Fixed Assets & Cost Accounting Analysis

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Position Summary
The Fixed Assets & Cost Accounting Specialist is responsible for fixed asset accounting, inventory costing, cost analysis, and related financial reporting activities within a manufacturing environment. This position ensures compliance with US GAAP, Sarbanes-Oxley (SOX) requirements, company policies, and local statutory regulations.
The role supports accurate product costing, inventory valuation, capital expenditure accounting, month-end closing processes, and internal control compliance while partnering with manufacturing and operational teams to provide timely and reliable financial information.
Key Responsibilities
A. Fixed Asset Accounting
Fixed Asset Management
- Record and maintain fixed asset transactions, including acquisitions, transfers, depreciation, and disposals.
- Ensure fixed asset capitalization complies with VAS and US GAAP requirements.
- Maintain accurate fixed asset registers and supporting documentation.
- Prepare monthly depreciation calculations and journal entries.
- Monitor Construction-in-Progress (CIP) accounts and ensure timely capitalization of completed projects.
- Assist in reviewing Capital Expenditure (CAPEX) requests and supporting documentation.
- Fixed Asset Reconciliation & Verification
- Perform monthly fixed asset reconciliations.
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Perform periodic physical asset verification and annual fixed asset counts.
- Investigate and resolve discrepancies identified during asset verification.
- Prepare reports related to fixed asset movements and balances.
B. Cost Accounting & Inventory Accounting
Product Costing
- Maintain standard costs within the SAP system.
- Perform cost roll and standard cost updates as required.
- Analyze material, labor, and manufacturing overhead costs.
- Review Bills of Materials (BOMs) and routing structures for costing accuracy.
- Inventory Accounting
- Monitor inventory transactions and ensure accurate inventory valuation.
- Prepare inventory reconciliations and inventory-related journal entries.
- Support cycle count and physical inventory activities.
- Analyze inventory reserves, slow-moving, excess, and obsolete inventory.
- Manufacturing Cost Analysis
- Perform monthly variance analysis, including:
- Material Price Variance
- Material Usage Variance
- Labor Variance
- Manufacturing Overhead Variance
- Purchase Price Variance (PPV)
- Investigate significant cost variances and provide explanations.
- Prepare cost reports and manufacturing performance analyses for management.
C. Financial Closing & Reporting
- Support month-end, quarter-end, and year-end closing activities.
- Prepare journal entries related to fixed assets, inventory, and costing.
- Prepare balance sheet reconciliations and supporting schedules.
- Assist in the preparation of financial reports and function reports.
- Ensure accounting records are complete, accurate, and properly supported.
D. SOX Compliance
- Execute assigned SOX controls related to fixed assets, inventory, and cost accounting processes.
- Prepare and maintain required SOX documentation and evidence.
- Support management testing and audit requests related to SOX controls.
- Identify and report control deficiencies to management.
E. Business Support & Process Improvement
- Collaborate with Manufacturing, Operations, Procurement, and Supply Chain teams.
- Support new product costing and profitability analysis.
- Assist with cost reduction initiatives and operational improvement projects.
- Identify opportunities for process optimization and automation.
- Participate in SAP enhancements and finance transformation projects.