Senior Financial Reporting SpecialistXtreme Media • Republic Of India, IN
Senior Financial Reporting Specialist
Xtreme Media • Republic Of India, IN
5 days ago
Job descriptionScrutinise Trial Balance and General Ledger – identify abnormal balances / transactions, confirm arithmetical equality (debits = credits) and correct errors before finalising financials. Lead the period-end close process in the ERP environment, including opening / closing posting periods, ensuring proper fiscal procedures and controls. Conduct ratio analyses (profitability, liquidity, efficiency), cash flow analyses and other business insights. Manage the monthly MIS process from business units : collect MIS, perform checks for accuracy, consolidate at company level, produce insightful PowerPoint presentations to management on variances (Revenue, Material Cost, Variable Cost, Fixed Cost, Other Income). Prepare presentations for meetings (Audit Committee, Board of Directors, Investor Calls) – focusing on standalone & consolidated financial health, internal audit observations, action-taken reports, and key numbers (Revenue, Volumes, EBITDA, PBT, PAT) with comparable. Oversee statutory auditors’ review under applicable regulations and manage liaison with both external and internal auditors. Prepare quarterly audit plan (tentative due dates, SPOCs) and coordinate all audit queries. Act as audit-coordinator : arrange auditor meetings with company departments, respond to queries in a timely manner, ensure resolution of audit observations. Collaborate with secretarial consultant on compliance matters (related parties, MSME returns, DPT-3, CSR budget). Handle XBRL filings for financials. Support the development and implementation of reports and procedures in alignment with law changes and internal control requirements. Manage direct taxation : handle faceless tax assessments, respond to tax notices, prepare documentation for tax audits and represent the company before tax authorities. Compute and report current and deferred tax liabilities; Oversee Income Tax Returns (ITR), TDS / TCS compliance and coordination with tax advisors. Establish and oversee the inventory management system : track stock movements, ensure controls around stock counts, reconciliations and inventory ageing. Supervise product costing design : define & maintain cost-structure for manufactured / held goods including materials, labour, overheads, and absorption of indirect cost. Select and apply suitable inventory valuation / costing methods (e.G., FIFO, specific cost) and ensure consistency of method year-to-year. Monitor inventory ageing, obsolescence, slow-moving and excess stock; Provide periodic product-cost variances : material cost variance, labour cost variance, overhead absorption variance; Collaborate with business units and supply-chain / production / warehouse teams to align operational inventory policy (reorder points, lot sizes, lead-times) with financial targets and minimise carrying cost. Work with the ERP team to embed inventory & product costing logic into system : ensure postings of inventory movements, WIP, finished goods, COGS flows correctly through the ledger, and reports support management decision-making. Link inventory & costing metrics into monthly MIS / rolling forecasts / budgeting : e.G., closing stock, inventory turnover, cost of goods sold, margin by product line, inventory days. Ensure disclosure note-requirements in financial statements for inventory (valuation method, cost formula, carrying amounts, etc.) in accordance with applicable standards. Manage indirect tax compliance across the group : monitor, interpret and apply the regulatory framework for GST in India (CGST / SGST / IGST), ensure correct registration, tax classification (HSN / SAC codes), tax rate application, timely filings and claims of input tax credit. Oversee customs duty matters for imported goods : ensure compliance with tariff classification, correct valuation, duty payment, documentation and liaison with customs authorities. Coordinate with team to assess indirect tax liabilities, reconcile tax credits (for example, GST input tax credit) and ensure correct recording of indirect-tax expenses or assets in the financial statements. Integrate indirect tax aspects into audit and regulatory agenda : e.G., ensure audit coverage of GST compliance, customs compliance, tax notices / responses for indirect tax matters. Work with IT / ERP team to develop and enhance the system : ensure the ERP captures correct tax codes / rates, tax implications for inter-company transactions, imports / exports, and MIS reports cover indirect tax performance (tax paid, input credit, compliance deadlines). Keep abreast of indirect tax law changes (GST slab changes, customs tariff revisions, regulatory clarifications) and assess business impact; Collaborate with the BC implementation