Accounting Analyst-Capital I

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Department: Accounting
Shift/schedule: Full Time (40 hrs/wk)

GENERAL SUMMARY

The Accounting Analyst – Capital Level I reports directly to the Financial Accounting Manager.  The Accounting Analyst’s primary function is to support the financial operations of the hospital, and its associated entities by performing data analysis, journal entries, reconciliations and financial reporting.  Provides insight into trends, variances, and compliance with generally accepted accounting principles (GAAP) and regulatory requirements specific to healthcare.  The role is responsible for the accounting, reporting, and tracking of the hospital’s capital assets, construction-in-progress (CIP), and lease obligations. Ensures accurate capitalization, depreciation, and compliance with accounting standards, including ASC 842 lease accounting for both finance and operating leases. Plays a key role in the financial close process, audit preparation, capital budgeting support, and coordination across departments managing physical assets and leased property or equipment.

QUALIFICATIONS

Education:

• High School Diploma or successful completion of an equivalent high school exam required

• Bachelor’s degree in Accounting, Finance, or related field required.

Licensure:

• None

Experience:

• Two years of relevant accounting experience preferred.

• Experience in healthcare is preferred.

• Experience with fixed asset accounting, construction/project tracking, and lease accounting (ASC 842) is highly preferred.

• Experience with ERP and lease accounting systems is a plus.

JOB SPECIFIC DUTIES AND PERFORMANCE EXPECTATIONS

The following is a summary of the major job duties of this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time. 

Capital Asset Accounting

1. Maintain the fixed asset schedule and reconcile it to the general ledger monthly.

2. Record and monitor asset acquisitions, transfers, retirements, and impairments.

3. Calculate and post monthly depreciation/amortization entries.

4. Ensure timely capitalization of assets in accordance with hospital policy and capitalization thresholds.

5. Maintain all supporting documentation for completed projects including allocated labor and interest.

6. Perform and document periodic physical inventories of fixed assets.

7. Submit invoices to outside entities for lease of SOMC space and equipment ensuring transactions are recorded and receivable balances and payments are monitored.

8. Allocate monthly facility expenses to the corresponding departmental cost centers.

9. Transfer appropriate SOMC expenses to the Title Holding Company.

10. Oversee real estate tax transactions, accrue, and monitor for timely payments.

11. Facilitate the preparation and submission of property tax exemption applications to ensure that, as a charitable organization, SOMC receives all applicable real estate tax exemptions.

Construction in Progress (CIP)

1. Track and monitor CIP projects from initiation through completion.

2. Work with Facilities, IT, and department leaders to verify project milestones and costs.

3. Track and record associated internal labor costs to CIP.

4. Reclassify completed projects from CIP to fixed assets promptly and accurately.

5. Reconcile CIP balances monthly and maintain detailed project records.

Lease Accounting (ASC 842)

1. Maintain accurate accounting records for all finance and operating leases, including real estate, medical equipment, and IT leases.

2. Track lease terms, renewals, payment schedules, and lease modifications.

3. Assist in performing lease classification tests and determine proper accounting treatment under ASC 842.

4. Create and maintain amortization schedules for lease liabilities and right-of-use (ROU) assets.

5. Record monthly journal entries for lease-related expenses, ROU asset amortization, and interest expense.

6. Coordinate with legal and procurement teams to identify new or modified lease agreements.

7. Assist in maintaining lease accounting software or lease tracking systems.

Financial Reporting & Compliance

1. Prepare and support audit schedules as required.

2. Assist in the preparation of financial statements, footnotes, and disclosures as required.

3. Support annual Medicare and Medicaid cost reporting data as needed.

4. Ensure compliance with GAAP, internal control poli