Accounting Manager - Fixed Assets and Leases

Lambda•San Jose, CA

1d•Hybrid

About The Position

Lambda, The Superintelligence Cloud, is a leader in AI cloud infrastructure serving tens of thousands of customers. Our customers range from AI researchers to enterprises and hyperscalers. Lambda's mission is to make compute as ubiquitous as electricity and give everyone the power of superintelligence. One person, one GPU. If you'd like to build the world's best AI cloud, join us. Note: This position requires flexible presence in both our San Francisco and San Jose offices, a total of 4 days per week; Lambda’s designated work from home day is currently Tuesday. We are seeking an experienced Fixed Asset & Lease Accounting Manager to lead the accounting, controls, and reporting for our capital asset and lease portfolios in a highly capital-intensive infrastructure environment. The company maintains over $1.5B in fixed assets placed into service, more than $200M in Construction in Progress (CIP), and $500M+ in operating Right-of-Use (ROU) assets related to data center leases across 15+ locations in the U.S. and internationally. The majority of our fixed assets consist of GPU compute infrastructure, along with associated racks, cabling, and supporting data center equipment. This role will own the full lifecycle of fixed assets and leases—from capitalization policy and CIP monitoring to depreciation, lease accounting under ASC 842, asset disposals, and audit support. The ideal candidate brings strong technical accounting expertise, operational rigor, and the ability to partner cross-functionally with infrastructure, procurement, and legal teams in a rapidly scaling environment.

Requirements

Bachelor’s degree in Accounting or Finance.
7+ years of accounting experience with significant exposure to fixed asset and lease accounting.
Experience managing large-scale fixed asset and lease portfolios ($2B+ preferred).
Strong understanding of U.S. GAAP fixed asset accounting and ASC 842 lease accounting.
Experience managing Construction in Progress (CIP) and capital project accounting.
Proficiency with ERP systems and fixed asset management modules.
Strong analytical, organizational, and process improvement skills.

Nice To Haves

CPA with public accounting experience.
Experience in data center, cloud infrastructure, technology hardware, telecom, or other capital-intensive industries.
Experience accounting for technology infrastructure assets such as servers, GPUs, or networking equipment.
Experience with global operations and multi-location lease portfolios.
Experience implementing or optimizing fixed asset or lease accounting systems.
Forward-thinker in embracing and implementing AI tools as part of foundational accounting processes.

Responsibilities

Manage accounting and reporting for $1.5B+ in fixed assets including GPU infrastructure, racks, cabling, and related equipment.
Oversee asset capitalization, classification, and useful life determinations in accordance with U.S. GAAP.
Review and approve asset additions, transfers, disposals, and retirements.
Ensure accurate depreciation calculations and reconciliation of the fixed asset subledger to the general ledger.
Maintain and continuously improve capitalization policies and internal controls.
Oversee accounting for $200M+ in CIP related to GPU infrastructure deployments and data center buildouts.
Track asset commissioning and ensure timely capitalization once assets are placed into service.
Partner with engineering, infrastructure, and procurement teams to validate deployment milestones and cost allocations.
Monitor CIP aging and ensure appropriate classification and capitalization timing.
Manage accounting and reporting for $500M+ in Right-of-Use (ROU) assets related to data center leases across 15+ locations.
Ensure compliance with ASC 842 including lease classification, ROU asset and liability calculations, and ongoing lease reassessments.
Abstract lease agreements and identify embedded leases where applicable.
Coordinate with technical accounting for lease modifications, renewals, and terminations.
Maintain lease accounting schedules and support financial reporting disclosures.
Prepare fixed asset and lease accounting schedules for monthly, quarterly, and annual close.
Support internal and external audit processes by providing documentation, reconciliations, and analysis.
Assist with financial statement disclosures related to fixed assets, depreciation, and leases.
Partner with tax and finance teams on asset-related reporting requirements.
Collaborate with infrastructure, operations, and procurement teams to ensure accurate tracking of high-value GPU assets.
Support processes for asset tagging, inventory tracking, and periodic physical verification of assets.
Oversee asset retirement and decommissioning processes for technology equipment.
Evaluate and enhance fixed asset and lease accounting systems and workflows to support rapid growth.
Drive automation and integration between ERP (NetSuite), procurement systems, and asset tracking tools.
Develop scalable processes to manage high volumes of infrastructure assets