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Position Purpose
Responsible for the management of asset accounting. To ensure that PPE transactions processed are valid, accurate and complete, which results in the Fixed Assets and CWIP Accounts being an accurate representation of the value of the asset base. Responsible for the management, planning and reporting of activities related to asset accounting as well as process monitoring and improvements.
Duties and Responsibilties
• Compile the monthly asset reports relating to Fixed assets and right of use assets.
• Responsible for the asset reconciliations including related supportingschedules.
• Review of WIP capital projects portfolios, ensuring timeous capitalisations;
• Engage with the CWIP manager/Capital projects team on progress and completion of projects that require capitalisation;
• Actively manage the accounting for assets in terms of compliancewith IFRS including consideration of impairment, change in useful life,residual value and disclosure requirements.
• Prepare the IFRS 16 right of use journals using the lease calculator for the terminal monthly.
• Preparation of the CCM dashboard schedules and follow ups;
• Review status of IFRS 5 related assets for appropriateness and ensureassets are recorded as held for sale when the criteria are met;
• Liaise with Internal Audit for asset related audit steps (for transactionsperformed at the terminal);
• Accountability for validity, accuracy and completeness of alltransactions relating to capex, capitalisation, transfers, disposals andimpairments. This process required an ongoing evaluation of theasset base to determine the outcome or decisions made and whetherthe appropriate outcomes have been reached in light of changing ornew information. Outcomes and impacts of decisions may not beknown immediately.
• Determine the correct categorisation of assets at acquisition throughconsultation with project managers and asset owners where required.
• Responsible for the accuracy of the monthly depreciation run.
• Identify the need for an impairment of an asset based on the conditions at the time of assessment and other relevant information per the accounting standards including the preparation of the relevant paperwork for approval.
• Analyse and identify possible areas for improvement in relation to the asset impairment, disposal and capitalisation process. Source information historically and through trend analysis to support their recommendation.
• Identifying and recommend assets for disposal. Manage the assetwithdrawal process.
• Coordinate tagging of assets capitalised (with the SAP generatedasset number or a systematic number used by the terminal)
• Preparation and management of the annual asset verification for both Terminals.
• Provide the relevant support to terminal cost centre Mangers.
Provide information for the preparation of budgets on depreciation/depreciation simulations, latest estimates.
• Ensure and complete transactions in compliance with policy and legislation.
Comply with the minimum controls framework
• Extract information to provide to with internal and external auditrequirements for asset related audit steps;
• Handing over of assets to the new cost centre owner in the event of achange in individual (cost centre owner); and
Enable the tagging of assets on a monthly basis.
Assisting with the supply of assets information to the Third PartyValuators
• Carrying out the asset tagging and verification process, includinglinking the unique tag number to the asset registers.
Qualifications and Experience
• B Com (Finance/Accounting Degree) or National Diploma in Finance/Accounting and Minimum 3 years’ relevant experience, preferably in Asset Management OR NQF Level 5 and Minimum 8 years’ relevant experience, preferably in Asset Management
