Head of Fixed Assets and Inventory

Responsibilities

Strategy Formulation

• Contribute towards the formulation of strategy, annual business plans, policies and procedures of department, to support divisional and organizational business strategy.

• Assist the Director of Finance in meeting set targets and objectives as well as the financial performance of the Fixed Assets and Inventory section.

• Ensure that the fixed assets book of account is kept up-to-date and that accounting transactions are properly checked and reviewed to ensure accuracy of records.

• Manage the financial activities of the capital assets and inventory section, monitors capital expenditures and applies appropriate accounting treatment in the reporting system based on applicable accounting standards and financial policies and procedures.

Asset Acquisition

• Ensure the preparation of the monthly capital asset continuity schedule to reflect changes in each class of asset as part of the monthly reporting process for management review.

Asset Tagging, Verification, Transfer, Revaluation, and Retirement

• Monitor the tagging and verification of Fixed Assets. Assign a physical asset verification team and plan to conduct the physical asset verification.

• Review and reconcile the verification of assets with the accounted assets. Compare the reports and coordinate with Senior Accountant to resolve any errors in judgment.

• Approved list of assets to be updated in the system.

• Review the assets approved by the Disposal committee for retirement from the Fixed Asset Register.

• Oversee the maintenance of records of all fixed assets acquisitions, adjustments, changes, transfers and retired assets.

• Supervise the recording of asset disposals, transfers, retirements into the system as appropriate based on accounting standards and financial policies and procedures.

• Participate in the physical inventory count in cooperation with the Support Services Team to ensure that the financial records agree with the physical count of assets.

• Ensure all fixed assets in the books are accounted accurately with all relevant details and ensure all of them are physically present in their locations. Innovatively, adopt methods for effectiveness of the accuracy of data.

Fixed Assets Period End

• Review Depreciation report and coordinate with Accountant – Fixed Assets/ Senior Accountant – Fixed Assets for required changes, if any. Approve Depreciation Report.

• Review fixed assets month-end reports and approve the soft close for the period.

• To ensure that the fixed assets period-end close including accounts analysis are done on time.