General Ledger & Fixed Assets Section Head

Tawteen

Description

• Plan, define and Implement methodologies and procedures in line with the accounting international standards.
• Manage and improves the General Ledger and Fixed Assets Accounting to be in line with the International Financial Reporting Standards.
• Oversee all operations in the section and is responsible for monitoring and managing the OETC s risks in line with overall corporate strategy and section s related responsibilities.
• Assist in preparation of the annual budget and 5 years business plans in accordance with the OETC s overall strategic direction.
• General Ledger Accounting processes through the Oracle Financial Accounting System.
• Timely capitalization of Projects upon completion / energization.
• Handling all general ledger accounting activities and ensures all financial policies and procedures are implemented as per the International Financial Reporting Standards (IFRS) and within the company s framework.
• Comply with the financial policies, systems, International Financial Accounting Standards (IFRS) and processes for accounting and preparation of the financial statements.
• Ensure that all the accounting processes are within the overall framework of the sector accounting policies and procedures.
• Update and prepare the financial accounts for the company by monitoring and following up all the required data for preparation of the financial accounting general ledgers, sub-ledgers, assets ledgers and inventory records.
• Generate and prepare monthly, quarterly, half-yearly and yearly statutory financial statements of the company by ensuring that all the accounts books are closed and completed on the due date and time and must be complied with the International Financial Accounting & Reporting Standards (IAS & IFRS).
• Prepare General Ledger Vouchers for the periodic closing for all accruals and corrections in the General Ledger and posting them into Oracle Financial System.
• Reconciliation of all GL control accounts and ensure accuracy.
• Periodic bank reconciliations for all OETC s bank accounts including Credit Cards.
• Generate financial reports according to the closing schedule.
• Prepare annual regulatory financial statements and ensure its completion and approval by the company s Board of Directors within the legal time frame (30th June) as set by Authority for Electricity Regulation - AER and without any significant audit observations.
• Respond and provide any requested details to Internal Auditors, External Auditors & State Auditors and ensure that no significant audit observations are raised.
• Ensure all Oracle modules / functions are working properly and report any issues to Nama Shared Services Company according to the SLA for sake of control.
• Ensure that Intercompany transactions are recorded properly in Oracle and reconcile on a timely basis.
• Develop accounting processes to reduce manual transactions to maximize efficiency and to reduce errors.
• Provide On-Job Training, couching and mentoring to the GL & FA Section team members.
• Handle any task directed by Financial Operation Manager.
• Update Project Module for the periodic CWIP related to all OETC projects based on Value of Work Done (VOWD) monthly reports.
• Capitalize all purchased assets including completed projects within a particular period.
• Ensure assets depreciations are accounted and updated on a periodic basis.
• Accounting of Disposal of Assets as and when required in line with Accounting Standards IFRS, FDA and Company s Disposal Policy / SOP.
• Ensure capitalization of Interests on running projects during construction as per IFRS IAS23 (Borrowing Cost).
• Inventory reconciliation and update of inventory records in coordination with the Store Section Head.
• Reconciliation of Projects returns (Projects Spares) through Project Module and ensure Projects spares are accounted properly as per Accounting Standards and Strategic Spares Policy.
• Prepare Annual Return Income ARI due on 30th May of every year in coordination with Taxation Consultant.
• Liaise with Taxation Consultant; prepare and provide tax assessments as required by the Tax Authority.
• Monthly review of Withholding Tax related payments and ensure timely submission of Withholding Tax Returns and payments to Oman Tax Authority.
• Ensure proper accounting of Value Added Tax VAT as per Oman Taxation Law.
• Monthly review of Value Added Tax (VAT) related payments and ensure timely submission of VAT (Payment or Refund) to Oman Tax Authority.
• Identify the business need for establishing a process and provide inputs in defining and documenting it; assign accountabilities within the team for managing the process.
• Adhere to internal processes and encourage adherence from team members; recognize the need for modifications to the existing processes and share them with appropriate teams.
• Treat IT security with the utmost importance and adhere to ISO / IMS Standards and aspects on IT security.
• Evaluate subordinate s performance in a fair and transparent manner on a periodic basis.
• Handle difficult employees situations directly, using appropriate discretion, HR advice, and respect for the individual.
• Communicate relevant information to the Financial Controller.
• Ensure that subordinates deliver accurate works / outputs.
• Recommend training workshops for subordinates.
• Perform on-the-job training, coaching, and mentoring of the team members.
• Assists on daily basis his subordinates in performing their tasks and duties and coordinates with the Financial Controller in regard to Department activities.
• Knowledge and Understanding of the Asset Management, QHSE Management System and IT Security Standard Requirements according to Integrated Management System (IMS), ISO 55001, ISO 14001, OHSAS 18001 and ISO 27001 to carry out the assigned duties as per the roles and responsibilities matrix.