Get Real Accounting Experience Beyond the Textbook 

Fix the Books: Asset Management & Process Improvement 

Accounting majors: here's your chance to do actual governmental accounting work, not just shadow someone. You'll audit capital assets, identify financial reporting gaps, and develop recommendations that strengthen internal controls. This is the kind of practical experience that makes your resume stand out when applying for full-time accounting positions. 

The Challenge 

DMV has millions of dollars in capital assets across the Commonwealth—vehicles, equipment, technology, facilities. Keeping accurate records, tracking disposals, and coordinating between Finance, Facilities, and operational units is complex. Communication breakdowns lead to reporting delays and discrepancies. Your job? Find the gaps and fix the processes. 

The Project: Controller's Office - Asset Management Audit 

Conduct a comprehensive capital asset inventory review and develop process improvements for financial reporting and internal controls. 

You'll work on both the accounting side (validating asset records, identifying discrepancies) and the operational side (documenting processes, improving interdepartmental coordination). 

What You'll Do: 

Capital Asset Inventory Review: 

• Review and validate capital asset records across DMV 

• Identify discrepancies, outdated information, and reporting gaps 

• Flag surplus assets and inconsistent useful life assignments 

• Assess risks to financial reporting accuracy and oversight 

• Document inventory issues that impact compliance 

Process Documentation & Analysis: 

• Map current asset reporting and disposition processes 

• Identify communication breakdowns between departments (Finance, Facilities, Risk Management, operational units) 

• Evaluate where delays and errors occur in asset loss reporting 

• Document gaps in accountability and coordination 

Process Improvement Recommendations: 

• Develop practical solutions to improve reporting timeliness 

• Create recommendations for better interdepartmental communication 

• Propose accountability measures and control improvements 

• Design processes that reduce risk and strengthen oversight 

Cross-Departmental Collaboration: 

• Work with Finance, Facilities, and Risk Management teams 

• Present findings and recommendations to management 

• Support implementation of process improvements 

Your Deliverables: 

Asset Inventory Analysis: 

• Comprehensive review of capital asset records 

• Documented discrepancies and reporting gaps 

• Risk assessment for financial reporting 

• Identified surplus assets and valuation issues 

Process Documentation: 

• Current-state process maps for asset reporting 

• Communication breakdown analysis 

• Gap identification in existing procedures 

Improvement Recommendations: 

• Practical solutions for process enhancement 

• Internal control strengthening measures 

• Accountability and coordination improvements 

• Risk mitigation strategies 

Management Presentation: 

• Professional presentation of findings to leadership 

• Implementation roadmap for recommendations 

What You'll Learn: 

Governmental Accounting: 

• Capital asset accounting in public sector 

• Financial reporting requirements and compliance 

• Fixed asset management and depreciation 

• Internal control frameworks 

• Risk assessment and mitigation 

Professional Skills: 

• Asset inventory and reconciliation 

• Process documentation and analysis 

• Cross-functional collaboration 

• Management reporting and presentations 

• Internal control evaluation 

Career-Building Experience: 

• Real governmental accounting work (not simulations) 

• Exposure to multiple departments and functions 

• Professional networking with finance leadership 

• Portfolio of actual analysis and recommendations 

Why This Experience Matters: 

For Accounting Students: This is the practical application of what you're learning in Intermediate Accounting, Governmental Accounting, and Auditing courses. You'll work with real capital assets, actual financial systems, and genuine compliance requirements. When you interview for accounting jobs, you can talk about specific asset reconciliations you performed and process improvements you recommended. 

For CPA Track: If you're planning to sit for the CPA exam, governmental accounting experience is valuable. Understanding capital assets, internal controls, and financial reporting in the public sector strengthens your foundation for FAR and AUD sections. 

Resume Translation: "Conducted capital asset inventory audit and developed process improvement recommendations to strengthen internal controls and financial reporting accuracy for state agency" 

The Reality: 

This work requires attention to detail, analytical thinking, and the ability to work across departments. You'll be dealing with real financial data, actual reporting gaps, and legitimate compliance concerns. It's challenging work, but it's the kind of experience that separates candidates in competitive job markets. 

• 18+ years old 

• Completed at least 2 semesters (24 credit hours) by May 2026 and currently enrolled  

• OR graduated December 2025/May 2026 

• 3.0 GPA minimum 

• Strong analytical and organizational skills 

• Excellent communication abilities (you'll present to management) 

• Proficiency in Microsoft 365 (especially Excel) 

• Detail-oriented with critical thinking skills 

• Available 40 hours/week on-site