Fixed Asset Accountant job description

Job brief

We are seeking a detail-oriented Fixed Asset Accountant to join our finance team and take ownership of our comprehensive fixed asset portfolio spanning multiple locations and asset classes. In this role, you will manage asset lifecycles from initial capitalization through disposal, ensuring accurate depreciation calculations and regulatory compliance while supporting strategic initiatives around asset optimization and cost management. You will work closely with cross-functional teams including procurement, facilities, tax, and external auditors to maintain the integrity of our capital asset reporting. If you have a passion for technical accounting standards and enjoy working with sophisticated asset management systems, this role offers excellent opportunities for professional growth.

What is a Fixed Asset Accountant?

A Fixed Asset Accountant is a specialized accounting professional who manages the complete lifecycle of an organization's capital assets, from acquisition to disposal. Working with fixed asset management systems such as SAP Fixed Assets, Oracle Assets, or MRI Software, Fixed Asset Accountants calculate depreciation schedules, perform impairment testing, and ensure compliance with GAAP, IFRS, and tax regulations. Their expertise in asset capitalization policies, useful life determinations, and disposal accounting is essential for accurate financial reporting and maximizing tax benefits through proper asset classification and depreciation methods.

What does a Fixed Asset Accountant do?

A Fixed Asset Accountant maintains detailed asset registers, calculates monthly depreciation expense using straight-line, accelerated, or units-of-production methods, and reconciles fixed asset subledgers to the general ledger. They collaborate with procurement teams to review capital expenditure requests, work with facilities management to conduct physical asset counts, and coordinate with tax advisors to optimize depreciation methods for book versus tax reporting. They also prepare asset transfer journals for inter-company transactions, analyze asset utilization metrics, and support external auditors during year-end testing of property, plant, and equipment balances.

Key responsibilities

• Maintain comprehensive fixed asset registers using SAP Fixed Assets or Oracle Assets, tracking acquisitions, transfers, disposals, and impairments across all asset categories
• Calculate monthly depreciation expense using various methods including straight-line, declining balance, and units-of-production based on asset class and regulatory requirements
• Perform quarterly asset impairment testing and analysis, identifying indicators of impairment and calculating recoverable amounts under ASC 360 or IAS 36 standards
• Reconcile fixed asset subledgers to general ledger accounts, investigating and resolving variances while preparing supporting documentation for monthly close processes
• Collaborate with procurement and project management teams to review capital expenditure requests, ensuring proper asset classification and capitalization thresholds
• Coordinate annual physical asset verification counts, working with facilities and operations teams to validate asset existence, condition, and location accuracy
• Prepare detailed asset roll-forward schedules, depreciation reports, and disposal gain/loss calculations for monthly, quarterly, and annual financial reporting
• Support external auditors during fixed asset testing procedures, providing asset detail reports, supporting documentation, and variance explanations

Requirements and skills

• Bachelor's degree in Accounting, Finance, or related field with strong understanding of GAAP/IFRS fixed asset accounting standards including ASC 360
• 3+ years of experience in fixed asset accounting using enterprise systems such as SAP Fixed Assets, Oracle Assets, Sage Fixed Assets, or similar ERP modules
• Proficiency in advanced Excel functions including VLOOKUP, pivot tables, and financial modeling for depreciation calculations and asset analysis
• Knowledge of various depreciation methods, asset capitalization policies, and tax regulations including Section 179, bonus depreciation, and like-kind exchanges
• CPA certification or progress toward CPA preferred, with demonstrated knowledge of fixed asset technical accounting pronouncements
• Experience with physical asset verification procedures, asset tagging systems, and coordination with facilities management teams
• Strong analytical skills for performing impairment testing, useful life assessments, and cost segregation analysis for tax optimization
• Ability to communicate complex fixed asset accounting concepts to non-finance stakeholders including operations, procurement, and executive management

FAQs