Week 4: Fixed Assets

I had the chance to work alongside the awe-inspiring Fixed Assets Team in the accounting department. This talented group tackles the intricacies of the acquisition payment tracker, a crucial mechanism for managing payments related to new acquisitions and home sales.

Their task was to meticulously manage the acquisition payment tracker, which is like a roadmap for every penny involved in acquiring new homes. This tracker ensures that payments for acquisitions and home wires are accurately recorded and tracked, leaving no room for financial mishaps.

The Fixed Assets Team works with the treasury department whom I will work with next week. Together, they orchestrate the movement of funds with precision and expertise. Witnessing their collaboration unveiled a world where financial transactions and strategies align, ensuring the company’s financial gears turn seamlessly.

The Acquisition and Disposition HUD Reports:

With every new home acquisition and every sold property, an “acquisition HUD report” and “disposition HUD tracker” come into play. These reports guide the team through the financial intricacies associated with acquiring and selling homes. I had the privilege of peering into these reports and comprehending how they guide the accounting process, contributing to the overall financial health of the company.

One of the most captivating aspects of my internship was delving into the universe of Built to Rent (BTR) reconciliation. BTR is all about payments related to the cost of turning properties into rental homes. The Fixed Assets Team ensures these payments are properly sent and received, fostering a healthy financial ecosystem. My experience included witnessing their intricate reconciliation process, ensuring that each financial transaction was accounted for.

I would also attend meetings. These meetings weren’t just about numbers; they were about strategizing, analyzing, and fine-tuning the financial mechanisms that keep the company’s engine running. Participating in these sessions provided a golden opportunity to interact with managers and senior professionals, absorbing wisdom and insights that go far beyond textbooks.

My time with the Fixed Assets Team transcended numbers and spreadsheets. It was an immersive learning experience, where I absorbed the importance of teamwork, collaboration, and accuracy in financial operations. Networking with managers and senior professionals provided me with a glimpse of the multifaceted world of corporate finance, revealing the human side behind the financial machinery.