Deputy Manager - Fixed Asset Accounting

Be the First to Apply Job Description Deputy Manager - Fixed Asset AccountingWork to ensure the entire fixed asset lifecycle from acquisition to disposal, including capitalization, depreciation, amortization, retirements, and transfers is done on time •Reconcile fixed asset Subledgers to the general ledger. •Prepare journal entries for fixed asset transactions. •Prepare reports on fixed asset activity, including depreciation expense and changes in asset values. •Help the site teams with data required for Physical fixed assets verification •Ensure accurate and up-to-date fixed asset records in SAP, including asset master data, depreciation schedules, and transaction history. •Interface with other departments, such as accounting, operations, and IT, on fixed asset matters. •Stay up-to-date on changes in fixed asset accounting standards and regulations. •Prepare and analyze fixed asset reports after the accounting period close •Ensure all fixed asset accounting procedures are documented and kept up to date with proper sign off’s •Troubleshoot and resolve fixed asset accounting issues. •Provide support and training to other staff on fixed asset accounting matters. •Support Stat/Internal, and other audits with data and clarifications required on Fixed Assets processKey Responsibilities Manage budget allocation and budget transfers in SAP Investment Management (IM) and Project Systems (PS) modules for capital expenditure (CAPEX) requisitions. Maintain the Capital Work-in-Progress (CWIP) tracker to ensure accurate recording, monitoring, and reconciliation of project additions, transfers, and closures. Coordinate with site finance and project teams to ensure timely capitalization of due and overdue CAPEX projects. Initiate and execute asset capitalization processes in SAP PS module. Analyze CJIC line items and ensure accurate assignment of asset classes for capitalization. Calculate, review, and post monthly depreciation in compliance with the Companies Act, applicable accounting standards, and company policies. Maintain and reconcile the Fixed Asset Register (FAR) on a regular basis. Perform capital commitment analysis and provide periodic management reports. Review and account for foreign exchange gains/losses related to CAPEX projects. Ensure availability and completeness of supporting documentation for all capitalized projects and maintain audit-ready records at all times. Support internal, statutory, and tax audits by preparing schedules, reconciliations, and supporting documentation, including extraction and verification of invoices, purchase orders (POs), goods receipt records, capitalization documents, asset master data, and other relevant CAPEX-related records. Coordinate with procurement, project, and site finance teams to obtain audit evidence and ensure timely submission of audit requirements.