A fixed asset accountant is accountable for recording the cost of newly-acquired fixed assets (both tangible and intangible), tracking existing fixed assets, recording depreciation, and accounting for the disposition of fixed assets. Depending on the capital intensity of a business, the fixed asset accountant may be responsible for tracking and valuing the bulk of its assets.
Key responsibilities Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.
Recommend to management any updates to accounting policies related to fixed assets.
Assign tag numbers to fixed assets.
Record fixed asset acquisitions and dispositions in the accounting system.
Track the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed.
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.
Calculate asset retirement obligations for those fixed assets to which AROs are applicable.
Investigate the potential obsolescence of fixed assets.
Conduct periodic impairment reviews for intangible assets.
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.
Bachelor's degree in accounting preferred. Must be detail oriented.
Fixed asset accounting experience Excellent Office skills, particularly Excel, PowerPoint.
Strong ability to communicate effectively at all levels
Able to manage time effectively within a busy environment whilst having accuracy and close attention to detail
Ability to work as a team player
Demonstrates strong work ethic and ability to work on own initiative