PwC Associate Interview Questions and Answers

Random forest is an ensemble method using multiple decision trees to improve accuracy and reduce overfitting.

• Random forest is a collection of decision trees that are trained on random subsets of the data.

• Decision tree is a single tree structure that makes decisions by splitting the data based on features.

• Random forest is more robust to overfitting compared to a single decision tree.

• Random forest can handle missing values and outliers better than decision trees.

• Random forest i...read more

TDS must be deposited by the 7th of the following month in which the deduction is made.

• TDS must be deposited by the 7th of the following month in which the deduction is made

• For example, TDS deducted in the month of January must be deposited by the 7th of February

• Late deposit of TDS can attract penalties and interest

GTM stands for Go-To-Market strategy, which outlines how a company will reach customers and achieve competitive advantage.

• GTM strategy includes market segmentation, target audience identification, product positioning, pricing strategy, distribution channels, and promotional tactics.

• Examples of GTM strategies include direct sales, channel partnerships, online marketing, and trade shows.

• Successful GTM strategies align with the company's overall business goals and objectives.

PPM in CMMI stands for Process Performance Management, which involves monitoring and analyzing process performance metrics.

• PPM in CMMI refers to the process of monitoring and analyzing process performance metrics

• It helps organizations to identify areas for improvement and make data-driven decisions

• Examples of PPM in CMMI include tracking defect rates, cycle times, and productivity metrics

Q2C Implementation process involves converting a sales order into a completed transaction.

• Q2C stands for Quote-to-Cash

• Involves creating quotes, managing pricing, generating sales orders, invoicing, and receiving payments

• Integration with CRM and ERP systems for seamless process flow

Materiality refers to the importance or relevance of information in relation to a decision or situation.

• Materiality is a concept used in accounting and auditing to determine the significance of financial information.

• It is based on the principle that only information that is material or relevant to a decision or situation should be disclosed.

• Materiality is subjective and depends on the context of the decision or situation.

• For example, a $1,000 discrepancy in a company's financ...read more

Oops concept stands for Object-Oriented Programming concepts which include principles like inheritance, encapsulation, polymorphism, and abstraction.

• Oops concept is a programming paradigm that focuses on objects and classes.

• It includes principles like inheritance, where a class can inherit properties and methods from another class.

• Encapsulation is another principle where data is kept private within a class and can only be accessed through methods.

• Polymorphism allows objects t...read more

Yes, I am familiar with Python programming language.

• I have experience using Python for data analysis and automation tasks.

• I am comfortable writing scripts and small programs in Python.

• I have used Python libraries like pandas, numpy, and matplotlib for various projects.

Fundamentals of accounting include recording, classifying, and summarizing financial transactions.

• Recording financial transactions involves documenting all financial activities of a business.

• Classifying financial transactions involves categorizing them into different accounts such as assets, liabilities, and equity.

• Summarizing financial transactions involves preparing financial statements such as balance sheets and income statements.

• Other fundamentals include understanding th...read more

Problems faced during articleship

• Long working hours

• Lack of guidance from seniors

• Low stipend

• Unfair treatment by employers

• Difficulty in balancing work and studies

The first PwC employee was Samuel Lowell Price, who joined the firm in 1890.

• Samuel Lowell Price was the first employee of PwC, joining in 1890

• He played a key role in the early growth and success of the firm

• Price was known for his dedication to client service and professionalism

The OSI model is a conceptual framework that standardizes the functions of a telecommunication or computing system into seven layers.

• The OSI model stands for Open Systems Interconnection model.

• It divides network communication into seven layers: Physical, Data Link, Network, Transport, Session, Presentation, and Application.

• Each layer has specific functions and interacts with adjacent layers to facilitate communication.

• For example, the Physical layer deals with the physical co...read more

My interest areas include data analysis, project management, and customer service.

• Data analysis: proficient in Excel and SQL, experience with data visualization tools like Tableau

• Project management: certified in PMP, experience leading cross-functional teams

• Customer service: experience in retail and hospitality industries, strong communication skills

Internal controls are procedures and policies put in place to safeguard assets, ensure accuracy of financial records, and promote operational efficiency.

• Preventive controls

• Detective controls

• Corrective controls

• Directive controls

• IT controls

• Physical controls

Linux OS comes in various flavors tailored for different purposes and user preferences.

• Ubuntu - popular for beginners and general use

• CentOS - known for stability and use in servers

• Debian - focuses on free software and stability

• Fedora - cutting-edge features and frequent updates

• Arch Linux - minimalist and customizable

Standards on Auditing are guidelines and procedures followed by auditors to ensure accuracy and reliability of financial statements.

• Standards on Auditing provide a framework for auditors to conduct their work effectively.

• They help ensure consistency and quality in auditing practices.

• Examples include International Standards on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB).

Remote audit procedures involve conducting audits using technology to assess compliance and performance remotely.

• Utilize video conferencing tools to conduct interviews and virtual tours of facilities

• Request electronic copies of documents and records for review

• Use secure online platforms for sharing sensitive information

• Ensure clear communication and documentation of findings

• Consider potential limitations of remote audits, such as inability to physically inspect equipment

Amortization is the process of spreading out loan payments over time, with a portion of each payment going towards both the principal and interest.

• Amortization helps borrowers pay off a loan gradually over a set period of time.

• Each payment is typically divided into two parts: one portion goes towards reducing the loan balance (principal), and the other portion covers the interest accrued.

• Common examples of amortization include mortgages, car loans, and student loans.

String is immutable while StringBuilder is mutable and more efficient for concatenating multiple strings.

• String is immutable, meaning once created, its value cannot be changed. StringBuilder is mutable, allowing for modifications without creating new objects.

• StringBuilder is more efficient for concatenating multiple strings as it does not create new objects each time a modification is made.

• Use String when the value will not change frequently. Use StringBuilder when there are ...read more

Propose a pricing strategy for an airline.

• Analyze the market demand and competition

• Consider the cost structure and break-even point

• Offer different fare classes and ancillary services

• Implement dynamic pricing based on demand and seasonality

• Use loyalty programs and partnerships to retain customers

The question is asking for 15 forms filled out with the information in columns CA and CB.

• Fill out 15 forms with the information in columns CA and CB

• Ensure accuracy and completeness in filling out the forms

• Double-check the information before submitting the forms

DTA and DTL are accounting terms used to represent deferred tax assets and liabilities, respectively.

• DTA represents future tax benefits that a company can use to reduce its tax liability.

• DTL represents future tax obligations that a company will have to pay.

• DTA is recorded when a company has overpaid taxes or has tax credits that can be used in the future.

• DTL is recorded when a company has underpaid taxes or has tax liabilities that will come due in the future.