Home Saudi Arabia Fixed Asset Assistant Manager

Home Saudi Arabia Fixed Asset Assistant Manager

Fixed Asset Assistant Manager

Full time at Panda Retail Company in Saudi Arabia
Posted on January 29, 2025

Job details

Maintain a suitable control environment for Fixed asset function:

  • Assist Fixed asset manager in reviewing fixed asset process Policies and procedures, identify process improvement opportunities (SOP), develop and implement SOP catering to gaps, and perform regular assessments to ensure that controls are operating as intended.
Maintain Fixed Asset Register:
  • Improve the accuracy of the fixed asset register.
  • Enhance internal control on fixed assets addition, disposals, transfers, impairment recording, and depreciation.
  • Oversee and review the addition and deletion of fixed assets.
  • Ensure all additions to fixed assets in the ground are reflected in the fixed asset register in a timely manner and that depreciation is started on these assets promptly.
  • Maintain proper allocation of assets by location and custodian.
  • Manage the cleanup of the fixed asset register on a monthly basis.
  • Monthly review the calculation of depreciation of assets, including useful lives, changes in related estimates, residual values, and depreciation methods.
  • Process fixed asset retirement requests in line with policies and procedures on an ongoing basis.
  • Assist GL team in the annual impairment assessment exercise.
  • Manage timely and accurate tagging of fixed asset additions on a monthly basis.
Physical Inspection on Fixed Asset:
  • Manage physical inspection and tagging of fixed assets by creating a process and team to handle the physical inspection of each store, warehouse, and compound across the country.
  • Verify and maintain all records related to physical counts, including sheet-to-floor and floor-to-sheet variances.
  • Report sheet-to-floor and floor-to-sheet differences to management at least annually and propose necessary actions to align the fixed asset register with the position on the ground.
  • Coordinate with other departments to update asset details, model, make, serial number, etc., in the fixed asset register.
Fixed Asset Daily and Monthly Closure activities:
  • Manage daily fixed asset processes to ensure accounting procedures performed by the team occur accurately and in a timely manner.
  • Review monthly and quarterly fixed assets reporting and perform variance analyses for fixed assets accounts.
  • Recommend to management any updates to accounting policies related to fixed assets.
  • Respond to queries from different business units.
  • Assist the FA Manager with monthly journal entry review and various fixed assets account analyses, as needed.
  • Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.
  • Prepare monthly schedules and schedules required for quarterly review and annual audit.
  • Make asset disposal transactions in the system.
Skills Qualifications: Minimum Bachelor's degree in accounting. Preferred certificates: ACCA, CA, CMA, ICAEW/SOCPA. Experience:
  • Minimum 6 years of experience, including 4 years in fixed assets.
  • Experience working in Oracle Fusion.
Key Competencies:
  • Financial and analytical skills.
  • English & preferably Arabic proficiency.
  • High skills in working with Microsoft Office, Visio, and Asset Tracking.
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