Job Description

Key Duties and Responsibilities - Key Performance Indicators:

• Supervise and initiating the processing of client information receipts, sales invoices, purchase invoices
• Perform bank reconciliations.
• Processing and reconciling of Petty Cash and cash control accounts.
• Keeping of a fixed asset register
• General journals - e.g. depreciation, provisions, interest, salaries, stock, etc.
• Process journal entries e.g. new instalment sale agreements, interest on borrowings, provisions, accruals of income and expenses, bad debts ect.
• Distinguish between finance and operating leases.
• Foreign exchange transactions
• Reconcile debtors and creditors statements.
• Correct accounting treatment on disposal of assets (property, plant & equipment) and investments and the calculation of the taxation on capital gains/losses.
• Analyse the resulting trial balance for mistakes / deviations and be able to discuss the results with the client.
• Analytical review of AFS - GP%, Inventory days, Creditors days, Debtors days
• Ability to record books from insufficient records.

Produce a draft set of financials according to generally accepted accounting practice and a working paper file according to the standards per the training file for sole proprietors, close corporations, trusts, partnerships, small business corporations, farmers and Body Corporates.

• Prepare the notes to financial statements.
• Formulate accounting policies.
• Identifying provisions and contingent liabilities
• Calculate the tax liability for sole proprietors, individuals, close corporations and trusts, small business corporations, farmers, Body corporates and partnerships.
• Calculate the taxation on lumpsum payments by retirement.
• Tax planning - e.g. fringe benefits and allowances
• Tax avoidance / Non-resident tax
• Secondary tax on companies
• Perform vouching tests during an audit of (Pty) Ltd and Body Corporates to verify completeness, existence, accuracy, valuation, ownership and presentation.
• Calculation of PAYE/UIF/SDL levies and VAT.
• Completion of statutory returns e.g. UIF/SDL/PAYE/VAT.
• Liase with client re payment of the above returns.
• Reconciliations of input/output VAT to annual financial statements and monthly trial balances
• Compiling and discussing with the client of monthly management accounts.
• Complete a tax return for individuals, close corporations, trusts and body corporates.
• Recording and identifying short comings in internal controls
• Identifying risks and calculate materiality.
• Statutory checks - members certificates, founding statements, association agreements etc.
• Pre-engagement procedures
• Acquisition of members interest / shareholding
• Review the monthly files of junior to intermediate accountants.
• Completion and review of Management representation letters
• Qualifying the report of an Accounting Officer

Other

• Concept and characteristics of close corporations / private company / sole proprietor / trusts / clubs / sectional titles
• Advantages and disadvantages of the above
• Loans to members of the above
• Powers of members to bind the above
• Personal liability of members to CC / company and others
• Accounting records to be maintained.
• The duties and rights of an accounting officer
• Provide assistance to junior and intermediate accountants.
• Any other duty/work/client that is not the normal run of the mill activity e.g. and is of a more complex nature
• Provide and develop training to junior and intermediate accountants.
• Perform basic administrative duties as needed on a day-to-day basis.
• Review the working papers of junior to intermediate accountants.
• Able to audit and Body Corporates and perform Independent Reviews

Software

• Set-up of accounting systems for clients
• Suitable hardware and software
• Training of client staff in using the software (Pastel)

PKF South Africa