Accounting Officer

Overview

The Head of Accounting performs various accounting operations and administrative functions and applies generally accepted accounting principles (GAAP) and methods in maintaining the financial records of the College. Duties include overall supervision of the daily operations of the accounting department, review and maintenance of the books of accounts ensuring its accuracy, reliability and timeliness, analysis of financial data, records and reports, establishment of the financial position and results of operations of the Institution; ensure tax and other regulatory compliance, development & implementation of effective systems and controls; and supervision of Purchasing and Asset Management functions. Other responsibilities include budget preparation for the Accounting Section, consolidation of Institution–wide budget for review, presentation and approval of the Officers and Board of Trustees.

Responsibilities

• ACCOUNTING AND FINANCIAL ANALYSIS: Takes charge of the overall preparation and generation of interim and annual financial statements of the Institution and ensures that the monthly, quarterly and annual financial reports and related supporting details are available and submitted within 10 days from cut-off date or applicable deadline set. These include all financial reports required by the various regulatory bodies, subject for review by the Controller and Director for Financial Affairs.
• Ensures accuracy, completeness, timeliness and reliability of recording of Fees and Collections from all sources by preparing/reviewing collection records and entries; prepares necessary adjustments where necessary.
• Reviews Accounts receivable, advances and other receivables records and ensures their timely update and accuracy; recommends provision for bad debts based on existing guidelines and relevant status and condition of the receivables.
• Reviews expenses, payable and disbursement vouchers and supporting documents and ensures that all expenses are valid, accurate and approved by the authorized officials; checks propriety of account charging and journal entries; authorizes postings in the books.
• Reviews the Accounts payable and other liabilities subsidiary ledgers and ensures records reflect accurate liabilities outstanding at any given point in time.
• Reviews and approves recurring entries (amortizations, accruals, interests, loans and investments), month-end closing processes, monthly and year-end supporting schedules and reports; monitors prompt recording and completeness.
• Reviews Fixed Assets records and all acquisitions, disposals and monthly depreciation per cost center; checks that capital assets are reconciled and reflected in the books are updated.
• Supervises Asset Management section and ensures assets are recorded, protected and insured; all acquisitions and disposals are authorized and in accordance with policies; develops asset management system.
• Takes charge of projects assigned and ensures objectives, quality deliverables and deadlines are met.
• Ensures proper implementation and compliance with approved systems and controls for general accounting; initiates recommendations and corrective actions for improvement. Develops, maintains, and continuously improves accounting, budgeting, asset management and purchasing systems.
• Performs other financial-related responsibilities as may be necessary.

Budget

• Prepares the annual budget for the Accounting Department.
• Drives the budgeting process and consolidates all budgets submitted by various departments; prepares projected financial position and results of operations; provides recommendations on budget cuts to achieve financial targets.
• Monitors all expenditures to ensure alignment with the approved budget.
• Prepares and analyzes monthly, quarterly and annual comparative financial performance and reports actual performance vs budget to the Comptroller and Director for Financial Affairs.

Mandatory and Regulatory Compliance

• Coordinates with and assists the external auditor in their audit requirements, including preparation and submission of accurate audit schedules.
• Reviews audit adjustments and monitors finalization of the audited financial statements for presentation to the Board of Trustees for approval.
• Helps prepare financial analysis and projections to determine tuition/fee adjustments as required by regulatory agencies such as DEPED, CHED, TESDA; prepares reports for tuition fee increase applications if any.
• Prepares/reviews accurate computation and monitors timely preparation, filing and payment of taxes and mandatory insurances, liabilities and employee loans; file required reports with regulators; uploads tax payments in online banking as applicable.
• Keeps updated on tax laws and regulatory compliance requirements and ensures full compliance.
• Recommends and implements changes to optimize operational efficiency, cost effectiveness and regulatory compliance; leads projects such as automated accounting system implementation and integration with other systems (Enrolment, Payroll, Purchasing, Inventory); migration to new fiscal year; use of POS and related endeavors.

Administrative Tasks

• Prepares annual operational plans, budget and other department reports.
• Manages resources assigned to the department.
• Initiates team planning to ensure seamless operations aligned with campus objectives.
• Regularly monitors and appraises staff performance; identifies training needs and recommends development programs.
• Participates in institutional activities, community and outreach programs, and training sessions for professional development.
• Serves on appropriate committees when appointed; performs other related duties as assigned by superior.

Working Relationships

Internal: Upward – Director for Financial Affairs (Direct operational reporting); Controller; Lateral – Department Heads; Other Departments – Coordination. Downward – Senior Accountant, Accounting Assistants (Direct operations). External: Professional/Regulatory Agencies; Other Schools.

Job Specifications

• Education: Bachelor’s Degree in Accountancy; CPA
• Experience: At least 5 years of accounting and finance supervisory/managerial experience
• Core Competence: Professional/Technical Proficiency; Analytical Skills; Decisiveness; Judgment; Interpersonal Sensitivity; Management Skills; Oral and Written Communication Skills; High Attention to Detail; Computer Literacy; Working Knowledge in Accounting Systems/Software

Working Conditions

Ordinary office environment / online as needed

Seniority level

• Director

Employment type

• Full-time

Job function

• Accounting/Auditing and Finance

Industries

• Education

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