Accountant (Fixed Assets)
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Key skills for this role
About the Role
ADNOC Distribution is looking for a Fixed Assets Accountant to manage the recording, maintenance, and monitoring of fixed assets. Requires a Bachelor's in Finance/Accounting and 6 years of experience.
Key Skills for This Role
Responsibilities
- Reconcile Fixed Assets Ledger to ensure compliance with accounting standards
- Develop and implement policies and procedures for fixed asset categorization and capitalization
- Oversee adherence to fixed assets policies during insertion, write off, transfer, and disposal
- Ensure all fixed assets transactions are accurately recorded in the company's register
- Capitalize fixed assets monthly and update the register for changes
- Coordinate transfers of fixed assets between business units and petrol stations
- Compute and process documentation for sale of rented equipment
- Compile list of excess or shortage of fixed assets and investigate reasons
- Supervise and monitor annual fixed assets physical verification exercise
- Collaborate with cost centre heads to ensure accurate monitoring of fixed assets
- Reconcile fixed assets registers of cost and depreciation with nominal ledger
- Prepare monthly cost and depreciation reports/schedules
Requirements
- Bachelor’s degree in finance or accounting
- 6 years of experience in accounting in a similar environment
- Knowledge of ERP Systems
- Knowledge of MS Office
- Knowledge of business workflows, operations processes, accounting management systems and standards
- Attention to detail
- Innovative and conceptual thinking
- Knowledge of ADNOC Distribution’s business objectives, operations and of the regional laws and regulations
- Effective communication skills
Full Job Posting
Job Purpose
- The Fixed Assets Accountant plays a pivotal role within the finance team, responsible for the systematic and accurate recording, maintenance, and monitoring of the company's fixed assets.
- This position ensures compliance with established accounting standards and company policies and contributes significantly to the financial integrity and operational efficiency of the organization.
Key Accountabilities
- Reconcile Fixed Assets Ledger to ensure compliance with established accounting standards and procedures.
- Develop and implement policies and procedures to categorize fixed assets and capitalize various projects in alignment with global accounting standards.
- Oversee the adherence to fixed assets policies during the insertion, write off, transfer/amendment, and disposal of assets.
- Ensure all fixed assets transactions are accurately recorded in the company's register of assets.
- Capitalize various fixed assets monthly and update the fixed assets register for any changes or recoveries of equipment.
- Coordinate the transfers of fixed assets to facilitate seamless movement between business units and petrol stations.
- Compute and process the necessary documentation for the sale of rented equipment, adhering to specific guidelines and procedures.
- Compile a list of excess or shortage of fixed assets, investigate the underlying reasons, and prepare detailed reports for management information and action.
- Supervise and monitor the annual fixed assets physical verification exercise to ensure an accurate account of all fixed assets.
- Collaborate with cost centre heads and follow up on amendments and transfers to ensure the accurate and thorough monitoring of all fixed assets.
- Reconcile the fixed assets registers of cost and depreciation with the nominal ledger as per established company standards and procedures.
- Prepare monthly cost and depreciation reports/schedules, ensuring the availability of required management information.
Minimum Requirements
- Bachelor’s degree in finance or accounting
- Knowledge of ERP Systems
- Knowledge of MS Office
- 6 years of experience in accounting in a similar environment.
- Knowledge of business workflows, operations processes, accounting management systems and standards.
- Attention to detail
- Innovative and conceptual thinking
- Knowledge of ADNOC Distribution’s business objectives, operations and of the regional laws and regulations
- Effective communication skills
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