Financial Accountant (Fixed term Contract)

SUMMARY:
To record the cost of newly acquired fixed assets (both tangible and intangible), to record depreciation, and to maintain updated and accurate fixed assets in the general ledger within the Financial Services Department.
 

POSITION INFO:
JOB DESCRIPTION

• Record fixed asset acquisitions and disposals in the accounting system.
• Track the compilation of project costs from work-in-progress (WIP) accounts into fixed asset accounts, and ensure that business units clear these WIP accounts once the related projects have been completed.
• Calculate and reconcile depreciation as well as wear-and-tear for all fixed assets in accordance with accounting and Company-specific policies and relevant accounting standards, and ensure compliance with taxation regulations.
• Review the asset categories and depreciation rates captured by relevant stakeholders.
• Prepare fixed asset reconciliations and identify any discrepancies between the general ledger, subledger and annual financial statements (AFS).
• Investigate and correct the root causes of any discrepancies timeously, and suggest mitigating controls for the future.
• Prepare fixed asset notes to the AFS in accordance with relevant accounting standards, the Companies Act 71 of 2008 (Companies Act) and allowances.
• Respond to queries or conduct analyses related to fixed assets as requested by management or from various stakeholders.
• Prepare audit schedules relating to fixed assets and assist the auditors in their enquiries.
• Recommend to management any updates to accounting policies related to fixed assets.
• Perform accounting and fixed asset administration, including the preparation of fixed asset instructions to different stakeholders, data capturing and record keeping.
• Engage with relevant stakeholders/clients within the external parties.

• A minimum of a Bachelor’s degree (NQF 7) in Accounting or Commerce, or an equivalent qualification; and
• At least 2–4 years of experience in the financial services environment, specifically in the area of accounting.

• A postgraduate qualification in Finance.