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RSM US in India
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I applied via Campus Placement and was interviewed in Jan 2024. There were 3 interview rounds.
1 hour aptitude test
Topic was work from home or work from office
I applied via Campus Placement and was interviewed before Aug 2023. There were 3 interview rounds.
They have given a pre processed financial statements which needs to be filled using various given particulars, Email writing was also part of the test.
They have given a Particular topic and divided the teams into 6 and expected us to share our opinion on that
Audit is a systematic examination of an organization's financial records, transactions, and processes to ensure accuracy and compliance with regulations.
Audit involves reviewing financial statements, transactions, and internal controls.
It helps identify errors, fraud, and areas for improvement in the organization.
Auditors provide an independent opinion on the fairness of the financial statements.
Types of audits include...
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
Golden rule of accounting states that Debit what comes in and Credit what goes out.
It helps in maintaining the balance in the accounting equation.
For example, when cash is received, it is debited because it comes into the business.
Similarly, when cash is paid out, it is credited because it goes out of the business
I applied via LinkedIn and was interviewed before May 2023. There were 2 interview rounds.
It is the general apti test prepare for math's and accounts questions
Top trending discussions
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
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 Referral and was interviewed in Oct 2023. There was 1 interview round.
I applied via Referral and was interviewed in Oct 2023. There were 2 interview rounds.
Audit of specified accounts involves examining specific financial accounts to ensure accuracy and compliance.
Identify the specified accounts to be audited based on risk assessment
Review transactions and balances related to the specified accounts
Perform substantive testing to verify the accuracy of the accounts
Document findings and communicate any discrepancies to management
Ensure compliance with relevant accounting sta
Current assets are assets that are expected to be converted into cash or used up within one year, while financial assets are assets that are traded in financial markets.
Current assets include cash, accounts receivable, inventory, and prepaid expenses
Financial assets include stocks, bonds, derivatives, and other securities
Current assets are used in day-to-day operations of a business, while financial assets are typicall
Materiality is determined by considering the impact of an error on financial statements and users' decision-making.
Consider the size and nature of the item in relation to the financial statements
Assess the potential impact on users' decision-making
Take into account regulatory requirements and industry standards
Use professional judgment to determine materiality thresholds
Materiality can vary based on the specific circum
Audit of Fixed Assets involves verifying existence, ownership, valuation, and physical condition of assets.
Reviewing the fixed assets register to ensure all assets are recorded accurately
Physically inspecting the assets to verify their existence and condition
Checking ownership documents to confirm legal ownership of the assets
Evaluating the valuation method used for fixed assets to ensure it complies with accounting st...
I applied via Approached by Company and was interviewed in Sep 2023. There was 1 interview round.
Optimisation involves finding the best solution to a problem by maximizing or minimizing a certain objective function.
Identify the objective function to be optimized
Define constraints that need to be satisfied
Choose an optimization algorithm such as gradient descent or genetic algorithms
Iteratively improve the solution until the optimal solution is found
based on 4 interviews
1 Interview rounds
based on 7 reviews
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