Asset Accounting Accountant

A. PROFILE

Role Title: Asset Accounting Accountant
Reporting to: GL & Asset Management Senior Manager
Division: Finance Operation
Department / Section: Finance

B. CONTEXT

Purpose: The Asset Accounting Accountant is responsible for maintaining accurate and up-to-date records of fixed assets, tracking of existing assets and assets under construction, monitoring status changes and assisting in month-end closing. This individual supports the Asset Accounting Manager in day-to-day asset accounting activities and procedures.


Context: The Finance Department sets the strategic direction and runs day to day operations of all finance, Logistic and supply chain activities. Finance Department also ensures the company growth plans are managed from a financial perspective and profit targets are achieved within an acceptable level of risk.

This role is part of the Financial Control division, which handles financial reporting, Financial Planning and Budgeting, Assets Management, Revenue Accounting, GL & Accounts Payable, Financial systems control, Taxation, Logistics and Inventory management.

C. ROLE ACCOUNTABILITIES

• Perform WBS code for purchase requisitions from respective projects
• Maintain asset under construction (AUC) register showing analysis for projects pending for capitalization Perform capitalization of WIP into Fixed Assets on a timely basis, liaising with internal parties to monitor WIP balances completion status
• Prepare and calculate the aging report of CWIP with comments after reviewing with user teams
• Maintain and prepare the report of spare part equipment that is CWIP and accurately issue it in corrected usage period by reviewing and confirming with user teams
• Track the compilation of fixed asset that under CWIP, and close out those accounts once the related projects have been completed.
• Accountable for monitoring the progress of projects and ensuring that project billings are issued
• Prepare manual journal entries accurately in relation to Fixed Assets for month-end closing
• Maintain accurate asset record at all times by monitoring asset retirements and status changes to ensure updates are made on a timely basis
• Ensure consolidation of fixed asset information to enable a complete and accurate record of the identification, location, and value of fixed assets in the fixed asset register
• Perform periodic physical count and asset tagging of U9 assets as per fixed asset accounting policy and procedure and reconcile it with fixed assets register
• Prepare the revaluation of fixed assets as required to comply with applicable international financial accounting standards
• Calculate monthly depreciation and prepare report it with narratives
• Prepare audit schedules relating to fixed assets, and assist the auditors in their inquiries for management audit, statutory audit and internal audit
• Liaise with SAP consultants to resolve any SAP system issues or system enhancement projects
• Monitor compliance of internal control pertaining to fixed assets processes
• Collaborate with own and cross functional department on ad-hoc projects for cost restructuring purposes
• Participate in other assignments and ad hoc projects as required by management
• Prepare timely and accurate closings of Fixed Asset related reports Fixed Asset Lapsing Schedule, Depreciation Report, Fixed Asset Report, Roll-out report, Accrual Report and FA Analysis report aligned with team.
• Supports with coordination with all relevant department especially technology and IT departments on improvement of process regarding delivery of information from technical to finance including development of systematic work flow to include Enterprise Asset Management System and Asset Management Life Cycle.
• Recommend practical / relevant ideas to improve processes and practices relating to fixed assets

D. KEY PERFORMANCE INDICATORS

• Timely and accurate data entry and record keeping
• Timely and accurate GL Closing

E. WORKING RELATIONSHIPS & DECISION MAKING

Interacts with:
Internal: Technology, S&D, Facilities and all U9s employees

External: Auditor, Project related vendors

Decision Making

Capitalization Process

F. EXPERIENCE AND QUALIFICATIONS

Minimum Experience & Essential Knowledge

• 3 – 5 years work experience in finance field
• At least 2 years working in an Assets Accounting role within telecoms industry
• Demonstrated experience performing transactional accounting activities, recording and reconciliation, capitalization, month-end closing
• In-depth knowledge of fixed asset management policies and related accounting activities
• General knowledge of professional accounting standards, principles and procedures
• Proven ability to meet deadlines and work effectively under pressure
• Proficiency in MS Office applications and modern accounting systems / software; specific knowledge of SAP

Minimum Entry Qualifications

• Bachelors degree in Finance, Accounting or relevant field from a recognized university
• Professional qualification such as CA, CIMA, CPA preferred but not mandatory