The job description of a Fixed Assets Accounting Associate entails a number of different work activities contained in an organization’s end-to-end Accounting Record to Report (RTR) procedure.
In some organizations, the fixed assets accounting associate reports to the Record to Report Accounting Manager and is responsible for preparing their organization’s monthly reconciliation and analysis reports, as well as its Asset Management reconciliation.
The role also includes performing accurate recording of all fixed assets, such as the transfer, disposition, depreciation and amortization concerning such assets following the policy of the company.
He/she will ensure proper fixed asset balances in the general and sub-ledger for the purpose of tax processes and for proper documentation.
He/she will work with other associates from the finance and operations office to ensure capital expenditures are properly classified, and also to ensure tracking by project.
Other duties of this position include carrying out accurate and regular use of the organization’s policy on fixed asset, including entering the fixed asset into sub-ledger firstly, assigning depreciable life, and monitoring fixed assets continuously.
The associate responsible for fixed assets accounting will carry out various fixed asset reporting to several departments in the company, as well as to parent companies.
Fixed Assets Accounting Associate Job Description Example/Sample/Template
Working as a fixed assets accounting associate in most establishments would entail performing the job description example below.
Here is a list of important tasks, duties, and responsibilities associates responsible for fixed assets accounting usually perform.
- Take record of the accounting system of fixed asset acquisitions and dispositions made by the organization
- Recommend any update to accounting policies involving fixed assets to management
- Identify and place ongoing project costs in fixed asset accounts, then close out the accounts at the completion of the projects
- Perform reconciliation of summary-level account in the general ledger with the balance in the fixed asset subsidiary ledger
- Compute the depreciation or amortization for all fixed assets
- Evaluate and renew the complete schedule of all fixed assets and the accumulated depreciation
- Ensure the preparation of Fixed Asset roll forward files every quarter
- Carry out analysis on fixed assets following request from the management
- Arrange for audit schedules for fixed assets and provide assistance to auditors to do their work
- Actively participate in monthly, quarterly, and yearly accounting close processes by performing activities, including account reconciliations, journal entry preparations, management reports, as well as other financial analyses and reports that may be required by the management
- Participate in the making and distribution of accounting management reports, as well as statistical analysis each month
- Ensure accounting information is provided timely and accurately to internal customers without notice.
Fixed Assets Accounting Associate Job Description for Resume
A resume to be used in seeking the job of fixed assets accounting associate can be produced with the information in the job description sample above.
The work history section of such resumes can be prepared with the functions and responsibilities listed above.
Fixed Assets Accounting Associate Requirements – Knowledge, Skills, and Abilities
To succeed on the job, accounting associates working on fixed assets are usually required to possess the following attributes and backgrounds, including skills, knowledge, and abilities that will enable them to discharge their duties effectively:
- Having a Bachelor’s degree in any field related to Accounting from a recognized school
- Strong Knowledge of fixed asset accounting, and experience of three or more years of multi-state, multi-country, or multi-company operations
- Experience working with R12 preferred, but a strong plus with Oracle
- Ability to work together with four or more external auditors at the same time
- Ability to function at a detailed level and relate effectively with all facets of the organization
- Ability to work either as an individual or in a team environment effectively
- Profound Excel skills, including proficiency working with pivot tables, as well as with V look up
- Strong logical reasoning and ability to perform multiple tasks and deliver work assignments accurately and on time
- Ability to initiate ideas to streamline and improve accounting process in addition to strong communication (both in writing and speaking) and organizational skills.