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Amortization is for intangible assets, while depreciation is for tangible assets.
Amortization is the process of spreading the cost of an intangible asset over its useful life.
Depreciation is the process of allocating the cost of a tangible asset over its useful life.
Examples of intangible assets that are amortized include patents, copyrights, and trademarks.
Examples of tangible assets that are depreciated include ...
Debt issuance cost/loan processing fees/transaction cost are capitalized and amortized over the life of the loan.
Debt issuance cost/loan processing fees/transaction cost are costs incurred in obtaining a loan.
These costs are capitalized and amortized over the life of the loan.
The amortization of these costs reduces the effective interest rate of the loan.
The accounting treatment for these costs is in accordance wi...
Property, plant and equipment can be tested through physical inspection, documentation review and analytical procedures.
Perform a physical inspection of the assets to ensure they exist and are in good condition
Review documentation such as purchase invoices, maintenance records and depreciation schedules
Perform analytical procedures such as comparing the current year's depreciation expense to prior years
Consider te...
Assertions for Accounts Payable and testing unrecorded liabilities.
Assertions for Accounts Payable include completeness, accuracy, existence, valuation, and rights and obligations.
To test for unrecorded liabilities, perform a search for unrecorded liabilities by reviewing vendor invoices, purchase orders, and receiving reports.
Another way to test for unrecorded liabilities is to review subsequent cash disbursement...
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Types of sampling include random, systematic, stratified, and cluster. Test of details involves examining individual transactions while substantive analytical procedures involve analyzing trends and ratios.
Random sampling involves selecting items randomly from the population.
Systematic sampling involves selecting items at regular intervals.
Stratified sampling involves dividing the population into subgroups and sel...
ASC 606 is a revenue recognition standard that outlines principles for recognizing revenue from customer contracts.
Revenue is recognized when a customer obtains control of a good or service
Revenue should be recognized over time if the customer receives benefits as the work progresses
Testing revenue involves verifying that revenue is recognized in accordance with ASC 606
This can include reviewing contracts, invoice...
I applied via Campus Placement and was interviewed before Jun 2023. There was 1 interview round.
Amortization is for intangible assets, while depreciation is for tangible assets.
Amortization is the process of spreading the cost of an intangible asset over its useful life.
Depreciation is the process of allocating the cost of a tangible asset over its useful life.
Examples of intangible assets that are amortized include patents, copyrights, and trademarks.
Examples of tangible assets that are depreciated include build...
I applied via Naukri.com and was interviewed in Mar 2021. There were 4 interview rounds.
ASC 606 is a revenue recognition standard that outlines principles for recognizing revenue from customer contracts.
Revenue is recognized when a customer obtains control of a good or service
Revenue should be recognized over time if the customer receives benefits as the work progresses
Testing revenue involves verifying that revenue is recognized in accordance with ASC 606
This can include reviewing contracts, invoices, an...
Assertions for Accounts Payable and testing unrecorded liabilities.
Assertions for Accounts Payable include completeness, accuracy, existence, valuation, and rights and obligations.
To test for unrecorded liabilities, perform a search for unrecorded liabilities by reviewing vendor invoices, purchase orders, and receiving reports.
Another way to test for unrecorded liabilities is to review subsequent cash disbursements aft...
Debt issuance cost/loan processing fees/transaction cost are capitalized and amortized over the life of the loan.
Debt issuance cost/loan processing fees/transaction cost are costs incurred in obtaining a loan.
These costs are capitalized and amortized over the life of the loan.
The amortization of these costs reduces the effective interest rate of the loan.
The accounting treatment for these costs is in accordance with th...
Types of sampling include random, systematic, stratified, and cluster. Test of details involves examining individual transactions while substantive analytical procedures involve analyzing trends and ratios.
Random sampling involves selecting items randomly from the population.
Systematic sampling involves selecting items at regular intervals.
Stratified sampling involves dividing the population into subgroups and selectin...
I applied via Referral and was interviewed in Feb 2021. There were 5 interview rounds.
I applied via Recruitment Consultant and was interviewed in May 2019. There were 3 interview rounds.
I applied via Company Website and was interviewed before Mar 2021. There were 2 interview rounds.
Online aptitude test with English grammar and math skills
posted on 12 Dec 2015
I applied via Referral
Leadership is the ability to inspire and guide a team towards a common goal.
Setting a clear vision and goals for the team
Communicating effectively with team members
Motivating and empowering team members
Leading by example
Encouraging collaboration and teamwork
Taking responsibility for team successes and failures
Providing constructive feedback and coaching
Adapting to changing circumstances and making tough decisions
Buildi...
I introduced a new project management tool and streamlined the communication process.
Implemented a project management tool to track progress and deadlines
Created a communication plan to ensure all team members were informed and updated
Established regular check-ins to monitor progress and address any issues
Encouraged collaboration and teamwork to improve efficiency
Trained team members on the new tool and communication p...
Yes, overall happy but would change some decisions.
I am content with my career choice but would have pursued a different major in college.
I am happy with my relationships but would have ended some toxic ones earlier.
I am satisfied with my current location but would have traveled more in my younger years.
I am grateful for my experiences but would have taken more risks and stepped out of my comfort zone.
ISB and ITC offer unique opportunities for growth and development that an MBA after IIT may not provide.
ISB offers a diverse and experienced cohort, world-class faculty, and a strong alumni network.
ITC is a renowned company with a strong focus on sustainability and social responsibility.
An MBA after IIT may not provide the same level of exposure to industry leaders and practical business experience.
ISB and ITC align wi...
Developed and implemented a new project management system resulting in a 20% increase in project efficiency.
Identified inefficiencies in current project management system
Researched and evaluated potential solutions
Collaborated with team to design and implement new system
Provided training and support to team members
Measured and analyzed results, resulting in a 20% increase in project efficiency
McKinsey and BCG interviews differ in their approach and focus.
McKinsey focuses more on structured problem-solving and case interviews.
BCG emphasizes on fit and personal experience.
McKinsey interviews are more quantitative and analytical.
BCG interviews are more qualitative and behavioral.
Both firms have their unique interview styles and evaluation criteria.
As a team leader at XYZ Corp, I led a team of 10 in a project to increase sales by 20% in 6 months.
Led a team of 10 in a sales project at XYZ Corp
Developed and implemented strategies to increase sales by 20% in 6 months
Provided guidance and support to team members to achieve project goals
Monitored progress and made adjustments as needed to ensure success
Facilitated communication and collaboration among team members
Reco...
My leadership style is collaborative and empowering.
I believe in involving team members in decision-making processes
I encourage open communication and feedback
I provide support and resources to help team members succeed
I lead by example and set high standards for myself and others
I recognize and celebrate team members' achievements
For example, when working on a project, I would gather input from all team members and as...
Implemented a new customer service system resulting in a 20% increase in customer satisfaction
Developed and implemented a new customer service system
Conducted training sessions for customer service representatives
Monitored customer feedback and made necessary improvements
Increased customer satisfaction by 20%
My long term goal is to become a senior associate in the company. My short term goal is to improve my skills and knowledge in the field.
Long term goal: Senior associate position
Short term goal: Skill and knowledge improvement
Examples: Attend training sessions, take online courses, seek mentorship
Some of the top questions asked at the PwC Senior Audit Associate interview -
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Senior Associate
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Associate
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| ₹8 L/yr - ₹14 L/yr |
Manager
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Senior Consultant
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Associate2
4.7k
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| ₹7.5 L/yr - ₹14 L/yr |
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