Industry: Automobiles
Total Positions: 1
Job Type: Full Time/Permanent
Gender: No Preference
Salary: 4000USD - 6200USD (Monthly)
Education: Chartered Accountant
Experience: 15-20 Years
Location: Muscat, Oman
Skills: Financial Strategy, Reporting, Budgeting and forecasting, Team Leadership, Cashflow Management
Posted Date: 26-03-2024
Description:
The job holder is responsible for applying accounting principles to financial information, finalization of books of accounts, compliance of IFRS and accounting policies, statutory audit and tax compliance. This includes executing supervisory functions and ensuring adherence to accounting control procedures.
4. Key Accountabilities
Revenue Accounting & Credit Control
• Monitors and Approve vehicle & parts costing to ensure the costing is booked in the system on time
• Oversees scrutiny and endorsement of refund requests received from BUs to enable payments
• Supervises the pending WIP in all sales locations and alerts the BU in order to initiate corrective action
• Oversees recording of invoices, debit notes, credit notes, journal entries, labour accommodation charges, etc to ensure timely accounting of revenue and expenses
• Oversees maintenance of shipment discrepancy claims to ensure they are made in a timely manner
• Reviews deviations related to reduced Gross Profit and escalates them to BU Managers to enable control of Gross profit levels. The process includes highlighting tenancy contracts renewals with discount percentages that exceed the Authority Matrix levels
• Oversees service contracts, IPS and extended warranty accounts reconciliations with the schedule of contracts to ascertain the balances and over and short utilisation in the respective accounts
• Reviews service contract process and follows-up with operations to carry out reconciliations. This includes revenue reconciliations, booking of operational revenue and minimum guaranteed hours.
• Supervises automotive parts inventory tasks, including costing of GRNs, pending claims on shipment discrepancies to ensure cost of goods are appropriately accounted for
• Certifies incentives of staff to ensure calculations are accurate
• Oversees reconciliation of bank, intercompany, clearing accounts, insurance accounts, customer accounts, assigned GL accounts, SL/GL balances, Managed property accounts, claims, advances, deposits, parts audit reports, credit card, inventory etc to ensure the accuracy of books, timely recording of entries as well as clearing of pending entries
• Oversees dues against bank deals and follows up with Credit Controller to ensure timely collections from banks
• Creates provisions for inventory and receivables and vehicle write down cost sheet accounting to book concerned expenses periodically
• Supervises credit reviews, collections, initiation of legal actions, circulation of balance confirmation letters, receivable balance reconciliations to ensure prompt and timely collections and accounting books are maintained efficiently, with strict adherence to credit policies
• Participates in periodic meetings with the BU to review issues concerning credit control
• Oversees internal customer accounts (gifts, promotions etc) and escalates deviations to facilitate corrective actions
• Monitors periodic review of claiming of customs refund.
• scrutinising supplier incentive credit notes and recording them in books for timely accounting of revenue
• Oversees the periodic and annual physical stock count to ensure the activity is carried out in line with the stock count instructions and guidelines and minimize discrepancies
• Extracts reports from the system and distributes them to the BUs to facilitate timely circulation to customers and management review. These reports include customer statements, age analysis, dishonoured cheques, bank guarantees, inventory key figures, overdue warranty claims, pending claims on shipment discrepancies, service contract and extended warranties
• Supervises processes related to customer balance confirmation letters on a yearly basis and obtains customer confirmations to reconcile balances with customers’ accounting books
• Escalates sales with low margins to the Management to ensure sales are executed as per the approved price list
• Monitors creation of customer accounts in the system to ensure the appropriate credit limits are updated as per the approved credit limit
• Circulates stock count procedures to Business Units and advises Management on variances of count to ensure appropriate processes are adhered to as well as highlight discrepancies for corrective action
• Oversees preparation of various reports to facilitate management review. This includes Customer age analysis, overdue debts, monthly parts inventory report, stock key figures report, weekly provisions forecast, pending claims, cash collections etc
• Reviews contracts to ensure the compliance of terms and conditions
• Oversees preparation and update of SOPs to ensure company policies and procedures are met
• Interacts with internal and external auditors and provides required information to them to ensure timely completion of audit
• Participates in IT projects to ensure system implementation is completed as per set milestones