Financial reporting and analysis
- Complete monthly P&L and Balance sheet reports under US GAAP within monthly close timetable deadlines.
- Resolve issues and unreconciling items in the accounts within the timeframe given in the company policy.
- Identify discrepancies between GL and sub-modules in PeopleSoft and liaise with the Systems team and AP Hub to have these resolved.
- Provide explanations on key variance fluctuations.
- Submit monthly pack of balance sheet reconciliations in accordance with company policy.
- Prepare monthly reconciliations for local GAAP adjustments or alternate account balances.
- Prepare financial report on a quarterly basis for the country manger meeting.
- Ensure compliance of internal control policies in respect to local office activities.
- Assist internal audit team during internal audits.
- Advise manager of any change/breach to controls in the procedure manuals.
- Update on a regular basis SOX control documentation to reflect the local office activities.
- Act as first point of contact for any financial issues that arise locally and resolve or redirect/elevate as appropriate.
- Advise finance hubs or specialist teams if any issues arise that may impact their areas.
- Provide recommendations on improvements to operations (efficiency, system or control based).
- Advise systems teams of any changes to chart of accounts structure or local statutory related requirements that impact the financial systems.
Billing and Accounts receivable
- Issue commercial and PRC tax invoices to customers and maintain PRC tax invoice registration with Tax Bureau
- Prepare monthly sales reconciliation and debtors aging reports
- Prepare monthly journal entries based on US GAAP or PRC GAAP to recognize the revenue
- Prepare monthly sub-ledger reconciliation in PeopleSoft
- Monitor the cash collection from customers and update in PeopleSoft
- Prepare and enter monthly accounting entries based on MGAP or local accounting policies, as applicable.
- Prepare year end local GAAP statutory accounting entries to ensure US and local accounts reflect audit adjustments.
- Reconcile prior period closing balance with current period opening balance once roll forward has occurred
- Liaise with HR on support and format of payroll related entries.
- Ensure all accounting entries are adequately supported and completed in accordance with company policies.
- Prepare audit memos on specific accounting matters, e.g. :office dilapidation, leasehold improvement, free rent amortisation, pension accrual, vacation accrual and obtain approval from relevant accounting group on related accounting entries.
- Ensure all AP hub postings under G/L reflect the correct accounts, amounts, departments, geography etc.
- Prepare and analyze all inter-company transactions within the region and allocation from Corporate office.
- Review and confirm the monthly netting report provided by the Corporate office for each business unit.
Financial and Tax (Income Tax and VAT) filings
- Ensure local filing obligations are filed on time.
- Ensure year end financial books are closed within legal deadlines.
- Ensure statutory accounts, tax computations and other legal documentation is available for review by Management and Tax with sufficient time prior to Directors and Shareholders’ meetings.
- Liaise with Tax Team on timely submission of all tax filings and claims.
Annual financial statements and statutory audit
- Preparation of annual audit pack and supporting documentation.
- Preparation of annual financial statements.
- Work pro-actively in order to have accounting pack ready for the auditors during their visit.
- Respond to auditors’ queries and work with auditors to have the audit completed within the agreed timeframe.
- Act as principle contact for statutory audit.
- Provide status reports and summaries during the audit process.
- Attend board meeting for financial statements approval.
Cash flow forecasts
Preparation of weekly/monthly cash flow forecast.
The financial activities covered by the local accountant are:
- Financial reporting and analysis for entities in Shenzhen, Beijing and Shanghai (US and local GAAP)
- Internal controls
- Accounting operations: Billing and Accounts receivables
- Accounting entries (General ledger)
- Financial and Tax filings
- Annual financial statements and statutory audit
- Cash flow forecasts
- Degree holder in Accounting & Finance with professional qualification
- Minimum of 3 years’ relevant experience in a multi-national corporation environment
- Proficiency in PeopleSoft System a plus
- Good knowledge of PRC GAAP, billing and statutory filings; and US GAAP a plus
- Excellent analytical, problem-solving, and organizational skills
- Detail-oriented and able to work under tight deadlines and manage multiple tasks simultaneously
- Fluency in both written and spoken English is a MUST
- Audit experience in Big 4 a plus
- Willing and able to travel occasionally