Sr Financial Analyst AccntngApply Now Job ID: R0000152179 job family: Accounting schedule: Full time Location: Target Corporation India Pvt. Ltd., Bangalore, Karnataka, India, 560045;
The candidate would be a key member of the Financial Accounting & Reporting team and responsible for supporting the periodical & financial reporting under the IndAs and USGAAP and compliance with the Companies Act. The candidate would be further responsible for end to end management of Asset & Revenue accounting and ensure true and fair accounting and compliance. The incumbent will work with cross functional teams including Real estate; IT Infrastructure; tax; compliance and global accounting team in managing the day to day function of the role.
PRINCIPAL DUTIES AND RESPONSIBILITIES
1. Support preparation of financial reporting and related scheduled as per the allocated areas
2. End to end responsibility for accounting for PPE, Revenue & Leases and all other related activities to ensure true and fair records including and not limited to the below:
a. Responsible for managing updating Standard Operating Procedure & Internal Financial controls for the above and make periodical changes.
b. Record asset acquisitions including loan free asset, transfers, support bonding and forex adjustments
c. Manage the asset in progress to ensure timely capitalization
d. Record asset dispositions, gains/ losses, impairments, debonding and certifications for assets movements.
e. Maintain a detailed schedule of assets and accumulated depreciation in asset register including schedules for tax audit purpose under sec 32 of Income tax Act
f. Ensure timely reconciliation of assets ledger and work with HQ to resolve any discrepancy
3. Management reporting to highlight gaps and performance including cost to budget mapping
4. Responsible for maintaining SOX compliance in Fixed Assets area
5. Work closely with HQ to ensure Fixed assets Roll-forward happens correctly in SAP
6. Responsible for preparing Deferred tax schedules for Fixed assets timing difference for return filing purpose for Form 3CD
7. Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.
8. Work with business to ensure fixed assets are tagged based on SAP serial numbers.
9. Work with business and ensure timely conduct of physical verification of assets (~40k assets) as per the frequency called out in the FA policy
10. Conduct analyses related to fixed assets as requested by management.
11. To work closely with HQ and evaluate to see whether Fixed asset can be automated and replicate HQ model (WBS process for Capex procurement)
12. Ensure and work with relevant stakeholders to ensure timely completion of Assurenet reporting as required by SOX
13. Ensure and work with operation team to ensure all schedules relating to BRS, Assets and liabilities are prepared correctly and organize the monthly meetings for leaders review
14. Ensuring all submission of details & schedules to Auditors (Statutory, Tax & Internal).
15. Preparation of various MIS reports on cash flows, financials for leaders and HQ reporting.
16. Review and drive the monthly accounts closing process and ensure appropriate allocation to cost centers
17. Consolidate the monthly P&L and Balance sheet; drive the management meetings, ensure co-ordination with the larger team for resolution to ensure true and fair books of accounts.
18. Ensure adequate backups are available for all accounting information and necessary reconciliations and validations and verifications have been carried on and documented to satisfy the requirements of Balance Sheet integrity.
19. Ensuring all submission of details & schedules to Auditors (Statutory, Tax & Internal).
20. Ensure compliance with applicable regulations and accountable for managing external reviews not limited to Internal Audit; Statutory audits; Internal Financial Control (IFC); Foreign Corruption Practices Act (FCPA) and Foreign Exchange Management Act (FEMA)
21. Lead process improvement ideas in driving efficiency, strengthening controls and improving quality
22. Ensure collaboration with all team members to ensure seamless experience and provide meaningful information to the management to drive effective decisions
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