Position Overview
The Head of Accounting will oversee and manage all accounting functions within the factory environment, ensuring financial accuracy, compliance, and efficient financial operations. This role involves managing day-to-day accounting, leading monthly and annual financial closings, preparing financial statements, and analyzing cost controls. The Head of Accounting is a strategic partner for factory management, contributing to financial planning and reporting to optimize costs and improve profitability.
Key Responsibilities
- Financial Management & Reporting
- Oversee all factory accounting operations, including billing, accounts payable, accounts receivable, inventory accounting, and cost accounting.
- Ensure accuracy and compliance in all financial reporting, adhering to local and international accounting standards (e.g., IFRS, GAAP).
- Manage the preparation of financial statements, balance sheets, income statements, and cash flow statements for monthly, quarterly, and annual reports.
- Coordinate the annual financial closing process, including journal entries, reconciliations, and adjustments to ensure an accurate year-end close.
- Budgeting & Cost Control
- Develop, implement, and monitor budgets, providing insights into budget variances.
- Analyze production costs and provide detailed reports to support management in cost optimization.
- Monitor and control factory expenditures, proposing improvements for cost-effectiveness.
- Inventory & Asset Management
- Oversee inventory control processes, including physical counts and reconciliations.
- Maintain accurate records of fixed assets and manage asset depreciation schedules.
- Internal Controls & Compliance
- Establish and maintain strong internal controls, processes, and policies for accurate financial reporting.
- Ensure compliance with financial regulations, corporate policies, and statutory obligations.
- Work closely with auditors during annual audits, preparing necessary documents and facilitating audit requests.
- Financial Analysis & Strategy
- Provide financial analysis and insights to support factory decision-making and long-term financial strategy.
- Collaborate with cross-functional teams, including production and supply chain, to support business growth and profitability goals.
- Prepare ad-hoc financial reports and analysis as required by management.
- Bachelor’s degree in accounting, Finance, or related field; CPA or CMA certification preferred.
- Proven experience in accounting, with 12 years-experienced and 5 in a managerial role in a manufacturing.
- Strong understanding of cost accounting, inventory management, and financial analysis.
- Proficiency with accounting software and ERP systems; experience with SAP is a plus.
- Annual Closing background is a must – he/she will be a main person to execute on this process.
- Strong leadership and team management skills, with the ability to communicate complex financial concepts to non-financial stakeholders.
- Detail-oriented, analytical, and strategic, with the ability to drive process improvements and implement best practices.