Accounting Manager
Job Description
The Accounting Manager is responsible for overseeing the company’s financial operations, ensuring accurate reporting, regulatory compliance, and efficient management of resources. This role involves supervising the accounting team, managing accounts payable and receivable, and ensuring proper cost tracking for importation and inventory. The Accounting Manager plays a pivotal role in supporting the company’s wholesale and retail operations, achieving financial goals, and maintaining strong relationships with suppliers, clients, and regulatory bodies.
Duties and Responsibilities
Financial Reporting and Analysis - Prepare and analyze financial statements (P&L, balance sheets, cash flow) with a focus on wholesale and retail operations.
- Provide insights into sales performance, cost efficiency, and profitability.
- Monitor and report financial performance.
Budgeting and Forecasting - Develop and manage annual budgets for wholesale, retail, and importation operations.
- Forecast revenue and expenses, considering variables like importation costs, logistics, and market trends.
- Conduct variance analysis and provide recommendations to improve financial outcomes.
Accounts Management - Oversee accounts receivable, ensuring timely collection from Modern Trade Accounts, supermarkets, convenience stores, and HORECA clients.
- Supervise accounts payable, ensuring timely and accurate payments to Korean suppliers and local vendors.
- Reconcile bank accounts and resolve discrepancies promptly.
Importation and Cost Tracking
- Manage financial aspects of importation, including landed cost computation, customs duties, and VAT compliance.
- Ensure proper allocation of costs to inventory for accurate pricing and profitability analysis.
Inventory and Cost Control - Monitor and reconcile inventory accounts to reflect accurate stock levels and values.
- Implement cost-control measures to minimize overhead and optimize pricing strategies.
- Regularly review inventory turnover and address slow-moving or obsolete items.
Compliance and Internal Controls - Ensure compliance with tax laws and government regulations, including VAT, withholding taxes, and import duties.
- Lead internal and external audits to ensure accurate financial reporting and regulatory adherence.
- Develop and enforce internal control procedures to safeguard company assets.
Team Supervision and Development - Lead, mentor, and train accounting staff to enhance their skills and efficiency.
- Delegate tasks effectively and monitor progress to meet deadlines.
- Conduct performance evaluations and identify professional growth opportunities for team members.
Process Improvement - Streamline accounting workflows and leverage technology for increased efficiency.
- Automate processes related to inventory management, supplier invoicing, and financial reporting.
- Identify and implement best practices for cost-saving and process optimization.
Financial Planning and Strategy - Provide strategic financial insights to senior management to support decision-making.
- Evaluate the financial feasibility of new product launches, market expansions, or partnerships.
- Analyze ROI for promotional activities and other investments.
Stakeholder Communication - Act as the primary financial contact for suppliers, auditors, banks, and regulatory authorities.
- Provide periodic financial updates and recommendations to senior management.
- Maintain strong relationships with Korean suppliers to ensure smooth financial transactions.
Qualifications
Qualifications - Bachelor’s degree in Accounting, Finance, or a related field.
- Certified Public Accountant (CPA) designation is highly preferred.
- At least 5–7 years of experience in accounting or finance, with a minimum of 2–3 years in a supervisory or managerial role.
- Background in financial reporting, tax compliance, and auditing is an advantage.
- Experience in specific industries (e.g., manufacturing, retail, food service, or construction) may be preferred, depending on the company.
