Deputy Director: Asset Accounting System Management at City of Tshwane

Reference number FISE587-2024

Job purpose

To manage the accounting functions and operations of the Asset Accounting System Management Section to ensure the execution of all accounting transactions relating to fixed assets, perform monthly depreciation runs and monthly reconciliation of the fixed asset register and general ledger accounts, annually review residual values and depreciation methods, ensure detailed recordkeeping of all financial accounting transactions, compile notes for the annual financial statements and interim financial statements (ad hoc), provide internal support to management and internal and external audit, and plan and manage the activities of subordinates

Appointment requirements

• An appropriate three-year career-related tertiary qualification (national diploma or degree) in Finance or Accounting or any other study field related to the position
• Registration as a Chartered Accountant (CA(SA)), registration with the Chartered Institute of Management Accountants or registration with any other accounting profession will be an added advantage
• At least eight years’ working experience in financial accounting or an asset management environment, of which at least four years should be at managerial level
• Must undergo vetting and a lifestyle audit
• Compliance with the MFMA unit standards, as prescribed by Regulation 493 of 15 June 2007, as published in Government Gazette 29967 of 15 June 2007, will be an added advantage
• A valid Code B driving licence
• Computer literacy with SAP proficiency and advanced Microsoft Excel skills

Personal attributes and/or competencies

• Accounting: Establish appropriate accounting systems for the organisation and ensure that the rules of GRAP and other good accounting practices are adhered to
• Budgeting: Establish and manage credible budgets within legislative, political and administrative mandates
• Financial management: Drive the optimisation of the municipality’s financial management through the use of standard operating procedures
• Financial reporting: Identify the overall objectives of financial reporting, the specific information needs of stakeholders and the general information needs of others

Primary functions

• Control and review the processing of financial transactions, including processing depreciation monthly, compiling and processing financial data, balancing processed data, manually calculating depreciation on assets capitalised with an earlier date, creating journals to expense operational expenditure on assets under construction (relating to old financial years), uploading audit adjustments and reversing prior year journals (combined between asset accounting and asset register maintenance) and updating Appendix B for annual financial statement purposes building up to year end
• Maintain and control the file for review by the director for capitalisations (completion certificates, etc) after performing a second review on high-level classifications, UL and completion date of newly capitalised assets, transfers (listing to and from assets) and retirements (supporting documentation)
• Assist with and review monthly the reconciliation between the Fixed Asset Register and general ledger accounts, draw the financial assets register, draw a trial balance, update the register with manual transactions, reconcile, draw a transaction list to distinguish between the transfer and capitalisation of new assets and conduct monthly reconciliation between the asset history report and Fixed Asset Register report
• Control and review asset classes, cost centres and restatements related to Appendix B for the budget office to be able to report to the National Treasury
• Give input to ensure that procedures and policies are regularly updated and relevant, stay up to date regarding policy and procedures, report shortcomings immediately and execute functions in compliance with audit findings that have been implemented
• Perform administrative tasks, report to institutions on capex, such as Statistics South Africa and the National Treasury, assist with information and draw reports for budget purposes
• Ensure proper record-keeping, filing and other related tasks
• Control and review the performing of year-end procedures, reconcile acquisitions for the year, review completeness of depreciation and compile the appendix for the financial statements (analysis of property, plant and equipment, segmental analysis of property, plant and equipment and relevant notes)
• Submit quarterly financial statements or as and when requested
• Extract and provide asset information required for separate financial statements for electricity, market, airport and health
• Review annual GRAP requirements, depreciation method and residual values
• Manage the day-to-day operations of asset accounting, planning, organising, coordination, control and standards
• Perform any ad hoc tasks, review journals passed, ensure that supporting documents are attached and signed by the director, recommend to management any updates to accounting policies related to fixed assets, study, comment on and implement GRAP standards, perform other job duties and responsibilities as assigned, assist with audit processes and resolve informal and formal Auditor-General queries as well as any internal audit processes and findings