Manager/senior Manager - Finance & Accounts - IFRS
- Recruiter
- Spring HR Careers
- Location
- Gujarat, India
- Posted
- 12 Jun 2018
- Closes
- 27 Jun 2018
- Job role
- Accountant
- Sector
- Accounting - Public practice
- Experience level
- Manager
1. JOB PURPOSE
- The Preparation of monthly/ quarterly/annual accounts of EOL and its subsidiaries under IND AS and IFRS requires a specialized skill (Chartered Accountant only with an experience of 8 - 10 years). This position requires in depth knowledge and understanding/interpretation of various Accounting Standards both under IND AS and IFRS, knowledge of Companies Act 2013, Income Tax Law, Indirect Tax laws and various other statues applicable and governing the Company.
- Preparation of Financial Statement i.e. Balance Sheet, Income Statement, Statement of Changes in Equity, Cash Flow and various notes forming part of the Financial Statements requires in-depth understanding and knowledge of the various Business transaction and business process for correct classification and disclosure thereof
- Preparation of Annual accounts both under IND AS and IFRS requires strong interpretation, judgment, decision making at each and every stage of transaction and consolidation as the correct accounting treatment and disclosure is must for forming an opinion on the true and fair view of the operation and the state of affairs of the company by statutory auditors
- Preparation of Financial statement demands a strong interpersonal capability, communication skill, closure skill and requires interaction on day to day basis with various stake holders like Statutory Auditors, cross functional departments, Senior Management team and legal and accounting professionals
- Preparation of financial statement demands continuous learning and updation of the knowledge in the field of Accounting and also requires updation of the knowledge about the changes in the business process/environment both internal and external
- Considering the Turnover, Asset and liability bases of the Company the activity of the preparation of financial statement demands experienced and knowledgeable professionally qualified dedicated team and team approach as this activity is and cannot be performed individually in totality. The preparation process involves various stages like scrutiny of GL, Trial Balances review, proper classification, and grouping in the Financial Statements, various analysis, consolidation and business combination activity, drafting and review at various levels
- The Job position is very critical and occupies a significant position in the team responsible for preparation of Standalone and Consolidated monthly/quarterly/ annual Financial Statements of Essar Oil Limited under IND AS, will also play a major role in preparation of IFRS Financials to cater to the requirements of the changed management and to meet the additional disclosure and reporting requirements of the changed management
2. ACCOUNTABILITIES & RESPONSIBILITIES
ACCOUNTABILITIES ACTIVITIES
1. Preparation and review of IND AS Monthly, Quarterly, and Annual Financial Statements
- Preparation of monthly financial Statements under IND AS to be submitted to the Management for Review
- Preparation/review of Quarterly / Half yearly / Annual Financial Statements in adherence of Schedule III of the Companies Act 2013 within the timelines prescribed by the Management
- To properly check all the necessary points for Consolidation exercise like tallying of interdivisional balances, elimination of common transactions
- Ensuring proper flow of information in the Financial Statements like Current / Non-Current Classification, stock reconciliation with respect to Financial Statements etc.
- Preparation and review of necessary details for proper disclosure in the Notes to Accounts forming part of the Annual results like Derivative Instruments & Forex Exposure, Borrowings related notes, Lease Disclosure etc.
- Ensuring the timely completion of Statutory Audit by coordinating with the Statutory Auditors
- Preparation of necessary backup details required for timely completion of Quarterly / Annual Closing like Balance Sheet Variance
- Preparation of necessary details to be provided on monthly basis to the management for their review during BMC like Statement of Assets and Liabilities, review of data provided by various divisions like Trade Receivable Analysis, Borrowings Details, Inventory Details, Current & Non-Current Assets Details etc.
- Preparation of Balance Sheet Variance Analysis on the Quarterly basis to be provided to the management for their review
- Preparation of necessary workings for aiding any change in accounting treatment for better disclosures in Financial Statements
2. Preparation and review of IFRS Monthly, interim and Annual Accounts under IFRS
- Preparation of necessary adjustment details required for preparation of IFRS Financial Statements (MIS) on the monthly basis
- Preparation of Monthly IFRS Financial Statements to be submitted to the management as per the prescribed timelines
- Preparation of Quarterly / Interim Financials along with disclosure details within the prescribed timelines as decided by the management
- Preparation of Annual Financial Statements along with detailed disclosures to be submitted within the timelines as prescribed by the management
- Ensuring timely completion of an audit of the Annual Financial Statements by the auditors
- Preparation of necessary backup details as desired by management on Quarterly / Half Yearly / Annual basis like the Variances Analysis and other relevant details as and when required
3 Others
- Performing special projects over and above the job role as and when the management requires to do so
- Updating the Accounting Manual for Essar Oil Limited on the need basis
- Providing necessary information to various departments like Finance Department, Secretarial Department, Indirect Tax Department, Insurance Department, Direct Tax Department
- Co-ordination with various other departments like Indirect Tax Department, Direct Tax Department, Secretarial Department, Finance Department for proper and smooth preparation of Financial Statements.
