Make sure that all assets are present and properly used for business purposes. Periodic verifications help. FA accountant should be always involved in CAPEX decisions. To be effective in keeping up with a company’s fixed assets, tracking existing ones, calculating and recording depreciation, as well as accounting for disposed fixed assets and also involves keeping track of company’s fixed assets by physically going to see them and observing for theft, damages, or other situations that could hamper their functionality.
Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.
Record fixed asset acquisitions and dispositions in the system.
Track and identify a company’s fixed assets by looking at vendor files and reviewing accounts
Having identified an asset, make properly record it.
He/she will maintain separate files with data
such as purchase information.
Performs proper depreciation of recognized assets by estimating their life value as well as salvage
Perform calculate depreciation for all fixed assets by monthly, yearly
Investigate the potential obsolescence of fixed assets
Recommend any updates to accounting policies affecting fixed assets to management
Allocate tag numbers to fixed assets to effectively track them from time to time
Assist with month end closing and provide supporting for audits.
Recommend to management whether fixed assets should be disposed of
Carry out periodic reviews on intangible assets’ impairment
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
Conduct periodic physical inventory counts of fixed assets.
Perform monthly trade inventory counts physically
Ensuring the accounting team is working in the best capacity.
Maintain confidentiality of organizational information
Yong Sheng Global Trading is the new set up trading company which focuses on construction material as cement, steel, electrical equipment and ready mixed concrete. We aim to be leader in the industry.
ii. Knowledge, Skills & Experience
Minimum 2 years Strong knowledge and experience of fixed assets and General Ledger
Strong ability to apply several accounting and reporting systems
Strong communication and analytical skills
Strong ability to work individually or in a team setting
Excellent interpersonal and time management skills to meet time-sensitive deadlines
Strong ability to give attention to detail and to perform multiple tasks at the same time
Intermediate computer software skills, including Excel and other accounting packages
Possess Bachelor’s degree in accounting or a commensurate level of directly related experience
iii. Key Performance Indicators (KPIs)
Good in make properly record and Allocate tag numbers to fixed assets effectively
Coordinate every physical trade inventory counts and cycle counts
Meet timeline of monthly, yearly reporting
Increase team work productivities
Perform fair individual and group evaluations and improve employee moral