GM - Finance and Account ( Chattered Accountant)

Job Description Position: General Manager Accounts & Finance (Real Estate Industry)

Experience Required: 10+ years in Accounts & Finance, with at least 5 years in the real estate

Industry Qualifications: Chartered Accountant (CA)

Location: Erandwane & Shivaji Nagar, Pune

Department: Finance & Accounts Reporting to: Chief Financial Officer (CFO)

Roles & Responsibilities:

1. Accounting Operations Management

• Overall Oversight: Supervise and manage all accounting functions, ensuring timely and accurate recording of financial transactions.
• Account Reconciliation: Oversee the reconciliation of all accounts, including general ledger, bank accounts, project-related accounts, and intercompany transactions.
• Journal Entries: Approve journal entries for monthly closing and ensure proper allocation of costs and revenues according to company policies.
• Month-End & Year-End Close: Ensure timely and accurate completion of month-end and year-end closing processes, including preparing necessary accruals and adjustments.

2. Financial Statement Preparation & Reporting

• Financial Statements: Oversee the preparation of accurate financial statements, including Profit & Loss (P&L), Balance Sheet, and Cash Flow Statement, ensuring they reflect the true financial position of the organization.
• Consolidated Reporting: Prepare consolidated accounts for the entire organization, if applicable, and ensure all subsidiaries' financials are accurately reported.
• Variance Analysis: Perform monthly and quarterly variance analysis for financial statements, identifying and explaining discrepancies between budget and actual performance.
• Management Reports: Prepare management reports for senior leadership, highlighting key financial data, performance trends, and actionable insights.

3. Taxation and Compliance

• Tax Compliance: Ensure timely and accurate filing of taxes (including VAT/GST, corporate tax, income tax, and other statutory filings) as per local regulations.
• Tax Provisioning: Oversee the preparation of tax provisions and ensure all necessary tax-related journals are made.
• Statutory Compliance: Ensure the company adheres to all statutory accounting and financial regulations, including but not limited to the Companies Act, Income Tax Act, and real estate-specific tax regulations.

• Tax Planning & Reporting: Supervise and manage tax planning activities to optimize tax liabilities while ensuring full legal compliance.

• Internal Controls and Audits

• Internal Control Systems: Implement and maintain a robust internal control system to safeguard company assets, ensure accuracy in financial reporting, and mitigate financial risks.

• Audit Preparation: Oversee the preparation for internal and external audits, ensuring that all requested documentation, schedules, and reconciliations are provided on time.
• Audit Coordination: Coordinate with external auditors during audits, responding to queries and ensuring timely audit completion and reporting.

5. Accounts Payable and Receivable

• Accounts Payable (AP): Oversee the accounts payable process, ensuring vendors and contractors are paid on time and in accordance with agreed terms.
• Accounts Receivable (AR): Monitor and manage the accounts receivable process, ensuring timely collection of payments from customers, clients, and partners, particularly in real estate transactions (e.g., rental income, property sales).
• Aging Analysis: Review aging reports regularly for both AP and AR, addressing overdue payments and ensuring minimal risk of bad debts.
• Cash Flow Management: Oversee cash flow management, ensuring that sufficient funds are available to meet obligations and operational needs.

6. Fixed Assets Management

• Asset Register: Ensure the proper recording of fixed assets in the companys asset register, including acquisitions, disposals, and depreciation calculations.
• Depreciation Management: Review and approve depreciation schedules in accordance with applicable accounting standards and policies.

• Asset Reconciliation: Ensure regular reconciliation of physical assets with financial records to prevent discrepancies.

• 7. Project Accounting (Real Estate-Specific)

• Project Costing & Tracking: Oversee project-based accounting, ensuring that project costs (such as construction, land acquisition, and other real estate-related expenses) are tracked accurately.
• Project Budgets: Ensure project budgets are adhered to by monitoring and reporting on actual versus budgeted costs.
• Revenue Recognition: Oversee revenue recognition for real estate transactions, ensuring proper accounting of sales, leasing, or development-related income.
• WIP (Work in Progress) Management: Monitor the status of Work in Progress (WIP) accounts for real estate projects, ensuring timely capitalization of costs and recognition of revenue.

8. Payroll & Employee Benefits Accounting

• Payroll Processing: Ensure accurate payroll processing, ensuring that all employee-related expenses, including salaries, bonuses, and benefits, are accounted for.
• Employee Deductions: Ensure the proper accounting of employee deductions (such as taxes, provident fund, etc.) and ensure timely remittance.
• Benefit Accounting: Supervise the accounting for employee benefits, including insurance, retirement benefits, and stock options.

9. Financial Analysis and Advisory

• Financial Analysis: Provide financial analysis to senior management, highlighting trends, key performance indicators, and financial projections.
• Cost Control: Work closely with other departments, especially project management, to identify areas of cost control and improve profitability in real estate projects.
• Risk Management: Assess and manage financial risks related to real estate development, investments, and transactions, advising management on necessary actions.

10. System Implementation and Optimization

• ERP Systems: Oversee the use of accounting software/ERP systems (such as SAP, Oracle, or similar) to ensure accurate data entry, reporting, and compliance.
• Automation & Efficiency: Identify opportunities for automating repetitive tasks and improving the efficiency of accounting operations using technology solutions.

11. Budgeting and Forecasting

• Budget Creation: Develop annual budgets for the accounts department, aligning with the overall company strategy.
• Cash Flow Forecasting: Oversee cash flow forecasting, including projecting revenues, expenses, and capital expenditures for upcoming periods.

12. Leadership & Team Management

• Team Supervision: Manage the accounts team, ensuring that all financial tasks are completed in a timely and efficient manner.
• Training & Development: Provide training and support to the accounts team to ensure adherence to company policies, best practices, and continuous professional development.
• Performance Reviews: Conduct regular performance reviews, providing constructive feedback and addressing performance issues promptly.

Key Skills & Qualifications:

• Education: Qualified Chartered Accountant (CA) with a strong foundation in accounting principles.
• Experience: Minimum of 10 years of experience in Accounting & Finance, with at least 5 years in the real estate industry.
• Knowledge of Real Estate: In-depth understanding of financial structures, project financing, investment strategies, and market dynamics in the real estate sector.
• Financial Acumen: Strong knowledge of financial analysis, accounting systems, tax compliance, and financial reporting for real estate projects.
• Leadership: Proven experience in leading teams, managing large-scale budgets, and ensuring financial efficiency in a complex organization.
• Analytical Skills: Strong analytical abilities to assess financial statements, investment returns, and business risks.
• Software Skills: Proficiency in ERP systems (e.g., SAP, Oracle) and MS Office Suite (especially Excel for financial modelling).
• Communication Skills: Excellent verbal and written communication skills to interact effectively with senior leadership, external stakeholders, and team members.