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Job Descrption

Section I: Job Purpose

The role holder is accountable for overseeing the Fixed Assets (FA) register, encompassing the recording and management of daily transactions concerning fixed assets creation, retirement, depreciation, alongside handling payable invoices and managing the accounts payable process. They are tasked with ensuring precise recording and monitoring of fixed assets, including processing vendor invoices, reconciling accounts, and adhering to accounting standards for maintaining fixed asset records.

Section II: Key Responsibilities

Accounts Payable
• Lead the annual budgeting process and supervise monthly/quarterly forecasting activities.
• Provide support to the Accounts Payable (AP) accountant in recording payable invoices when necessary.
• Validate AP invoices uploaded through OCR/Payment Gateway before they are entered into the Oracle system.
• Validate all non-PO based invoices and communicate with the procurement team regarding the need to create or manually record POs in the system.
• Validate all POs and their statuses before processing invoices for all entities.
• Verify tax invoices received from vendors and provide guidance if any changes are necessary.
• Review invoices (including distribution, tax classification, etc.) posted by AP assistants for all entities.

Review AP aging and AP accrual reports monthly.

Fixed Assets
• Record daily transactions concerning the creation of new fixed assets, process post-retirement entries, and execute depreciation and impairments using Oracle.
• Maintain the Fixed Assets (FA) register for all assets across the group's entities.
• Monitor and manage the classification of Fixed Assets, Investment Properties, and Development Work in Progress.
• Oversee assets inventory and ensure accurate recording of cost of goods sold related to property sales.

Track all newly acquired and retired assets, collaborating with the Asset Management department for tagging, de-tagging, and handling disposal proceeds.

Month-end Closing
• Monthly close of FA, Inventory and AP module in Oracle, and match sub-ledger to GL as part of the monthly close process.
• Assist the Assistant Manager Finance on various ad-hoc tasks and assignments.
• Assist in the month-end closing process by preparing accruals and reconciling accounts payable and fixed asset accounts.
• Generate and analyze reports to ensure completeness and accuracy of financial data.

Compliance and Risk Management
• Ensure compliance with internal controls and accounting standards related to accounts payable and fixed assets.
• Assist in the preparation of financial statements and supporting schedules.

Provide documentation and support for internal and external audits. Systems and Process Improvement
• Identify opportunities to streamline accounts payable and fixed asset processes and enhance efficiency.
• Implement best practices to improve accuracy and effectiveness in accounts payable and fixed asset management.

Section V: Qualifications, Experience & Skills

Minimum Qualification:
• Bachelor’s degree in finance, Accounting.
• Professional qualification of CPA or CIMA will be an added advantage.

Experience:
• Minimum 5 to 7+ years of experience.
• Proficiency in IFRS, including IAS 2, 16, and 40, is required.
• Experience with Oracle EBS, Oracle Fusion, or other leading accounting systems is essential.
• Experience in real estate development and asset management/construction is preferred.

Skills:
• Proficiency in financial software and tools, such as Enterprise Resource Planning (ERP) systems (e.g., Oracle, SAP).
• Strong understanding of accounting principles and practices, including accounts payable processes, fixed assets accounting, and depreciation methods.
• Ability to accurately record and reconcile transactions, pay close attention to numerical data, and identify discrepancies or errors in financial records.
• Strong organizational skills to manage multiple tasks, prioritize workload, and meet deadlines in a fast-paced environment.
• Effective communication skills to liaise with vendors, internal stakeholders, and external auditors. Ability to convey complex financial information clearly and concisely.
• Strong analytical skills to analyze financial data, identify trends or anomalies, and provide insights to support decision-making.
• Ability to identify and resolve issues related to accounts payable processing, fixed assets management, and reconciliation of financial records.
• Ability to work effectively within a team environment, collaborate with cross-functional teams (e.g., procurement, asset management), and provide support to colleagues when needed.
• Commitment to maintaining the confidentiality of financial information and adhering to ethical standards in handling sensitive data.

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