PwC Assurance Associate Interview Questions, Process, and Tips for Experienced

Q1. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit all expenses and losses, Credit all incomes and gains.

• These rules help ensure that financial transactions are accurately recorded and classified.

• For example, when a company receives cash...read more
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Q2. What is contingent liabilities?
Ans. 
Contingent liabilities are potential liabilities that may arise in the future depending on the outcome of uncertain events.
• Contingent liabilities are not recorded on the balance sheet but disclosed in the footnotes.

• They are dependent on the occurrence of a specific event, such as a lawsuit or warranty claim.

• Examples include pending lawsuits, product warranties, and guarantees on loans.

• Companies must assess the likeliho...read more
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Q3. What do you mean by "audit"?
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Audit is a systematic examination of an organization's financial records to ensure accuracy and compliance with regulations.
• Audit involves reviewing financial statements, transactions, and internal controls.

• The purpose of an audit is to provide assurance to stakeholders that the financial information is reliable.

• Auditors must be independent and objective in their assessments.

• Examples of audits include external audits c...read more
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Q4. Explain vlookup function
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VLOOKUP is a function in Excel used to search for a value in a table and return a corresponding value from another column.
• Used to search for a value in the first column of a table and return a value in the same row from a specified column

• Requires four arguments: lookup_value, table_array, col_index_num, and range_lookup

• Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - searches for the value in cell A2 in the range B2:D10 and r...read more
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Q5. Explain pivot table
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A pivot table is a data summarization tool used in spreadsheet programs where data can be rearranged and summarized in various ways.
• Pivot tables allow users to quickly summarize and analyze large amounts of data

• Users can rearrange rows and columns to see different perspectives of the data

• Users can apply filters, sort data, and perform calculations within the pivot table

• Pivot tables are commonly used in Excel for financ...read more
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Q1. Brief introduction about yourself
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Q2. Are you okay with long working hours during the busy season
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Q3. What is your strength?
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Q4. What is your weakness?
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Q1. What is your expected salary?
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Q1. Excel,Accounting and Audit
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Q2. Accounting,finance,
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Q3. Excel,account,word
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Q4. Excel,finance,powerpoint
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Q5. Accounts,excel,word
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Work on some excel formula

Q1. Interview with senior manager
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Q1. General behaviour questions
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