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What is an asset accountant?
Asset accountants are characterized by highly specialized knowledge of intangible and tangible assets that are used over the long term. Due to their expertise, they are more likely to be found in medium-sized to large companies.
Depending on the corporate fiscal policy, asset accountants evaluate each newly acquired inventory. The valuation is based on balance sheet aspects (balance sheet item, new addition or write-up to existing assets) and on the impact on earnings (period of depreciation). Such decisions have a direct impact on the operating result, balance sheet and cash flow and thus have far-reaching consequences. It is not uncommon for plan scenarios to be calculated and presentations prepared in Excel or other tools. These are then used for internal decision-making or present a concept for further company development to external interested parties such as investors.
In addition, there is a changing economic policy, which often has a direct influence on the options for immediate expense posting or the duration of depreciation. Further training in this area is therefore essential for asset accountants.
Numbers people with experience and instinct
Depending on the size of the company and the number of assets, asset accountants are responsible alone or as part of a team for checking posting records and correcting them if necessary, evaluating new additions that can be used over the long term and updating inventory lists. You are characterized by accuracy, enjoy working with numbers and keep track of commercial and tax law. In addition, they need tact and experience to be able to classify new assets according to the depreciation period or write them up to existing inventories.
Project work in accounting or company-wide for digitization, automation or simply to increase the efficiency of processes require asset accountants to be able to work in a team, but also to work independently. Depending on the company, experience in the area of HGB and IFRS and a good knowledge of English are also required.
The most important things in 5 seconds
- Education: Commercial training with professional experience, further training as an asset accountant or accountant (IHK), university studies with a focus on finance
- Starting salary: €24,000
- Top salary: €60,000
- Opportunities for advancement: Management of the fixed asset accounting team
What does an asset accountant do?
- Creation (checking, account assignment, posting) of asset accounting for one or more companies, taking current case law into account
- Depending on the organizational structure, participation in investment applications
- Participation in monthly, quarterly and annual financial statements
- Carrying out plant inventories
- Project work to increase efficiency – also across departments
- Contact person both internally and externally in the area of capital goods
How do you become an asset accountant?
- Commercial training with professional experience, further training as an asset accountant or accountant (IHK), university degree with a focus on finance
- Several years of experience in financial accounting, especially asset accounting
- IT knowledge of both accounting programs and MS Office applications (especially Excel)
- good English knowledge
What does an Asset Accountant earn?
up to €60,000
As a career starter, asset accountants are paid an average of €24,000 annually. The salary can then increase up to €60,000 through professional experience, further training certificates and depending on the industry and place of residence.
What do you expect from the asset accountant?
Security in HGB, GoBD and possibly also in IFRS as well as constant further training in tax and commercial law are basic requirements for (plant) accountants.
The days of the (asset) accountant working alone are long gone: In order not to lose touch, asset accountants also need good communication and teamwork skills. They enjoy working with figures in general and Excel evaluations in particular, as well as further developing their own work processes and increasing the efficiency of the accounting team.
Opportunities for advancement as an accountant
Asset accountants are experts in their field: They therefore recommend themselves through further training measures for positions such as that of accountant. With the appropriate professional experience, expansion of the work area and/or continuous qualifications, it is possible to take over the management of the asset accounting team as well as the entire accounting as the next career step.
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