JOB PURPOSE: 

To provide support to the finance function by recording fixed assets transactions on timely basis, maintaining an accurate fixed assets register and performing Fixed Assets physical verification according to KWTRP finance policy.

Job Dimension:

• Staffs operating at this grade range are required to take responsibility for planning their work according to the monthly accounting timetable, and grant reporting dates – liaising with their line Manager where there is any clash of priorities
• Assistant Accountants carry out detailed manipulation of data and will usually have work reviewed before onward transmission to external parties
• This member of staff will show leadership to more junior members of the team.

Reports To:  Financial Accountant

RESPONSIBILITIES

Financial Responsibilities: 

• Effective maintenance of an organization’s fixed assets and depreciation schedules

Key Responsibilities:

• Record fixed assets by creating and supervising a system of procedures, forms, and controls.
• Recommend any updates to accounting policies affecting fixed assets to management.
• Allocate tag numbers to fixed assets to effectively track them from time to time.
• Record in the accounting system newly acquired fixed assets.
• Review all expense general ledger accounts and passing the appropriate journal entries to ensure that capital items are not expensed.
• Coordinate disposal of obsolete fixed assets in conjunction with the procurement team and passing the requisite journals to record the disposals in the FMS.
• Track, compile, and record project costs in fixed asset accounts; close out the accounts at the completion of the projects.
• Perform reconciliation of fixed asset ledger balance with the general ledger
• Liaise with various departmental asset custodians to reconcile assets and update the asset register.
• Perform depreciation calculation for all fixed assets.
• Perform revision and update on the detailed schedule of accumulated depreciation and fixed assets
• Carry out periodic reviews on intangible assets’ impairment.
• Track assets movements by ensuring all transfers are initiated and completed online to have an accurate asset register.
• Coordinate physical verification of fixed assets as per policy and reconcile to the asset register.
• Provide Fixed Assets management reports
• Create fixed asset related audit schedules, and collaborate with auditors on their assignments.
• Regularly communicate Fixed assets policy and procedures to staff
• Filing all assets-related documentation.
• Tracking of the WIP movement from start of the project until completion.
• Assist Financial Accountant to ensure that all assets are insured by preparing a schedule of fixed assets for insurance renewal every financial year and subsequently send any new asset acquisition to the insurer for addition to insurance schedule.
• Coordinate insurance claims for lost or damaged assets as per insurance policy.
• Any other task allocated by Head the of Department/Supervisor

Requirements

Qualifications:

• Undergraduate degree in Finance, Accounting or related field
• Minimum of CPA II or ACCA II
• At least 3 years of wide-ranging work experience in a finance office.
• In-depth knowledge and experience in computerized accounting systems.
• In-depth knowledge of Fixed Assets management an added advantage.
• Ability to meet assigned deadlines, support team members & uphold team spirit.

Competencies:

• Demonstrate high levels of integrity and confidentiality
• Excellent interpersonal, verbal and written communication skills
• Strong Organizational, planning and administrative skills
• Strong attention to detail and ability to work with minimal supervision
• Teamwork with the ability to work diverse teams