Fixed Assets Accountant
Hollywood Bets is hiring a Fixed Assets Accountant to be based in Umhlanga. The successful candidate will be accountable for guiding the acquisition of fixed assets, recording the cost of newly acquired fixed assets (both tangible and intangible), tracking existing fixed assets (including transfers between branches), calculating and processing monthly depreciation, accounting for the disposition of fixed assets and maintenance of tax asset registers.
The role involves monitoring systems of controls, procedures, and forms for the complete and accurate recording of fixed assets, ensuring accurate and complete recording of asset movements between branches and regions, and tracking assets in transit or undergoing repairs.
The successful candidate will ensure that all responsible parties are aware of their roles and responsibilities regarding the assets of Hollywood Sportsbook Group, International Group, and the Winning Form Group. They will also ensure that the accounting treatment of assets acquired and disposed of is in accordance with accounting standards and that fixed assets are not written off, scrapped, or disposed of without proper authorisation.
Preventative measures will be ensured to eliminate theft, loss, and misuse. The role includes reviewing fixed asset acquisitions and dispositions accurately and completely in the accounting system, and reviewing and updating the detailed schedule of fixed assets or asset management software on a monthly basis, ensuring it is up to date at all times.
Monthly depreciation calculations will be performed and processed in the accounting system, and reconciliations between the fixed asset register or asset management software and Pastel will be completed monthly. The role also involves investigating the potential obsolescence of fixed assets and conducting periodic impairment reviews for intangible and tangible assets.
Recommendations will be made to management regarding the disposal or scrapping of fixed assets. Audit schedules relating to fixed assets will be prepared, and auditors will be assisted with their enquiries. The company will be represented during any third-party audits involving fixed assets.
Company expenditures for fixed assets will be tracked in comparison to the capital budget and management authorisations. Assistance will be provided to management in the drafting of capital expenditure budgets, capital forecasts, and year-to-date spend. Internal and external parties will be dealt with effectively as required.
Engagement with the accounting team and other departments will ensure proper and efficient accounting methods and an understanding of business needs. Assistance will be provided in the development and documentation of fixed assets processes and procedures, and their implementation and monitoring.
The maintenance of a branch-level fixed asset register for assets not meeting the asset recognition criteria in terms of the asset policy and procedure will be controlled.
- Monitor system of controls, procedures, and forms for the complete and accurate recording of fixed assets.
- Ensure the accurate and complete recording of asset movements between branches and regions.
- Track assets in transit and assets undergoing out of site repairs and maintenance.
- Ensure that all responsible parties are aware of their roles and responsibilities regarding the assets of Hollywood Sportsbook Group, International Group and the Winning Form Group.
- Ensure the accounting treatment of assets acquired and disposed are in accordance with the accounting standard.
- Ensure that fixed assets are not written off, scrapped or disposed of without proper authorization.
- Ensure that preventative measures are in place to eliminate theft, loss and misuse.
- Review fixed asset acquisitions and dispositions accurately and completely in the accounting system.
- Review and update the detailed schedule of fixed assets/asset management software on a monthly basis.
- Ensure that the detailed schedule of fixed assets/asset management software is up to date at all times.
- Perform the monthly depreciation calculation and process depreciation in the accounting system.
- Complete reconciliation between the fixed asset register/asset management software and Pastel on a monthly basis.
- Investigate the potential obsolescence of fixed assets.
- Conduct periodic impairment reviews for intangible and tangible assets.
- Recommend to management whether fixed assets should be disposed of or scrapped.
- Prepare audit schedules relating to fixed assets and assist the auditors on their enquiries.
- Represent the company during any audits by a third party that involve fixed assets.
- Track company expenditures for fixed assets in comparison to the capital budget and management authorizations.
- Assist management in the drafting of capital expenditure budget, capital forecasts and year to date spend.
- Effectively deal with internal and external parties (auditors, etc) where required.
- Engage with the accounting team and other departments to ensure proper and efficient accounting methods as well as understanding the business needs of other departments.
- Assist in the development and documentation of fixed assets processes and procedures and implementation and monitoring thereof.
- Control the maintenance of a branch level fixed asset register for assets not meeting the asset recognition criteria in terms of the asset policy and procedure.
- Pastel Evolution or Similar Accounting Software (required)
- Drivers licence and own transport (required)
- Microsoft Office (required)
- Innovate and create as part of a like-minded, authentic Team eager to achieve goals.
- Embrace challenges and the thrill of working in a vibrant and fast-paced industry.
- Grow with our development plans and culture that allows you to further your career.
Hollywoodbets is a South African sports betting and online gaming company, founded in Durban in 2000 where it opened its first betting branch. It has grown into one of South Africa's largest bookmakers, offering sports betting, online casino and numbers games across a large retail branch network and digital channels. Headquartered in Durban, the company has expanded internationally into the United Kingdom, Ireland and Mozambique. Hollywoodbets is also well known as the title sponsor of the Hollywoodbets Durban July horse race.