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Fixed Asset and Lease Accountant
1 month ago
Primary Location
Drive your Career
We love our cars, but it's the people behind them who make them what they are. To market, sell, and service great cars, we need great people. That's why at Volkswagen Group Canada, we are passionate about our cars and our brand and foster this same passion and drive in our people. We know that the right people in the right positions can do incredible things, and we love making that happen.
We are currently looking for a Fixed Asset and Lease Accountant at our Corporate Offices in Ajax, ON
The VGCA Accounting Shared Services Centre provides essential back-office accounting functions for General Ledger, Inventory, Accounts Receivable and Affiliates, Accounts Payable and Fixed Assets for multiple VW Group Companies including Volkswagen, Audi, Bentley, Lamborghini, Chattanooga factory production and electric vehicle infrastructure in Canada and the United States.
This Fixed Asset and Lease Accountant is responsible for all accounting functions related to the Fixed Assets and IFRS16 lease processes. They are responsible for reviewing all fixed asset requests for compliance, creating fixed asset accounts, and monitoring asset activity for correct capital spending. Additionally, they analyze CIP/AUC projects for compliance and capitalize completed projects according to the VW Handbook. This position also provides the data (continuity schedule) required for accurate and timely reporting through the monthly packages to Germany.
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 maintain an updated file of abstracts for reference and audit purposes (internal and external). Furthermore, 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 Germany.
**This is a hybrid flex position**
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 VW 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 capital spend 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 VW 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.
Qualifications:
- Bachelor's Degree in Accounting and/or equivalent work experience.
- 3+ years of relevant experience in a professional office environment.
- Intermediate to advanced understanding of MS Office (Excel, Word, PowerPoint).
- Strong written, oral, and presentation skills to document, articulate, and convey functions and processes. Analytical skills – Ability to dissect complex accounting and financial processes and identify risks and process improvements.
- Excellent organizational skills.
- Ability to work well under daily and monthly deadlines.
- Ability to respond quickly to a changing environment.
- Team player and customer focused.
- Proficiency with IAS 16, IAS 38, and IFRS 16.
- Working knowledge of SAP.
- Strong business acumen – understanding of large, complex organizations and ability to interact with all levels of an organization.
What you'll get in return:
- A flexible and collaborative team dynamic.
- Opportunities to participate in exciting company events that give back to the community.
- Competitive employer paid benefits and overall compensation package.
- And much more
*Please note that we appreciate the interest of all candidates; however, only those under consideration will be contacted.
Volkswagen Group Canada Inc. is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability, or any other characteristic protected by federal or local laws.
Volkswagen Group Canada Inc. is committed to providing accommodations for people with disabilities during all phases of the hiring process including the application process. If you require an accommodation because of a disability, we will work with you to meet your needs. Applicants need to make their needs known in advance. If you are selected for an interview and require an accommodation, you are encouraged to advise the Recruiter who will consult with you to determine an appropriate accommodation.
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