Job Description
Job Description:
• Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.
• Recommend to superior 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 on monthly basis.
• Monthly preparation of depreciation schedule as per income tax act and fixed assets schedule annexed to balance sheet.
• Review and update the detailed schedule of fixed assets and the 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.
• Conduct periodic physical counts of fixed assets.
• Recommend to management whether fixed assets should be disposed of.
• Conduct analyses related to fixed assets as requested by management.
• 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.
Desired Qualifications
• 3+ years of fixed asset accounting experience.
• Bachelor's degree in accounting preferred.
• Must be detail-oriented
• Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.
• Recommend to superior 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 on monthly basis.
• Monthly preparation of depreciation schedule as per income tax act and fixed assets schedule annexed to balance sheet.
• Review and update the detailed schedule of fixed assets and the 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.
• Conduct periodic physical counts of fixed assets.
• Recommend to management whether fixed assets should be disposed of.
• Conduct analyses related to fixed assets as requested by management.
• 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.
Desired Qualifications
• 3+ years of fixed asset accounting experience.
• Bachelor's degree in accounting preferred.
• Must be detail-oriented
💡 Quick Summary
Seeking a career-building opportunity? The Fixed Asset Accountant position is now open for candidates interested in the Accountant Jobs sector. This role in Chennai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Accountant Jobs is a plus.
