Chief Accountant

1 week ago

Riyadh, Saudi Arabia Foodzway Trading Co. Full time

**Accountabilities**

**Financial Reporting & Analysis**
- Ensure accurate and timely preparation of financial statements, including income statements, balance sheets, and cash flow statements.
- Present financial reports to the Finance Manager.
- Provide financial analysis and insights to support strategic decision-making.
- Analyze financial trends, costs, and revenues to identify areas for improvement.

**Supervision and Leadership**
- Oversee and manage the accounting team, providing leadership, guidance, and training.
- Delegate tasks and responsibilities to ensure efficient workflow.
- For day-to-day finance and accounts operations.
- Oversee the reconciliation of various accounts, including bank accounts, to ensure accuracy and completeness for audits.
- Address any discrepancies promptly and proactively.
- Follow up on overdue payments and manage collections.

**Collaboration**
- Collaborate with other departments, such as sales, operations, and human resources, to gather and analyze financial information.

**Payroll Processing**
- Process payroll transactions and ensure accurate and timely payment to employees.

**Cost Controll**
- Conduct detailed cost analyses to identify drivers and potential savings.
- Lead the development of annual budgets, monitoring and analyzing variances.
- Implement systems to monitor and control expenses, ensuring adherence to budgets.
- Identify opportunities for process improvements to enhance cost efficiencies.
- Generate regular cost reports, provide insights into cost trends, and collaborate with departments to optimize costs.

**Inventory**
- Update inventory records in the accounting system to reflect the quantities and values of items on hand after the physical count.
- Make adjustments to correct discrepancies between the physical count and the recorded inventory levels.
- Calculate the cost of goods sold for the month based on the changes in inventory levels.
- Prepare and include the updated inventory values in financial statements, such as the balance sheet.
- Reconcile inventory records with other financial accounts to ensure consistency in financial reporting.
- Identify and evaluate obsolete or slow-moving inventory items. Make necessary adjustments to reflect their realizable value.
- Analyze inventory turnover rates and assess the efficiency of inventory management.
- Ensure compliance with accounting standards and regulations related to inventory valuation.

**VAT**
- Stay up to date with the latest relevant tax legislative changes and support prepare the organization for implementation of changes in tax.
- Oversee the development of tax impact assessment, transaction flows analysis and systems updates and Implementation support.
- Prepare accurately the monthly withholding TAX and Value added TAX.

**Audit Support**
- Monitor and ensure compliance with accounting standards, regulatory requirements, and company policies.
- Stay informed about changes in accounting regulations that may impact audit processes.
- Lead the preparation of financial information and documentation required for audits.
- Organize and maintain comprehensive financial records and supporting documentation for audit purposes.
- Ensure timely and accurate submission of all necessary materials to external auditors.
- Identify and resolve issues or discrepancies raised during the audit process.

**Qualifications, Experience, Knowledge**:

- Bachelor’s degree in finance or accounting.
- 7-14 years’ experience in the same field.
- Perfect Communication & Presentation skills.
- Strategic thinking, Business intelligence, & result oriented personality.

**Skills**:

- Accounting
- Bank Reconciliation
- Budgeting
- Communication
- Finance
- Financial Reporting
- International Financial Reporting Standards (IFRS)
- Presentation Skills
- SAP ERP
- Reporting
- Reporting Requirements
- Microsoft Office.

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