Lease & Fixed Asset Accountant

REPORTING RELATIONSHIPS:

This position reports directly to the Corporate Controller.

PRINCIPAL OBJECTIVE:

The Fixed Asset and Lease Accountant is responsible for managing the company’s fixed asset and lease accounting functions, ensuring accurate and timely reporting in accordance with accounting standards and company policies. This includes tracking the acquisition, depreciation, disposal, and impairment of fixed assets as well as ensuring compliance with lease accounting requirements under the latest standards (e.g., ASC 842 or IFRS 16). The ideal candidate will have strong technical accounting skills, attention to detail, and the ability to collaborate across multiple departments.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

• Capital Expenditure (CapEx) Accounting
  • Oversee the entire capital expenditure (CapEx) process, from initial project evaluation through to asset capitalization
  • Review and process capital expenditure documentation, ensuring compliance with internal policies and financial regulations
  • Coordinate with various departments and locations to review quotes and gather necessary documentation for capital projects
  • Manage the preparation of capital expenditure request forms and ensure accuracy of financial information
  • Perform Return on Investment (ROI) and cost-benefit analysis on proposed projects to determine financial viability and alignment with business goals
  • Monitor and track capital expenditures to ensure projects stay within budget and adhere to deadlines
• Fixed Asset Accounting:
  • Manage the full lifecycle of fixed assets, from acquisition through to disposal
  • Ensure timely and accurate recording of asset transactions in the general ledger via an ERP system.
  • Manage asset additions, transfers, and disposals, within the ERP system, ensuring all entries follow accounting standards
  • Maintain fixed asset registers and ensure their accuracy
  • Oversee fixed asset inventory observations
  • Perform periodic fixed asset reconciliations to ensure balances are accurate.
• Lease Accounting:
  • Review and maintain compliance with lease accounting standards (e.g., ACS 842, IFRS 16).
  • Review and track lease contracts through lease accounting software, ensuring the proper classification and accounting treatment of both operating and finance leases.
  • Maintain lease schedules for lease liabilities and right-of-use (ROU) assets through lease accounting software
  • Record lease-related journal entries and adjustments as necessary in the ERP system.
  • Coordinate with internal and external stakeholders to gather lease-related information
  • Oversee lease-related disclosures for financial reporting
• Financial Reporting:
  • Assist with the preparation of monthly, quarterly, and annual financial reports related to fixed assets and leases.
  • Ensure Proper integration of fixed asset and lease data with the overall financial statements
  • Collaborate with auditors during year-end audit processes by providing necessary schedules and documentation.
  • Process Improvement and Compliance:
  • Recommend and implement process improvements to streamline the fixed asset and lease accounting functions
  • Ensure compliance with internal controls, company policies, and accounting standards.
  • Stay updated on changes to accounting standards (GAAP, IFRS) and incorporate them into company processes.
• Perform other work-related duties as requested or required.

QUALIFICATIONS:

• Be able to succeed within and adhere to the culture of the Furst-McNess Company.
• Ability to perform essential job functions with or without accommodation.
• A bachelor’s degree or higher in Accounting or Finance
• Certified Public Accountant (CPA), Certified Management Accountant (CMA), or other relevant certifications are a plus.
• Minimum of 3-5 years of experience in accounting, with at least 2 years focused on fixed assets and lease accounting.
• Strong knowledge of accounting principles, particularly related to fixed assets (e.g., capitalization, depreciation) and lease accounting standards (e.g., ASC 842, IFRS 16).
• Experience with ERP systems, SAP preferred
• Experience with lease accounting software preferred
• Familiarity with tax implications related to fixed assets and leases preferred
• Proficiency in Microsoft Excel
• Strong analytical and problem-solving skills
• Excellent attention to detail and accuracy
• Ability to work independently and manage multiple priorities in a fast-paced environment
• Strong communication and interpersonal skills, with the ability to work collaboratively across departments.
• Ability to read, write and speak English.
• Good communication skills, both oral and written, and can utilize these skills within all levels of the Company as well as externally.
• Ability to provide outstanding customer service to all associates and management staff, showing a sense of urgency relative to solving problems, performing assigned tasks, employee concerns, etc.
• The ability to effectively organize work schedules and manage multiple assignments by utilizing time management skills to ensure day-to-day assignments and special projects are completed within guidelines agreed upon.
• Ability to work as an effective team member within the accounting department and company, as a whole. Willingness to pitch in and do work that may not be a specific part of the job description for the overall good of the department and company.
• Able to be flexible and be willing to change along with recommending changes that can enhance our ability to serve both internal and external customers more effectively and in a professional manner.
• Respect other people’s points of view and be able to take constructive criticism.
• Ability to travel, either by car or plane, including overnight stays, as business dictates. Must always possess a valid driver’s license and maintain a good driving record (within guidelines set forth in company vehicle policy).