Senior Financial Accountant

Ithemba Recruitment- Sourcing Top Talent; Durban; On-site; ZAR 300 000 - 400 000; Full time

Job summary

A leading recruitment agency is seeking a Senior Financial Accountant in Durban, South Africa. The role involves preparing budgets, reviewing financial statements, and ensuring compliance with IFRS and tax regulations. Candidates should possess a BCom Accounting degree, have completed SAICA accredited articles, and have at least 2 years of commercial experience. Proficiency in Microsoft Office and financial accounting for large global groups is essential.

Qualifications

• Minimum 2 years of commercial experience in financial accounting.
• Experience in financial accounting for multiple subsidiaries within a large global group.

Responsibilities

• Prepare and review annual budgets and financial statements.
• Ensure compliance with IFRS and tax regulations.
• Manage and reconcile inter-company balances and transactions.
• Review monthly management accounts and working paper files.
• Coordinate with auditors during the audit process.

Skills

Financial analysis

Budget preparation

Tax compliance

IFRS knowledge

Microsoft Office proficiency

Education

BCom Accounting or related

Completion of SAICA accredited articles

Job description

About the job Senior Financial Accountant

Duties and responsibilities:

• Preparation of annual budgets.
• Preparation/review of monthly management accounts including analysis/commentary.
• Preparation/review of the annual financial statements.
• Preparation/review of monthly working paper files and high-risk balance sheet reconciliations.
• Ensure routine transactions (expenses, asset purchases, cash book entries, sales etc.) are processed timeously by junior team members.
• Preparation/review of non-routine transaction (depreciation, impairments, provisions, finance costs/income, discounting, lease straight-ling, management fees, administration fees etc.) and complex transactions
• Review of and approval of payment, together with accurate capturing of invoices in the accounting system, ensuring IFRS and tax compliance.
• Review of annual tax computations.
• Timeous preparation and payment provisional taxation payments.
• Review of the monthly VAT and Payroll returns.
• Timeous settlement of inter-company trade accounts, loan accounts, shareholder loans, bank loans, bank facilities, creditors, SARS (Income Tax, PAYE, VAT) in line with agreed payment terms.
• Ensure that all inter-company balances are reconciled monthly.
• Timeous collection of loans receivable, inter-company trade accounts and trade debtors. Effective management of working capital. (Assist in the continuous improvement in supplier terms and customer terms).
• Effective tax planning and cash flow management. Identification of control weakness, designing of internal controls and implementation thereof.
• Timeous corrective action against internal audit and external audit findings.
• Adequate provisioning of impairments on stock (slow moving, damaged, loss of market share, obsolete, expired, NRV < cost) , debtors (long outstanding, close to credit limit, defaulting terms, disputes etc.), tangible (damaged, not in use, loss making, loss of market share etc.) and intangible assets (reputation damage, loss making, loss of market share).
• Reassessment of useful lives, depreciation methods and residual values for tangible and intangible assets quarterly.
• Review of profit and loss on asset disposals transactions.
• Review of general ledger transactions monthly to confirm accurate account allocations, IFRS compliance between capital and expense nature tractions and taxations compliance.
• Ensure annual stock take is performed (including monthly/quarterly as dictated by company policy). Review of stock count variances.
• Review and approval of consignment stock listings.
• Review and approval of petty cash expenses.
• Review all loan, creditors, facility, instalment sales reconciliations to external statements.
• Review and approve accruals ( test estimation accuracy by reference to trends and comparison of actual results to previous estimates)
• Ensure monthly standing debit orders of the businessare processed.
• Managing of operating costs.
• Assist the BEE project team to ensure the improvement and sustenance of the company's BEE score.
• Optimization of the companys financial position and financial performance.
• Liaise with the various departments and regional/operational managers to ensure efficient reporting.
• Liaison with external auditors during interim and year end audit to ensure all queries are responded to.
• Minimise audit overruns by ensuring diligent preparation of audit files/compliance with auditor requests.

Qualifications and experience:

• BCom Accounting or related
• Completion of SAICA accredited articles
• 2 Years commercial experience
• Microsoft Office
• Experience in financial accounting for multiple subsidiaries within a large global group