Gl Accountant

Responsible for general ledger accounting and making all necessary actions to ensure the closing is complete within the first week of the subsequent month.
MAIN DUTIES:

• Preparing general ledger entries in the same month and in an accurate manner to ensure that the financial data in the system is up to date.
• Maintaining schedules for all relevant accounts, including prepayments, revenue recognition, provisions, and accruals.
• Assist in preparing the financial reports and data required by the management, auditors and regulators.
• Allocate depreciations, utilities, medical insurances, revenues, and other allocations, such as academic to admin allocations, to the dimensions per the agreed cost or revenue drivers.
• Reconciliation of HR-related accounts, including the employee clearing account and loan account and entering any missing or incomplete transactions accordingly.
• Recording the monthly transactions related to the endowment income, returns from wakala deposits, rental revenue from leased premises, and MFDS income.
• Recording transactions, reconciliation and follow-up connected to the related parties such as the University of Science and Technology of Fujairah (USTF).
• Assisting the inventory, fixed assets, Accounts payable, and payment functions.
• Take part in collection and student services whenever required, like during the peak periods like registrations and examinations.
  

KNOWLEDGE & SKILLS:

• IFRS-based Accounting
• MS Office (Excel, Word, and Outlook)
• Good Knowledge of Microsoft Dynamics
• Accountability and Responsibility
• Timeliness and Accuracy
• Analytical Skills
• Teamwork
• Written and verbal communication skills

1. Accounting Knowledge

• Understanding of Accounting Principles: A solid foundation in Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), depending on the region.
• Journal Entries: Ability to record journal entries accurately, ensuring proper debits and credits are applied to the right accounts.
• Reconciliations: Experience in performing reconciliations of general ledger accounts, such as bank accounts, accounts payable, accounts receivable, and other balance sheet accounts.

2. Attention to Detail

• Accuracy in Recording: Ensuring that all financial transactions, including accruals, adjustments, and closing entries, are correctly documented and comply with financial policies.
• Error Detection: Identifying discrepancies and errors in financial data and rectifying them promptly.

3. Financial Reporting

• Preparation of Financial Statements: Preparing accurate monthly, quarterly, and annual financial statements, including the balance sheet, income statement, and cash flow statement.
• Month-End and Year-End Closing: Managing the month-end and year-end closing process, ensuring that all transactions are recorded in the proper period and that financial reports are timely and accurate.
• Variance Analysis: Performing variance analysis to compare actual performance against budgeted figures or forecasts, and providing explanations for discrepancies.

4. Technical Skills

• Accounting Software: Proficiency in using accounting software and ERP systems such as SAP, Oracle, QuickBooks, or Microsoft Dynamics to process and manage financial data.
• Excel Skills: Advanced Excel skills, including the use of formulas, pivot tables, and data analysis tools, are essential for managing large volumes of data and preparing reports.
• Data Entry: Efficient and accurate data entry skills to record transactions and manage financial information.

5. Reconciliation Skills

• Account Reconciliation: Reconciling various accounts, such as intercompany transactions, bank accounts, and payroll, to ensure the balances are accurate and complete.
• Timeliness: Completing reconciliations and month-end close processes in a timely manner, ensuring reports are ready for review within deadlines.

6. Compliance and Regulatory Knowledge

• Tax Compliance: Understanding of tax-related regulations and ensuring proper accounting for taxes, such as sales tax, VAT, and income tax, and ensuring timely payments and filings.
• Audit Preparation: Preparing documents and schedules for internal and external audits, and working with auditors to ensure compliance with financial reporting standards.
• Internal Controls: Ensuring that adequate internal controls are in place to safeguard financial data and prevent fraud.