Overview
– The Assistant Manager – Capex Accounting will be a crucial member of the Finance team, responsible for the accurate and timely recording, tracking, and reporting of the company’s capital expenditures (Capex) and fixed assets.
– This role ensures compliance with internal policies, Indian Accounting Standards (Ind AS), and International Financial Reporting Standards (IFRS).
– The ideal candidate will possess strong analytical skills, attention to detail, and a thorough understanding of asset capitalization processes in an Enterprise Resource Planning (ERP) environment.
Key Responsibilities and Accountabilities:
Capex Management and Accounting:
– Accurate Recording and Tracking: Assist in the meticulous recording, tracking, and capitalization of all capital expenditures, ensuring adherence to established accounting standards (Ind AS/IFRS) and internal company policies.
– Invoice and Documentation Verification: Review, verify, and process Capex-related invoices, purchase orders, and supporting documentation for accuracy, proper authorization, and compliance before payment and capitalization.
– Cost Allocation: Coordinate closely with the Procurement and Project Management teams to ensure the correct and consistent allocation of project costs to the appropriate Capex codes and projects.
Asset Capitalization:
– Proactively track project-wise Capex spend to identify assets that are completed and ready for capitalization.
– Prepare and verify asset capitalization entries in the ERP system, ensuring they align precisely with company policy on componentization and useful life, as well as Ind AS/IFRS requirements.
Budgeting and Reporting:
– Assist in tracking and monitoring actual Capex spend against approved budgets.
– Analyze and highlight significant variances between budget and actual expenditure, contributing to timely and accurate budget vs. actual reporting for management review.
Audits and Compliance:
– Audit Support: Provide comprehensive support for statutory, internal, and tax audits by preparing detailed schedules, providing necessary documentation, and addressing audit queries related to Capex and fixed assets.
– Policy Compliance: Ensure all Capex processes, from acquisition to disposal, are executed in full compliance with relevant accounting standards and regulatory requirements.
– Stakeholder Communication and Liaison
– Inter-Departmental Coordination: Act as a key liaison, maintaining effective communication with Project Management, Procurement, and Plant teams to gather timely updates, resolve discrepancies, and seek clarifications on Capex transactions and project completion status.
– Documentation Maintenance: Maintain a robust and organized repository of all Capex documentation, including final cost sheets and capitalization records.
Qualifications and Skills:
Education and Experience:
– A professional qualification such as CA (Chartered Accountant) or CPA/CMA is strongly preferred.
– Experience: 3 to 5 years of progressive experience in Finance/Accounting, with a significant focus on Capex accounting, fixed assets management, and project accounting, ideally within a large manufacturing, infrastructure, or project-driven environment.
Skills and Competencies
Technical Expertise:
– In-depth knowledge of Indian Accounting Standards (Ind AS), specifically Ind AS 16 (Property, Plant and Equipment) and other relevant standards.
– Proficiency in MS Excel for data analysis, reconciliation, and reporting.
– Hands-on experience with a major ERP system (e. , SAP, Oracle, Microsoft Dynamics) for fixed asset module management is essential.
– Analytical Skills: Excellent analytical, problem-solving, and reconciliation skills with a meticulous attention to detail.
– Communication: Strong written and verbal communication skills for effective internal and external stakeholder management.
– Work Style: Ability to work independently, manage multiple priorities, meet strict deadlines, and thrive in a fast-paced environment