Ernst & Young Senior Associate Interview Questions and Answers

Key factors in legal research include relevance, jurisdiction, authority, and thoroughness to ensure accurate legal conclusions.

• Relevance: Ensure the sources directly relate to the legal issue at hand. For example, if researching contract law, focus on cases and statutes specific to contracts.

• Jurisdiction: Understand the applicable jurisdiction as laws can vary significantly. For instance, a law in California may ...read more

The proposal lifecycle encompasses the stages from initial idea to final submission and evaluation of a proposal.

• Initiation: Identify the need for a proposal, such as responding to a request for proposal (RFP) from a client.

• Research: Gather relevant information and data to support the proposal, including market analysis and competitor insights.

• Drafting: Create the proposal document, outlining objectives, methodolo...read more

As an EY Professional, I propose a business case focusing on enhancing client value through innovative solutions and strategic insights.

• Client-Centric Approach: Tailoring services to meet specific client needs, such as customized financial audits that identify unique risks and opportunities.

• Data Analytics: Utilizing advanced data analytics to provide clients with actionable insights, improving decision-making and ...read more

Agile is a project management methodology that emphasizes flexibility, collaboration, and iterative development.

• Agile involves breaking down projects into smaller tasks called sprints

• It promotes frequent communication and collaboration among team members

• Adapting to changes and feedback quickly is a key principle of Agile

• Common Agile frameworks include Scrum, Kanban, and Extreme Programming

Performance obligation is a promise to transfer goods or services to a customer.

• Performance obligation is a key concept in revenue recognition under IND AS 15.

• It refers to a promise to transfer goods or services to a customer.

• The promise must be distinct and capable of being fulfilled.

• Revenue is recognized when the performance obligation is satisfied.

• Examples include sale of goods, provision of services, and const...read more

Leases as per IND AS 16

• IND AS 16 prescribes accounting for leases by lessees and lessors

• Leases are classified as finance or operating leases

• Finance leases result in recognition of an asset and liability on the balance sheet

• Operating leases result in recognition of lease expense on the income statement

• Lease term, lease payments, and discount rate are key factors in lease accounting

• Sale and leaseback transactions ar...read more

To publish a dashboard, first select a platform or tool, design the dashboard with relevant data and visualizations, and then share it with intended audience.

• Choose a platform or tool such as Tableau, Power BI, or Google Data Studio

• Design the dashboard with relevant data and visualizations that effectively communicate insights

• Ensure the dashboard is user-friendly and easy to navigate

• Publish the dashboard to a secu...read more

Supply chain consulting involves optimizing and improving the flow of goods and services from suppliers to customers.

• Supply chain consulting focuses on analyzing and improving the efficiency of the supply chain process.

• It involves identifying bottlenecks, reducing costs, and enhancing customer satisfaction.

• Consultants may suggest strategies for inventory management, transportation, and distribution.

• They may also r...read more