Accountant

Description:

Financial Record Keeping (Bookkeeping)

· Bookkeeping & General Ledger: Accurately record all daily financial transactions (sales, purchases, expenses, fixed assets) into the General Ledger (GL).

· Accounts Payable (AP): Process vendor invoices, manage payment runs, reconcile supplier statements, and ensure timely and accurate disbursements.

· Accounts Receivable (AR): Generate and issue customer invoices, monitor outstanding debts, perform collections, and reconcile customer statements.

· Bank and GL Reconciliation: Perform daily/weekly reconciliation of bank statements, cash accounts, and all major GL accounts to ensure data integrity.

· Inventory/Cost Accounting (if applicable): Maintain accurate records of inventory movement, calculate Cost of Goods Sold (COGS), and track production costs.

Financial Reporting and Analysis

· Month-End/Year-End Close: Execute all necessary steps to finalize accounting periods, including preparing and posting accruals, prepayments, and adjusting entries.

· Financial Statement Preparation: Prepare the core financial statements in compliance with International Financial Reporting Standards (IFRS), including:

· Statement of Financial Position (Balance Sheet)

· Statement of Comprehensive Income (Profit & Loss)

· Statement of Cash Flows

· Budgeting & Variance Analysis: Assist in the preparation of annual budgets and forecasts, and analyze monthly financial results against budget (variance analysis) to identify issues and opportunities.

· Management Reporting: Generate periodic reports (e.g., aging reports, profitability by department/project) to provide management with actionable financial insights.

UAE Tax and Regulatory Compliance

The introduction of Corporate Tax and the existence of VAT have made compliance a major focus for all accountants in the UAE.

• Value Added Tax (VAT):
• Ensure proper VAT treatment is applied to all sales and purchases.
• Prepare and file monthly/quarterly VAT returns with the Federal Tax Authority (FTA) accurately and on time.
• Maintain all necessary tax records and documentation for VAT audits (typically seven years).