Fixed Asset and Lease Accountant - Full time permanent - Hybrid - Ajax, ON
This Fixed Asset and Lease Accountant is responsible for all accounting functions related to the Fixed Assets and IFRS16 lease processes. Responsible to review all fixed asset requests for compliance, creates fixed asset accounts and monitors the asset activity for correct capital spending. They also analyze CIP/AUC projects for compliance and capitalize completed projects according to the company handbook. In addition, they also provide the data (continuity schedule) required for accurate and timely reporting, through the monthly packages to Global head office.
This position is also responsible for managing leases under IFRS16. The Fixed Asset and Lease Accountant coordinates with Controlling, Business and Legal teams regarding leased properties. They review lease abstracts and keep an updated file of abstracts for reference and for audit purposes (internal and external). Further, they ensure that the lease contracts have been correctly entered into the Group systems (GLC) to ensure accurate postings of financials are reflected in the ledger and included in the ultimate reporting to Global head office.
Responsibilities:
- Review all new fixed asset requests (including intangibles) for compliance, create fixed asset accounts in SAP and monitor for correct capital spending.
- Analyze construction-in-progress (CIP)/asset-under-construction (AUC) projects for compliance and capitalize completed projects in accordance with the IFRS Accounting Handbook.
- Verify, analyze and record all disposals related to property, plant and equipment and intangible assets while maintaining a backup file for audit.
- Periodically liaise with financial consultants regarding zero book value assets to ensure appropriate disposal and decommissioning of those identified as not in use.
- Post monthly depreciation and retirements in Asset Management.
- Reconcile Fixed Asset sub-ledger with SAP general ledger.
- Liaise with the property management company regarding all property projects and leases to capture complete and accurate property detail as well as review abstracts as required.
- Monitor rental payments, handle lease amendments and ensure charges conform to lease agreements and accounting policies established as required.
- Enter and maintain records of IFRS16 leases in Group System (GLC) and run monthly entries.
- Reconcile lease liability payable for the month with payments for IFRS16 leases.
- Prepare monthly input file for FACTs reporting in accordance with IFRS, including reconciliation of capitals pend details for financial controlling, as required, and reconciliation of SAP and GLC system.
- Prepare and post monthly rent entries for finance leases.
- Support controlling teams with solutions on property, plant and equipment, intangible assets as well as leases related accounting topics by performing research in the IFRS Accounting Handbook, and prepare accounting memos to document the research.
- Provide details as required to company auditors, both external and internal.
- Provide support to complete Canadian and US census surveys.
- Manage the annual fixed assets physical inventory count and verification process.
- Coordinate with the controlling, business and legal teams to ensure the complete and accurate reporting of leased property in accordance with IFRS 16.
- Keep up to date with IFRS changes and IFRS Handbook revisions with respect to property, plant and equipment, intangible assets, and leases, particularly developments regarding convergence.
- Work with controlling to assess impairment of fixed assets based on group guidelines
- Participate in the process of monthly, quarterly and annual accounting close, including booking and review of journal entries, monthly reporting requirements and financial analysis
Requirements
Formal Education
Bachelor's Degree in Accounting and/or equivalent working experience
Experience
- 3+ years of relevant accounting experience.
- Experience with fixed asset accounting, lease accounting, financial reporting, month-end close activities, and reconciliations.
- Experience applying IFRS accounting standards, including IAS 16, IAS 38, and IFRS 16.
- Experience working with SAP and supporting audit requirements.
Competencies
- Strong analytical and problem-solving skills with the ability to assess complex accounting transactions and identify process improvements.
- Excellent organizational and time management skills with the ability to manage multiple priorities and meet strict deadlines.
- Strong written and verbal communication skills with the ability to explain accounting concepts to various stakeholders.
- Strong attention to detail and commitment to accuracy.
- Ability to adapt to changing business requirements in a fast-paced environment.
- Customer-focused team player with strong interpersonal skills.
Specialized Skills, Knowledge, or Certifications
- Intermediate to advanced understanding of Microsoft Office (Excel, Word, PowerPoint).
- Proficiency with IAS 16, IAS 38, and IFRS 16.
- Working knowledge of SAP.
- Knowledge of property, plant and equipment, intangible assets, leases, and financial reporting.
