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Open nowPosted 14 days ago

Deputy Manager - Fixed Asset Accounting

Piramal Pharma Solutions227 open roles

Where
Mumbai, MH
Work mode
On site
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Your applicationOpen nowDeputy Manager - Fixed Asset AccountingPiramal Pharma Solutions · Mumbai, MH
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The clock on this job

Early applications get read.

12.3% of postings close within 7 days. Measured by our own scanner across the market. Piramal Pharma Solutions postings stay open a median of 26 days.

Share of postings closed within
  1. 2.1%1 day
  2. 4.5%3 days
  3. 12.3%7 days
  4. 19.3%14 days
  5. 35.6%30 days
  6. 58.1%60 days
This job: posted 14 days ago

Piramal Pharma Solutions median: 26 days open

The posting

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Job Description

Deputy Manager - Fixed Asset AccountingWork to ensure the entire fixed asset lifecycle from acquisition to disposal, including capitalization, depreciation, amortization, retirements, and transfers is done on time •Reconcile fixed asset Subledgers to the general ledger. •Prepare journal entries for fixed asset transactions. •Prepare reports on fixed asset activity, including depreciation expense and changes in asset values. •Help the site teams with data required for Physical fixed assets verification •Ensure accurate and up-to-date fixed asset records in SAP, including asset master data, depreciation schedules, and transaction history. •Interface with other departments, such as accounting, operations, and IT, on fixed asset matters. •Stay up-to-date on changes in fixed asset accounting standards and regulations. •Prepare and analyze fixed asset reports after the accounting period close •Ensure all fixed asset accounting procedures are documented and kept up to date with proper sign off’s •Troubleshoot and resolve fixed asset accounting issues. •Provide support and training to other staff on fixed asset accounting matters. •Support Stat/Internal, and other audits with data and clarifications required on Fixed Assets process

Key Responsibilities

  • Manage budget allocation and budget transfers in SAP Investment Management (IM) and Project Systems (PS) modules for capital expenditure (CAPEX) requisitions.
  • Maintain the Capital Work-in-Progress (CWIP) tracker to ensure accurate recording, monitoring, and reconciliation of project additions, transfers, and closures.
  • Coordinate with site finance and project teams to ensure timely capitalization of due and overdue CAPEX projects.
  • Initiate and execute asset capitalization processes in SAP PS module.
  • Analyze CJIC line items and ensure accurate assignment of asset classes for capitalization.
  • Calculate, review, and post monthly depreciation in compliance with the Companies Act, applicable accounting standards, and company policies.
  • Maintain and reconcile the Fixed Asset Register (FAR) on a regular basis.
  • Perform capital commitment analysis and provide periodic management reports.
  • Review and account for foreign exchange gains/losses related to CAPEX projects.
  • Ensure availability and completeness of supporting documentation for all capitalized projects and maintain audit-ready records at all times.
  • Support internal, statutory, and tax audits by preparing schedules, reconciliations, and supporting documentation, including extraction and verification of invoices, purchase orders (POs), goods receipt records, capitalization documents, asset master data, and other relevant CAPEX-related records.
  • Coordinate with procurement, project, and site finance teams to obtain audit evidence and ensure timely submission of audit requirements.
  • Maintain comprehensive and audit-ready documentation for all capitalized assets and CWIP projects, facilitating smooth closure of audit observations and queries.
  • Address audit observations and queries promptly to ensure timely closure.
  • Prepare and circulate monthly, quarterly, and ad-hoc MIS reports for India and overseas locations.
  • Provide CAPEX forecasts and capitalization projections for advance tax calculations and corporate finance requirements.
  • Actively participate in standardization, process improvement, and automation initiatives related to CAPEX accounting and fixed assets.
  • Drive ERP enhancement initiatives and support SAP S/4HANA implementation and optimization projects.
  • Collaborate with cross-functional teams to ensure seamless execution of SAP S/4HANA-related projects and process transitions.
  • Provide guidance and resolution for CAPEX-related queries raised by site finance and operational teams.

Required Skills & Qualifications

  • Strong knowledge of Fixed Assets Accounting, CWIP Accounting, Capitalization, and Depreciation posting..
  • Hands-on experience in SAP, with strong proficiency in the Project Systems (PS) Module. Knowledge of the Investment Management (IM) module will be an added advantage.
  • Sound understanding of project accounting, capital commitments, and foreign exchange accounting for CAPEX projects.
  • Advanced proficiency in MS Excel and PowerPoint.
  • Experience in SAP S/4HANA implementation, migration, or support projects preferred.
  • Strong analytical and problem-solving skills with attention to detail.
  • Excellent communication and stakeholder management skills.
  • Good interpersonal skills and ability to collaborate across functions and locations.
  • Strong written and verbal English communication skills, as the role involves regular interaction with overseas stakeholders.
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