Purpose of the Role
The objective for this profile is to ensure smooth and efficient working of the Accounts department in discharging various activities, monitoring & reviewing the units accounting & following the policies and procedures laid down by the group, providing support to management on various reports and analysis. Complying with the SOPs, rules and regulations as applicable.
Preferred candidate profile
Financial Reporting:
- Prepare accurate and timely financial statements, including balance sheets, income statements, and cash flow statements.
- Ensure compliance with accounting principles (GAAP/IFRS) and regulatory requirements.
- Assist in the preparation of annual reports and financial disclosures.
- Prepare and review quarterly financial results for publication on the stock exchange, ensuring accuracy and compliance with regulatory requirements.
P & L Analysis
- Detailed monthly profit & loss analysis of all units to be conducted and reason of variances to be captured i.e. budget v/s commercial v/s actual.
- Finished Goods and RM Ageing and Valuation rates
- Checking of monthly stock valuations with respect to inventory valuation guidelines like costs considered, Sale rates taken for NRV etc.
- Capital Employed and Current Asset Reports
- Analysis of Debtor and Vendor Ageing
- Analysis of Capital Work in Progress
- Quality Claim
- Reporting extra-ordinary expenses to management
- Store Ageing
- Inter unit comparison of P&L
Payment monitoring
- Units are releasing various types of payments which mainly includes payments to store suppliers, wages, salary, statutory payments like GST, Entry tax, etc, Electricity payments, Coal payments etc. Some of these payments may require back end approvals from Corporate Departments. But number of payments being prepared by units on day to day basis is quite large and involves a huge amount as well so these needs to be monitored closely.
Audit and Compliance:
- Coordinate and liaise with external auditors during audits.
- Ensure adherence to internal controls and company policies.
- Monitor compliance with statutory regulations and tax laws.
Taxation:
- Prepare and calculate advance tax payments based on financial projections and tax regulations
- Ensure timely and accurate payment of advance taxes to avoid penalties.
- Stay updated on tax laws and regulations to ensure accurate tax reporting.
Inventory Analysis:
- Non-moving inventory to be analyzed on monthly basis and adherence to SOPs needs to be ensured.
- Physical verification report needs to be reviewed and discussed for any anomalies.
Internal External Audit Reports:
- Interaction with Internal/ External auditors and Tax auditors and Assisting in Tax assessment and providing data/ supporting documents as required, to enable the completion of audit on time.
- Analyzing the internal audit report and observations impacting finance to be discussed for correcting the process if any.
Financial Analysis:
- Conduct financial analysis to identify trends, risks, and opportunities.
- Prepare reports and presentations for senior management and stakeholders.
Compliance checking of corporate guidelines
- Compliance checking of corporate guidelines with respect to accounting SOPs and others like quarterly inventory physical verification by units
Records Keeping & TPM
- Ensure all accounting vouchers are printed and verified and are maintained serially for extraction purpose. Ensure all vouchers are sorted, binded and labelled on timely interval.
Other Activities
- Review of monthly reports as required and applicable.
- Monitoring of amounts blocked in TUFs, export incentives, state subsidy etc.
- Ensure that annual physical verification of fixed assets is completed as per schedule.
- Ensuring compliance of internal policies & procedures, GST rules & regulations, TDS compliances as applicable.
- Identifying the areas/ scope of improvement in routine activities, internal process and executing the same post approval from HOD. This may also relate to improvement in ERP
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