Finance Close

Fixed Asset Accounting – Staff:

Purpose

Accurate accounting and timely processing of asset related transactions

● Assist the Fixed Asset- Executive in:

o Closing activities

o Maintaining documentation and files

o Adherence to the depreciation schedule

o Identification of obsolete assets and avenues for sale for the same

● Create new asset codes and assignment to an asset class

● Create purchase requisitions orders for the purchase of the assets in the system, wherever required

● Receive, verify and enter the documents in the system related to assets accounting like asset movement form, asset disposal form

● Apply settlement rules related to CWIP and perform the required capitalization in the system

● Carry out transaction processing related to asset accounting based on instructions in the process manuals

● Ensure accounting as per statute & company policy

● Follow the escalation matrix in case of any problem /difficulty

● Assist in projects accounting activities and help track the progress of the project along with the projects team

● Provide support for the physical verification process.

Unit Closing - Staff Purpose

To ensure accurate and timely closure of books in compliance with company policies, procedures and accounting standards

● Review trial balance to ensure no abnormal balances are shown

● Monitor closing tracker post closure of individual books. Perform month and year-end closing activities as per the closing calendar

● Perform closing activities, specific manual journal entries, document reversal etc.

● Analyse departmental expenses and make the proper corrections to ensure accurate product costing. Maintain and control cost accounts and cost centres

● Compute all adjustments resulting from inventory counts and ensure that are reflected properly in General Ledger

● Undertake pre-closing activity with respect to monthly, quarterly and annual closing of accounts

● Assist in the preparation of month-end and year-end financial statements with unit related inputs

● Participate in the preparation of the financial ad-hoc reports. Prepare other financial reports that are required by auditors. Provide insightful data to assist management in decision-making

● Timely completion of statutory audits & ensures statutory compliance. Incorporate changes suggested by statutory auditors and prepare the final copy of reports

● Continually update knowledge on accounting changes & co-ordinate with relevant stakeholders to close as per laws

● Carry out monthly and yearly closing activities of fixed assets sub-system

● Ensure compliance with company policies, procedures and accounting standards, applicable laws and regulations

● Perform accurate reconciliation of all balance sheet accounts as per defined schedules

● Create PBC for audit during period end. Follow up and support the closing activities to meet closing deadlines

● Scrutiny of General Ledgers to ensure accurate reporting. Perform manual journal entries, journal reconciliations, document reversal etc.

● Identify discrepancies, if any, in the processes / reporting / accounting and raise the same to the senior for further probing and action

Consolidation - Staff

Purpose

To ensure accurate and timely closure of books in compliance with company policies, procedures and accounting standards

● Carry out consolidation of financial statements

● Drive closure of intercompany issues and perform intercompany reconciliations

● Assist the Executive in maintaining the chart of accounts

● Assist the Executive in establishing accounting policies and communicate any changes made to the relevant stakeholders

● Assist the Executive in scrutinizing the GL

● Prepare annual and quarterly reports and filings 

● Carry out management adjustments at the direction of the Executive and maintain the necessary documentation

● Prepare disclosures for the financial statements and any supporting analysis, if required

● Assist the Executive in the external audit process and preparation of IndAS reports

● Collect, collate, interpret and summarize data required to respond to queries on financial statements

● Ensure time closure of audits by ensuring follow ups on closure by relevant teams as per the audit calendar