Chief Accountant

Eastern Province, Saudi Arabia
15 Apr 2019
16 May 2019

Plans, Organizes, lead and controls the activities of the finance department to ensure that all transaction are taken up in the books in accordance with generally accepted accounting principles and that management is provided with adequate and timely financial information for decision making and in a evaluating the performance of the company.

A) Operational

1. General Accounting

a) Accurate preparation of highlights of monthly income statement and analysis of variances between actual expenses and related budgets.
b) Timely preparation and submission of financial reports.
c) Prompt preparation of all accounting journals and subsidiary journals.
d) Reconciliation of general ledger with subsidiary records.
e) Prompt submission of selected schedule and analysis of balance sheet and profit and loss accounts required in the preparation of the year end audited financial statement.

2. Accounts Payable

a) Proper set up of trade and non-trade liabilities & its appropriate account.
b) Up to date processing of suppliers invoices and preparation of covering accounts payable vouchers.
c) That all disbursements are supported with original documents and approved purchase orders and sucj purchase were properly acknowledged by authorized personnel.

3. Inventory control (Fixed asset and other regular inventory items)

a) Accurate determination of inventory levels and costs.
b) Proper maintenance of fixed assets records, assignment of fixed assets number and proper verification of each asset through physical count.
c) Proper maintenance of supplier and other assets, inventory records and proper verification of existing balances through actual and physical count.

4. Receivables

a) Prompt recording of customer’s transactions via POS.
b) Prompt recording of customer’s payment via ERP receipts.
c) Maintain accurate presentation of customers balances through aging of accounts receivable and periodically reconciles its subsidiary ledgers to that of the clients.

5. Bank Reconciliations

a) Regular updates and reconciliation of bank balances against General ledger records.
b) Prompt preparation of journal vouchers affecting correction of general ledger balances and recording of bank debit/credit memoranda as a result of reconciliation made.
c) Files are kept organized.

6. Cash Flows

a) Maintains integrity of funds, security and other valuable documents.
b) Verifies accuracy of bank statements and resolves problems.
c) Statement of cash flows are prepared monthly, on timely and accurate manner and that analysis of such statements are prepared.
d) Maintain cash positions on daily basis and determining priority payments.
e) Ensure that all bank transactions are properly authorized.

7. Cost Control

a) Plan, organize and direct all activities of the cost accounting team
b) Support the Cost Team in the development of a standard costing system
c) Develop and maintain standard costs
d) Perform monthly closing activities including preparation of the COGS statements along with supporting analysis
e) Strategic analysis of variances and communication of issues and opportunities to operations.
f) Analysis of fixed and variable overhead

8. VAT tax

a) To ensure that all taxation filing deadlines of the business are met.
b) VAT input and output preparation, completion, review and submission of VAT returns within the filing deadlines and in compliance with the local VAT lows and policies.
c) VAT advisory role to advice on the VAT implications of transactions, and inform the team of the VAT issues and legislation changes.
d) Ensure systems ore up to date with VAT rate and changes in VAT regulations as appropriate.
e) Prepare VAT returns in accordance with statutory datelines.
f) Prepare Monthly exception reports to identify any unusual VAT transactions and errors.
g) Regular reconciliation of the VAT control accounts and records

9. Credit and Collections

a) Up to date processing of payments to suppliers through preparation of covering check vouchers and checks.
b) Ensuring that all the payments are properly supported and that payment to suppliers and other creditors have corresponding official receipt prior to release of checks.
c) Prompt follow up of receivables from customers are being made and that all collections are properly receipted.

10. Cash funds (petty cash, revolving funds etc.

a) Impress system of petty cash is maintained and strictly implemented.
b) Ensure that all transactions from the funds are properly authorized and accounted for.
c) Integrity and sufficiency of funds are maintained.

11. Payroll

a) Payment processing of payroll of all direct hired employees and their corresponding checks.

12. Banking relations

a) Maintain harmonious relationship with banks and other financial institutions
b) Attend to all bank correspondences in coordination and/or approval with/or finance manager.

B) Administrative:

1. Assist finance manager in setting up the department`s objectives, goals and work plans and reviews performance versus objectives.
2. Provides for adequate staff training and development.
3. Uplifts and maintain employees discipline, morale and motivation.
4. Ensures security and confidentiality of all books, records and files.
5. Controls department expenses.