Fixed Asset Accountant Job Description

July 1, 2013 | By More

Fixed Asset Accountant Job Profile and Description

A fixed asset accountant is an individual who has to maintain accurate records of fixed assets in service as well as out of service. They also have to record additions of assets and asset dispositions, calculate the result of gains and losses, track the movements and attributes of assets, and establish the appropriate rate of depreciation.

Sometimes a fixed asset accountant has to handle tax filing of multi state property and assist in other financial related tasks. The fixed asset record is maintained by a fixed asset accountant. It is necessary for them to understand documents like balance sheet and income statement.

Fixed Asset Accountant Duties and Responsibilities

The various duties and responsibilities required to be carried out by a fixed asset accountant are as follows:

  • Creating a system of controls and procedures for fixed assets and then monitoring them
  • Recommending to the management regarding any form of update related to the accounting policies that are related to fixed assets
  • Assigning tag number to fixed assets
  • Recording acquisitions of fixed assets and dispositions in the system of accounting
  • Tracking project costs and compiling them. Closing those accounts once the related project is over
  • Calculating the depreciation amount of all fixed assets
  • Reviewing  and understanding the assigned accounts in order to check for accuracy and also proper documentation of the transactions
  • Coordinating with the accounting team in order to ensure that proper accounting methods are followed
  • Identifying areas for increasing automations and assisting in process improvements
  • Preparing all the required property tax return documents and responding to tax notices
  • Conducting analysis on fixed assets as per request of management
  • Representing  the company during audit procedures involving fixed assets
  • Tracking the expenditures of the organization related to fixed assets

Fixed Asset Accountant Skills and Specifications

The skills and specifications required for a fixed asset accountant are as follows:

  • Needs to be detail oriented and organized in nature
  • Must have the ability to handle data
  • Should demonstrate ability to handle multiple tasks and give strong attention to detail
  • Needs to have the ability to work for long hours

Fixed Asset Accountant Education and Qualification

The educational qualifications required for a fixed asset accountant are as follows:

  • Bachelors degree in accounting or finance
  • Experience in fixed asset accounting

Fixed Asset Accountant Salary

The average annual salary of a fixed asset accountant is $55000.

Category: Account Job Descriptions

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