Management Accountant - Coricraft at TFG (The Foschini Group)

Key Responsibilities

 Month-End Duties:

• Ensure accurate recognition and period allocation of all revenue and expenses.
• Reconcile and validate sales data, payroll costs, and associated liabilities.
• Accurately process and allocate staff deductions, commission structures, and bonus provisions.
• Prepare and reconcile key Balance Sheet items, ensuring completeness and accuracy of provisions.
• Manage payroll expense allocations by department and confirm salary-related liabilities are correctly recorded and settled on time.
• Monitor and manage turnover rental liabilities, ensuring accurate accruals and timely payments.
• Prepare and review the monthly management accounts, ensuring cut-offs are met and reporting is aligned with operational performance.
• Maintain a detailed audit trail and documentation to support all transactions reflected in the general ledger.

Financial Reporting & Analysis

• Compile comprehensive reports for monthly management meetings (MANCO), enabling insightful analysis of performance vs budget.
• Provide variance analysis and commentary for income statement and balance sheet items.
• Assist with preparation of year-end financial statements and coordination of the external audit process.
• Ensure compliance with internal policies, accounting standards, and audit requirements.

Cash & Banking

• Oversee the preparation, verification, and release of salary and EFT payment batches.
• Manage bank reconciliations and ensure all items are cleared and resolved within acceptable timelines.
• Monitor and maintain cash flow projections, flagging shortfalls or excesses for proactive action.
• Ensure all bank-related charges, interest, and loan repayments are correctly accounted for.

Team Oversight & Internal Controls

• Lead and support the Creditors, Debtors, and Cashbook teams to ensure efficient processing and reconciliations.
• Review and approve reconciliations, journals, and supporting documentation submitted by the team.
• Implement and maintain strong internal controls and standard operating procedures within the finance function.
• Encourage cross-training and professional development within the team to build a flexible and capable support structure.

Operational Support

• Work closely with operations and store managers to resolve capturing errors, expense allocations, and cost anomalies.
• Ensure accurate stock movement reporting including WIP, Finished Goods, and non-BOM items.
• Maintain fixed asset register and oversee monthly depreciation entries.
• Monitor and analyse fleet costs, petty cash allocations, and inter-factory transactions.

 Ad Hoc & Continuous Improvement

• Assist in financial system upgrades, data cleanups, and process improvements.
• Identify opportunities to streamline reporting, improve accuracy, and reduce manual intervention.
•  Provide ad hoc financial insights or analysis as requested by the Head of Finance or Executive Team.

Minimum Qualification & Memberships:

• Diploma or Degree in Financial Accounting
• Studying towards CIMA (advantageous)
• Membership with SAICA, CIMA, or SAIPA preferred