Fixed Asset Accountant at Mintek

Job description

Asset acquisition

• Advise buyers and administration officers on correct procedure to procure assets.
• Verify that the cost of the asset is correct in terms of the Asset Management Policy and that all applicable costs have been included.
• Review asset acquisitions to ensure that assets are categorized correctly in terms of the Asset Management Policy.

Asset register maintenance

• Ensure that all assets are on the register and that the depreciation is done in accordance with the relevant policy.
•  Review that the asset register is updated with respect to all items of information relevant to each asset item.
•   Develop and maintain a process of relocation of assets.
• Review all asset master data changes for accuracy.
• Ensure all asset holders have an updated location asset register at all times.

Asset verification

• To apply knowledge and skills to oversee the regular asset verification exercises. This includes:
  • Planning of such verifications (audits);
  •  Execution of audits;
  •  Reconciliation of physical verification results with the fixed asset register;
  •  Compilation of report setting out result of the audit;
  •  Facilitate resolution of problems detected during audit through discussion with related parties and correction thereof on the asset register where applicable.
• Assist asset clerks with bar coding of existing and new assets.
• Assist asset clerks with large disposals and movements.
• Conduct regular asset verification throughout the financial year.

Month-end activities

• Review capital projects on a monthly basis and ensure that all necessary items are settled to assets.
• Perform a monthly depreciation run on the IFS system after all capital expenditure has been settled to assets in the Asset Module.
• Ensure the reconciliation of the fixed asset register to the fixed asset accounts in the general ledger on a monthly and yearly basis.

Disposal/write-off of assets

• Ensure that scrapped items are disposed of in accordance to the policy.
• Ensure the adherence to approved policy and procedure of all asset items scrapped / removed from the asset register.
• Review list of assets to be auctioned and approve for submission to Head: SCM.
• Ensure assets are de-activated on IFS after disposal/write-off provided the necessary authorisations are in place.
• Maintain and verify the schedule of all written-off/disposed assets for audit purposes.
• Advice on any assets that is impaired when physical verification is conducted.

Administration

• Ensure that policies and procedures related to fixed assets are adhered to by regular communication with asset holders, managers and heads.
• Review the accuracy of fixed asset register on IFS.
• Review policies and SOPs in respect of the management of assets within Mintek, communicating changes to all staff. Monitor compliance regarding asset management.
• Control Capex budget. Liaise with SBUs to verify actual vs. planned expenditure.
• Develop a system to track movements of assets.
• Monitor capital projects and ensure that settlements of projects are done on time.
• Maintain asset master data on IFS.
• Evaluate useful life of major assets.
• Maintain a schedule of current year acquisitions with supporting documents.
• Review asset register on a regular basis for anomalies.
• Assist annually with review of useful life and impairment of assets.

Reporting

• Preparation of documentation and financial entries regarding acquisition, disposal and loss of assets.
• Compile monthly management reports.

Compliance

• Analyse potential upgrade to / amendment of Mintek’s policies and procedures with respect to fixed asset accounting to ensure maximized efficiencies and economy.
• Assist in the compilation of working papers to substantiate the content of the annual financial statements including the processing of year-end transactions

Minimum requirements

QUALIFICATION AND EXPERIENCE

• Bachelor's Degree in Finance or Accounting
• 2-5 years experience in an asset management environment.(IFRS compliance)

KNOWLEDGE, SKILLS AND ABILITIES

• Be able xto work in a team
• Excellent communication and organisational skills
• Attention to detail, ability to follow up and take initiative
• Excellent interpersonal skills
• Be able to work under pressure
• Ability to cope in a stressful and demanding environment

BEHAVIOURAL COMPETENCIES:

• Project management.
• Should have good verbal communication
• Must have good work ethics to maintain credibility