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  • Job reference: RMS0124701

Fixed Assets Accountant

  • Sector: Commercial
  • Location: Houston
  • Job type: Contract
  • Date posted: 21/05/2013
This vacancy has now been filled.

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The Company:
Our client is a major oil and gas operator.

The Role:
This position is within the Fixed Assets Team of the Petroleum Controllers Group and reports to the Global Finance Lead – Fixed Assets. This fixed assets team is responsible for the accounting, financial analysis and reporting of PP&E, depreciation, capitalized interest, abandonment, disposals, retirements and impairments across multiple currencies for all global assets, and includes ownership of the PP&E and depreciation in the fixed asset sub-ledger, general ledger, consolidation system and management reporting system. As an integral part of the team, the activities of this role will permeate numerous aspects of the overall responsibilities of the team, including such items as the following.

 Evaluate and resolve issues involving both the book and tax data in the fixed asset sub-ledger
 Evaluate and resolve issues involving the fixed asset data in the general ledger, consolidation system and management reporting system
 Develop, maintain and improve reports to assist in the evaluation of PP&E, depreciation and abandonment
 Develop Depreciable Assets in Fixed Asset Sub-Ledger
o Assign depreciation methods for both book and tax purposes
o Determine appropriate asset classes
o Determine appropriate useful lives
o Coordinate the update of settlement rules
 Coordinate the transfer of AUC/WIP assets to depreciable assets
 Develop production and reserve data for units-of-production depreciation
 Calculate and account for impairments
 Coordinate the accounting of abandonment liabilities
 Coordinate the accounting of disposals and retirements
 Develop consolidated journal entries and coordinate the accounting of the entries
 Develop manual journal entries and coordinate the accounting of the entries
 Analyze and develop capitalized interest values
 Analyze and develop salvage values
 Complete monthly and ad hoc management reporting requirements
 Analyze depreciation variances between actual and budget data
 Develop and maintain detailed procedure documents
 Integrate fixed asset data received from properties operated by other companies into fixed asset sub-ledger
 Perform and/or review account reconciliations related to fixed assets
 Coordinate physical fixed asset reviews and validate compliance
 Compile and evaluate data for regular detailed reviews of balance sheet
 Develop responses to requests from internal and external auditors
 Complete fixed asset requirements for statutory reporting
 Assume other responsibilities as required that arise through the evolution of the team

Essential Skills / Qualifications:
 Undergraduate degree in finance or accounting
 MBA and/or CPA preferred
 Two to five years of accounting and financial analysis experience, preferably in the upstream oil & gas business
 Demonstrated comfort working in an SAP-based (or similar) general ledger, business warehouse and consolidation system environment
 Ability to effectively communicate with numerous groups across various levels of the organization
 Desire to adapt and grow with the evolving needs of the Finance function
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