Head Accounts and Finance

JOB DESCRIPTION
Sr. Accounts & Finance Manager BASIK HO
Location: Head Office (Mumbai)
Department: Finance & Accounts
Reporting To: Director / Management

About BASIK Innovation LLP
BASIK Innovation LLP is a fast-growing manufacturing company in the consumer durable segment, focused on delivering high-quality, innovative, and cost-efficient products. With strong operations, expanding distribution, and a commitment to system-driven growth, BASIK aims to build a robust financial and operational backbone to support its next phase of expansion.

1. Role Objective
To lead and manage the entire finance and accounting function at BASIK Head Office, ensuring:

• Accurate financial reporting
• Strong internal controls
• Full statutory compliance
• Efficient cost management (manufacturing-focused)
• Strategic financial planning to support growth, profitability, and scalability

2. Key Responsibilities
A. Financial Reporting & MIS

• Preparation of monthly P&L, Balance Sheet, and Cash Flow
• Detailed MIS with variance analysis (Actual vs Budget)
• Product-wise & plant-wise profitability analysis
• Provide actionable financial insights to management

B. Contractor & Job Work Accounting

• Manage contractor billing, certification, advances, retention & settlement
• Track job work inventory, consumption & wastage
• Maintain cost sheets for outsourced manufacturing
• Periodic reconciliation of contractor & job worker accounts

C. Inventory & Stock Audit Control (Manufacturing Critical)

• Monthly physical stock audits (RM, WIP, FG)
• Ensure accurate inventory valuation (FIFO / Weighted Avg.)
• Monitor production losses, rejection, and scrap control
• Implement SOPs for inventory tracking

D. Budgeting & Financial Planning

• Annual budgets & rolling forecasts
• Factory cost analysis (power, labour, overheads)
• Identify cost-saving & efficiency improvement opportunities
• Support expansion & capex decisions

E. • Taxation & Statutory Compliance

• GST (returns, reconciliation, ITC control)
• TDS (deduction, payment, returns)
• Income Tax & statutory filings
• Handle audits, notices, and assessments
• Liaison with CA, auditors, consultants

F. ¥ Payroll & Employee Cost Management

• Payroll processing with compliance (PF, ESIC, PT, TDS)
• Final settlements, reimbursements
• Employee cost MIS & analysis

G. Banking, Cash Flow & Working Capital

• Daily fund flow monitoring
• Optimize working capital cycle (Inventory + Receivables)
• Manage banking operations (RTGS, NEFT, limits, documentation)

H. Accounts Payable & Receivable

• Vendor payment control & approval system
• Strong credit control & collection monitoring
• Periodic reconciliation of all ledgers

I. Audit & Internal Controls

• Lead internal & statutory audits
• Implement SOPs and financial controls
• Risk identification & mitigation
• Ensure audit-ready documentation

J. Team Leadership

• Lead accounts team with accountability
• Define KRAs, review performance
• Train team & improve processes
• Ensure discipline & accuracy

•  3. Key Skills & Competencies

• Strong expertise in Financial Reporting & Manufacturing Costing
• GST, TDS, Payroll & Compliance knowledge
• Experience in inventory, costing & job work accounting
• Strong analytical & problem-solving ability
• Advanced proficiency in Tally / ERP & MS Excel
• Leadership & team management skills
• High accuracy and attention to detail

4. Qualification & Experience

• Qualification: CA / MBA Finance / B.Com / M.Com
• Experience: 510 years
• Preferred Industry: Manufacturing / Projects / Trading

5. Key Performance Indicators (KPIs)

• Timely & accurate MIS and financial reporting
• Budget vs actual control
• Inventory accuracy & variance reduction
• Zero compliance penalties
• Contractor & job work reconciliation accuracy
• Payroll accuracy & timeliness
• Improved working capital efficiency

6. Behavioural Expectations

• High integrity & confidentiality
• Ownership mindset
• Proactive & solution-driven approach
• Ability to work under pressure & deadlines

7. Growth & Career Path

• Direct exposure to strategic decision-making
• Opportunity to grow into Finance Head / CFO role

8. Compensation

• As per industry standards
• Performance-based incentives
• Growth-linked rewards

Accounts & Finance Manager BASIK HO pg. 1