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JOB DESCRIPTION

Job Purpose

Responsible for maintaining the IFCA accounting system, preparation of financial statements for the Company in a timely and accurate manner in compliance with the Malaysian Financial Reporting Standards (MFRs), Malaysian Companies Act, Group Accounting Policies and Procedures (GAPP) and Housing Development Act. Prepare and ensure tax compliance is in line with the Income Tax Act and Public ruling.

Key Accountabilities

·  Monthly closing of Management Account and Group Reporting

o  Prepare monthly management accounts, ensure the statement of cash flow is prepared in a timely manner for submission to the Group Accounts for consolidation.

o  Prepare building maintenance account prior to the handover of completed properties to the Joint Management Body. Ensure journal entries are correctly posted and the statement of cash flow is prepared on a timely basis.

o  Prepare monthly journals to ensure accounting entries are correctly and completely taken up for month-end closing.

·  Accounting for Property Development Activities

o  Ensure that project cost consisting of land, infrastructure and building cost and other project related costs are accounted for accurately in accordance with the development plan.

o  Ensure that the allocation of costs is consistent and in accordance with Financial Reporting Standards and the splitting of costs through the creation of WBS in the accounting system is sufficient to meet GST requirements.

o  Ensure the revenue and cost of sales for each project is recognized in a timely manner and in accordance with the MFRs.

·  Accounting for CAPEX

o  Ensure the recognition and de-recognition of CAPEX is recorded and project in progress is properly managed in the system. Ensure that the asset registered is properly maintained to safeguard the company’s asset.

·  Reconciliation – Sub Ledger to GL

o  Review the reconciliation for control accounts (example: Receivables, Payables and Property Development Account) and ensure the sub-ledger balance always tallies with GL.

·  Reconciliation – Inter-Company Balances

o  Ensure related-parties s and inter-company balances within the Group of Companies always tally

o  Prepare disclosure for related parties' transactions and inter-company balances for Parent Group of Companies.

·  Accounting System (Continuous System Improvement and Enhancement)

o  Identify system flaws and recommend system improvement and enhancement

o  Perform system testing, data validation and reconciliation during UAT

o  Ensure system is run smoothly and good internal control is in place at post implementation stage (system enhancement)

·  Annual Audit

o  Prepare and finalize audited financial statements on a timely basis and to ensure the accounts are always prepared in compliance with the approved accounting standards and Parent Company’s pro forma account.

o  Prepare and submit audit schedules to facilitate the auditors to conduct an audit in a more effective manner.

o  Prepare deferred tax computation and provisional tax computation in order to close the year-end management accounts.

o  Submit pre-final audited financial statement for auditors’ comments and management’s approval.

Requirements

·  Degree in Accountancy

·  Preferably with Professional Qualification in Accounting (Member of MIA)

·  More than 5 years of working experience in Property Development / Construction companies

·  Able to prepare the full set of management accounts

·  Able to handle company’s income tax computation

·  Audit background in financial accounting is an added advantage

·  Knowledge in Malaysian Financial Reporting Standards & Tax regulations

·  Experienced in handling the IFCA system