Duties
A Senior Accountant is basically the bridge between junior accountants and management/CFO. They handle more complex work and also supervise others.
Responsibilities
Core Technical Duties:
Financial Reporting: Prepare monthly, quarterly, and annual financial statements. Ensure compliance with IFRS and company policies.
General Ledger Management: Oversee GL entries and reconciliations for bank accounts, accounts receivable, accounts payable, inventory, and fixed assets.
Budgeting & Forecasting: Assist with annual budgets, variance analysis, and rolling forecasts.
Audit Support: Coordinate internal and external audits. Provide schedules, documents, and explanations to auditors.
Tax & Compliance: Prepare and review VAT, PAYE, WHT, and CIT returns. Ensure statutory compliance with FIRS and other regulators.
Payroll Review: Oversee payroll processing and ensure accurate deductions and remittances.
Supervisory & Leadership Duties:
Team Management: Supervise junior accountants and accounts officers. Review their work and provide training.
Process Improvement: Design and improve accounting processes, controls, and standard operating procedures to reduce errors.
Month-End/Year-End Close: Lead the month-end close process to ensure books are closed accurately and on time.
Advisory & Management Duties:
Management Reporting: Prepare financial analysis, KPIs, and management reports for directors and heads of department to support decision-making.
Internal Controls: Implement and monitor internal controls to prevent fraud and ensure accuracy.
Liaison: Work with other departments, including Procurement, Sales, and HR, on financial matters and resolve discrepancies.
Special Projects: Handle ad hoc projects such as cost analysis, system implementation, or due diligence.
Requirements
Key Skills Needed:
Strong knowledge of IFRS, tax laws, and accounting software such as SAP, Oracle, and QuickBooks.
ICAN or ACCA certification is usually required or preferred.
Leadership, attention to detail, and analytical skills.
In short, junior accountants handle recording, while Senior Accountants review, analyze, and report.