Specialist/Lead Analyst/Assistant Manager - Australian Accounting
Scope of work Review of bookkeeping, monthly management reports, financial statements and tax return prepared by the accountants for small & medium scale enterprises in Australia. Key Responsible Areas: Manage a team of 3 or 4 accountants Allocate jobs to team members based on pre-defined skill sets, prioritize jobs based on client requirements and deadlines Attend the job planning meeting and brief the accountants about the job approach Provide guidance to accountants Review bookkeeping, financials and tax return work completed by the accountants Provide constructive feedback to accountants on their performance Conduct training/refresher programs Conduct research on tax treatment for specific problem related to a job and share the outcome with accountants Tracking and monitoring client queries and review points; ensure such details are cascaded to the team on a periodic basis. Also, ensure repetitive errors do not occur Provide effort estimation for jobs received, monitor actual hours over budgeted hours and ensure they have minimal variance Conduct time and motion study, arrive at SUT (Standard User Time) per transaction. Monitor performance of processors Completing RCA (Root Cause Analysis) for the errors and review points provided by the client Ensure client SLAs are met at all times or negotiated effectively to ensure there is no negative impact on the end client deliverables Articulate queries and categorize them into Assumptions, Information and Queries Participate in client governance calls on requirement basis. Qualifications Bachelor or Master Degree in Commerce or equivalent of Commerce (optional) B.com., with CA/ICWAI/ CMA inter (semi) qualified Knowledge and Experience Knowledge in Generally Accepted Accounting Principles (GAAP) Working knowledge of various accounting software applications in Australia Working knowledge of sale of business, winding up of business and consolidation Minimum of 3 years working experience in Australian accounting and income tax laws Knowledge in small business entity concessions, capital gain tax, GST, Uniform Capital Allowance, pooling of asset, Division 7A, FBT,UPA, Personal Service Income, Non-commercial business loss rules, Tax Ruling, Class Ruling and Private Ruling Knowledge in workings of AP, AR and bank modules of bookkeeping Working knowledge of payroll, its reconciliation, concept of accruals and prepayments Knowledge in pay run, ABA file, bank portal workings Knowledge on PAYG withholding, Superannuation, Payroll tax, work cover rules Working knowledge of provisions applicable to GST Knowledge in tax laws applicable to commercial and residential property let out and sale of property Distinguish between Australian tax laws applicable for sole trader, partnership, company & trust Working knowledge on concepts of Hire purchase, Chattel mortgage, capital vs. revenue expenses, balancing adjustment, low cost vs. low value asset Working knowledge on General Ledger review and identification of tax sensitive areas. Knowledge on primary production and workings of closing stock Concept of inter entity loan, transactions and its reconciliation Concept of income tax reconciliation, accounting vs. taxable profit, borrowing cost vs. black hole expenses Others Willing to work in shifts Willing to follow to clients holiday calendar Willing to move internally to other business verticals of Sundaram *P.S: Individuals with Australian Accounting Experience only be considered for this role*
