Asset Accounting Manager

A. PROFILE

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

B. CONTEXT

Purpose: The Asset Accounting Manager is responsible for developing implementing asset management policies, systems and processes to ensure accurate recording of newly acquired fixed assets, tracking of existing assets and assets under construction, and monitoring asset retirements and status changes. This position oversees a team in executing day-to-day activities related to asset accounting, and has accountability for preparing accurate and timely reports to management.

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

Fixed Assets Management

• Plan, organize and oversee the entire process of all fixed asset additional, disposal, transfer and retirement in the accounting system according to IFRS
• Supervise and provide guidance to the asset accounting team on day-to-day activities to ensure asset accounting processes are executed efficiently and accurately
• Review asset under construction (AUC) register with detail analysis for projects pending for capitalization
• Ensure all AUC pending for capitalization are tracked and recorded into the system in accordance with approved policies and international accounting standards
• Review vendors project payment to reflect the status of technology project along with finance reconciliation
• Establish procedures and guidelines to allocate all assets to the appropriate cost center and ensure correct location is captured and registered
• Maintain accurate asset record at all times by monitoring asset retirements and status changes to ensure updates are made on a timely basis
• Liaise with technology department to reflect all the actual spending are in line with approved capex budget
• Ensure timelines are met for monthly accurate closing of fixed asset register, reviewing and reconciling with GL
• Manage periodic physical count and asset tagging of OML assets as per fixed asset accounting policy and procedure and reconcile it with fixed assets register
• Investigate the potential obsolescence of fixed assets and recommend to management whether fixed assets should be disposed of
• Perform periodic impairment reviews for fixed assets as per OML impairment policy and procedure

Reporting and Compliance

• Oversee the timely and accurate provision of management reporting information
• Reconcile the balance in the fixed asset sub-ledger to general ledger
• Review and report the additional capitalization, depreciation, retirement, impairment and disposal monthly and ad-hoc basis as requested to management and auditors
• Monthly review the 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.
• Recommend practical / relevant ideas to improve practices in relation to project capitalization, project retirements
• Coordinate with IT to correct any system anomalies or errors
• Monthly prepare standard BOQ for all towers and align with internal control process and procedure
• Liaise with auditors and respond to queries for periodic management audit, statutory audit as well as internal audit

Internal Controls

• Work with the Technical Accounting team to develop and document process flows and procedures to implement new and/or relevant accounting standards
• Develops and recommends policies and procedures regarding fixed asset management, and ensures proper documentation for each step in the process.

Supervision and Training

• Monitor, review and approve work performed by team members to ensure accuracy, identify, and resolve issues
• Ensure that all staff are utilizing up-to-date practices and appropriate tools and systems
• Oversee performance management, coaching and professional development of the team

D. KEY PERFORMANCE INDICATORS

• Timely monthly closing of fixed asset module
• Accurate and timely fixed asset reports
• Accurate, qualitative asset register
• Polices adherence and compliance with accounting standards

E. WORKING RELATIONSHIPS & DECISION MAKING

Interacts with: 
Internal: All cross functional departments

External: External Auditors, SAP consultant, External Vendors

Decision Making: Decision making in capitalization, inventory control

F. EXPERIENCE AND QUALIFICATIONS

Minimum Experience & Essential Knowledge

• 6 – 8 years' work experience in finance field
• At least 5 years' working in Fixed Asset department within telecoms industry
• Ability to guide and advise on asset management strategies, policies and systems, including related accounting activities, capitalization, retirement processes
• General knowledge of accounting standards, principles and procedures
• Experience managing a team of accountants
• 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

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