Asst. MgrGeneral Ledger Accounting

Job Description

Preparation of Financial Reporting to ensure timely and accurate closure of financial statements which includes profit & loss and Balance sheet for WMI. Getting the accounts audited by external auditors on yearly basis 2. PRINCIPLE ACCOUNTABILITIES List the expected end results that must be achieved in order to fulfil your job purpose and the activities that help in achieving these results. EXPECTED END RESULTS MAJOR ACTIVITIES To ensure correct and timely Financial Reporting to Senior Management -Timely Closure of PL and BS on monthly basis in accurate manner Preparation and analysis of monthly Club P&L for WMIPL and all Balance Sheet Accounts and ensuring monthly closing within 4th working day of next month. Preparation of various reports to be circulated as per defined timelines. Regular follow-up for completion of activities by other sub functions. Ensure proper cost centre accounting at clubs for the better control of expenses. SAP Jewel reconciliation on monthly basis ensuring no duplicity / omission of SAP batch into Wal-Mart system Proper updation / preparation of schedules for ABS and there approvals on site. Checking of all GR done into SAP on monthly basis to rectify any wrong GR at cost centre and account level. Internal and External audits Preparation of Statutory Financial /Yearly/Tax Year as per IGAAP Coordination with Statutory & Tax Auditors for all audit issues within audit timelines. Explanation of variances related to all heads of financial statements. Coordination with cross functions for audit related issues and information which are part of financial i.e Legal Department, treasury, Assets Protections, Business Planning, operations etc. Preparation of RPT schedules within 15 days from date of closure of period. Memo on impairment testing to auditors as per defined formats. Ensure closure of internal audit as per timelines and explanation of issues raised by internal auditors 10K Submission/US GAAP Checklist Preparation of 10K Footnote at yearly basis. Implementation of new processes and controls around 10K reporting process to ensure accurate reporting and consolidation. Quarterly submission of US GAAP Checklist to btvl BUAR Review Preparing detailed presentation of each line item of Financials which include complete line by line commentary of Balance sheet and PL line items. Coordination for closing the issues raised during BUAR reviews within defined timelines. Financial Reporting and Accounting Package Preparation of FRAP on regular basis for monthly balance sheet calls Preparation of Variance analysis or Balance sheet call out Preparation of executive summary Data consolidation from internal audit /Legal, EFC and planning team. Ensuring Fiscal Governance and Internal Controls Fiscal Review Balance sheet Ensure Monthly Fiscal Review with Top Management which includes consolidated profit & Loss account and Balance Sheet for WMIPL and WMIT. Ensuring all schedules are consolidated and saved on common place for future reference. Analysing the Schedules analysed in depth and raised the concern on process, controls from BS perspective. Ensuring issue are documented under Minutes of the same and shared with all stake holders timely. Also ensuring and coordinating for closure of open issues related to balance Sheet. Control and Review General Ledger Accounting Review Investment accounting and ensuring correct accounting. Review of Bank Reconciliation and timely closure of reconciled items. Accounting of stale cheque and to ensure that more than 3 year shall be deposited to LWF as per relevant state laws Maintenance of details for Capital and Operating expenditure in foreign currency. Atomization of various reports to ensure minimisation of manual errors and saving of time. Maintenance and Control over Chart of Accounts (Legacy and HFM). Analysis of GRIR on regular basis to ensure that all PO based GRN shall be accounted as per Chart of Account. Accounting of Fixed deposits and TDS on the same on regular basis Accounting of Intercompany elimination on monthly basis Blocking of Unused Account code in SAP to ensure no wrong accounting in system. Accounting of Current and Noncurrent of Balance sheet item at month end. Ensure accounting of Mark to market on Open Forward contract at each month end as per IGAAP as well US GAAP. Documentation of all Bank statement in hard copy as well as in soft copy in server for all future reference Documentation of signed Financials, Actuarial certification and FD copies in server for all future reference. Booking of Expat invoices and BSS invoices received from Bentonville and communication with Bentonville team for any deviation in invoices. Accurate provisioning of Expat/ BSS expenses by last day of month. Accounting Expat TDS and PF on monthly basis 3. MAJOR CHALLENGES System does not support for real time data access due to which Closure of monthly all club P&L within 4rd working days is major challenge Review and Control through various Manual Activities. Accuracy of data provided by other functions at month end for provisioning. 4. KEY DECISIONS Provisioning of expenses in books of accounts. Setting of processes for better execution of activities undertaken in the business related to finance department. Resolution of issues raised during Fiscal review on regular basis. 5. DIMENSIONS Store P&L - 21 stores in Oct 17exit to increase to 27 stores in 2018 Home Office - Review of P&L of all cost centers of home office. Financial Reporting 1 Company Finance Process - Applicable for all over India 6. SKILLS AND KNOWLEDGE State the minimum acceptable proficiency for this job. Do not state incumbent-specific information

Keyskills :
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