Just as there are different areas of business, there are different areas of accounting. Fixed Asset Accountants are responsible for tracking the value and changes in a company's assets. The assets they are concerned with may be tangible or intangible. Some of the duties that Fixed Asset Accountants conduct are the calculation and recording of the depreciation of fixed assets and the investigation of assets' potential obsolescence. They help companies compare their asset expenditures with their capital budgets.
Fixed Asset Accountant Education Requirements
Fixed Asset Accountants usually must have a bachelor's degree in accounting or business administration with a concentration in accounting. Some employers tend to prefer accountants who have master's degrees in business administration or accounting. Accountants may also obtain certification as Certified Public Accountants or Certified Management Accountants. Additionally, some Fixed Asset Accountants start off by obtaining internships at corporations as Junior Accountants and then work their way up through the company. There are also positions for people with Strong Fixed Asset Experience.
Fixed Asset Accountant Job Market
The job market for accountants in general is expected to expand by 13 percent in the next 10 years. Competition is fierce to secure high-paying positions, but with all the new laws and regulations that have been passed due to corporate financial crises and scandals, the amount of Fixed Asset Accountants and other professionals needed by corporations may increase. Accountants can help ensure that corporations comply with stricter standards to report assets accurately and manage them effectively.
Fixed Asset Accountant Salary
The median annual salary for accountants in 2012 was $63,500. The accountants who earned the most worked for securities and commodity exchanges companies, but the industry that employed the most accountants involved accounting, tax preparation, bookkeeping and payroll services. The highest-earning accountants made more than $111,000 in 2012.