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 expertiseProficiency in advanced Account reconciliation expertMicrosoft excel Superior research skillsAnalytical reasoning advanced computer proficiencySolid Experience on Integrated Tertiary SoftwareFinancial statement analysisStrength in financial reporting
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