The role of the Chief Accountant is to maintain streamlined operations of the Accounting Department to ensure their work strongly algins with the company/ School goals. This involves leadership, supervision of day-to-day financial documentation, and periodic reports.
Duties and responsibilities
– Prepare and maintain accurate financial reports, including income statements, balance sheets, and cash flow reports.
– Develop and present management reports that provide insights into the school’s financial performance.
Budget Planning and Monitoring:
– Prepare annual school budget plans based on approved budgets from other departments, ensuring alignment with the school’s financial goals.
– Monitor budget allocation and expenditures, making adjustments as needed to ensure fiscal responsibility.
Cash Flow Management:
– Monitor and manage the school’s cash flow, ensuring it has sufficient funds for day-to-day operations and long-term financial planning.
– Implement strategies to optimize cash flow and liquidity management.
Financial Audits and Compliance:
– Coordinate financial audits, both internal and external, and ensure that the school’s financial records and practices comply with accounting standards and regulations.
– Address any audit findings and implement corrective actions.
Problem-Solving and Financial Consultation:
– Provide practical solutions for problems related to school operations and the accounting department.
– Offer financial guidance and consultation to other departments and decision-makers.
Policy Implementation and Updates:
– Stay updated on new policies and regulations issued by the holding company or relevant authorities.
– Apply new policies and regulations to the school’s financial practices and ensure compliance.
– Support other school departments in complying with accounting and tax regulations.
– Offer guidance and training to ensure that departments understand and adhere to financial policies and requirements.
Tax Compliance and Reporting:
– Ensure that the school complies with tax regulations and reporting requirements.
– Oversee tax calculations, filings, and related documentation, collaborating with tax authorities as necessary.
Financial Strategy and Planning:
– Participate in long-term financial planning and strategy development to support the school’s growth and financial stability.