OFFICER I - ACCOUNTS (Fixed Assets)

Job Description

Job PurposeHandling Accounts related activities pertaining to Fixed Assets / Customer Accounts / Group Company transaction or related activities.Primary ResponsibilitiesBusiness Responsibility Areas(Please detail out at least 8-10 responsibility areas)Key Performance Indicators1. Recovery from Group Companies- Ensuring timely and accurate recovery of various expenses from Joint Ventures and Subsidiaries- Monitoring Related party transactions and ensuring that they are within the overall limits as approved by the Board- Ensure that collections are received on timely basis by sending timely information of due invoices to related parties.- Reporting approval vs actuals on a monthly basis- Intercompany reconciliation- Work with IT in building the IT controls for complying with the provisions of Companies Act / Listing Agreement w.r.t. RPT:2. Debtors- Preparation of debtors and analytical review of the same at business area level-Identifying key risk parameters for potential identification of customer defaultsand highlighting it to sales team.-Preparation of provision for doubtful debts working as per provision policy and reasoning of the same from respective regional managers- Interaction with Legal team and sales team for identification of customers and initiating legal recovery process based on potential default analysis3. Bank reconciliation activities-Understanding of system around collections posting & cheques posting and preparation of reco for open line items for timely closure by interaction with stakeholders-Understanding of systems around payment postings and Preparation of payment reco on timely basis and communicating it to stakeholders for timely closure4. Other Customer Accounting Related- Closure of all Documents not released to accounts cases- Debtors Revaluation- Blocking / Unblocking of Customer accounts- Invoice Cancellation and preparation of MIS- Monthly circulation of Debtor balance confirmation and reconciliation of differences as part of ICFR- Audit related queries- Other general customer accounting related activities -non DBC customers5. Asset Creations and Capital / Revenue of Projects in progress i.e. CWIP- Understanding of flow of accounts from Budget to incurrence of expenditure from accounting perspective in SAP- Ensuring data gathering and understanding of each project from technical and accounting point and accounting to Fixed Asset at right time.- Interaction with stakeholders like Plants and depots and understanding their technical perspective- Maintenance of different data and records supporting the act of accounting6. Sale / Transfer of Asset - Upholding the process & guidelines of FA Manual- Agility in regular monitoring of open items and closure of it in real time with proper records maintenance and accuracy.7. Reports like FA Schedule, Major Revenue, Provisions, with MIS scrutiny and providing timely certification to stakeholders- Preparation of FA Schedule as per Books & IT.- Major Revenue sanity and its reporting with cause of concern if any.- Monthly MIS reporting for the function- Timely and upfront delight to stakeholders with respect to FA related certification8. Proactive in improvement / enhancement projects in areas of scope- Contribution proactively in IT development projects- Reasonable delivery of the projects.- FA Manual and other process manuals to be improved or taken up as a new area to ease the path of stakeholders- Ensuring all costs incurred on behalf of intercompany are recovered properly- Ensuring pricing of transaction is as per approval of Audit Committee- Timeliness of recovery- All transactions being within the limits approved- Timely receipt of collections- Bringing out key analysis points and communication it to stake holders for comments- Identifying risk parameters and constant review of the same.- Accuracy of data preparation and reporting- Ensuring significant reduction of customer defaults and thus reducing hit to P&L-Proper understanding of systems and ensuring timely closure of open line items on monthly basis.-Interaction of key stakeholders and highlighting delay in accounting of payments or collections by preparing MIS reports- Quality of exception reporting and follow up for closure of old open items- Hygiene of Customer accounts- Understanding of the Project, Creation of FA Register and timelines of accounting- Hygiene of CWIP- Timely accounting of Revenue expense incurred in Capex Project- Zero Balance of the control account on a month end.- Streamlining of process of flow of documents and data- Preparation of report on lines of INDAS and IT Act and adherence to the requirement of Central accounts.- MIS report with critical review and comments- Pro-activeness and skill showing giving a project which bring delight to stakeholders.Scope of Worka) Financial Scope (Range of financial spend):Company Turnover of approx. Rs. 18,500 crsPBT of approx. Rs. 4,090 crsb) People Management Scope (Range of no. of Direct/ Indirect Reports):Nilc) Geography Coverage (Country-wide/ State-wide / Area-wide)Country wided) Corporate Coverage (Company-wide / Business Unit or Function-wide / Sub-function-wide / Other):Company wide,

Keyskills :
it controlsfixed assetsmis reportingcompanies actjoint venturesit developmentdata preparationpeople management