Fixed Asset Accountant

As a Fixed Asset Accountant in our Finance team, you will play a key role in the financial reporting of our £1.1bn AMP 8 Capital Programme. Reporting to the Business Management Accountant, you will manage the financial lifecycle of our infrastructure assets. With a portfolio of 12,000 assets and a gross book value of £2.6bn, your day‑to‑day processing, recording and depreciation of asset data will be essential. You will take ownership of the integrity of the fixed‑asset register, ensuring full compliance with IFRS standards for capital expenditure and grants. You will ensure that the entire fixed‑asset cycle—from initial recognition and capitalised interest to unitisation, retention management and eventual derecognition—is accurately reflected in our accounts, providing a robust foundation for the company’s Regulatory Asset Base.

Main Responsibilities

• Maintain the integrity of the fixed asset register, overseeing the end‑to‑end process from asset creation to disposal or decommissioning.
• Assist in the componentisation process, breaking down large project costs into individual assets once a project completes and assigning an appropriate useful economic life to each asset.
• Influence the capital WIP closure process to ensure more timely and accurate recognition of assets.
• Calculate and post monthly depreciation, capitalised interest, impairment charges and adjustments.
• Manage the overall monthly fixed‑asset and WIP accounting processes, including accruals, reviewing results for any significant variances or concerns, and communicating impacts.
• Calculate depreciation and capitalised interest for budgets and forecasts, ensuring that budgets are consistent with the capital programme.
• Provide guidance and support to budget holders and key stakeholders to ensure only eligible costs are capitalised in compliance with SEW accounting policies and IFRS.
• Manage statutory and regulatory year‑end processes, including providing relevant information and reconciliations to support the fixed‑asset disclosure note in the annual report, managing interactions with external auditors, and providing accurate audit evidence and sample documentation.
• Manage the retentions account, ensuring balances held are appropriate and reconciled.
• Work with stakeholders in Assets and Operations to achieve convergence of the financial and operational fixed‑asset registers.

Requirements

• Part‑qualified accountant (CIMA, ACCA, ACA) or qualified by experience, with a desire to progress to full qualification.
• Understanding of IFRS and regulatory accounting standards related to capital expenditure, asset accounting and revenue reporting.
• Financial awareness regarding capital investment, capitalisation policy and grants.
• Advanced level Excel (or Google Sheets) skills.
• Familiarity with accounting software/ERP such as Workday, SAP, Oracle, etc.
• Excellent verbal and written communication skills and the ability to explain complex financial concepts clearly and concisely to non‑finance managers.
• Strong attention to detail and the ability to work accurately and effectively to tight timescales, managing workload to meet deadlines.
• Confidence to constructively challenge senior management on matters of financial policy.
• Several years’ experience in a fixed‑assets role in Finance within an asset‑intensive business, or relevant experience in a management or financial accounting role with an interest in asset accounting.

Benefits

• Excellent stakeholder pension scheme, up to 10% employer contribution.
• 5 weeks holiday plus bank holidays per annum, increasing to 6 weeks with length of service.
• Flexible annual leave policy to buy or sell holiday leave.
• Paid volunteering days.
• Cycle‑to‑work scheme.
• Health cash plan.
• Life assurance.
• Well‑being related benefits.

Compensation

Up to £45,000 p.a. (dependent on experience)

Equal Opportunity Statement

South East Water is an equal‑opportunity employer committed to diversity and inclusion.