Accountant

Salary – 3500 AED

Key Responsibilities :

. Financial Record Keeping

• Maintain financial records: Record daily financial transactions, including sales, expenses, and purchases, to ensure accurate and up-to-date records.
• Manage ledgers: Maintain general ledgers, journal entries, and subsidiary ledgers to track financial data and ensure proper documentation.
• Ensure accuracy: Verify that all financial data entered into the accounting system is accurate and in compliance with established accounting principles and standards.

2. Preparation of Financial Statements

• Prepare financial statements: Prepare monthly, quarterly, and annual financial statements such as the income statement, balance sheet, and cash flow statement.
• Ensure compliance: Ensure that financial statements comply with accounting standards such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).
• Review and analyze financial data: Review financial results to ensure accuracy, consistency, and compliance with relevant regulations.

3. Budgeting and Forecasting

• Assist in budget preparation: Collaborate with management to prepare budgets and financial forecasts, ensuring alignment with business goals and objectives.
• Monitor budget performance: Track actual financial performance against the budget, identifying discrepancies and suggesting corrective actions when necessary.
• Provide financial analysis: Offer insights into financial trends, spending patterns, and potential cost-saving opportunities.

4. Tax Compliance and Filing

• Prepare tax returns: Prepare and file tax returns (e.g., corporate income tax, sales tax, payroll tax) in compliance with local, state, and federal tax regulations.
• Stay updated on tax laws: Keep up to date with changes in tax laws and regulations to ensure the organization remains compliant.
• Tax planning: Assist in tax planning and strategies to minimize tax liabilities while adhering to legal requirements.

5. Accounts Payable and Receivable

• Manage accounts payable: Oversee the process of paying bills, invoices, and other financial obligations, ensuring timely payments and proper documentation.
• Manage accounts receivable: Track outstanding invoices and ensure timely collection of payments from clients or customers.
• Reconcile accounts: Regularly reconcile accounts payable and receivable to ensure accuracy and resolve any discrepancies.

6. Internal Controls and Audit

• Implement internal controls: Develop and maintain internal control procedures to safeguard assets, prevent fraud, and ensure the accuracy of financial reporting.
• Prepare for audits: Assist with the preparation for internal and external audits, ensuring that all required financial documentation is readily available and compliant with auditing standards.
• Review financial operations: Identify areas for improvement in financial operations and implement solutions to enhance efficiency and accuracy.

7. Financial Reporting

• Generate reports: Create regular financial reports for management, stakeholders, or investors, providing insight into the organization’s financial health and performance.
• Support decision-making: Provide management with financial data and analysis to support strategic decision-making.
• Evaluate financial performance: Provide detailed analysis of financial performance metrics such as profitability, liquidity, and solvency.

8. Cost Accounting

• Track costs: Monitor and analyze the cost of goods sold (COGS), overhead costs, and other expenses to assess the profitability of the business.
• Conduct cost analysis: Provide recommendations for cost reduction and efficiency improvements based on cost analysis.
• Allocate costs: Accurately allocate fixed and variable costs to products, services, or departments to assess the true cost of operations.

9. Cash Flow Management

• Monitor cash flow: Track and manage cash flow to ensure that the organization has enough liquidity to meet its financial obligations and avoid cash shortfalls.
• Cash flow forecasting: Prepare cash flow forecasts to predict future cash needs, helping management make informed financial decisions.
• Manage financial risks: Identify potential financial risks, such as cash flow shortages, and recommend strategies to mitigate them.

10. Financial Analysis and Strategic Planning

• Analyze financial data: Conduct in-depth analysis of financial statements, trends, and key performance indicators (KPIs) to provide insights into the company’s financial health.
• Support strategic planning: Collaborate with management to develop long-term financial strategies, including investment planning, expansion, and profitability optimization.