ACCOUNTANT: ASSETS MANAGEMENT

ACCOUNTANT: ASSETS MANAGEMENT
Task Grade 12: R349 832.04 – R454 092.48 per. annum plus the normal fringe benefits
REQUIREMENTS
• Matric /Grade 12, National Diploma in Accounting or equivalent (NQF Level 6) and Minimum Competency Level (MFMP). MS- COA knowledge will be an added advantage.
• Computer Literacy
• 2-3 years relevant experience.
RESPONSIBILITIES
• Develop and maintain Councils Fixed Assets including Work in Progress Register and Infra- structure Inventory Listings in order to ensure that there is proper control of municipal assets.
• Develop and maintain a summary schedule of all spending from projects that are signed-off by the technical departments in charge of these projects. Extract accounting trans- actions associated with asset acquisitions, depreciation, gains and losses on disposal, project WIP management.
• Provide detailed reports to enable the timely preparation of Councils AFS, budget and other financial asset management purposes.
• Advise departments on the accounting treatment for relevant projects based on Accounting Standards and regulations.
• Develop and maintain the Fixed Assets Reg- ister in accordance with the National Treasury guide for a GRAP compliant asset register in terms of all fields required.
• Preparing all registers according to the correct accounting method i.e. Cost method or Fair value method.
• Preparing and Reconciling the registers (FAR) with the financial system and financial statements.
• Prepare and maintain all information that is in an audit file to serve as audit evidence that warrants or justifies all movements.
• Perform and monitor that annual verification of all Councils assets is conducted and updat- ed on to the Fixed Assets Register.
• Develop and maintain registers that are in line with the internal Asset Management Policy and procedure manual.
• Develop and maintain summary reports that outline which assets were disposed, impaired, written off or transferred for e

• Implement all necessary changes as effected by the ASB in a form of Directives issued by the ASB.
• Verify and validate whether Immovable Assets should be disposed of.
• Conduct analyses related to fixed assets as requested by Manager Assets and Inventory. • Prepare audit schedules relating to Movable
and fixed assets, and assist the auditors in
their enquiries.
• Be available during any audits that involve
fixed assets.
• Track all expenditure for fixed assets in com-
parison to the capital budget and manage- ment authorizations, in order to ensure that there is proper control of municipal Assets.
• Prepare Municipal Inventory Listing on a weighted average costing model for Infra- structure Assets.
• Develop and maintain a WIP Schedule and reconcile to capital spending (an account of all projects that are currently under construc- tion).
• Prepare and maintain a Depreciation Sched- ule that is a summary of all depreciation coming from the sixteen (16) asset registers that we have.
• Prepare and maintain a summary schedule of all spending from projects that is signed-off by the technical departments in charge of these projects.
• Prepare and maintain Inventory Listing for all Infrastructure Assets.
• Prepare and maintain sufficient and appro- priate evidence with regards to change in estimates, Prior Year Errors, Impairment and Capitalization of Assets.
• Inspect expenditure line items to ensure
that all items purchased which are capital in nature should be Capitalized and included in the relevant Asset Register.
• Prepare and maintain journals for items that are capital in nature in the expenditure vote to be capitalized.
• Prepare and maintain reconciliation for acquisitions, ensuring it is traced back to the general ledger.
• Prepare and maintain reconciliation between the registers and the General Ledger to ensure that all Acquisitions are accounted for.
• Develop and maintain reconciliation between AFS, FAR and SAMRAS Asset Module.
• Develop and maintain depreciation and Impairment report for Budget purposes.
• Develop and maintain a monthly reconciliation of the Infrastructure Inventory Listing.
• Investigate and report on variances.
• Developing and maintaining accounting poli- cies, procedures and controls in accordance
with sound accounting principles, applicable
regulations and laws as well as best practice • Ensuring that all assets are accounted for
correctly and accurately.
• Ensuring that items capitalized do exist. • Onsite verification for projects that work
is being paid for and completed to ensure correct and accurate information of the Asset for unbundling purposes.
• Supervising the performance of subordinates. • Providing advice and direction on daily duties. • Recommending disciplinary action and under-
taking preliminary investigations.
• Obtain and reconcile paper trail for all new
acquisitions and prepare audit file.
• Obtain progress on Work in Progress projects
and update WIP register.
• Perform physical verification on projects on
site to align spending to progress on site.
• Perform reconciliation between Capital Ex-
penditure and Grant reporting for complete-
ness of transactions.
• Advise Departments on the methodology and
ensuring that it is aligned with GRAP.
• Inspect verification outcomes and ensuring
that all information added, amended or to be removed from the register is in line with the Internal Asset Management Policy and procedure manual.
• Obtain evidence and prepare audit file for all disposed, impaired, write-off’s and change in estimates.
• Obtain list and supporting documents from Departments on all assets that are obsolete or write-offs and prepare Journal and apply accounting treatment to the relevant registers.
• Physically inspect this item and ensuring that they exist and are obsolete and redundant.
• Remove this item from the Asset Register