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Become A Fixed Asset Accountant

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Working As A Fixed Asset Accountant

  • Interacting With Computers
  • Processing Information
  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Organizing, Planning, and Prioritizing Work
  • Mostly Sitting

  • Repetitive

  • $61,556

    Average Salary

What Does A Fixed Asset Accountant Do At Randstad

* Prepare and verify the accuracy of journal entries and accounting classifications.
* Ensure all entries are in accordance with generally accepted accounting principles.
* Review accounts payable invoices to determine if amounts should be capitalized or expensed based on the Select Medical Fixed Asset Policy and GAAP.
* Timely recording of disposals and retirements, as well as all new assets in accordance with the Select Medical fixed asset policy.
* Compilation of project costs into CIP accounts and the close out of those balances once the related projects are complete.
* Monthly reconciliations of fixed asset sub-ledgers to the general ledger.
* Ensure appropriate classification of balance sheet activity.
* Work closely with Tax department to ensure accurate "Book to Tax" records.
* Provide fluctuation analysis and analytical review of monthly and quarterly fixed asset activity.
* Collaborate with the Information Systems (IS) department to understand all projects and ensure the project costs are being accounted for properly (capital vs expense).
* Provide reporting on all capitalized projects.
* Support audit process by providing information and direct interaction with auditors, both internal and external, on a quarterly and annual basis.
* Assist with the integration of acquisitions and/or joint ventures into our financial systems and processes.
* Participate in system implementations, upgrades, patches.
* To include design, documentation and testing.
* Participate in the capital expenditure budget process (Hyperion Planning).
* Update job knowledge by participating in educational opportunities; reading professional publications; maintaining professional networks; participating in professional organizations, etc.
* Support special projects and undertake other duties as requested

What Does A Fixed Asset Accountant Do At Kelly Services

* Works closely with the broader Capital Assets accounting team to prepare accurate and timely financials
* Leverages depth of technical expertise in fixed asset accounting and financial systems to support business needs
* Prepare journal entries using Oracle, SAP, and/or PowerPlan in support of fixed asset accounting
* Develop timely, accurate actuals for fixed assets to support the business’s project management and decision-making
* Review ERP-based calculations for accuracy and consistency, identifying variances to Reporting group where applicable
* Assist Analysts with complex transactions/issue resolution, as needed E.g., for depreciation runs, classification of fixed assets, reconciliations, retirements, AROs
* Collaborate with Reporting team (within CA) to support preparation of financials (e.g., PPE roll-forward report)
* Liaise with internal stakeholders across U
* S. and Canada to identify data needs, support Tax and Regulatory/Audit requirements
* Partner closely with IT/EFS to execute the month-end close and resolve systems issues

What Does A Fixed Asset Accountant Do At Land O' Lakes

* Month-end close process by preparing journal entries, performing balance sheet account reconciliations and report preparation for management review
* Perform quarterly financial analysis
* Assist with the quarterly and year-end audit and tax expense and disposal reporting and prepare requested audit schedules
* Prepare all consolidations for month end/year end including providing reports to customers
* Prepare all board/book pages
* Review all journal entries under $50K; and all FAAR’s (Fixed Asset Activity Report) under 25K
* Perform all SOX testing and prepare KPMG fixed asset reporting.
* Performing all tax reporting duties (Quarterly and Annual)
* Prepare quarterly flux reporting for all Business Units
* You'll also be involved in ad hoc projects and work with the team to lead in technology trainings

What Does A Fixed Asset Accountant Do At Quality Technology Services, LLC

* other duties may be assigned
* Assist in requisition management by reviewing requisitions, contracts and invoices, and associated lien waivers.
* Verification that amounts requested are in compliance with internal policy and with vendor contracts and agreements.
* Support efforts to ensure compliance with Sarbanes
* Oxley, established internal controls, corporate accounting policies and GAAP.
* Prepare monthly journal entries and perform reconciliations of project detail with the general ledger detail.
* Ensure costs are reflected in the correct project.
* Review any contract adjustments/change orders related to capital projects for appropriateness.
* Assist in preparation of monthly project reports from project accounting application software and communicate/distribute reports to budget owners, including review of variances to budget and contracts.
* Solicit project status updates from project owners for management reporting purposes.
* Communicate regularly with the Development Team members to understand projects parameters and resolve any accounting issues
* Review forecasting metrics for capital projects, including return on investment, cash flows, projected completion timing and expected in-service dates.
* Record fixed asset acquisitions and dispositions in the accounting system.
* Conduct analyses related to fixed assets as requested by management.
* 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 ledger to the general ledger.
* Calculate depreciation for all fixed assets.
* Review and update the detailed schedule of fixed assets and accumulated depreciation.
* Prepare audit scheduled relating to fixed assets, and assist the auditors in their inquiries

