A fixed asset accountant manages a company’s property, plant, and equipment. Their work includes tracking asset purchases, disposals, transfers, and depreciation, ensuring the fixed asset register is accurate and up to date.
What is a tax accountant?
Fixed assets generally refer to property, machinery and other equipment that an organisation owns. A fixed assets analyst records and reports on these fixed assets, as well as other ‘non-current assets’ such as long-term investments. You’ll be working closely with the accounts payable team and other departments across an organisation to manage accurate additions, disposals and depreciation.
Progressing to fixed assets manager means being involved in all relevant aspects of the business, such as new acquisitions, corporate restructurings, divestitures, and applying standardised processes across the business.
How do I achieve it?
Most people enter at the analyst level, with opportunities to progress upwards to supervisory and management positions. Your progression can also include job rotation into other related areas such as accounts payable.
The knowledge and skills required for this career are available through the ACCA Foundations level qualifications. Those interested in management will also benefit from progressing onto the ACCA Qualification.
Frequently asked questions
While general accounting covers all financial transactions, fixed asset accounting focuses specifically on long-term tangible assets. It requires detailed knowledge of asset lifecycles, depreciation methods, and compliance with accounting standards like IFRS or GAAP.
Most employers expect a degree in accounting, finance, or a related field. Progress towards a professional qualification, such as ACCA is highly valued. Strong Excel skills and familiarity with enterprise resource planning (ERP) systems are also important.
Salaries vary by region and experience, but fixed asset accountants often earn in line with financial accountants. In the UK, early-career roles may start around £28,000–£35,000, with experienced professionals earning £40,000–£55,000 or more.
Key challenges include keeping track of large asset portfolios, ensuring correct depreciation, handling asset impairments, reconciling differences between tax and financial reporting, and staying compliant with evolving standards.
Accurate fixed asset accounting ensures that the balance sheet reflects true asset values and that depreciation expenses are correctly allocated on the income statement. This helps stakeholders assess company performance and financial health.
Students and early-career professionals can gain experience through internships, graduate accounting programs, or entry-level finance roles. Exposure to asset registers, ERP systems, and month-end closing tasks is especially useful.
Fixed asset accountants often use ERP systems such as SAP, Oracle, or Microsoft Dynamics, alongside specialist asset management software. Advanced Excel remains an essential tool for reconciliations and analysis.
Following professional bodies (such as ACCA), attending CPD courses, and reading updates from standard-setters such as IASB or FASB will help you stay current. Networking with other professionals also provides insights into best practice.
Explore further
Advertisement