Overview
Fixed Asset Accountant Jobs in Riyadh, Saudi Arabia at Alsalam Aerospace Industries
Title: Fixed Asset Accountant
Company: Alsalam Aerospace Industries
Location: Riyadh, Saudi Arabia
The Fixed Assets & Inventory Specialist/Supervisor plays a crucial role in managing AAI’s fixed assets and inventory to ensure accurate financial reporting, compliance, and operational efficiency. This role is responsible for maintaining asset records, monitoring inventory movements, ensuring proper capitalization, ensure end to end process to ensure correct recording and reporting, comply with AAI policy for data management and verification and supporting audits.
Key Responsibilities:
Fixed Assets Management:
Maintain and update the fixed assets register, ensuring accurate classification, valuation, and depreciation in compliance with IFRS and company policies.
Oversee the capitalization process for assets under construction and ensure timely transfer to operational assets.
Conduct periodic fixed asset verification as per AAI policy and reconciliation with financial records to ensure completeness and accuracy.
Support asset impairment testing and ensure compliance with IAS 16 and IAS 36 for asset valuation.
Collaborate with departments to ensure proper asset tagging, tracking, and disposal procedures.
Assist in preparing fixed asset schedules and reports for financial audits and regulatory compliance.
Review current AAI procedures and enhance for effective policy and controls.
Inventory Management & Control:
Monitor and reconcile inventory records between financial systems and operational warehouses to ensure accuracy.
Assist in inventory valuation and ensure compliance with IAS 2 (Inventories) and company accounting policies.
Conduct periodic stock counts and variance analysis, investigating discrepancies and recommending corrective actions.
Support cost allocation for inventory transactions, ensuring proper recording and cost controls.
Work closely with supply chain and warehouse teams to optimize inventory levels and minimize obsolescence.
Assist in identifying slow-moving and obsolete inventory and ensure appropriate provisioning.
Reporting & Compliance:
Prepare fixed asset and inventory-related financial reports, schedules, and reconciliations for monthly, quarterly, and annual reporting.
Support internal and external audits by providing necessary reports, reconciliations, and documentation.
Ensure compliance with company policies, IFRS, and regulatory requirements related to asset and inventory management.
Process Improvement & Strategic Support:
Assist in developing and improving policies and procedures related to fixed assets and inventory management.
Identify opportunities for automation and efficiency improvements in asset and inventory tracking.
Support system implementations and enhancements related to fixed asset and inventory modules within the ERP.
Collaborate with cross-functional teams to improve asset utilization and inventory optimization strategies.
Lead or contribute to special projects related to asset and inventory optimization.
Stay updated on regulatory changes and best practices in fixed asset and inventory management.
Support management with ad-hoc analysis and reporting as required.
Bachelor’s degree in Finance, Accounting or a related field.
A minimum of 5 years of experience in fixed asset accounting, inventory management, or a related finance role.
Strong knowledge of IFRS (IAS 2, IAS 16, IAS 36) and asset/inventory management best practices.
Proficiency in ERP systems and fixed asset/inventory modules.
Strong analytical, reconciliation, and problem-solving skills.
Excellent attention to detail and organizational skills.
Strong communication and teamwork abilities to collaborate with finance, operations, and supply chain teams.
