The Accounts and Taxation Lead will oversee all financial transactions, ensuring compliance with internal policies and accounting standards, while managing financial reporting and tax compliance.
Responsibilities
- Periodically review all financial transactions in order to ensure compliance with internal policies and procedures as well as acceptable Indian accounting standards
- Oversee and control all accounts receivables transactions, accounting and customer account reconciliation to ensure timely and accurate closure of ledger entries and books.
- Ensure accounts receivable transactions are in compliance with the approved credit limits as per the internal policies
- Oversee and control all accounts payables transactions, invoice verification, accounting, payment releases and vendor reconciliation to ensure timely and accurate closure of ledger entries and books, as well as compliance to internal policies and procedures
- Oversee the preparation and sharing of accounts receivable and accounts payable ageing reports and highlight concerns to CFO in order to minimize bad accounts & pending payments
- Oversee the travel and expense process for employees and ensure all disbursals are as per internal controls, service levels and policies defined.
- Oversee and control period end book closure activities.
- Collaborate extensively with other accounts teams to ensure their support in monthly, quarterly and annual close processes and ensuring that journal entries and balances are correct.
- Maintain periodic control on the reconciliation of accounts with the general ledger and ensure that all entries are accurate and that transactions are reported in accordance with accounting standards and government regulations.
- Ensure the timely preparation of consolidated financial statements such as profit & loss, balance sheet and cash flow at enterprise level, and create management commentary to highlight variance with budgeted values
- Provide assurance to senior management that all accounting and reporting activities are in complete compliance to professional accounting and regulatory standards, by maintaining oversight on all financial transactions and timely preparation of regulatory (statutory) reports and ensuring compliance with local / state / government regulations.
- Understand and anticipate changes in accounting standards or relevant laws and build safeguards.
- Manage accounting for all real estate projects, including budgeting, cost tracking, and financial reporting.
- Monitor project expenditures and ensure they are within budget.
- Prepare financial reports for project stakeholders.
- Oversee the preparation & accounting of customer / vendor credit and debit notes/ refunds etc.
- Periodically collaborate with sales and marketing, procurement, CRM and other functions to ensure timely collections, timely disbursals and enhancing overall cash flow
- Oversee and control inventory valuation and continuously monitor inventory transactions.
- Oversee the reconciliation of inventory accounts to the general ledger.
- Oversee inventory ageing & provisioning analysis and derive insights for business and finance.
- Lead all tax planning, forecasting and internal and statutory reporting activities for both direct tax as well as indirect tax.
- Provide guidance to team members in cases of complex transfer pricing matters
- Oversee the timely filing of period-end returns, tax reconciliations and obtaining tax refunds where applicable.
- Ensure compliance to all direct and indirect tax laws and regulations
- Review first level findings of tax assessments and tax audits and provide guidance to team members in framing appropriate responses to authorities and auditors
- Co-represent Trehan Iris in various tax related matters pertaining to direct tax, indirect tax and previous pending assessment of service tax / VAT
- Internal Controls and Audits
- Identify financial accounting risks and contribute towards developing and implementing mitigating strategies and controls.
- Collaborate with the external audit team to ensure compliance with local / state / government reporting requirements and resolve the findings of the audit.
- Evaluate, manage and mitigate risk by ensuring appropriate financial controls are in place.
- Identify, implement and drive adoption of IT systems (FarVision) for digitally enabling and automating finance processes and enhancing internal controls through system-based checks.
- Identify opportunities for enhancing the efficiency, effectiveness and governance of finance processes through process changes and new workflows.
- Responsible for goal setting, periodic performance review, performance appraisal and performance feedback of all team members
- Oversee development of all team members in the accounts & taxation department, including recommendations for promotion and fast track development
- Implement up-skilling and cross-skilling initiatives for finance & accounts employees
- Oversee and control the recording of fixed asset acquisitions and dispositions and create & monitor a system of controls, procedures, and forms for the recordation of fixed assets.
- Investigate the potential obsolescence of fixed assets.
- Oversee periodic impairment reviews for intangible assets and recommend to management whether fixed assets should be disposed of.
- Oversee the calculation of depreciation for all fixed assets and asset retirement obligations.
- Oversee periodic physical counts of fixed assets.
- Oversee the timely renewal of insurance policies at group level, and that the insurance policies are aligned with the needs of the business and its people, at optimum cost.
- Maintain oversight on insurance accounting and reporting, including proper maintenance of ledgers and sub-ledgers.
- Maintain periodic oversight on claims settlement, follow-up, payment of premium.
Qualifications
- The incumbent must have an undergraduate degree in commerce
- Chartered Accountant / CPA for this role shall be preferred
- 15+ years of experience in the field of accounts and taxation, with at least 5 years in middle management
- Previous work experience of real estate industry is mandatory
- Exhaustive knowledge and understanding of Indian accounting standards and taxation laws
- Hands on experience in financial reporting, financial statement preparation, general ledger accounting, book closure activities and direct & indirect taxation is required
- Prior experience in digitalization of finance processes or implementation of new systems is preferrable
