Senior Financial Accountant

Ithemba Recruitment; Durban; On-site; ZAR 400,000 - 800,000; Full time

Job summary

An established industry player is seeking a Senior Financial Accountant to oversee financial operations and ensure compliance with regulations. This role involves preparing budgets, managing financial reporting, and optimizing the company's financial performance. You will work closely with various departments, ensuring accurate financial data and effective cash flow management. If you have a strong background in financial accounting and a passion for excellence, this is a fantastic opportunity to make a significant impact in a dynamic environment.

Qualifications

• Minimum 2 years of commercial experience in financial accounting.
• Strong understanding of IFRS and tax regulations.

Responsibilities

• Prepare annual budgets and monthly management accounts.
• Ensure compliance with IFRS and tax regulations.
• Review and approve complex financial transactions.

Skills

Financial Analysis

Budget Preparation

Tax Compliance

Cash Flow Management

Internal Controls

Financial Reporting

Education

BCom Accounting

Completion of SAICA accredited articles

Tools

Pastel Evolution

Microsoft Office

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 transactions (depreciation, impairments, provisions, finance costs/income, discounting, lease straight-lining, management fees, administration fees etc.) and complex transactions.
• Review and approval of payments, together with accurate capturing of invoices in the accounting system, ensuring IFRS and tax compliance.
• Review of annual tax computations.
• Timeous preparation and payment of 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 weaknesses, 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).
• 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 transactions and tax 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 business are 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 company’s 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 audits 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
• Pastel Evolution (or similar software)
• Microsoft Office
• Experience in financial accounting for multiple subsidiaries within a large global group