team (or partner) to define finance & operations requirements : mapping existing ZOHON processes (month-end close, posting periods, inter-company eliminations, inventory cost flows, product costing, indirect tax functionalities) into Business Central. Lead the configuration of BC modules relevant to finance, consolidation, inventory & costing, tax and operations. Ensure key components such as general ledger, posting periods, inter-company journals, inventory valuation / absorption, cost centres, product costing are set up correctly. Develop and manage “on-the-go” enhancements (post-go-live) in BC : Design and test new BC reports & dashboards (using Power BI / BC built-in reporting) to meet management / board / audit requirements. Work with BC’s workflow automation (via Power Automate, BC workflows) to embed controls — e.G., approval of intercompany journals, validation of posting period opening / closing, inventory count alerts, cost variance notifications. Conduct continuous improvement : as business evolves (new products, geographies), update BC configuration and extensions to support changes — e.G., new cost centre hierarchies, new statutory tax regimes, new methods of inventory valuation. Manage the fiscal close in BC : ensure correct opening / closing of posting periods, reconciliation of ledgers, validation checks for debit / credit equality, abnormal balances detection via custom reports or alerts within BC. Ensure integration of BC with other systems : e.G., subsidiary data collection into BC for consolidation, inter-company elimination logic, inventory movements feeding into costing sub-ledgers, tax system linkage for GST / customs. Provide finance users, business-unit stakeholders, audit & tax teams with training and documentation on the BC system — covering both standard functionality and the custom enhancements ("on the go" developments). Monitor and govern data quality, master-data controls (chart of accounts, cost centres, posting groups, inventory items, inter-company partners) within BC to ensure that financial reporting, consolidation and costing stay accurate and reliable. Stay updated with Microsoft’s Business Central updates / patches, and evaluate how new features (e.G., AI insights, Copilot, workflow automation) can further streamline finance operations; Strong knowledge of AS and consolidation accounting. Deep experience in trial balance, general ledger scrutiny, error rectification & adjustment entries. Ability to prepare and analyse financial statements (BS, P&L, Cash Flow, SoCE) including detailed disclosures. Proficiency in ratio analysis, cash flow analysis, variance analysis, forecasting & budgeting. Excellent presentation skills for senior management, auditors, board / investor calls. Experience with audit coordination, liaison with external / internal auditors, preparation of audit plans. Familiarity with regulatory compliance (e.G.,XBRL, MSME returns, DPT-3, CSR, RPT). Hands-on ERP finance processes : month-end / fiscal close, posting period management, report development. Product costing and inventory valuation expertise, cost-control mindset. Strong indirect tax knowledge : GST, customs, import / export duty, tax credits and compliance. Taxation capabilities : handling tax assessments, preparing ITRs, computing current / deferred tax, TDS / TCS compliance. Strong business partnering & communication — collaboration with secretarial team, business units, consultants, etc. Analytical mindset, attention to detail, ability to manage multiple tasks under deadlines.
A. Group Financial Reporting & Consolidation
- Drive the preparation of group and subsidiary financial statements – Balance Sheet, Profit & Loss, Cash Flow, Statement of Changes in Equity – including all required notes and disclosures as per AS.
- Ensure that all subsidiaries financials in the holding company’s format to enable consolidation.
- Perform inter-company reconciliation of closing balances and intra-group transactions;
prepare adjustment entries for eliminations and other consolidation adjustments.
B. Analysis & Management Reporting (MIS), Forecasting & Budgeting
C. Audit, Compliance & Controls
D. Direct Taxation
ensure tax figures are appropriately recorded in the financial statements per accounting standards.
E. Inventory Management & Product Costing
ensure appropriate provisioning / write-downs in line with accounting standards.
feed these into MIS / management reports to highlight cost control opportunities.
F. Indirect Taxation (GST, Customs, etc.)
update policy, processes and controls accordingly.
G. ERP Finance & Process Improvement
coordinate partner updates and internal change management.
3. Key Skills & Competencies
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Financial Reporting Specialist • Republic Of India, IN
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