A Senior Accountant is responsible for managing and overseeing the daily accounting activities of an organization, ensuring accuracy, compliance, and efficiency in financial operations. This role involves preparing financial reports, reconciling accounts, supervising junior accounting staff, and supporting the finance department in strategic decision-making processes. The Senior Accountant plays a crucial role in ensuring that the company’s financial records are accurate, up-to-date, and compliant with regulatory standards. With a deep understanding of accounting principles, the Senior Accountant works to maintain the integrity of financial processes and support business growth.
| Salary | Market Competitive |
| Experience | 4 – 5 years |
| Location | Oman |
| Qualification | Bachelor of Commerce(Commerce) |
| Posted | 23 September 2024 |
| Job Type | Full-Time |
| Posted by | Habeebi Recruiter |
| last date to apply | apply within 15 days of posting |
Key Responsibilities
Managing General Ledger and Financial Reporting:
The Senior Accountant is responsible for maintaining the accuracy of the general ledger, ensuring that all financial transactions are recorded correctly and on time. This includes journal entries, accruals, and adjustments. The Senior Accountant also prepares monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow reports. These financial reports provide management with the necessary insights to make informed business decisions. Regular reconciliation of accounts, such as bank accounts, payables, and receivables, is also a crucial task to ensure data accuracy and completeness.
Overseeing Accounts Payable and Receivable:
A key function of the Senior Accountant is to manage the accounts payable (AP) and accounts receivable (AR) processes. This involves ensuring that all invoices are processed accurately and on time, monitoring payment schedules, and maintaining good relationships with vendors and customers. The Senior Accountant also ensures that payments are received according to agreed terms, and handles any discrepancies or disputes that may arise in the billing or payment process. Efficient management of AP and AR is essential for maintaining healthy cash flow.
Budgeting and Forecasting:
The Senior Accountant plays a vital role in the budgeting and forecasting processes. They work closely with the finance and management teams to develop realistic financial forecasts based on historical data, market trends, and business objectives. The Senior Accountant is responsible for tracking actual performance against the budget and identifying any variances that may occur. They provide detailed analysis and recommendations to management on how to address discrepancies, optimize spending, and achieve financial goals.
Ensuring Compliance with Accounting Standards and Regulations:
The Senior Accountant ensures that all financial activities and reports comply with local, national, and international accounting standards, such as IFRS or GAAP. They stay updated on changes in tax laws, regulations, and accounting practices to ensure that the company remains compliant. This involves preparing and filing tax returns, ensuring that the company meets its tax obligations, and assisting with audits conducted by external auditors. By adhering to regulatory standards, the Senior Accountant helps the organization avoid penalties and maintain a good standing with authorities.
Leading and Mentoring Junior Accounting Staff:
A significant part of the Senior Accountant’s role is to supervise and mentor junior accounting staff, ensuring that they are well-trained and performing their duties efficiently. This includes assigning tasks, reviewing their work, providing guidance on complex accounting issues, and fostering a collaborative team environment. By leading the accounting team effectively, the Senior Accountant helps to ensure that the department runs smoothly and that high standards of accuracy and professionalism are maintained.
Conducting Financial Analysis:
In addition to regular accounting tasks, the Senior Accountant is responsible for conducting financial analysis to help the company make informed decisions. This includes analyzing financial data to identify trends, risks, and opportunities. The Senior Accountant provides insights into cost-saving opportunities, investment options, and potential financial challenges that the company may face. Their analysis helps management to make strategic decisions that support the company’s financial health and long-term growth.
Supporting External Audits:
The Senior Accountant is a key point of contact during external audits. They prepare and provide all necessary financial documentation, respond to auditor inquiries, and ensure that the audit process runs smoothly. By maintaining accurate records and adhering to accounting standards, the Senior Accountant helps ensure that audits are completed successfully, with minimal issues or discrepancies. Their involvement in the audit process is crucial for maintaining transparency and accountability within the organization.
Qualifications
- Bachelor’s degree in Accounting, Finance, or a related field.
- Professional certification such as CPA (Certified Public Accountant) or ACCA (Association of Chartered Certified Accountants) is preferred.
- Proven experience in accounting, with a focus on financial reporting, general ledger management, and budgeting.
- Strong knowledge of accounting principles (GAAP/IFRS) and financial regulations.
- Proficiency in accounting software (e.g., QuickBooks, SAP, or Oracle) and MS Excel.
- Excellent analytical and problem-solving skills, with a high attention to detail.
- Strong organizational and time-management skills, with the ability to prioritize tasks and meet deadlines.
- Effective communication and leadership abilities, with experience mentoring junior staff.
- Ability to work independently and as part of a team.
- Experience with tax preparation and external audits is an advantage.
The Senior Accountant’s role is critical in ensuring the financial integrity of the company. By managing financial operations, preparing accurate reports, and supporting strategic financial planning, the Senior Accountant helps the organization achieve its financial objectives while maintaining compliance with accounting standards and regulations.
How to apply:
Send your updated resume to our email or directly reach us at our phone:
Email: info@business-umbrella.com
Telephone: +00971554426831