This position is accountable for recording the cost of newly-acquired assets (both tangible and intangible), tracking new and existing assets, recording depreciation/amortization, and accounting for the disposition of assets, including calculations of proceeds on disposition & capital gains/losses.. In addition, the person in this role is expected to prepare a monthly roll forward of assets, the outcome of which provides inputs for the monthly Cash Flow statement.
This person will report to the Controller of Operations and will have continued communication with other Accounting Managers within lateral lines of responsibility in the corporation and the Controller of Operations, General Managers and other leaders within the Divisions.
This person will also maintain a working relationship with the Vice President – Physical Assets and his team to ensure continued alignment between the asset records of the company as represented by the General Ledger and associated Sub Ledgers and other records of physical assets maintained and/or used by the Physical Assets team.
For clarity, the company presently has 4 broad categories of assets that require accounting processes and record keeping:
1. Fixed Assets – primarily represented by a large vehicle fleet
2. Conversions – investments in Dealer contracts that have unique accounting requirements during the construction and amortization phase
3. Goodwill – Christensen is a private company that amortizes its goodwill. There is limited impairment testing required on an annual basis. Otherwise, amortization is straight forward on a 10-year basis.
4. Other Assets such as non-compete agreements and investments in customer lists. These assets have limited activity other than annual amortization.
Significant Activities & Deliverables:
NEW PROJECT COST ASSET MANAGEMENT:
Create and monitor a system of controls, procedures, and forms for the recordation of projects while in construction and for transfer to completed assets.
Recommend to management any updates to accounting policies related to fixed assets.
Issue Project Tracking numbers for all capital projects and track projects through construction and establish point for movement from CIP into Fixed Assets in use.
Review and analyze invoices in all CIP accounts monthly.
Track the compilation of project costs into asset accounts, and close out those accounts once the related projects have been completed.
Establish and instigate appropriate amortization rates, times and ensure monthly depreciation and amortization charges are adjusted accordingly.
Track company expenditures for assets in comparison to the capital budget and management authorizations.
Maintain and ensure all contracts associated with conversions have been properly documented and posted to the general ledger.
HISTORICAL AND OVERALL ASSET MANAGEMENT:
Check for completeness and accuracy of asset sub ledger and month-end closing activities such as account reconciliations, journal entries and adjustments.
Maintain asset system for accounting, processing and reporting of the assets
Organize and maintain asset documentations for references.
Calculate depreciation/amortization monthly for all assets.
Collaborate with team members to monitor asset additions, disposals and movements.
Record asset acquisitions and dispositions in the accounting system.
Prepare asset roll forwards monthly.
ANNUAL DUTIES, INCLUDING AUDIT:
Prepare audit schedules relating to assets and assist the auditors in their inquiries.
Prepare property tax returns.
Represent the company during any audits by a government that involve fixed assets.
Work with tax accountant to maintain asset records for tax filing activities.
Involve in technology upgrades and changes related to asset accounting as needed.
Provide Director of Finance weekly reports on expected cash receipts and disbursements.
Work effectively with senior operational leaders and demonstrate command over the business’s asset performance by being intimately conversant with each Division’s strategy, long range forecasts, budgets, ongoing forecasts and overall reported asset results.
Conduct periodic physical counts of assets.
Conduct analyses related to assets as requested by management
Other projects, as assigned
Leadership and Team Reach:
Assist in the restructure of internal accounting/processing procedures for all assets
Work as a part of the corporate team, ensuring accounting needs are handled at all times with an emphasis in customer service skills with a variety of department heads
Understand and live our Core Values
BS Degree in Accounting - required.
Lease and Contract management experience
Strong understanding of management and cost accounting principles
5+ years of experience in asset financial accounting
Work well under pressure and meet hard deadlines throughout year as well as Month-End Close deadlines
Candidate must be highly organized and have outstanding communication skills to be successful in this role