At a Glance
- Tasks: Manage the financial lifecycle of £2.6bn infrastructure assets and ensure compliance with IFRS standards.
- Company: Join South East Water, a leader in providing essential services to diverse communities.
- Benefits: Enjoy 5 weeks holiday, flexible leave, health cash plan, and a generous pension scheme.
- Other info: Diverse and inclusive workplace with excellent career progression opportunities.
- Why this job: Make a real impact on financial reporting while growing your career in a supportive environment.
- Qualifications: Part-qualified accountant or experienced in finance with a passion for asset accounting.
The predicted salary is between 45000 - 45000 £ per year.
As a Fixed Asset Accountant within 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, assets, 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/decommissioning.
- Assist in the “componentisation” process, breaking down large project costs into individual assets once a project completes and ensuring an appropriate useful economic life is attributed 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 processes for fixed assets and WIP accounting, including accruals, reviewing the results for any significant variances or concerns, and communicating the impact.
- 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 that only eligible costs are capitalised in compliance with SEW accounting policies and IFRS.
- Manage the statutory and regulatory year end processes including providing relevant information and reconciliations to support the fixed asset disclosure note in the annual report, managing the interaction with external auditors for all fixed asset related queries and providing accurate and timely audit evidence and sample documentation.
- Manage the retentions account, ensuring that balances held are appropriate and reconciled.
- Work with stakeholders in Assets and Operations to achieve convergence of the Financial and Operational fixed asset registers.
- Part-Qualified Accountant (CIMA, ACCA, ACA) or Qualified by Experience, ideally wishing to progress to full qualification.
- Understanding of IFRSs and regulatory accounting standards related to capital expenditure, asset accounting and revenue reporting.
- Financial awareness, especially 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.
- Good verbal and written communication skills and the ability to communicate complex financial concepts clearly and concisely to non-finance managers.
- Work accurately and effectively to tight timescales, and the ability to manage workload to ensure all deadlines are achieved.
- Confidence to constructively challenge senior management on matters of financial policy.
- Several years working in a fixed assets role in Finance in an asset-intense business or experience in a management or financial accounting role with an interest in asset accounting.
We know the communities we serve are diverse. We recognise creativity comes from diversity not similarity. That’s why we are enthusiastic about creating inclusion across age, race, gender, ethnicity, religion and identity. You will experience our dedication to equal opportunities and fair treatment for all: through your recruitment, employment and career progression with South East Water.
Benefits package:- 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.
- Wellbeing related benefits.
To apply for this position, please submit your CV on our career’s website. It is necessary for you to have the legal right to work in the UK when you begin employment with South East Water. Additionally, as part of the employment offer, you will need to pass background, identity, and employment referencing checks. If this sounds like the opportunity you’ve been looking for, apply now!
South East Water kindly asks that recruitment agencies refrain from submitting CVs to our employees or associates without explicit invitation from our HR Resourcing team. CVs sent on a speculative basis will not be acknowledged and will not assume any responsibility for fees or commissions in the event that we hire a candidate who applied directly or subsequently introduced by an instructed agency.
Compensation package:up to £45,000 p.a. (dependent on experience)
Fixed Asset Accountant employer: South East Water
At South East Water, we pride ourselves on being an excellent employer, offering a supportive work culture that values diversity and inclusion. As a Fixed Asset Accountant, you will benefit from a comprehensive benefits package, including a generous pension scheme, flexible holiday options, and opportunities for professional growth within a meaningful and purpose-driven organisation. Join us in making a positive impact in the communities we serve while advancing your career in a dynamic and asset-intensive environment.
StudySmarter Expert Advice🤫
We think this is how you could land Fixed Asset Accountant
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
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Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
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We think you need these skills to ace Fixed Asset Accountant
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to South East Water.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on South East Water's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at South East Water
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with South East Water.
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Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
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✨Network with Industry Professionals
Before your interview, reach out to current or former South East Water employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
