Exide Energy Solutions Limited is a wholly owned Subsidiary of Exide Industries Limited, leading battery manufacturing and distribution company in India with annual revenues of $1.8+ Bn. Exide Energy Solutions Limited is investing $500+ Mn dollars to setup Indias first Giga plant to manufacture Lithium-Ion Cells at Devanahalli Industrial Area in Bengaluru. Exide Energy designs, develops, and manufactures Lithium Ion Cells and Battery Pack solutions for various energy storage. Exide Energy is a leading player in the market with OEM customers across key market applications – 2W, 3W, 4W, CV and industrial applications. Exide is also deeply invested in further developing li-ion technology with significant R&D investments including setup of in-house team as well as necessary lab infrastructure to support development activities.
Roles and Responsibility :
1. Identification and Capitalization of Assets :
- Identify assets that need to be capitalized based on organizational guidelines and accounting policies.
- Ensure proper classification and capitalization of assets according to Ind-AS and Income Tax requirements.
2. Asset Register Management in SAP :
Maintain the Fixed Assets Register in SAP, ensuring all asset data is accurate, complete, and up-to-date.Align the asset register with operational teams to ensure the accurate representation of assets.Ensure seamless integration of SAP asset records with business operations for real-time asset tracking and reporting.3. Recording of Fixed Assets (Additions and Deletions) :
Record the addition of new fixed assets and update asset information in SAP, ensuring alignment with Ind-AS guidelines.Process asset disposals and deletions in accordance with financial and tax regulations, ensuring accurate write-offs in the system.4. Depreciation Calculation :
Run depreciation calculations for fixed assets as per Ind-AS and Income Tax guidelines, ensuring accuracy and consistency.Monitor depreciation schedules and ensure timely recording of depreciation in the books.5. Control over CWIP (Capital Work in Progress) :
Manage and monitor the Capital Work in Progress (CWIP) register.Ensure proper transfer of CWIP to main assets once the asset is ready for use or placed in service.Track and report CWIP in accordance with the organizational and financial reporting requirements ensuring compliance with IND AS.6. Asset Records and Physical Verification :
Ensure the accuracy and hygiene of fixed asset records, including proper asset tagging.Oversee the physical verification process, ensuring all assets are correctly tagged and counted.Prepare all necessary documentation for the physical verification process and audits, ensuring compliance with Ind-AS, Income Tax, and government agency requirements.7. Reconciliation of Asset Registers :
Regularly reconcile the SAP Fixed Assets Register with other systems (e.g., MES records) to ensure consistency and accuracy.Investigate and resolve any discrepancies between records promptly.8. Compliance with CARO (Companies Auditor's Report Order) :
Ensure proper application of CARO requirements in relation to fixed assets.Ensure compliance with all aspects of CARO for fixed assets reporting and documentation during audits.9. Variance Analysis and Reporting :
Conduct variance analysis between the actual and expected values related to fixed assets (e.g., discrepancies in asset valuation or depreciation).Record and reconcile any identified variances in the books, ensuring accurate financial reporting.10. Asset Retirement and Sales :
Oversee the retirement and sale of fixed assets, ensuring they are recorded accurately in the asset register.Process the sale of assets, including preparing necessary documentation, updating the asset register, and calculating any gain or loss on sale.Ensure that all legal, tax, and accounting requirements are met during the retirement or sale of assets.Coordinate the proper transfer of asset ownership or disposal, including managing contracts, documentation, and post-sale adjustments.11. Audit and Government Compliance :
Prepare and maintain all fixed asset documentation to facilitate internal and external audits.Ensure all records are in compliance with applicable regulations, including government agencies' audit requirements.Address any audit queries related to fixed assets and facilitate the resolution of audit findings.Mandatory Skills :
Strong expertise in Ind-AS and Income Tax regulations as they relate to fixed asset management.Proficiency in SAP or other asset management software.Experience with CARO (Companies Auditor's Report Order) and understanding of its application for fixed assets.In-depth knowledge of depreciation methods and their impact on financial reporting.Experience in managing asset retirement and sales transactions.Excellent organizational skills and attention to detail, especially for maintaining asset records and physical verification.Ability to collaborate effectively with the operations, finance, and audit teams.Strong analytical skills for variance analysis and reconciliation tasks.Desired Skills :
Strong expertise in Ind-AS and Income Tax regulations as they relate to fixed asset management.Proficiency in SAP or other asset management software.Experience with CARO (Companies Auditor's Report Order) and understanding of its application for fixed assets.In-depth knowledge of depreciation methods and their impact on financial reporting.Experience in managing asset retirement and sales transactions.Excellent organizational skills and attention to detail, especially for maintaining asset records and physical verification.Ability to collaborate effectively with the operations, finance, and audit teams.Strong analytical skills for variance analysis and reconciliation tasks.Why Join Us
At Exide Energy Solutions, youll work in a dynamic, innovative environment with a commitment to sustainability and operational excellence. This role offers opportunities for professional growth while directly contributing to our mission of providing reliable, high-quality energy storage solutions.
Role : Financial Accountant
Industry Type : Electronics Manufacturing (Electronic Manufacturing Services (EMS))
Department : Finance & Accounting
Employment Type : Full Time, Permanent
Role Category : Accounting & Taxation
Skills Required
Fixed Asset Management, Capitalization, Project Accounting, Fixed Assets
