Fixed Asset Accountant Mock Interview

Master 30 Fixed Asset Accountant interview questions covering depreciation, capitalization policies, and reconciliations.

Question 10 of 30

Do you have experience working with external auditors?

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Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

A key responsibility of an accountant is to interact with and assist the external auditors. You may be asked to assist with walkthroughs, which are interviews where the auditor documents the processes you follow each month, as part of their assessment of internal controls. You may also be asked to either provide existing schedules (bank reconciliations, debt schedules, etc) or prepare schedules for the audit.

Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

"Yes, in my last role I interacted with our external auditors frequently and in a variety of ways. First, as part of their assessment of internal controls, I would sit down with them to complete walkthroughs of the processes I follow each month. Additionally, I would prepare schedules that they would test as part of their audit. Examples of these schedules include balance sheet reconciliations and amortization schedules for our intangible assets. Finally, I would prepare draft footnote schedules for the audited financial statements. I believe it's very important to have a good working relationship with the organization's auditors."

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30Fixed Asset Accountant Interview Questions & Answers

Behavioral

1.Are you a detail-oriented person?

Behavioral

2.What have you done recently to become a better accountant?

Technical

3.What is Section 179 Expense?

Technical

4.What are the differences between accrual accounting and cash accounting?

Technical

5.What are the three main financial statements and what do they indicate about an organizationâ€™s financial position?

Behavioral

6.How would you handle working in an increasingly remote work environment?

Behavioral

7.Do you have experience explaining complex accounting concepts to non-financial personnel?

Technical

8.Why is depreciation expense considered a non-cash expense?

Behavioral

9.How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

Technical

10.Do you have experience working with external auditors?

Technical

11.What are the steps involved in the accounting close process?

Technical

12.How are fixed asset purchases accounted for to comply with the matching principle (recognizing expense in the period incurred)?

Behavioral

13.Why did you want to become an accountant?

Technical

14.What is an impairment of a fixed asset and what is the accounting treatment?

Behavioral

15.What do you do when you donâ€™t know the answer to something?

Technical

16.What accounting software are you familiar with?

Behavioral

17.What have you done at your previous job to reduce costs or save time?

Behavioral

18.Are you willing to work extra hours, if needed, during busier times?

Behavioral

19.Are you open to travel with this role?

Behavioral

20.How do you mitigate and manage stress?

Technical

21.Are you proficient in Excel?

Technical

22.What is the fixed asset turnover ratio and how is it calculated?

Behavioral

23.What are some methods you use to self-review your work?

Behavioral

24.What is your comfort level interacting and communicating with senior leadership?

Technical

25.What are some examples of internal controls that impact fixed assets?

Technical

26.Please rank these asset classes in order from shortest useful life to longest: Leasehold improvements, computer, and furniture.

Technical

27.What types of costs should be capitalized when an asset is purchased or acquired?

Technical

28.After acquisition of a fixed asset, are there any instances when additional costs related to the fixed asset can be capitalized?

Technical

29.What are some examples of startup costs that should be capitalized when a new business is launching?

Technical

Fixed Asset Accountant Mock Interview

Do you have experience working with external auditors?

30Fixed Asset Accountant Interview Questions & Answers

1.Are you a detail-oriented person?

2.What have you done recently to become a better accountant?

3.What is Section 179 Expense?

4.What are the differences between accrual accounting and cash accounting?

5.What are the three main financial statements and what do they indicate about an organizationâ€™s financial position?

6.How would you handle working in an increasingly remote work environment?

7.Do you have experience explaining complex accounting concepts to non-financial personnel?

8.Why is depreciation expense considered a non-cash expense?

9.How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

10.Do you have experience working with external auditors?

11.What are the steps involved in the accounting close process?

12.How are fixed asset purchases accounted for to comply with the matching principle (recognizing expense in the period incurred)?

13.Why did you want to become an accountant?

14.What is an impairment of a fixed asset and what is the accounting treatment?

15.What do you do when you donâ€™t know the answer to something?

16.What accounting software are you familiar with?

17.What have you done at your previous job to reduce costs or save time?

18.Are you willing to work extra hours, if needed, during busier times?

19.Are you open to travel with this role?

20.How do you mitigate and manage stress?

21.Are you proficient in Excel?

22.What is the fixed asset turnover ratio and how is it calculated?

23.What are some methods you use to self-review your work?

24.What is your comfort level interacting and communicating with senior leadership?

25.What are some examples of internal controls that impact fixed assets?

26.Please rank these asset classes in order from shortest useful life to longest: Leasehold improvements, computer, and furniture.

27.What types of costs should be capitalized when an asset is purchased or acquired?

28.After acquisition of a fixed asset, are there any instances when additional costs related to the fixed asset can be capitalized?

29.What are some examples of startup costs that should be capitalized when a new business is launching?

30.What is the Sum-of-the-Years Digits Method of depreciation and what is the reasoning for using the method, as opposed to standard depreciation?