Fixed Assets Accounting - Sr. Executive/AM

Euler Motors; New Delhi; On-site; INR 600,000 - 1,200,000; Full time

Job summary

Euler Motors is seeking a detail-oriented Fixed Asset Accountant to manage the FAR, capitalization and depreciation. You will liaise with Finance, Plant Operations, Engineering and Procurement to ensure accurate asset records and reporting.

The role requires knowledge of Ind AS 16, SAP FICO or ERP systems, and advanced Excel skills to handle large datasets and reconciliations with precision.

Qualifications

Responsibilities

• Maintain Fixed Asset Register (FAR) with details for machinery, plant equipment, vehicles and IT assets.
• Coordinate asset acquisitions, transfers, disposals and retirements and ensure proper documentation.
• Oversee asset capitalization, CWIP tracking and project completion details with Engineering and Procurement.
• Calculate and post monthly depreciation, maintain NBV and asset costs.
• Perform monthly FAR reconciliation with GL and coordinate physical verifications.
• Support audits with fixed asset schedules and reconciliations, adhering to Ind AS 16.

Job description

Role Overview

We are looking for a detail-oriented Fixed Asset Accountant to manage the Fixed Asset Register (FAR), asset capitalization, depreciation and reconciliation activities. The role will involve coordinating with Finance, Plant Operations, Engineering and Procurement teams to ensure accurate accounting and reporting of the company's fixed assets.

Key Responsibilities

1. Fixed Asset Register Management

• Maintain and update the Fixed Asset Register, ensuring accurate records of machinery, plant equipment, vehicles, IT infrastructure and other company assets.
• Track asset acquisitions, transfers, disposals and retirements.
• Ensure proper asset classification, tagging and documentation.

2. Asset Capitalization & CWIP

• Manage the capitalization of fixed assets in accordance with applicable accounting standards and company policies.
• Monitor Capital Work in Progress (CWIP) and ensure timely capitalization of completed projects.
• Coordinate with Engineering, Procurement and Plant teams to obtain project completion and commissioning details.
• Review capital expenditure documents and ensure appropriate accounting treatment.

3. Depreciation & Accounting

• Calculate and record monthly depreciation in accordance with applicable accounting standards and company policies.
• Maintain accurate records of asset costs, accumulated depreciation and net book value.
• Prepare and post fixed asset-related journal entries as part of the month-end closing process.

4. Reconciliation & Physical Verification

• Perform monthly reconciliation of the Fixed Asset Register with the General Ledger.
• Coordinate periodic physical verification of assets across manufacturing facilities and offices.
• Investigate and resolve discrepancies between physical assets and accounting records.

5. Audit & Compliance

• Support internal and statutory audits by providing fixed asset schedules, supporting documents and reconciliations.
• Ensure compliance with applicable Ind AS requirements, particularly Ind AS 16 (Property, Plant and Equipment).
• Maintain proper documentation and ensure adherence to internal controls and company policies.

Candidate Requirements

• Bachelor's degree in Commerce (B.Com), preferably with a postgraduate qualification in Finance or Accounting.
• 46 years of relevant experience in Fixed Asset Accounting, preferably in the manufacturing or automotive industry.
• Strong knowledge of fixed asset accounting, capitalization, depreciation, CWIP and asset reconciliation.
• Working knowledge of Ind AS 16 and applicable accounting principles.
• Hands-on experience with SAP FICO or other ERP systems.
• Advanced Excel skills, including working with large datasets, Pivot Tables and lookup functions.
• Strong analytical skills, attention to detail and the ability to coordinate with cross-functional teams.

Preferred Experience

• Experience managing fixed assets in a manufacturing environment, particularly plant and machinery.
• Exposure to capital expenditure accounting and manufacturing facility setup.
• Experience coordinating physical asset verification and statutory audits.

Key Competencies

• Strong accounting and reconciliation skills.
• Analytical thinking and problem-solving abilities.
• Attention to detail and accuracy.
• Effective stakeholder management.
• Ability to meet month-end closing deadlines.