Fixed asset responsibilities are moderately complex in nature and require a professional accountant to effectively conduct these accounting functions and assignments. Fixed asset accountant assists in supporting capital expenditures and fixed assets, handling the ad hoc reporting, and analyzing the capital assets and projects.
He is also responsible for conducting the transactional processing, performing the month end activities and doing all the account reconciliation work. While doing these duties, he ensures that it is in compliance with the professional legal practices and standards, and also with the organization's policies and procedures.
The level of the fixed asset accountant responsibilities vary depending on the size and type of the organization. It is mostly related to maintaining the records of fixed assets, entering accurate financial data, involved in developing inventory policies and procedures, reporting, and performing other related tasks as per requirement. He identifies the fixed assets of the organization, estimates its depreciation value, and ensures that it is being constantly tracked and maintained in an appropriate way.
To get a more clear idea, here are a few points that will explain in detail the key responsibilities that need to be handled by a fixed asset accountant:
The minimum educational qualification to apply for the post of a fixed asset accountant is a bachelor's degree in accounting, finance, tax, auditing, etc. Those with an advanced degree or a CPA qualification and practical working experience would definitely have an advantage.
The weekly routine of a fixed asset accountant normally does not extend beyond thirty five to forty five hours per week. If he has to complete some pending work on a priority basis, he may extend his duty hours late in the evenings or at nights or may even work on weekends and holidays. He may be required to travel occasionally.
The average salary of a fixed asset accountant is $50,000. Entry level candidates can get a minimum salary of $32,000, while the maximum can go up to $60,000.
Those having an accounting experience and education can definitely move up to senior level positions and acquire a senior post like a financial analyst. The career opportunities in this field really look promising and rewarding. This can definitely be one of the most lucrative career options for those interested in taking up this profession.
Thus, before you apply for the post of a fixed asset accountant, make sure you are well aware of the fixed asset accountant responsibilities, which will not only help you in developing professionally, but also assist in developing your personal skills.