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Fixed Asset Accountant - Grangemouth

Petroineos - Finance
Ref: 656 Date Posted: Tuesday 02 Oct 2018
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Fixed Asset Accountant - Grangemouth

Petroineos - Finance

Fixed Asset Accountant, Grangemouth (permanent)


Petroineos Refining and Trading is one of the largest independent refiners trading in Europe. This is an exciting time to join us at our Grangemouth site; we are seeking a Fixed Asset Accountant to join our Finance Team at our Grangemouth site on a permanent basis.

As a Fixed Asset Accountant you will prepare, determine and evaluate the Capital Expenditure incurred by the Grangemouth Refinery and its 4 Fuels Terminals with annual Capital Expenditure of  > $100m. Ensuring the accuracy and integrity of fixed asset reporting in the financial ledger and reporting results to Group Business Controller, Performance Manager through to Site Controller and CFO.  


  • Review and report the monthly Capital Expenditure, annualised value of >$100m, ensuring complete integrity within the financial ledger and accuracy of the monthly results reporting.
  • Review of value of work done for multiple projects, submitting monthly Capital accruals via the journal posting process in SAP. 
  • Appraise, Assess and Review all refining Capital Expenditure and exceptional maintenance projects on a monthly basis, ensuring that projects have the appropriate sanction per the current delegation of authority and that forecast costs are within sanction. 
  • Liaise with the cost assurance team to appraise projects and action over-sanctioned projects.
  • Review capital projects and liaise with the Completions Team to improve quality of completion dates ensuring that projects are managed, closed out consistently and accurately.
  • Work with the business to provide technical support in fixed asset accounting and support the capitalisation process. 
  • Review capital expenditure submission forms ensuring compliance with financial and budget reporting.
  • Control and maintain the respective Fixed Asset Registers for the Grangemouth companies ensuring the integrity of the asset register is correctly monitored and clearly identifiable in terms of component accounting.
  • Ability to challenge and review tangible and intangible assets contained within the Fixed Asset Register. 
  • Confirm the integrity of the ledger by reconciling fixed assets in SAP to the fixed asset register module.
  • Analyse capital movements, to include additions, depreciation, adjustments, transfers and retirements.
  • Work with the cost analyst to review, report monthly fixed and variable costs for specified departments.
  • Revise the year-end forecast on a quarterly basis with budget holders.
  • Assist cost analyst in preparation of the yearly operating plan.

The successful candidate will have:

  • Qualified or Part qualified accountant preferred, however, candidates will be considered if they display strong accounting skills through experience of working in several accounting functions or through other formal training
  • Graduate
  • Exposure to CAPEX and REVEX (capital and revenue reporting)
  • Excellent knowledge of refinery accounting system (SAP).
  • Good Excel Skills.

Should this job be of interest please upload you CV and apply

Internal candidates should not apply through this system, please speak directly to your Line Manager