Fixed Asset Accountant
2 weeks ago
GENERAL DESCRIPTION
The asset accountant position is accountable for recording the cost of newly-acquired fixed assets (itemized, non itemized and inventory), tracking existing fixed assets, reporting of capital work in progress, recording depreciation and impairments, and accounting for the retirement/disposals of fixed assets in line with IFRS.
He/She will work closely with the Asset Manager, B.U. Managers, Auditors and other stakeholders to review plant performance and ensure full reconciliation of the asset register. The Asset Accountant will supervise the production and ensure accuracy of the project profitability reports.
KEY RESPONSIBILITIES / ACCOUNTABILITIES
- Create and monitor a system of controls, procedures, and forms for the recording of fixed assets.
- Recommend to management any updates to accounting policies related to fixed assets.
- To ensure proper tag numbers assigned to fixed assets.
- Record fixed asset acquisitions and dispositions in the accounting system.
- Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.
- Calculate depreciation for all fixed assets.
- Review and update the detailed schedule of fixed assets and accumulated depreciation.
- Assess utilisation rate of each asset group and make recommendations to specific GM's
- Investigate the potential obsolescence of fixed assets and inventory.
- Conduct periodic impairment reviews for intangible assets.
- Lead periodic physical inventory counts of fixed assets and inventory.
- Recommend to management whether fixed assets should be disposed of.
- Conduct analyses related to fixed assets as requested by management.
- Prepare audit schedules relating to fixed assets and assist the auditors in their inquiries.
- Track company expenditures for fixed assets in comparison to the capital budget and management authorizations.
- Participate in Planning/Budgeting of Depreciation calculation and Accumulated Depreciation.
- Review and assess subsequent costs and work orders whether capitalizable or not.
- Perform cost-benefit analyses on proposed CAPEX requirement and high value repair & maintenance.
- Oversee the production of Project profitability analysis for projects. Perform the project profitability analysis, implement cost allocation methodologies across the projects for accurate reporting, perform root cause analysis on underperforming projects and/or on reported cost anomalies.
- In charge of arranging Company's Comprehensive Plant & Machinery and inventory Insurance policy.
- Assist with special projects as requested.
- Carry out any other duties as are within the scope, spirit and purpose of the job as requested by the line manager or Head of Department.
QUALIFICATION REQUIREMENTS
- Bachelor's degree in Accounting or related field.
- Qualified Accountant from recognized institution
- Strong knowledge of IFRS
EXPERIENCE REQUIREMENTS
- Minimum 5 years broad finance experience of which two (2) years with an emphasis in fixed assets, management reporting, or auditing.
- Must have minimum 3 year experience in a first tier ERP base financial systems (Oracle, SAP, MS Dynamics…).
- Proficient in Excel and advanced knowledge of the common Microsoft applications, with a keen interest in process analysis, process mapping and automations.
- Strong interpersonal skills, highly analytical and detail oriented.
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