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.

Principal Accountabilities:

  1. Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.

  2. Recommend to management any updates to accounting policies related to fixed assets.

  3. Assign tag numbers to fixed assets.

  4. Record fixed asset acquisitions and dispositions in the accounting system.

  5. Track the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed.

  6. Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.

  7. Calculate depreciation for all fixed assets.

  8. Review and update the detailed schedule of fixed assets and accumulated depreciation.

  9. Calculate asset retirement obligations for those fixed assets to which AROs are applicable.

  10. Investigate the potential obsolescence of fixed assets.

  11. Conduct periodic impairment reviews for intangible assets.

  12. Conduct periodic physical counts of fixed assets.

  13. Recommend to management whether fixed assets should be disposed of.

  14. Conduct analyses related to fixed assets as requested by management.

  15. Prepare audit schedules relating to fixed assets, and assist the auditors in their inquiries.

  16. Prepare property tax returns.

  17. Represent the company during any audits by a government that involve fixed assets.

  18. 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.

Supervises: None

Related Courses

Fixed Asset Accounting