Fixed Assets & Capitalization Specialist / Finance Manager

Purpose of the Role

To manage fixed asset accounting, land and lease accounting, depreciation accounting, reconciliations, compliance requirements, and financial reporting in accordance with accounting standards, internal controls, and SOX requirements.

Key Responsibilities

Lease & Land Accounting

1. Perform lease deed calculations and pass accounting entries in compliance with applicable accounting standards.
2. Carry out sale deed calculations and record related accounting transactions.
3. Prepare sub-lease workings and pass necessary accounting entries.
4. Account for Right of Way (ROW) and Crop Compensation (CC) charges and maintain supporting schedules.
5. Manage land advance accounting, settlements, and closure of outstanding advances.
6. Transfer balances from farmers to developers and ensure proper accounting treatment.
7. Manage, maintain and record leases in lease tool.
8. Reconcile SAP ROU balance with lease tool output.

Reconciliation & Reporting

1. Prepare and review Fixed Assets versus General Ledger (FA vs GL) reconciliation schedules.
2. Execute periodic FA vs GL Reconciliation.
3. Prepare monthly, quarterly, and annual fixed asset reports.
4. Analyze and resolve reconciliation differences on a timely basis.

Depreciation Accounting

1. Prepare depreciation schedules and ensure accurate depreciation calculations.
2. Review depreciation postings and investigate unusual variances.

Vendor & Settlement Management

1. Perform land vendor account clearing and reconciliation activities.
2. Coordinate with project, procurement, and finance teams for closure of aged items.

Compliance & Internal Controls

1. Ensure compliance with SOX requirements and internal control frameworks.
2. Maintain audit-ready documentation for fixed asset and capitalization transactions.
3. Support internal, statutory, tax, and management audits.

Key Deliverables

1. Accurate lease, sale deed, and sub-lease accounting.
2. Timely capitalization of assets and project costs.
3. Monthly FA vs GL reconciliation with zero unresolved differences.
4. Accurate depreciation computation and reporting.
5. Timely vendor and land advance closures.
6. Compliance with SOX controls and audit requirements.
7. Proper maintenance of fixed asset records and schedules.