Sales Revenue & Receivables Management
- Establish and enforce revenue recognition policies in line with IFRS or local GAAP
- Oversee sales invoices, collection, and daily reconciliation of sales proceeds with bank deposits and cash collections
- Review Accounts Receivable (AR) aging reports (0-30, 31-60, 61-90, 90+ days)
- Lead monthly AR review meetings with Sales Department to follow up on overdue accounts
- Calculate and monitor Days Sales Outstanding (DSO) as a key performance metric
- Approve bad debt provisions and write-offs per company policy
Procurement & Payables Management
- Establish procurement-to-payment (P2P) cycle controls
- Review and approve supplier payment batches based on agreed payment terms
- Ensure three-way matching of Purchase Order (PO), Goods Received Note (GRN), and Supplier Invoice
- Maintain and review Accounts Payable (AP) aging and payment schedules
- Calculate and monitor Days Payable Outstanding (DPO)
Cash & Treasury Management
- Prepare and maintain daily cash position reports and weekly/monthly cash flow forecasts
- Ensure segregation of duties between cash handling, recording, and reconciliation
- Review and approve all bank reconciliations
- Manage bank relationships including account openings, signatories, and facility negotiations
- Authorize electronic fund transfers (EFTs) and check issuances within approved limits
General Accounting & Chart of Accounts
- Maintain and periodically review the Chart of Accounts (COA)
- Oversee month-end closing process with a defined closing calendar
- Review journal entries including accruals, prepayments, depreciation, and provisions
- Maintain fixed assets register with depreciation calculations
- Review trial balance for accuracy and completeness
Inventory & Cost of Goods Sold (COGS) Accounting
- Establish inventory valuation policy (FIFO,LIFO, weighted average, or specific identification)
- Ensure accurate recording of stock-in (raw materials, finished goods) and stock-out (sales, transfers)
- Calculate and review Cost of Goods Sold (CGS) monthly using formula: Opening Inventory + Purchases - Closing Inventory
- Coordinate with Stores/Warehouse for periodic physical stock counts
- Reconcile financial inventory value with physical stock count and investigate variances
- Calculate inventory turnover ratio and days of inventory on hand
Financial Reporting & Management Information
- Prepare and present to CEO/Board monthly Income Statement (P&L) with budget vs. actual variance analysis
- Prepare and present Balance Sheet with supporting schedules
- Prepare and present Cash Flow Statement (direct or indirect method)
- Prepare management dashboards with key financial KPIs (gross profit margin, net profit margin, current ratio, quick ratio, working capital)
- Prepare quarterly and annual financial statements
- Provide ad-hoc financial analysis for decision-making (pricing, supplier selection, discount impact)
Budgeting, Forecasting & Cost Control
- Lead annual budgeting process in coordination with all departments
- Consolidate departmental budgets into master budget (P&L, Balance Sheet, Cash Flow)
- Prepare monthly budget vs. actual variance reports with explanations for variances
- Prepare rolling forecasts (quarterly) to reflect changing business conditions
- Establish cost approval authority matrix
Taxation & Statutory Compliance
- Ensure timely and accurate calculation of Corporate Income Tax (CIT), Sales Tax/VAT, Withholding Tax (WHT), and customs duties on imported raw materials
- Prepare and review tax returns before submission to tax authorities
- Maintain tax payment schedules and ensure payments before deadlines
- Manage tax audits and provide required documentation
Internal Controls, Risk Management & Audit
- Develop, document, and implement Standard Operating Procedures (SOPs) for all financial processes
- Establish segregation of duties matrix and approval limits
- Conduct periodic internal control testing (surprise cash counts, spot checks)
- Identify financial risks (liquidity risk, credit risk, currency risk, fraud risk) and develop mitigation plans
- Act as primary point of contact for external auditors
- Implement audit recommendations and track corrective actions
Team Supervision & Capacity Development
- Assign tasks to finance team members and review work outputs
- Conduct monthly one-on-one meetings with direct reports
- Prepare and deliver annual performance appraisals for finance team
- Identify training needs and arrange technical capacity building
