Job Description

Senior Accountant - Automobile Business


Purpose and Scope


An Accountant is responsible for managing financial records, preparing reports, and ensuring accuracy in financial transactions. They handle tasks like maintaining ledgers, reconciling accounts, processing invoices, and managing taxes. Accountants contribute to budgeting, financial analysis, and financial decision-making within an organization. Attention to detail, analytical skills, and a strong understanding of financial principles, industry practices are essential for this role.


Responsibilities and Duties


• Maintain accurate and up-to-date trial balance records, reconcile accounts, and rectify discrepancies as necessary.


• Prepare and finalize financial statements in accordance with International Financial Reporting Standards (IFRS), ensuring compliance with relevant accounting regulations and guidelines.


• Generate timely and accurate Management Information System (MIS) reports for internal stakeholders, analyzing financial data to provide insights supporting decision-making.


• Conduct financial performance analysis to identify trends, variances, and opportunities for improvement, providing recommendations for cost optimization and revenue enhancement.


• Prepare ad-hoc financial reports and analyses as requested by management, coordinating with external auditors to facilitate the completion of annual audits and ensuring compliance with audit requirements.


• Oversee accounts payable functions, including invoice processing, payment approvals, and vendor management, ensuring timely and accurate processing of payments.


• Manage direct and indirect tax compliance, including preparation and filing of tax returns, staying updated on tax regulations, and implementing necessary changes.


• Monitor cash flow and manage treasury operations to optimize liquidity, executing fund transfers and foreign exchange transactions as required.


• Administer banking processes, fund management, trade finance activities, including letters of credit, bank guarantees, and relevant documentation.


• Maintain accurate records of accruals, pre-paid expenses, and other accounting entries, reconciling accounts to ensure accuracy and completeness.


• Maintain a register of fixed assets and ensure proper accounting treatment, conducting periodic asset reviews and impairment assessments.


• Provide guidance and supervision to junior accounting staff, conducting training sessions to enhance team skills and knowledge.


• Assist in the budgeting process and prepare budget vs. actual reports, monitoring budget performance and providing variance analysis.


• Manage accounts receivable functions, including invoicing, collections, and credit control, monitoring aging reports and following up on overdue accounts.


• Oversee inventory accounting and valuation processes, coordinating physical inventory counts and reconciling discrepancies.


• Reconcile accounts with Original Equipment Manufacturers (OEMs) and insurance companies, investigating and resolving discrepancies in a timely manner.


• Provide support to the Head Office finance team as required, assisting in the preparation of consolidated financial statements and reports.


• Recommend improvements to policy and implement procedures and controls covering all areas of the finance function for cost reduction and financial compliance.


• Any other duties and responsibilities as assigned from time to time.



Organisational Relationships


Reports to: CFO / General Manager


Location: Fujairah, UAE.


Job Specifications


• Qualification, Knowledge, Experience
• Academic Qualification & Professional Qualification
• Bachelors or Masters in Commerce, Semi-qualified CA / CMA / ACCA etc.
• Experience (minimum preferred)
• 5+ years of Experience with financial record management, ERP, account reconciliation, and tax-related tasks in the Automobile industry in UAE / Gulf. Knowledge of Arabic will be an added advantage.


Technical Requirements


• Effective at managing financial data, invoices, and reconciling accounts in an organized manner.


• Meticulous in maintaining accurate financial records and ensuring precision in transactions.


• Competent in using accounting software for tasks like invoice processing and financial record management.


• Knowledgeable about tax regulations and proficient in handling tax-related tasks to ensure compliance.


• Skilled in contributing to budgeting activities and aiding in financial planning for the organization.


• Proficient in financial analysis, supporting informed decision-making within the organization.



Key Competencies


• Revenue Growth Rate Net Profit Margin Gross Profit Margin
• Operating Profit Margin Accounts Receivable Turnover Accounts Payable Turnover
• Working Capital Ratio Return on Assets Expense Ratio
• Cash Conversion Cycle