Head of Accounts

About the Group

We are a diversified business group operating in wholesale trade, import and export, alongside the hospitality, tourism, and industrial sectors. The group comprises four subsidiaries in trade, several hotel establishments, and a factory, and we aim to attract skilled professionals who contribute to the development of our business and achieve sustainable growth.

Job Objective

To lead and manage accounting operations and daily financial activities, ensuring the accuracy and integrity of records, reports, and financial statements, and preparing consolidated financial statements for the company and its subsidiaries or branches, while developing an effective costing system and analyzing profitability to support management in making sound financial and operational decisions.

Responsibilities and Duties

• Direct supervision of the accounting team, task distribution, and reviewing the quality of financial outputs while ensuring compliance with specified deadlines.

• Manage the complete accounting cycle; from recording daily entries and reviewing documentation to preparing monthly and annual financial statements and closures.

• Review general ledgers, client and supplier accounts, bank accounts, contracts, loans, inventory, and fixed assets, and address discrepancies and variances.

• Prepare and review periodic and annual financial statements in accordance with accounting standards and established financial policies.

• Prepare consolidated financial statements for the company and its subsidiaries and branches.

• Execute intercompany transactions, including assets, sales, purchases, expenses, and unrealized profits.

• Prepare consolidation files and necessary adjustments, coordinating with management and subsidiaries to obtain timely financial data.

• Develop and implement a costing system that aligns with the nature of the company's activities, including designing templates for direct and indirect costs, fixed and variable costs.

• Identify and track costs for production centers and services, ensuring accurate allocation and distribution based on fair and consistent bases.

• Prepare product or service cost reports and analyze profit margins based on activity, branch, or client needs.

• Monitor and analyze cost variances between standard and actual costs, identifying reasons and recommending corrective actions.

• Propose actionable solutions to minimize waste and control expenses while improving expenditure efficiency and profit margins.

• Prepare periodic financial and administrative reports for senior management, including financial performance, liquidity, costs, variances, and risks.

• Coordinate with external auditors and relevant parties, preparing supporting documents and schedules for audit and review processes.

• Ensure compliance with financial regulations and tax laws, monitoring entitlements and approvals within regulatory timelines.

• Develop internal financial policies, procedures, and controls, addressing potential weaknesses affecting data integrity or asset safety.

• Participate in preparing annual budgets and financial forecasts, monitoring actual performance against the approved budget.

• Execute any other tasks related to the position as assigned by the financial manager or senior management.