Torchora
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Key Responsibilities and Required Skills for Fixed Asset Accountant

💰 $65,000 - $95,000

AccountingFinanceCorporate Finance

🎯 Role Definition

Are you a meticulous and analytical accounting professional with a passion for tangible assets? We are searching for a driven Fixed Asset Accountant to join our dynamic finance team. In this pivotal role, you will take full ownership of the company's fixed asset portfolio, ensuring the integrity of our financial statements and the efficiency of our asset management processes. You will be the go-to expert for all matters related to capitalization, depreciation, and asset reporting, collaborating across departments to maintain accurate records. This is a fantastic opportunity to make a significant impact on our financial operations and grow your career within a supportive and forward-thinking organization.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Staff Accountant
  • General Ledger Accountant
  • Junior Accountant
  • Accounts Payable/Receivable Specialist with relevant project experience

Advancement To:

  • Senior Fixed Asset Accountant
  • Accounting Manager
  • Assistant Controller
  • Financial Controller

Lateral Moves:

  • Senior General Ledger Accountant
  • Financial Analyst
  • Internal Auditor

Core Responsibilities

Primary Functions

  • Manage and maintain the complete fixed asset lifecycle, including the recording of asset acquisitions, transfers, impairments, and dispositions in the ERP system.
  • Ensure all capital expenditures are accurately capitalized in accordance with the company's capitalization policy and U.S. GAAP.
  • Calculate and record monthly depreciation expenses for all fixed assets, ensuring accuracy and adherence to established depreciation schedules.
  • Perform detailed monthly and quarterly reconciliations of the fixed asset sub-ledger to the general ledger, promptly investigating and resolving any discrepancies.
  • Prepare and maintain comprehensive roll-forward schedules for fixed assets and accumulated depreciation, providing clear visibility into asset movement.
  • Coordinate and execute periodic physical inventory counts of fixed assets, working with operational teams to verify asset existence, location, and condition.
  • Assign asset tags to new acquisitions and maintain a robust asset tagging system to ensure all company property is properly tracked and identified.
  • Prepare and distribute monthly, quarterly, and annual fixed asset reports for management, including capital spending reports, depreciation forecasts, and asset summaries.
  • Analyze and review Construction in Progress (CIP) projects, ensuring timely capitalization of completed assets and accurate tracking of project costs.
  • Act as the primary point of contact for internal and external audit inquiries related to fixed assets, preparing required schedules and providing supporting documentation.
  • Ensure compliance with Sarbanes-Oxley (SOX) controls related to the fixed asset cycle, including maintaining process documentation and supporting control testing.
  • Evaluate asset records for potential impairments and process necessary write-downs or write-offs in compliance with accounting standards.
  • Assist in the preparation of financial statement footnotes and disclosures related to property, plant, and equipment.
  • Research and interpret complex accounting standards (e.g., ASC 842 for leases, ASC 360 for impairments) and apply them to fixed asset transactions.
  • Develop and implement improvements to fixed asset accounting policies, procedures, and systems to enhance efficiency and strengthen internal controls.

Secondary Functions

  • Support the month-end and year-end closing processes by preparing journal entries and account reconciliations beyond the scope of fixed assets as needed.
  • Collaborate with the tax department to provide necessary data for property tax filings and federal/state tax depreciation calculations.
  • Assist in ad-hoc financial analysis and special projects as requested by management to support strategic business decisions.
  • Partner with IT and other departments to facilitate system upgrades or implementations related to the fixed asset module.
  • Provide training and guidance to non-finance personnel on fixed asset policies and procedures, such as the capital expenditure request process.

Required Skills & Competencies

Hard Skills (Technical)

  • Deep understanding of U.S. GAAP, particularly as it relates to property, plant, and equipment (ASC 360) and lease accounting (ASC 842).
  • Proficiency in large-scale ERP systems, with specific experience in fixed asset modules such as SAP (FI-AA), Oracle Fixed Assets, or NetSuite.
  • Advanced Microsoft Excel skills, including pivot tables, VLOOKUPs, SUMIFs, and complex formula creation for data manipulation and analysis.
  • Proven experience with general ledger functions and the month-end/year-end close process.
  • Strong ability to perform detailed account reconciliations and variance analysis with a high degree of accuracy.
  • Experience in preparing audit schedules and interacting with internal and external auditors.
  • Knowledge of Sarbanes-Oxley (SOX) compliance and internal control frameworks.
  • Familiarity with project accounting and managing Construction in Progress (CIP) accounts.
  • Ability to create and maintain clear and concise accounting process documentation.
  • Experience with asset management software and barcode scanning systems for physical inventories.

Soft Skills

  • Exceptional attention to detail and a commitment to delivering accurate and high-quality work.
  • Strong analytical and problem-solving skills, with the ability to research issues and propose effective solutions.
  • Excellent organizational and time management skills, capable of prioritizing tasks and meeting strict deadlines.
  • Clear and effective written and verbal communication skills, able to explain complex accounting concepts to non-financial stakeholders.
  • Proactive and self-motivated with the ability to work independently with minimal supervision.
  • Collaborative team player with strong interpersonal skills to build relationships across various departments.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor’s Degree from an accredited college or university.

Preferred Education:

  • Master's Degree in Accounting or Finance.
  • Certified Public Accountant (CPA) license or candidate status is highly desirable.

Relevant Fields of Study:

  • Accounting
  • Finance

Experience Requirements

Typical Experience Range:

  • 3-5 years of progressive accounting experience, with at least 2 years of direct experience in fixed asset accounting.

Preferred:

  • Experience in a large, multi-entity manufacturing, retail, or technology company with a significant asset base.
  • A combination of public accounting (audit) and private industry experience.
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