Financial Accountant

Positional Overview:

A Financial Accountant is responsible for managing and reporting an organization’s financial data. This role involves preparing financial statements, ensuring compliance with accounting standards and regulations, analyzing financial performance, and supporting budgeting and forecasting processes. Financial Accountants play a crucial role in maintaining accuracy, transparency, and integrity in financial reporting, contributing to strategic decision-making and overall financial health.

Responsibilities:

• Responsible for passing month-end journal entries and ensuring appropriate accounting of revenues, expenses, assets, and liabilities for entities in the GCC region.
• Prepare separate and consolidated financial statements of entities within the given timeline as per IFRS for review by the line manager.
• Responsible for the preparation of inter-company reconciliations every month, accounting of inter-company transactions, and keeping the lines in the reconciliation to a minimum.
• Responsible for collecting inter-company confirmations for the audit and the ledger from the group companies after the books have been closed for the month.
• Scrutinize the ledger accounts monthly prior to the closing of accounts for the month. Errors noticed during the scrutiny are rectified by passing the rectification entry.
• Apart from the drafting of month end journals vouchers, allocation of costs, utility charges, inter-departmental transfer of manpower and services are recorded through the journal entry.
• Monthly updation of the schedules so as to match with the balance shown by the trial balance. Maintenance of support for prepaid rent and insurance. Also, updating the other schedules required by the auditors as part of the audit.

Skills:

• Strong knowledge of IFRS, GAAP, and regional accounting regulations.
• Expertise in ERP systems like Tally, SAP, or Oracle, along with MS Excel for data analysis and reporting.
• Ability to scrutinize ledgers, monitor financial health, and ensure accurate financial statements.
• Ability to meet strict monthly closing deadlines while managing multiple entities.
• Efficient in handling cross-functional communication and resolving inter-company discrepancies.
• Quick to identify financial irregularities, propose solutions, and maintain reconciliation integrity.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or Commerce.
• CPA, CMA, ACCA, or other recognized professional accounting certifications.
• 3-5 years of proven experience in financial accounting, preferably within the GCC region.

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Tagged as: auditing, GAAP