The Accounts Officer will be responsible for managing the school's finances and assets while maintaining the standard book of accounts in accordance with IAS. Will also act as the Principal Budget Officer of the School Unit and report back to the Finance Business Partner.
- Ensure fees charged and collections are recorded timely and accurately.
- Fee discounts, concessions and revenue recognitions are recorded accurately and as per GEMS Policy
- Ensure Invoices to the parents and companies are generated as per the fee schedule and follow up for collection.
- Follow up on outstanding debts and initiate the payment plan in consultation with the Principal.
- Supervise and directly responsible for all activities of Cashier / Assistant Accountant on fees
Receivables and Payables:
- Ageing of Fee Receivables and Ageing of creditors are monitored.
- Fee outstanding is analyzed and the principal is advised on major cases for action.
- Creditors are scrutinized and payments are done only on due dates after verifying the proper supporting documents.
- Ensure approved Power of Expenditure (POE) is followed with respect to all payments.
- Ensure appropriate cost centres are selected for expense/ income to improve reporting.
- Responsible for the preparation and distribution of monthly payroll to all employees of the unit with strict adherence to employment contracts,
- Ensure GEMS staff policies and UAE labour law are complied with.
- Collate, input, check and processing of monthly payroll including all expense claims, earnings and deductions.
- Verify the employee leave records and preparation of final settlements of employees.
- Ensure all the HR policies are implemented and payroll prepared accordingly.
- Maintain confidentiality of all payroll information.
Management Information System (MIS):
- Preparation and timely submission of MIS in line with the financial statements.
- The following main areas to be covered in MIS
- Accruals, provisions, prepayments
- Revenue recognition
- Maintenance of fixed assets records and calculation of depreciation
- Analyses are performed with actuals and budgets both Year to Date and Month to Month actuals and budgets. Any exceptions are disclosed and inform the management to take corrective measures. MIS helps management to take policy decisions and supports future business plans.
Treasury management and Bank Reconciliation:
- Responsible for management of unit’s cash flow.
- Preparation of actual Cash Flow Rolling Cash flow and other treasury report as required by the Corporate treasury team.
- Ensure monthly bank reconciliation statements are done and follow up for the pending issues.
- Liaise with the bank on routine operational issues.
- Help Management to determine and maintain costs of various activities in the unit.
- Identify all cost reduction areas and recommend for its implementation.
- Responsible for the strict adherence to the approved annual budget through cost management and finding ways to maximize company profits.
- Analyze and plan various activities and identify ways for cutting down costs without affecting the operation plan of the business.
Budgets and Forecast:
- Collect, consolidate and reconcile data and information from various departments within units and organization
- Prepare a unit specific budget in line with the financial and operational plan of the organization in close consultation with the budget team members.
- Helping the business team to develop targets and identify if business drivers are in line with organization strategy.
- Variance analysis reports are prepared to gain consensus among finance and operation managers.
- Various analysis reports are prepared and presented in the budget
- Periodic forecast reports are prepared considering the external market changes and internal organizational changes.
- Realign or reallocate the resources to bring the financial plan in the right direction.
- Oversee and supervise all the functions of Assistant Accountants, cashiers and Stores in charge.
- Ensure that all your team members respond to the departmental and customer queries.
- Ensure that all the files and records are kept properly and in chronological order.
- All payments including the lease agreement payments, sponsorship payments, supplier payments, final settlements are processed with proper supporting documents and in accordance with company policies.
- Support the Principal with information for decision making by providing financial information as appropriate.
Statutory Audit and Financial Reporting :
- Preparation and fair presentation of Financial Statements including the statement of financial position, statement of comprehensive income and statement of cash flows in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and the applicable requirement of UAE laws.
- Present the Financial statements to the external auditors to express their opinion on the statement and finalise an audited financial statement.
- Ensure that ERP delivers a fully integrated range of functions, including general ledger; accounts payable and accounts receivable; comprehensive budgeting, asset accounting, cash management capabilities; and other dedicated tools.
- Ensure accuracy of data entry and reports in the ERP solutions and inform Management of any errors or corrections.
- Develop better reporting formats for data control.
- Act as the representative of Corporate Finance in Units.
- Corporate Finance communicates to units regarding all policy decisions thru Accounts Officers and he /she acts as a bridge between Corporate Finance and Unit.
- Ensure the compliance of all organizational policies and communicate to Corporate Finance of deviations, if any.
- Responsible for training subordinates and communicating the management expectation for the Finance department.
- Ensure that the finance department is well staffed and professionally trained to fulfil the management expectation.