Lease Accountant

3 weeks ago


Cape Town, South Africa Shoprite Group of Companies Full time
Job title : Lease Accountant Job Location : Western Cape, Cape Town Deadline : December 18, 2024 Quick Recommended Links
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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 valuationAble to work with high volumes of data and with tight deadlines..
  • Experience within the FMCG, retail sector or similar

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