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Senior Accountant, General Ledger
Majid Al Futtaim Properties
The position is responsible to handle all General Ledger accounting transactions, ensuring compliance with International Financial Reporting Standards as well as local regulations. It is responsible for the proper and timely closing of the books of accounts on monthly and quarterly basis as well as at the year-end.
Role Details – Key Responsibilities And Accountabilities
- Perform GL Accounting processes efficiently and effectively, and support business activities in relation to those processes.
- Ensure effective and efficient communication with the operating teams in connection to any issue, requirement, or inquiry.
- Ensure compliance with internal controls and procedures as per company’s financial Policies in connection with GL accounting and recommend improvements.
- Prepare Bank Reconciliations for assigned area of responsibility on monthly basis ensuring correctness of all bank balances and resolve outstanding reconciling items or escalate to higher management in case of disputes.
- Prepare Inter-company Reconciliations on monthly basis ensuring transactions accuracy and completeness, and resolve outstanding reconciling items and escalate if required.
- Monitor and reconcile GL control accounts on regular basis and ensure correct and accurate balances.
- Run GL Accounting related integrity reports on monthly basis and ensure no issues are outstanding.
- Liaise with Internal and External auditors on accounting and financial reporting matters or any other matters as and when required; ensuring timely implementation of audit recommendations.
- Maintain all inter-company accounts as well as bank balances through regular reconciliations and resolution of issues.
- Maintain proper control over accruals and provisions during as well as at the end of the fiscal year ensuring correctness, completeness, and adherence to the company’s financial policies and procedures.
- Prepare journal entries for the assigned area of responsibility for posting to the company’s general ledger accounting system.
- Ensure compliance with monthly, quarterly and year-end Closing Check List.
- Process and enter the monthly, quarterly and year-end closing entries, ensuring all deadlines are always met.
- Communicate to and coordinate with all concerned parties with regards to accruals/provisions requirements during the year and review adequacy and correctness of accruals/provisions on monthly basis.
- Prepare entries for all prepaid amortizations, advances, and allocations ensuring accuracy and compliance with IFRS/IAS.
- Prepare foreign currency schedules for all monetary balances of malls/offices balance sheets on monthly basis and ensure proper recording of resulting Forex Gain/Loss.
- Prepare the Balance Sheet Schedules of assigned area of responsibility and initiate necessary actions to resolve issues.
- Prepare Income Statement Schedules of assigned area of responsibility and communicate the same to all stakeholders.
- Provide details of data residing in the accounting systems to the business teams on a monthly basis and resolve any issues reported back to finance. Prepare debit/credit notes.
- Perform unannounced Petty Cash counts throughout the fiscal period.
- Prepare transactions relating to transfer of funds and borrowing.
- Prepare Loan balance, movement schedules and cash flow projections of borrowings for use by key stakeholders.
- Provide required assistance in implementation of new financial systems, interfaces, and/or system improvement as well as similar initiatives.
- Prepare tax declarations as required by local regulations.
- Ensure compliance with the MAFP Code of Conduct, Departmental policies and HC Policies and Procedures at all times.
- Be the advocate and ambassador of aligning and cascading the MAFP values in the assigned area of responsibility and ensure that it is adhered to and exhibit the same all the time.
Minimum Qualification/ Education
- Bachelor’s Degree in Accounting or Finance
- Professional qualification such as CIMA /ACMA /ACCA etc. is highly desirable
- Minimum 4 – 6 years of post-qualification experience working within a Finance function in GL Accounting within a reputed real estate development / asset management organization in GCC or abroad in a similar role.
- Financial Services
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