Financial Accountant - Manufacturing, Cape Town - Ref: 687974-27

Our client currently has an opportunity for a Financial Accountant to develop and monitor internal controls for inventory and fixed assets and to assist in the development of processes and procedures in other areas. Taxation responsibilities for the company including preparing transfer pricing, liaising with the tax department in the Netherlands, VAT and Income Tax calculations for review by the Senior Financial Accountant and Finance Manager. Financial accounting responsibilities for the company, including IFRS compliance and to carry out ad-hoc tasks as required.

Position details:

Inventory
Work closely with the Warehousing Supervisor and Logistics Manager in the development and documentation of Standard Operating Procedures for the entire inventory cycle.
Daily checks for accuracy of stock adjustments and ensuring corrective action is taken where necessary on a timely basis.
Obsolete stock write offs to be verified before financial manager sign off.
Assistance with the development, distribution and monitoring of annual stock count procedures, in line with IFRS.
Review of item cards for stock prices with agreed supplier contracts.
Ensuring that stock is valued in accordance with company policy, i.e. FIFO.
Implementation of regular stock cycle counts.
Attendance of the annual stock count: Overseeing the variance analysis as well as the evaluation and write-down of obsolete inventory.
Balance sheet reconciliation prepared on a monthly basis. Reconciling items to be resolved accurately and timeously.
Following up on long outstanding items received not yet invoiced.
Consolidation warehouse stock counts.
Accounting for goods in transit at half year end and year end.
Rebate register monthly checks and stock listing for company location.
Treatment of free costed stock at the end of projects.

Accounts Payable Local
Prepare purchase invoices (PI) for monthly expenses such as telephone, electricity and any other expenses not going through the Purchase Order (PO) process.
Allocation of costs to be queried with project managers, business controller and supply chain if it does not look correct. Corrective action to be taken before invoices are posted.
Creditor invoices to be checked if tax compliant before they are captured.
VAT: check whether the company can claim the input tax or not.
Creditor invoices to be posted in the correct period, with the correct GL and correct amounts.
Matching of invoice to PO’s. Review the information on the PO to ensure the cost allocation is correct i.e. project/job/GL code, VAT is correctly claimed, quantities and amount is correct.
Any discrepancies with the invoice to the PO needs to be investigated and fixed in the correct manner. Where necessary, report to Senior Financial Accountant.
Where invoices cannot be captured at month end, Senior Financial Accountant to be advised so that provisions can be raised.
Vendor reconciliations to be prepared according to the payment terms on Navision (i.e. it could be monthly or as stated on Navision). This is for local creditors.
Reconcile the vendor statement to the age analysis balance. The creditors age analysis is to be used when reconciling vendors? statements especially the monthly ones.
Resolve any reconciling items on the vendor reconciliations on a timely basis.
Goods received not yet invoiced need to be checked and resolved on a weekly basis.

Accounts payable foreign
Invoices are tax compliant by ensuring that VAT is charged at 0%.
Foreign exchange differences are correctly accounted for and calculated.
Quarterly foreign exchange translations are performed.

Intercompany Creditors
Monthly reconciliations of intercompany creditors

Intercompany Loans
Monthly reconciliations of intercompany loans

Manufacturing process
Document the manufacturing process in terms of financial impact, as well as developing and monitoring sound internal controls over the manufacturing process.

Lease Accounting
Preparing lease accounting calculations for review by the Senior Financial Accountant.

Revenue and Receivables
Preparing IFRS 15 and IFRS 9 calculations for review by the Senior Financial Accountant

Taxation
Transfer pricing (TP) questionnaire to be completed on a quarterly basis as well as other TP submissions as required, for review by the Senior Financial Accountant.
Preparation of the monthly VAT calculation for review by the Finance Manager.
Balance sheet reconciliation prepared for VAT on a monthly basis. Reconciling items to be resolved accurately and timeously.
Preparation of provisional tax and annual Income Tax calculations for review by the Finance Manager.
Assist with any taxation requests from the Finance Manager or Senior Financial Accountant.

Month End
Achieving month end deadlines.
Balance sheet reconciliations in responsible areas to be prepared and signed off within deadline.
Processing and filing credit card reconciliations and journals for Services and Repairs division on a monthly basis, for review by the Senior Financial Accountant.

Project recognition and WIP reporting
Recognition of project costs and sales on completion of projects.
Preparation of WIP reports for analysis by the Finance Manager.

Year end Audit
Liaising directly with the external auditors on the allocated sections as per job description as well as any other ad hoc query from the auditors.
Assisting the Senior Financial Accountant in managing audit deliverables.

Financial Internal Controls
Involvement in developing and preparing manuals of Standard Operating Procedures for key financial areas.
Spearheading the development of an internal controls matrix for key financial areas.
Regular testing and monitoring of the internal controls matrix.

Other
Assistance with the preparation of the Annual Financial Statements and IFRS compliance.
Ad-hoc reporting and requests from the Finance Manager and Senior Financial Accountant.

Overall
Financial controls and processes to be monitored on a regular basis and any deviations to be reported to the Senior Financial Accountant.
Pro-actively identifying areas for continuous improvement of processes and procedures.
Back up to Senior Financial Accountant and Financial Assistant where required.

Location (country, city): Cape Town

Job Qualifications, Skills & Experience:

Educational level
Bachelor of Commerce (BCom Accounting)

Education/experience
At least 5 years proven experience in a similar role, particularly with regards to inventory systems and internal controls in production/manufacturing environments.

Company Description:

To date, our client has constructed & delivered 40 vessels to the African continent (countries include South Africa, Zanzibar, Angola, Kenya and many more). Vessel types constructed and delivered to date have included offshore patrol vessels, dredgers, tugs, naval craft and supply vessels.