Accountant Required in Bahrain

An Accountant is responsible for managing and overseeing the financial records of an organization. This role involves maintaining accurate and timely financial information, preparing reports, and ensuring compliance with legal regulations. Accountants handle day-to-day financial operations such as recording transactions, reconciling accounts, and preparing budgets. They also play a crucial role in financial planning, analysis, and advising management on fiscal matters to support informed decision-making. Accountants must possess strong analytical skills, attention to detail, and a solid understanding of accounting principles and financial software.

Salary	Market Competitive
Experience	3 – 8 Years
Location	Bahrain
Qualification	Any Graduation, MBA/PG Diploma in Business Mgmt(Finance)
Posted	25 September 2024
Job Type	Full-Time
Posted by	Habeebi Recruiter
last date to apply	apply within 15 days

Responsibilities

1. Financial Recordkeeping

One of the primary responsibilities of an Accountant is maintaining accurate and comprehensive financial records. This involves recording all financial transactions, including sales, purchases, receipts, and payments, into appropriate accounting systems. The Accountant ensures that every transaction is properly documented and categorized, helping to maintain transparency and accuracy in financial reporting. This meticulous recordkeeping forms the foundation for all other financial processes within the organization.

2. Preparation of Financial Statements

Accountants are responsible for preparing key financial statements, such as income statements, balance sheets, and cash flow statements. These documents provide a detailed overview of the organization’s financial health, including profitability, assets, liabilities, and cash flow. Accountants ensure that these statements are prepared in accordance with accounting standards and regulations, enabling stakeholders to assess the financial performance of the organization. Financial statements are also used to comply with tax requirements and inform strategic decision-making.

3. Account Reconciliation

A critical task for Accountants is reconciling financial accounts, such as bank statements, to ensure consistency between the organization’s financial records and external sources. This process involves comparing the internal financial records with bank statements and other financial documents to identify and resolve discrepancies. Regular reconciliation helps to prevent errors, detect fraud, and ensure that the organization’s financial data is accurate and up to date.

4. Budgeting and Financial Forecasting

Accountants play an essential role in the budgeting process, working closely with management to develop realistic financial budgets for various departments and projects. They analyze historical financial data to create forecasts, helping the organization plan for future revenue and expenses. Accountants monitor budget performance throughout the fiscal year, identifying variances and providing recommendations to keep spending within budgetary limits. This proactive management of the budget ensures that the organization remains financially stable and well-prepared for future needs.

5. Tax Compliance and Reporting

Ensuring compliance with tax laws is a major responsibility for an Accountant. They prepare and file tax returns, ensuring that the organization meets all local, state, and federal tax obligations. Accountants stay up to date with changes in tax regulations to ensure that the organization takes advantage of available deductions and avoids penalties. Additionally, they provide advice on tax planning strategies that can minimize the organization’s tax burden and improve overall financial efficiency.

6. Audit Preparation and Support

Accountants are often involved in preparing for internal and external audits by organizing financial records, providing documentation, and responding to auditor inquiries. They ensure that all financial processes and records are audit-ready and comply with legal and regulatory standards. During the audit process, the Accountant works closely with auditors to ensure transparency and address any findings or discrepancies. This role is critical in maintaining the organization’s financial integrity and ensuring compliance with accounting standards.

7. Cost Analysis and Financial Reporting

Beyond routine financial reporting, Accountants perform detailed cost analysis to help the organization make data-driven decisions. This involves examining expenses related to operations, projects, and departments to identify areas where costs can be reduced or optimized. Accountants prepare financial reports and analysis for management, providing insights into financial performance, profitability, and efficiency. These reports are essential for strategic planning and improving the organization’s financial management practices.

8. Internal Controls and Risk Management

Accountants are responsible for establishing and maintaining internal financial controls to safeguard the organization’s assets and prevent fraud or financial mismanagement. They implement procedures for handling cash, conducting financial transactions, and approving expenditures to minimize risk. Regular review and monitoring of these controls help ensure the financial stability and integrity of the organization. Accountants also assess potential financial risks and provide recommendations for mitigating those risks.

9. Collaboration with Other Departments

While Accountants primarily focus on financial operations, they collaborate with various departments across the organization to ensure financial processes align with overall business objectives. This includes providing financial support and analysis to department heads, project managers, and executives to aid in decision-making. Accountants also work with procurement, HR, and sales teams to manage payroll, supplier payments, and customer billing, ensuring seamless financial coordination across the organization.

Qualifications

• Bachelor’s degree in accounting, finance, or a related field.
• Certification as a Certified Public Accountant (CPA) or equivalent is preferred.
• Proficiency in accounting software and financial management tools (e.g., QuickBooks, SAP).
• Strong understanding of accounting principles (GAAP or IFRS) and financial reporting.
• Excellent analytical, organizational, and problem-solving skills.
• Attention to detail and high level of accuracy in financial recordkeeping.
• Strong communication skills to collaborate effectively with various departments.
• Ability to manage multiple tasks and meet deadlines in a fast-paced environment.

The role of an Accountant is essential to the financial health and stability of an organization. Through precise recordkeeping, financial analysis, and compliance with regulations, they ensure that the organization maintains transparency, efficiency, and profitability. Their ability to work with various stakeholders and provide key financial insights supports informed decision-making and long-term business success.

How to apply:

Send your updated resume to our email or directly reach us at our phone:

Email:   info@tails.co

Telephone:   +973-77113334