South Africa Job Openings
Shoprite Group
Lease Accountant
Brackenfell
FULL TIME
November 13, 2024
Closing Date
2024/11/20
Reference Number
SHO241113-5
Job Title
Lease Accountant
Job Type
Permanent
Location - Country
South Africa
Location - Province
Western Cape
Location - Town or City
Brackenfell, Cape Town
Purpose of the Job
The purpose of the Lease Accountant role is to manage all activities connected to the IFRS16 right of use asset and lease liability valuation. The role manages the day-to-day modifications to ensure that accounting entries comply with IFRS16. The role manages stakeholder relationships with the Contract Management team and needs to be comfortable with contract interpretation on aspects that impact IFRS16. The Lease Accountant reports on how IFRS16 impacts the financial results and provides assurance in terms of the valuation impacting parameters. The role maintains SAP conditions to ensure that the required accounting result is achieved. The role also provides support with a variety of activities like collecting and collating information to enable the team to deliver against expected quality standards, levels of accuracy and timelines.
Job Advert Details
Job Category
Finance
Job Objectives
Managing and Review of Business Rules with regards to IFRS16 valuation (in conjunction with the
Contract Management Team).
Stakeholder engagement on managing of Business rules with the Contract Management team, queries from DFM’s or Reporting Teams and the auditing function.
Maintaining the Business Rules on the SAP solution to ensure accurate valuations.
Managing contract changes and apply the correct valuation changes accordingly
Reviewing valuation rules based on daily modifications and make the necessary changes
Reviewing profitability and apply business rules to determine the renewal options to be selected
IBR application.
Performing Valuations (Executing valuation simulation, Reviewing valuation cash flow).
Updating valuation postings and review accounting entries.
Reconciling between rental payment and clearing of Lease Liability.
Continuously investigating rental payments and considering potential IFRS16 leases.
Manage Impairments of Right of Use (RE-FX) assets on SAP after collaboration with Group Finance.
Reporting on Right of Use Asset and Lease Liability.
Calculation and submission of budgeted figures for the next financial period for the Group. Manual calculation required where system solutions are unavailable.
Forecasting the accounts and balances for future periods as required by budgeting process.
Performing analytical analysis against the budget (budget vs actual review)
Analysing the results and perform reasonability checks (i.e., Impairments, Depreciation)
Assist the Lease accounting team to apply and improve IFC’s
Where necessary perform UAT or assist on projects relating to IFRS16
BPC Uploads and reconciliations.
Support activities and inputs for budgeting and forecasting, as requested.
Support activities and inputs related to the Annual Financial Statement disclosure.
Qualifications
B.Com honours or equivalent qualification with completed SAICA articles.
Qualified Chartered Accountant (CA(SA)) or in progress to qualify.
Experience
+4 years in an Accounting or equivalent role, managing all activities connected to the IFRS16 right of use asset and lease liability valuation Able to work with high volumes of data and with tight deadlines..
Experience within the FMCG, retail sector or similar
Knowledge and Skills
Able to work with high volumes of data and with tight deadlines.
Post article relevant experience in a financial Group setting with exposure to applying financial risk and control frameworks and relevant remediation or similar role.
Expert knowledge on IFRS16.
Experience working on SAP (general) as well as Fixed Assets and RE-FX modules.
Exposure to currency impacts for Lease Liability revaluations.
Personal drive and energy with strong integrity - takes accountability for actions and mistakes.
Motivated self-starter with the ability to cut through complex issues.
Independent and proactive problem solver and analytical thinker - understand and analyse the risks of complex financial processes with strong basis on accounting principles.
Collaborative partnering - build relationships both internally and externally. Open, honest and direct, is comfortable in giving and receiving constructive feedback. Think and act independently as well as collaboratively.
Confident communication - the ability to provide inputs that test and influence decision making at various levels of the organisation.
Strong Report Writing - applying accurate and succinct messaging.
Quick learner with strong attention to detail, and the ability to apply business processes and financial systems and their impact on financial risks and controls.
Time management - ability to prioritise a high volume of activities simultaneously in an unpredictable environment.
Adapting and responding to change - Ability to work under pressure in a fast paced, changing environment.
Financial Accounting expertise - curiosity to research best practices and an ongoing learning mindset.
Innovative and solution-orientated - creating and applying sound judgment and the ability to generate solutions that serves the flow of work, quality and the respective risk mitigation requirements.
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We regret to inform you that this job opportunity is no longer available as it has expired
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