Accountant (Fixed Assets)

Job Purpose

Fixed Assets Policies and Procedures

• Reconcile Fixed Assets Ledger to ensure compliance with established accounting standards and procedures.
• Develop and implement policies and procedures to categorize fixed assets and capitalize various projects in alignment with global accounting standards.
• Oversee the adherence to fixed assets policies during the insertion, write-off, transfer/amendment, and disposal of assets.
• Ensure all fixed assets transactions are accurately recorded in the company's register of assets.

Fixed Assets Monitoring

• Capitalize various fixed assets monthly and update the fixed assets register for any changes or recoveries of equipment.
• Coordinate the transfers of fixed assets to facilitate seamless movement between business units and petrol stations.
• Compute and process the necessary documentation for the sale of rented equipment, adhering to specific guidelines and procedures.
• Compile a list of excess or shortage of fixed assets, investigate the underlying reasons, and prepare detailed reports for management information and action.
• Supervise and monitor the annual fixed assets physical verification exercise to ensure an accurate account of all fixed assets.

Depreciation

• Collaborate with cost centre heads and follow-up on amendments and transfers to ensure the accurate and thorough monitoring of all fixed assets.
• Reconcile the fixed assets registers of cost and depreciation with the nominal ledger as per established company standards and procedures.
• Prepare monthly cost and depreciation reports/schedules, ensuring the availability of required management information.
• Generate monthly inter-regional transfer schedules and lists of outstanding commitments for effective financial oversight.

Physical Verification and Documentation

• Supervise and monitor the annual fixed assets physical verification exercise to ensure an accurate account of all fixed assets.
• Coordinate with relevant departments to ensure the physical verification process is thorough and completed in a timely manner.
• Prepare detailed documentation and reports based on the findings of the physical verification exercise.
• Ensure any discrepancies identified during physical verification are investigated and resolved promptly.

Management Reporting and Coordination

• Prepare and present comprehensive reports on fixed assets management to senior management for informed decision-making.
• Coordinate with various departments to ensure the timely and accurate flow of information related to fixed assets.
• Provide guidance and support to other team members on fixed assets accounting and policies.
• Assist in the preparation of audit schedules and liaise with internal and external auditors as required.

Continuous Improvement

• Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global best standards, productivity improvement and cost reduction.

Minimum Requirements

• Bachelor’s degree in finance or accounting
• Knowledge of ERP Systems
• Knowledge of MS Office
• 6 years of experience in accounting in a similar environment.
• Knowledge of business workflows, operations processes, accounting management systems and standards.
• Attention to detail
• Innovative and conceptual thinking
• Knowledge of ADNOC Distribution’s business objectives, operations and of the regional laws and regulations
• Effective communication skills