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 – member’s certificates, founding statements, association agreements etc.
- Pre-engagement procedures
- Acquisition of member’s 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)
