Accountant

Ashoka Global DMCC; Dubai; On-site; AED 40,000 - 80,000; Full time

Job summary

An established industry player is seeking a detail-oriented financial professional to manage commodity transactions and ensure accurate record-keeping. This role involves maintaining financial statements, managing accounts payable and receivable, and ensuring compliance with tax regulations. The ideal candidate will have a strong background in accounting, with proficiency in accounting software and advanced Excel skills. Join a dynamic team where your analytical skills will contribute to optimizing financial operations and driving business success. If you are passionate about finance and ready to take on new challenges, this opportunity is perfect for you.

Qualifications

• Bachelor's degree in Accounting or Finance is essential.
• 3+ years of experience in accounting or finance, preferably in a corporate environment.

Responsibilities

• Maintain accurate records for commodity transactions and inventory.
• Prepare financial statements and ensure compliance with tax regulations.

Skills

Accounting Principles

Financial Analysis

Analytical Skills

Communication Skills

Attention to Detail

Time Management

Bilingual Proficiency

Education

Bachelor's in Accounting

CPA or CMA Certification

Tools

QuickBooks

SAP

Microsoft Excel

Job description

• Financial Record Keeping for Commodity Transactions:
• Maintain accurate and up-to-date records for all commodity transactions, including purchases, sales, and inventory movements.
• Record the cost of goods sold (COGS) based on the acquisition and sale price of commodities.
• Track and adjust records according to market price fluctuations and contractual obligations (spot prices, forward contracts, etc.).
• Inventory Management and Reconciliation:
• Monitor and reconcile commodity inventory, ensuring accurate reporting of physical holdings and valuing the inventory at the current market price.
• Perform regular stocktakes and ensure commodity stock levels are consistent with financial records.
• Accounts Payable and Receivable:
• Manage accounts payable for commodity suppliers, ensuring timely and accurate payments.
• Oversee accounts receivable related to commodity sales, ensuring payments are received within agreed terms, and resolve any payment discrepancies or delays.
• Prepare and analyze monthly, quarterly, and annual financial statements, including profit and loss statements, balance sheets, and cash flow statements.
• Report on commodity trading activities, pricing trends, and market conditions to senior management.
• Ensure financial statements reflect the true cost of commodity production, transportation, and storage.
• Commodity Price and Risk Management:
• Assist in monitoring commodity prices and their impact on the financial performance of the company.
• Record the effect of price fluctuations and hedging activities on financial statements.
• Collaborate with risk management teams to assess commodity price risks and mitigate them through derivatives or contracts.
• Tax Compliance and Regulatory Reporting:
• Ensure compliance with relevant tax laws and industry regulations affecting commodity transactions, including VAT, excise duties, and other specific taxes.
• Prepare and submit tax returns, ensuring proper documentation for commodity-related transactions.
• Stay updated on the regulatory changes in commodity trading and taxation, ensuring compliance.
• Cost Control and Profitability Analysis:
• Analyze the costs of commodity procurement, production, and distribution to assess profitability and help the company optimize costs.
• Provide insights into price trends and their effect on cost margins, identifying areas where efficiencies can be gained.
• Audit and Compliance:
• Assist in the preparation of audits and liaise with auditors to provide necessary documentation.
• Ensure compliance with both internal controls and external regulations governing commodity trading and reporting.
• Ensure that all transactions related to the buying and selling of commodities are accurately recorded in line with industry standards.
• Transaction Reconciliation and Banking:
• Reconcile commodity transactions with bank statements, ensuring that payments and receipts align with financial records.
• Manage and track cash flow, particularly in volatile markets, ensuring the company has sufficient liquidity for trading and operations.
• Customer and Vendor Relations:
• Maintain relationships with suppliers, buyers, and other stakeholders in the commodities industry to ensure smooth financial operations.
• Resolve any issues with pricing, contracts, or payments promptly to maintain business continuity.

Desired Candidate Profile

• Bachelor's degree in Accounting, Finance, or a related field is essential for a strong foundational knowledge of accounting principles.
• Professional certifications such as CPA or CMA are highly preferred, demonstrating commitment to excellence and expertise in the field.
• Experience with accounting software (e.g., QuickBooks, SAP) is crucial for efficient financial management and reporting.
• A minimum of 3 years(In UAE) of relevant work experience in accounting or finance, preferably in a corporate environment, is required.
• Proficiency in Microsoft Excel is mandatory, including advanced functions like VLOOKUP and pivot tables for data analysis.
• Strong analytical skills are essential to interpret financial data and identify trends that impact business decisions.
• Excellent attention to detail is critical to ensure accuracy in financial reporting and compliance with regulations.
• Effective communication skills are necessary to collaborate with team members and present financial information clearly.
• Demonstrated ability to work independently and manage multiple tasks under tight deadlines is key to success in this role.
• Bilingual candidates with proficiency in English and another language are preferred, enhancing communication in diverse environments.

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