Guidehouse Senior Associate Interview Questions and Answers

Depreciation methods and asset life are important factors in financial accounting.

• Depreciation methods include straight-line, double-declining balance, and units of production.

• Asset life varies by category, such as buildings, vehicles, and equipment.

• The useful life of a building may be 40 years, while a vehicle may have a useful life of 5 years.

• Depreciation is important for accurately reporting the value of assets on f

Materiality refers to the significance or importance of information in relation to a company's financial statements.

• Materiality is a concept used in accounting and auditing.

• It helps determine what information is important enough to be included in financial statements.

• Materiality is based on the amount or nature of the information and its impact on the financial statements.

• For example, a $10,000 error in a company with ...read more

The proposed dividend is currently under review and will be announced at a later date.

• The company is currently reviewing its financials to determine the feasibility of a dividend payout

• The decision on the proposed dividend will depend on various factors such as profitability, cash flow, and future growth prospects

• The announcement of the proposed dividend will be made after the review process is complete