Accounts Head

Financial Statement Preparation: The financial statements (Income Statement, Balance Sheet, and Cash Flow Statement) are prepared based on the adjusted figures. These statements provide a snapshot of the company's financial health at the end of the reporting period.

Financial closure" in the context of accounting typically refers to the process of finalizing financial statements and ensuring that all financial transactions for a specific accounting period are accurately recorded and reported. This is a critical step in the accounting cycle and is often associated with the end of a fiscal year or reporting period. The specific tasks and responsibilities involved in financial closure may vary depending on the organization and its accounting practices, but here are some common elements:

Review of Financial Records: The accounting team reviews all financial records, including income statements, balance sheets, cash flow statements, and other financial documents, to ensure accuracy and completeness.

Accruals and Adjustments: Any necessary accruals or adjustments are made to the financial statements to reflect revenue and expenses that may not have been recorded at the time of the original transaction. This includes adjusting for items like prepaid expenses or accrued liabilities.

Reconciliation: Bank and other account reconciliations are performed to ensure that the company's records match external records, such as bank statements. Any discrepancies are investigated and resolved.

Depreciation and Amortization: The accounting team calculates and records depreciation and amortization expenses for the period, ensuring that the asset values on the balance sheet are accurately represented.

Closing Entries: Temporary accounts, such as revenue and expense accounts, are closed to the retained earnings account to prepare for the new accounting period. This is often done through journal entries.

Financial Statement Preparation: The financial statements (Income Statement, Balance Sheet, and Cash Flow Statement) are prepared based on the adjusted figures. These statements provide a snapshot of the company's financial health at the end of the reporting period.

External Audit: In some cases, external auditors may be involved to review and validate the financial statements for accuracy and compliance with accounting standards.

Tax Compliance: Depending on the jurisdiction, there may be tax-related tasks, such as calculating income tax provisions, preparing tax returns, and ensuring compliance with tax regulations.

Disclosure and Reporting: If the company is publicly traded, there may be additional disclosure and reporting requirements, such as filing quarterly or annual reports with regulatory authorities like the Securities and Exchange Commission (SEC).

Financial Analysis: The finance and accounting team may perform an analysis of the financial statements to identify trends, financial ratios, and key performance indicators to assess the company's financial health.

Archiving and Documentation: All financial records and documents related to the closing process are typically archived and retained for a specified period to comply with legal and regulatory requirements.

Financial closure is a critical step in the accounting process, as it provides a clear picture of the company's financial performance and position at a specific point in time. It's also important for meeting regulatory and compliance requirements, as well as for making informed financial decisions.

Leadership and team Handling: Must have Prior Experience in Leadership role and can handle the team of 10+ Indians/Africans.

Qualification : -
CA inter at least 10 years of Experience or CA at least 8 years of Exp
B.com/M.com also considerable if deserving for the post
Experience in trading firm/ import-export houses.
Strategic thinking and problem-solving skills
Experience in managing a sales team
Advanced Proficiency in MS Office and CRM software.

Min. Experience. 8
Max. Experience. 15

Location of posting : - Angola Africa

Candidates Location : - Anywhere in India or Africa