Recruiter's Glossary

Examples: Income Statement • Transfer Pricing • Accounts Payable

Fixed Assets

Term from Accounting industry explained for recruiters

Fixed Assets refers to long-term company property like buildings, equipment, vehicles, and machinery that a business owns and uses for more than one year. Accountants track these items because they're valuable company investments that lose value over time (called depreciation). This area of accounting helps businesses know what they own, how much it's worth, and plan for replacing or maintaining these items. When you see this term in resumes, it usually means the person has experience managing, tracking, or accounting for these important company possessions.

Examples in Resumes

Managed Fixed Assets accounting for a manufacturing company with over $10M in equipment

Implemented new Fixed Asset tracking system reducing audit preparation time by 40%

Supervised Fixed Assets and depreciation calculations for 12 company locations

Typical job title: "Fixed Asset Accountants"

Also try searching for:

Fixed Asset Accountant Asset Accountant Property Accountant Capital Asset Manager Fixed Asset Coordinator Fixed Asset Analyst Asset Management Specialist

Where to Find Fixed Asset Accountants

Professional Associations

Job Boards

Professional Networks

Example Interview Questions

Senior Level Questions

Q: How would you handle a major fixed asset system implementation across multiple locations?

Expected Answer: Look for answers showing experience in project management, system transitions, training staff, and ensuring accurate data transfer. They should mention creating procedures, timeline planning, and risk management.

Q: How do you ensure compliance with tax regulations while managing fixed assets?

Expected Answer: The candidate should discuss familiarity with tax laws, depreciation methods, and maintaining proper documentation. They should mention experience with audits and working with tax authorities.

Mid Level Questions

Q: What methods do you use to track and manage fixed asset disposals?

Expected Answer: They should explain the process of recording sales or disposals of assets, calculating gains or losses, and updating asset registers. Should mention documentation requirements and approval processes.

Q: How do you handle annual fixed asset physical counts?

Expected Answer: Look for experience in organizing inventory counts, reconciling differences, updating records, and working with department managers to verify asset existence and condition.

Junior Level Questions

Q: Can you explain what depreciation is and the common methods used?

Expected Answer: Should be able to explain that depreciation is how assets lose value over time, and describe basic methods like straight-line and declining balance in simple terms.

Q: What information do you need to record a new fixed asset?

Expected Answer: Should mention basic details like purchase date, cost, description, location, asset category, and estimated useful life. Should understand the concept of capitalization thresholds.