Accountant

Al Qadisiyah

Key Responsibilities:

• Capital Expenditure (CapEx) Management:
• Oversee the recording and tracking of capital expenditures in accordance with company policies.
• Assist in the preparation and analysis of capital budgets, working closely with relevant departments to ensure that CapEx plans align with company goals.
• Review and verify capital expenditure requests to ensure proper authorization, budget alignment, and appropriate coding.
• Prepare detailed capital expenditure reports, highlighting variances from the budget and providing explanations for deviations.
• Fixed Assets Register Management:
• Maintain and update the fixed assets register, ensuring that all acquisitions, disposals, and adjustments are properly recorded.
• Ensure that capitalized assets are correctly classified, categorized, and tracked throughout their lifecycle, including acquisition, depreciation, and disposal.
• Track and record depreciation for fixed assets, ensuring compliance with relevant accounting standards (e.g., GAAP, IFRS).
• Perform regular reconciliations of the fixed assets register to the general ledger, identifying and resolving discrepancies in a timely manner.
• Depreciation & Amortization:
• Calculate and record monthly depreciation and amortization for all fixed assets, in line with the company s accounting policies and applicable tax regulations.
• Assist in preparing reports for financial statements related to asset depreciation and amortization.
• Review the useful life and residual value of fixed assets, proposing adjustments as necessary.
• Audit & Compliance Support:
• Assist with internal and external audits by providing supporting documentation for fixed assets and capital expenditures.
• Ensure that fixed asset records are accurate, and provide information to auditors during year-end audits.
• Ensure compliance with regulatory and tax requirements related to fixed assets, including proper capitalization and tax treatment.
• Fixed Asset Acquisition & Disposals:
• Manage the process for the acquisition, transfer, and disposal of fixed assets, ensuring that proper documentation is maintained.
• Monitor and record the disposal of fixed assets, including tracking gain or loss on asset disposals.
• Ensure that disposed assets are removed from the fixed assets register in a timely manner.
• Capitalization of Costs:
• Ensure that all capitalized costs are properly allocated to the correct asset categories (e.g., buildings, equipment, vehicles) and in accordance with accounting policies.
• Review invoices and ensure that only appropriate costs related to the acquisition of fixed assets are capitalized.
• Reporting & Analysis:
• Prepare monthly, quarterly, and annual reports on capital expenditures and fixed assets for management and senior leadership.
• Analyze asset-related data to provide insights into capital spending trends, asset utilization, and investment performance.
• Assist with forecasting future capital expenditure requirements and the impact on the company s financial position.
• System & Process Improvements:
• Assist in the continuous improvement of capital expenditure and fixed asset tracking processes.
• Work with IT and finance teams to enhance systems for asset tracking, reporting, and compliance.
• Recommend process improvements to enhance accuracy and efficiency in managing capital expenditures and fixed assets.