LUNGISWA MARCIA SALMON
Polokwane
Summary
Dynamic and highly energetic Assistant Director-Asset Management with extensive knowledge of
accounting principles & reporting, team-oriented manager who prepares clear, comprehensive
Financial reports for executive-level management.
Overview
20
20
years of professional experience
Work History
Assistant Director
UNIVERSITY OF LIMPOPO
01.2014 - Current
- Developed and maintained an IFRS compliant Fixed Assets Register, compliance with IAS 8 & IAS 16 through annualized physical asset verification, which has led to a clean audit
- Developed Asset Management policies and procedures for the unit to promote good governance within the institution
- Drafted and implemented process flows for the Asset management unit to streamline processes and to enhance internal controls
- Developed strategic plans and Annual Performance plans for Asset Management unit and the broader finance department
- Introduced a condition assessment & maintenance plan for immovable and infrastructure assets
- Introduced replacement strategy for UL movable assets
- University of Fort Hare:
- Developed and maintained an IFRS compliant Fixed Assets Register, compliance with IAS 8 & IAS 16 through annualized physical asset verification, which has led to a clean audit and a reduced number of audit findings
- Developed and implemented policies and procedures for the Asset management and Accounts payable units to promote good governance within the institution
- Assisted in the drawing up of the institutional financial statements
- Trained and developed staff members both on ERP and the fundamental principles of accounting to ensure that there is a succession plan for the university, Drafting and Implementation of Asset Management’s strategic plan, and annual performance plan aligned to the institutional or organizational strategic plan
- Development and Implementation of Asset Management Replacement strategies and monitoring of reserve funds for replacements
- Overseeing the development and implementation of maintenance plan, which is embedded on condition assessment of facilities, to address deferred preventative and routine maintenance
- Drafting of all applicable policies and business processes for Asset Management
- Development and monitoring of organizational risks register/risk exposures and mitigation plans
- Supervise and manage University assets in all life cycle stages
- Overseeing the accurate maintenance of Fixed Assets Register for both immovable and movable assets
- Ensure that the Fixed Assets Register for both movable and immovable assets is compliant with all applicable IFRS standards
- Monitor and facilitate the conducting of physical asset verification to confirm existence of movable assets and completeness of the Fixed Assets register
- Supervise the annual condition assessment so as to ascertain:
- The extent of deterioration of immovable asset components,
- The effect of deterioration in the remaining useful life of these components
- Ensure that the condition rating is aligned to the visual inspection of the components on the Fixed Assets Register
- Asset components that need to be impaired or derecognized based on the extent of damage and level of functionality or lack thereof
- Perform monthly reconciliation of the Fixed Assets register with the
- General ledger
- Supervise the disposal process as well as prepare recommendation for the disposal of redundant assets
- Ensure that the disposal process is in accordance with Act 101 paragraph 41 of 1997, Higher Education Act
- Attend to audit queries (internal and external)
- Management of human resources-13 Asset management personnel
- Handled the insurance portfolio for the university
- Drawing of Financial Statements and other management reports
Accountant
UNIVERSITY OF FORT HARE
01.2002 - 01.2013
- Managed all university property i.e
- Movable and immovable property
- Developed Fixed Asset Register for the entire university which is IFRS complaint
- Ensure that the disposal process is in accordance with Act 101 paragraph41 of 1997, Higher Education Act
- Developed policies and procedures for both Asset Management and
- Creditors unit
- Handle infrastructure accounts worth millions, ensuring that transactions are accounted for correctly in accordance with IAS 20
- Handle the short term insurance of the university
- Deal with internal and external auditors of the University mo
- Overseeing the creditors function for the East-London campus, including
- Transferring of skills to junior staff
- Ensuring that payments are done on authentic documentation, accurately and on time
- Calculation of provision for student debt for the Financial Statements
- Provided technical support to the Finance division in the East-London
- Campus
- Do Balance sheet reconciliations as part of month end procedure
- Assist in the drawing of Financial Statements and other management reports
- Prepare PPE disclosures for financials as well as Commitment's/Liability
- Disclosure IAS 16 & 17
Education
National Diploma - Cost & Management Accounting
Border Technikon-Walter Sisulu University
MBA: Master of Business Administration - undefined
Regent Business School
Skills
Power point presentations Budget forecasting expertiseundefined
Timeline
Assistant Director
UNIVERSITY OF LIMPOPO
01.2014 - Current
Accountant
UNIVERSITY OF FORT HARE
01.2002 - 01.2013
National Diploma - Cost & Management Accounting
Border Technikon-Walter Sisulu University
MBA: Master of Business Administration - undefined
Regent Business School
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