PwC Tax Associate 2 Interview Questions, Process, and Tips

Q1. Smallcase study for depreciation adjustments
Ans. 
Depreciation adjustments case study
• Calculate depreciation expense using straight-line method

• Adjust accumulated depreciation for prior years

• Record any disposals or impairments of assets

• Review useful life and salvage value assumptions

• Ensure compliance with accounting standards and tax regulations
Answered by AI
Add your answer
Q2. Favorable adjustments
Ans. 
Favorable adjustments refer to changes made to financial statements that improve the overall financial position of a company.
• Favorable adjustments can include corrections to errors, revaluations of assets, or changes in accounting estimates.

• These adjustments can result in higher revenues, lower expenses, or increased assets on the balance sheet.

• For example, a company may discover an error in its inventory valuation, le...read more
Answered by AI
Add your answer
Q3. Unfavourable adjustments
Ans. 
Unfavourable adjustments refer to changes made to financial statements that negatively impact the company's performance.
• Unfavourable adjustments can include write-downs of assets, increased liabilities, or lower revenue recognition.

• These adjustments are typically made to reflect a more accurate representation of the company's financial position.

• Examples of unfavourable adjustments include recognizing a loss on an inves...read more
Answered by AI
Add your answer
Q4. Form net income line items
Ans. 
Forming net income line items involves categorizing revenues and expenses to calculate the overall profit or loss.
• Identify all sources of revenue, such as sales, services, interest income, etc.

• List all expenses incurred, including salaries, rent, utilities, supplies, etc.

• Subtract total expenses from total revenue to calculate net income.

• Include any adjustments or extraordinary items that affect the final net income fig
Answered by AI
Add your answer

Q1. Salary expectations
Add your answer

Q1. Questions were asked mostly about accounting standards and US Corp Tax Forms: a) what is deferred tax b) journal entry for prepaid rent c) journal entry for deferred laibilty d) explain any M1 adjustment...read more
Add your answer

They asked Quants,LR & accounting basic

Q1. Internship related & mba subjects related questions they asked
Add your answer
Q2. Private equity, hedge funds & accounts
Add your answer

Q1. Why you want to join pwc?
Add your answer
Q2. Will you able to stretch
Add your answer