Fixed Asset Accountant Job Description
Position Description: Fixed Asset Accountant
Basic Function: The fixed asset accountant position is accountable for recording the cost of newly-acquired fixed assets (both tangible and intangible), tracking existing fixed assets, recording depreciation, and accounting for the disposition of fixed assets.
- Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.
- Recommend to management 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.
- Review and update the detailed schedule of fixed assets and 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 inventory 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.
- Prepare property tax returns.
- Represent the company during any audits by a government that involve fixed assets.
- 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.