Inventory Accountant Mock Interview
Master 25 Inventory Accountant interview questions covering GAAP, variance analysis, and cost accounting systems.
Question 25 of 25
What are some examples of internal controls that impact inventory?
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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.
Internal controls for inventory is vital for businesses of any size, as the company needs to make sure they have goods available to sell to their customers. There are internal controls that help with tracking (bar-codes, inventory numbers), security (locks, security codes), and audits (physical inventory counts, obsolescence reviews).
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.
"There are many examples of internal controls that would impact my role. For example, there are audit controls that help with auditing the inventory balance, such as physical inventory counts and obsolescence reviews. Other controls center around asset security, such as locks and security clearances. Finally, there are tracking controls such as barcode setup and inventory numbering systems."
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