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City of Mission Job DescriptionJob Title: Fixed Assets SpecialistClassification: NonExemptDepartment: Finance Supervisor: Finance DirectorI.Effective: 03/01/2022JOB SUMMARY: Individual main duties
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The term 'fixed assets' refers to long-term tangible assets used in a company's operations, such as machinery, buildings, and land. The job title related to fixed assets may include roles such as fixed asset manager, accountant, or financial analyst who oversee the acquisition, management, and reporting of these assets.
Typically, organizations that own fixed assets are required to file relevant reports or documentation pertaining to these assets. This includes businesses, nonprofit organizations, and government entities that must manage and report their fixed assets for accounting and tax purposes.
Filling out a fixed assets report generally involves listing each asset, its acquisition date, cost, depreciation, and current value. Organizations typically use accounting software to manage these entries and ensure compliance with financial reporting standards.
The purpose of managing fixed assets is to track their value, assess depreciation, ensure proper accounting, and inform decision-making regarding asset replacement, investment, and financial planning.
Essential information includes asset description, acquisition date, purchase price, accumulated depreciation, current market value, and any impairment losses.
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