What Does A Fixed Asset Accountant Do At CBS Corporation

* Manage TVHQ Fixed Assets
* Monitor TVHQ Construction in Progress and Capital Spending
* Handling System Administration for Oracle Fixed Assets and CBS Television Stations (CTS) Consolidation & Reporting Tool
* Reconcile Oracle FA to GL
* Prepare monthly and quarterly PP&E Rollforwards for CTS
* Provide assistance to local stations on using Oracle FA system
* Preparing monthly and quarterly submissions to CBS Corporate
* Oversee interdivisional transfers between TVHQ and Stations
* Record intercompany activity with CBS Corporate for EcoMedia, Decades and CBS All Access
* Prepare monthly account reconciliations, reports and analysis
* Assist with retransmission revenue and cash receipts applications for TVHQ
* Participate in Balance Sheet review meetings
* Assist with special projects and financial analysis

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How To Become A Fixed Asset Accountant

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Fixed Asset Accountant jobs

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Real Fixed Asset Accountant Salaries

Job Title Company Location Start Date Salary
Fixed Assets Accountant, Systems and Controls Facebook, Inc. Menlo Park, CA Jun 03, 2013 $110,000
Inventory and Fixed Asset Accountant Samsung Electronics America, Inc. Ridgefield Park, NJ Dec 12, 2016 $76,066
Fixed Assets Lead Trustees of Boston University Boston, MA Feb 15, 2011 $73,216
Fixed Asset Accountant Sidewinder Drilling, Inc. Houston, TX Jun 09, 2016 $72,325
Fixed Asset Accountant Sidewinder Drilling, Inc. Houston, TX Sep 07, 2013 $70,000
Intermediate Accountant-Capital Assets Epcor Water (USA) Inc. Phoenix, AZ Sep 21, 2015 $65,146
Fixed Asset Staff Accountant Document Technologies, LLC San Francisco, CA Sep 12, 2011 $63,000 -
$65,000
Fixed Asset Accountant VCA Inc. Los Angeles, CA Sep 02, 2015 $58,000
Senior Fixed Asset Accountant The Hertz Corporation Oklahoma City, OK Sep 13, 2015 $57,100
SR. Fixed Asset Accountant Travelport, LP Atlanta, GA Feb 08, 2010 $56,000 -
$75,000
Fixed Asset Accountant Monsanto Company Saint Louis, MO Oct 01, 2012 $55,000
North America Well Services Fixed Asset Accountant Schlumberger Technology Corporation Houston, TX Oct 24, 2016 $50,086 -
$62,000
Fixed Asset Accountant Kemira Chemicals, Inc. Atlanta, GA Jun 16, 2014 $47,424 -
$55,000

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Top Skills for A Fixed Asset Accountant

AssetSystemGeneralLedgerAccountsMonthlyJournalEntriesFinancialStatementsExternalAuditorsAssetAccountsCapitalExpendituresCapitalProjectsBalanceSheetAccountsCIPMonth-EndFASPropertyTaxReturnsSOXPhysicalInventoryGaapPayrollMonthlyDepreciationExpenseMonthlyAccountReconciliationsSpecialProjects

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Top Fixed Asset Accountant Skills

  1. Asset System
  2. General Ledger Accounts
  3. Monthly Journal Entries
You can check out examples of real life uses of top skills on resumes here:
  • Participated in reconciling reports between Fixed Asset system and General Ledger.
  • Reconciled various general ledger accounts.
  • Prepare monthly journal entries and reconciliations between the fixed asset software and the general ledger.
  • Performed variety of accounting and internal audit functions including preparation of financial statements for Commercial Real Estate Management Company.
  • Develop and maintain relationships with internal & external auditors.

Top Fixed Asset Accountant Employers

Fixed Asset Accountant Videos

IAS 16 - IFRS Property, Plant & Equipment (Fixed Assets) 1 of 2

CPA Profile: Jennifer de Leon, CPA

Rendezvous with Simi Garewal - Kumar Mangalam Birla & Neerja (1998)

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