- To analyze the area of automation wherever possible so as to facilitate smooth functioning without much manual intervention
- To assist/aid colleagues/peers in different areas so as to facilitate proper flow of information and necessary development of the individuals and in turn develop the entire team
- Mentoring the subordinates in accomplishing the organizational goals and development of their professional skills so as to achieve the overall organizational goal.
- The Preparation of monthly/ quarterly/annual accounts of EOL and its subsidiaries under IND AS and IFRS requires a specialized skill (Chartered Accountant only with an experience of 8 - 10 years). This position requires in depth knowledge and understanding/interpretation of various Accounting Standards both under IND AS and IFRS, knowledge of Companies Act 2013, Income Tax Law, Indirect Tax laws and various other statues applicable and governing the Company.
- Preparation of Financial Statement i.e. Balance Sheet, Income Statement, Statement of Changes in Equity, Cash Flow and various notes forming part of the Financial Statements requires in-depth understanding and knowledge of the various Business transaction and business process for correct classification and disclosure thereof
- Preparation of Annual accounts both under IND AS and IFRS requires strong interpretation, judgment, decision making at each and every stage of transaction and consolidation as the correct accounting treatment and disclosure is must for forming an opinion on the true and fair view of the operation and the state of affairs of the company by statutory auditors
- Preparation of Financial statement demands a strong interpersonal capability, communication skill, closure skill and requires interaction on day to day basis with various stake holders like Statutory Auditors, cross functional departments, Senior Management team and legal and accounting professionals
- Preparation of financial statement demands continuous learning and updation of the knowledge in the field of Accounting and also requires updation of the knowledge about the changes in the business process/environment both internal and external
- Considering the Turnover, Asset and liability bases of the Company the activity of the preparation of financial statement demands experienced and knowledgeable professionally qualified dedicated team and team approach as this activity is and cannot be performed individually in totality. The preparation process involves various stages like scrutiny of GL, Trial Balances review, proper classification, and grouping in the Financial Statements, various analysis, consolidation and business combination activity, drafting and review at various levels
- The Job position is very critical and occupies a significant position in the team responsible for preparation of Standalone and Consolidated monthly/quarterly/ annual Financial Statements of Essar Oil Limited under IND AS, will also play a major role in preparation of IFRS Financials to cater to the requirements of the changed management and to meet the additional disclosure and reporting requirements of the changed management
2. ACCOUNTABILITIES & RESPONSIBILITIES
ACCOUNTABILITIES ACTIVITIES
1. Preparation and review of IND AS Monthly, Quarterly, and Annual Financial Statements
- Preparation of monthly financial Statements under IND AS to be submitted to the Management for Review
- Preparation/review of Quarterly / Half yearly / Annual Financial Statements in adherence of Schedule III of the Companies Act 2013 within the timelines prescribed by the Management
- To properly check all the necessary points for Consolidation exercise like tallying of interdivisional balances, elimination of common transactions
- Ensuring proper flow of information in the Financial Statements like Current / Non-Current Classification, stock reconciliation with respect to Financial Statements etc.
- Preparation and review of necessary details for proper disclosure in the Notes to Accounts forming part of the Annual results like Derivative Instruments & Forex Exposure, Borrowings related notes, Lease Disclosure etc.
- Ensuring the timely completion of Statutory Audit by coordinating with the Statutory Auditors
- Preparation of necessary backup details required for timely completion of Quarterly / Annual Closing like Balance Sheet Variance
- Preparation of necessary details to be provided on monthly basis to the management for their review during BMC like Statement of Assets and Liabilities, review of data provided by various divisions like Trade Receivable Analysis, Borrowings Details, Inventory Details, Current & Non-Current Assets Details etc.
- Preparation of Balance Sheet Variance Analysis on the Quarterly basis to be provided to the management for their review
- Preparation of necessary workings for aiding any change in accounting treatment for better disclosures in Financial Statements
2. Preparation and review of IFRS Monthly, interim and Annual Accounts under IFRS
- Preparation of necessary adjustment details required for preparation of IFRS Financial Statements (MIS) on the monthly basis
- Preparation of Monthly IFRS Financial Statements to be submitted to the management as per the prescribed timelines
- Preparation of Quarterly / Interim Financials along with disclosure details within the prescribed timelines as decided by the management
- Preparation of Annual Financial Statements along with detailed disclosures to be submitted within the timelines as prescribed by the management
- Ensuring timely completion of an audit of the Annual Financial Statements by the auditors
- Preparation of necessary backup details as desired by management on Quarterly / Half Yearly / Annual basis like the Variances Analysis and other relevant details as and when required
3 Others
- Performing special projects over and above the job role as and when the management requires to do so
- Updating the Accounting Manual for Essar Oil Limited on the need basis
- Providing necessary information to various departments like Finance Department, Secretarial Department, Indirect Tax Department, Insurance Department, Direct Tax Department
- Co-ordination with various other departments like Indirect Tax Department, Direct Tax Department, Secretarial Department, Finance Department for proper and smooth preparation of Financial Statements.
- To analyze the area of automation wherever possible so as to facilitate smooth functioning without much manual intervention
- To assist/aid colleagues/peers in different areas so as to facilitate proper flow of information and necessary development of the individuals and in turn develop the entire team
- Mentoring the subordinates in accomplishing the organizational goals and development of their professional skills so as to achieve the overall organizational goal.