1 – OBJECTIVES
• Manage the day to day operation of the accounting department and its associated functions of all of De Heus Myanmar Operation.
• Overall Responsibility for costing, pricing, assets accounting, and financial management and disbursement including training in this fields and internal financial regulations of De Heus Myanmar Ltd.
2 – REPORTING LINE
• Payable Accountants
• Stock Accountants
• Sale Accountant
• Weighing staff
• Chief Accountant
3 – GOAL
• Success in developing structure of Finance Department
• Success in leadership in budget and forecast preparation for all entities.
• Success in prepare all required intra-company reporting, month-end and year-end closing.
• Success in developing and executing the financial strategy to achieve operating budget targets
• Success in implementation of effective financial controls and risk management
• Success in creating financial procedures and daily financial management.
4 – TASKS AND RESPONSIBILITIES
• Key in data for Accounting notes and expenses.
• Monitor for Account Payable.
• Data key in system for Monthly-
o Salemen Bonus
o Salemen Expenses
o Personal Income Tax
• Check Monthly Employee Advance payment amount.
• Check Monthly Prepaid Expenses.
• Check Monthly Trial Closing
• Check and Reconcile monthly Intercompany Bank in transit for:
o OCBC MMK
o OCBC USD
o OCBC Euro
o KBZ MMK
o AYA MMK
o YOMA MMK
o HO Cash
o MDY Cash
o NTL Cash
o TT Cash
o TG Cash
• Check and Key in data for MDY Project Cost
• Prepare Fixed assets payment and List in Excel.
• Calculate monthly Depreciation in System.
• Check and Reconcile WHT collect amount and payment amount to government
• Prepare workings in Excel for all activities to provide for management Audit
• Prepare Quaterly Report for MIC.
- Organize audit
- Communicate with auditing firm to set up annual audit
- Corporate with auditors' request
- Check/apply auditors advise in ERP system.
- Acquire any legal document needed as advised by auditors
- Close trade period every month
- Check trade period report
- Close trade period monthly"
- Confirm GL transaction
- Move GL transaction from budget to actual
- Close accounting period
- Check all transactions for correctness
- Close accounting period for financial year
- Clear and consolidate AP account
- Check AP account at month-end & year-end
- Clear AP accounts if needed
- Internal transfer value is recorded correctly
- All WMRs+/- are posted to correct account with correct value
- Ending Goods in transit is correct
- Control inventory accounts
- Make sure ending inventory accounts are correct according with warehouse report
- Create and control correction document
- Create and check all correction document of IR+/-, PORC, SORC
- Re-evaluation of exchange rate
- Calculate exchange rate re-evaluation
- Post into GL
- COGS price
- Value of IR+, IR- is correct
- IR- is posted to correct account (bagged product, bulk product, re- work)
- Checking for POR price & PI value
- PORs price are correct
- Communicate with relating department to fix RM price if there are errors
- Create correction documents if needed (PORC, PIC)
- Check COGS and inventory accounts"
- Accrued expenses / Prepaid expenses
- Record any accrued expenses.
- Keep track of accrued expenses.
- Consolidate accrued account at the end of the month."
- Check/keep track of salary expenses
- Post salary expenses
- Accrued for bonus. Check and clear accrued salary at month-end, year-end.
- Support HR for salary, PIT, insurance … calculation"
- Calculate sales bonus
- Update sales bonus policy
- Calculate monthly bonus
- Communicate with salesmen for sales bonus
- Check all expense transactions in ERP system
- Check if all expenses are record before month close; focus on major monthly expenses.
- Check if analytical descriptions are filled correctly
- Check if transactions are posted to correct account"
- Control expenses as budget
- Check if some specific expenses are over budget (for some specific type of expense) --> will be defined clearer later on.
- Send notification to relating department heads before making payment
- Check term, conditions and payment for assets, machinery, equipment’s purchasing contracts
- Check contract details including: payment term, price, taxes, payment conditions, penalty …
- Working with legal advisor for terms
- Ask for contract revise if needed."
- Contract payments
- Record payment in ERP system before making payment as AN
- If contract has multiple payments, create multiple lines in the AN
- Record fixed assets in ERP system
- Move from CIP to fixed assets account when appropriate
- Record in fixed asset module
- Set up for depreciation
- Adjustment of fixed assets
- Record any adjustment of fixed assets in both accounting module and fixed asset module
- Generate monthly depreciation
- Generate monthly depreciation
- Check and fix errors if occurs"
- Liquidating of fixed assets
- Enter liquidation document in Accounting module and Fixed assets module
- Create necessary adjustment notes
- Update and check on payment procedures
- Update payment procedure if needed
- Check for procedure implementation
- Check for confirmation of all intakes
- All POR/PORIs are confirmed
- No un-generated VT in the system for intake
- WMR+/- are confirmed"
- Checking for generation of JO, IR+, IR-
- All JO are closed
- All IR+ are confirmed and fixed cost
- All IR- are confirmed and fixed cost
- Organize stock count day
- Contact with other department to organize stock count day
- Identify risky area to focus on stock count day
- Stock adjustment
- Communicate with production department for stock adjustment.
- Investigate the critical differences
- Create stock adjustment in the system
- Check/record commercial taxes and other taxes
- Check any issue relating to commercial taxes and other taxes
- Take necessary action to solve any future issues."
- Action for legal documents
- Prepare/follow up on any legal document relating to accounting, taxes, license…"
- Prepare quarterly MIC report
- Prepare quarterly report for MIC