Manager: Fixed Assets and Leases | IT Recruitment

  • Full Time
  • Gauteng

Role Purpose:

Purpose of the Job:

The manager is accountable for the recording the cost of newly acquired fixed assets (both tangible and intangible), tracking existing fixed assets, recording depreciation, maintain and accurate fixed asset and Tax register as well accounting for the disposition of assets. The role is also responsible for lease accounting in accordance with IFRS 16 and all relevant statutory requirements. To verify the validity, completeness, integrity, and accuracy of financial information for both Fixed Assets and Leases.

Deliver a strategic partnership to the business: –

  • Create and monitor a system of controls, procedures for the accounting of assets and leases
  • Analyse financial information
  • Provide robust financial control to optimise performance for decision making
  • Act as a strategic advisor to the business
  • Seek new opportunities for the business to become efficiency focused, i.e., agile decisions, automation of processes, digital footprint opportunities on a proactive basis

 

Minimum Qualifications

  • Com degree with Honors

 

Experience:

  • 8 years plus within Financial Environment
  • 4 years plus experience in Managing Fixed Assets and Leases
  • Strong Excel Skills
  • Oracle prior experience an advantage
  • Previous Telecommunication industry experience an advantage

 

Responsibilities:

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 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 Tax Register.
  • Track company expenditures for fixed assets in comparison to the capital budget and management authorizations.
  • Reconcile assets clearing account monthly and maintain aging of not more than 60 days

Leases

  • Assist with set-up of all new leases and validation of lease data and attributes, and maintenance of accurate lease data base.
  • Gather, verify, and input cross-functional data into the lease management tool
  • Record monthly lease journal entries and complete account reconciliations
  • Initiate lease payments and ensure they are processed completely, accurately, and timely
  • Prepare ad hoc reports as needed to support routine reviews, accounting, and financial reporting needs
  • Create and maintain procedural documentation and training materials
  • Assist the organization with other quarterly and annual audit processes

Balance Sheet Activities

  • Identify the relevant sources of information to account for all transactions in the Balance sheet for Assets, Accumulated Depreciation and Liabilities for both Fixed Assets and Leases
  • Ensure compliance with IAS 16, IAS 17 and IFRS 16

Month end closing and reporting activities

  • Investigate any possible over/under accruals and amend future calculations methods, processes, or information to ensure accurate accruals. Liaise with the business partner on this process
  • Ensure all reversing journals reversed correctly from previous month.
  • Validate monthly information received by reviewing control indicators for all Lease vendors
  • Identify any discrepancies and investigate the root cause with source systems – Oracle and Manual Lease database
  • Identify any discrepancies and investigate the root cause with source systems – Oracle and Manual Fixed Asset Register
  • Ensure that all manual calculations are kept up to date
  • Ensure all calculations are correct for all Intangible Assets
  • Calculate and account for all depreciation for Leases and Fixed Assets
  • Investigate any discrepancies and alert Financial Reporting team with any late adjustments to the lease or fixed assets balances
  • Analyze current month Interest, Lease expenditure and Depreciation against budget and prior year month.
  • Provide logical explanations for movements against budget and prior month figures.
  • Populate supporting information relating to leases and fixed Assets
  • Perform/review reconciliations for relevant General Ledger accounts
  • Ensure that all balance sheet accounts are accounted for all balances are accurate
  • Ensure that write offs are done timeously
  • Review all supplier reconciliations

 

Process creation maintenance

  • Review all current policies and procedures to ensure that they are valid
  • Prepare detailed SOP’s for all Fixed Assets and Lease activities
  • Annual assessment of the written procedures/ instructions with the need of the activity and eventually promote the updates on the system

 

Reporting

  • Manage and review the month end close out process
  • Manage and resolve any outstanding issues and queries
  • Review all GL recons and ensure that they are balanced to relevant subledgers for both fixed assets and leases
  • Perform detailed analysis for all relevant section in terms of performance against budget and prior month figures
  • Ensure that roll forwards are completed timeously
  • Ensure accuracy of all information presented
  • Ensure that the correct items are capitalised
  • Other specific reports, e.g.
    • Roll-forwards for assets and liabilities
    • PPE Note
    • Financial Lease and Liability disclosure notes
    • Financial year end disclosure requirements
  • Manage the audit process for Assets and Leases

 

Cost Savings / Efficiency Focus

  • Identify cost saving initiatives and advise business and senior management of these
  • Identify leases and utilities that need to be decommissioned and not payable
  • Identify opportunities to save on generator costs on sites
  • Identify opportunities on savings on utilities

 

Competencies:

Delivers beyond expectations

  • Energized by a challenge and self-motivated
  • Sets new and stretching goals for self or team, and achieves beyond what is expected
  • Exploits opportunities to exceed goals and works towards them, even under adverse circumstances
  • Always seeking new and better ways to improve performance

Empowers teams to perform

  • Agrees responsibilities based on insight into an individual’s competencies as well as experience, taking calculated risks where appropriate
  • Empowers the team to identify and solve problems, providing necessary support
  • Uses understanding of team and self to resolve conflicts effectively
  • Creates a clear sense of team identity and holds team accountable for meeting collective goals
  • Rewards individual initiatives beyond expectations to advance the common goal

Motivates others to work with self

  • Uses the informal structure, dynamics, and culture of an organisation to get things done
  • Actively seeks input in decision-making
  • Shows others how their objectives align with own
  • Actively contributes to the broader organisation or team, compromising on own preferences where necessary
  • Invests in building relationships with others

Mobilises others to initiate change

  • Encourages others to pursue opportunities for change
  • Takes action to influence specific individuals, such as giving them a part to play in the change effort
  • Publicly tracks the progress of the change in order to keep people engaged
  • Engages with people throughout the change process to understand and address emotional reactions and maintain commitment

 

Continually takes action to add value to the customer

  • Thinks from customer’s perspective and continually delivers improved offerings that provide win/win impact
  • Shares information and ideas with customers, and challenges and stands up to them as appropriate
  • Takes special actions beyond standard business practice in the interest of the customer
  • Identifies and develops best practices for working with or adding value to the customer, and champions among colleagues/stakeholders
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