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The Chief Accountant is responsible for managing and overseeing all accounting and financial activities of the Company, including the production facility, warehouses, showroom, head office, and the financial integration and reconciliation of the retail stores.
The role ensures the accuracy of financial records, compliance with accounting standards and company policies, effective internal controls, and timely reporting to management.
Key Responsibilities
1. Financial Management and Reporting
- Oversee the preparation of monthly, quarterly, and annual financial statements.
- Ensure the accuracy and completeness of the general ledger and all accounting records.
- Prepare management reports, cash flow statements, and financial analyses.
- Monitor budgets, expenses, and cost allocations across all departments.
- Provide financial insights and recommendations to senior management.
2. Production Accounting
- Supervise all accounting activities related to the production area.
- Monitor raw material consumption, production costs, labor costs, and manufacturing overhead.
- Analyze production variances and cost efficiencies.
- Ensure accurate costing of finished goods and inventory valuation.
3. Warehouse and Inventory Accounting
- Oversee inventory accounting for all warehouses.
- Monitor stock movements, inventory valuation, and reconciliation with physical counts.
- Review inventory adjustments, write-offs, and stock discrepancies.
- Ensure proper accounting treatment of damaged, expired, and obsolete inventory.
4. Retail Stores and Intercompany Reconciliation
- Supervise the accounting operations of the Company's retail stores.
- Ensure accurate recording of sales, purchases, returns, and expenses.
- Act as the financial link between the stores and the head office by overseeing reconciliations and inter-branch transactions.
- Consolidate financial information from both stores into the Company's accounting records.
- Ensure consistency of accounting policies and procedures across all locations.
5. Showroom Accounting
- Monitor showroom sales transactions and customer accounts.
- Ensure proper invoicing, collections, and recording of revenues.
- Reconcile showroom inventory with accounting records.
- Analyze showroom profitability and operating expenses.
6. Internal Controls and Compliance
- Establish and maintain effective internal control procedures.
- Ensure compliance with accounting standards, tax regulations, and company policies.
- Coordinate with external auditors and provide all required documentation.
- Monitor financial risks and recommend corrective actions when necessary.
7. Team Leadership
- Supervise and guide the accounting team across all business units.
- Review staff performance and provide training and professional development.
- Ensure efficient workflow and proper segregation of duties within the department
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