Role
The Day-To-Day Activities
Overall responsible for maintenance and reporting of balance sheet line items reported in the Company’s financial statements and related party transactions
Monitors the following section of the balance sheet:
a) Property, plant and equipment (“PPE”)
b) Lease accounting
c) MCMC related projects
d) Inventory
e) Ageing of receivables and payables
f) Related party relationships and transactions
g) Accruals and provisions
PPE:
- Produce and monitor monthly Capex inventory, WIP, Fixed Asset Register
- Review and approve asset transfers, disposals, and write-offs
- Review and approve monthly depreciation charges and investigate any unusual variances
- Identify assets that are or may potentially be impaired and recommend action to address
Lease accounting:
- Produce and monitor monthly lease schedule and accounting for right-of-use assets and lease liability that complies with MFRS 16 Leases
- Review and approve monthly amortization and investigate any unusual variances
- Monitor and account for accruals of lease payments
- Work with other business units to ensure timely renewal of leases to avoid disruption to operaions
MCMC related projects:
- To track and monitor capex and opex of MCMC related projects
- Ensure timely billing to MCMC and capex and opex are cleared
- To produce and monitor the net carrying amount of capex of MCMC related projects for purpose of insurance renewal
Inventory:
- To review and approve monthly reconciliation report with 4PL vendor
- To monitor and track network inventories
- For inventories held by the Company, to produce monthly inventory reports and investigate unusual movements
- Review inventory ageing and recommend actions to address aged items
Ageing of receivables and payables:
- Review monthly ageing report and identify long outstanding balances
- Work with other functions (Accounts payable and receivable team) to address long outstanding balances from customers and timely payments to key suppliers
- Highlight balances which requires to be lodged as unclaimed monies and recommend action to address it after investigation procedures
Related party relationships and transactions:
- Track and monitor existing related party relationships and transactions
- Work with other functions to identify new related party relationships and transactions
- Ensure documentations are in place to support the related party relationships and transactions
Accruals and provisions:
- Assist other function to maintain a basis of accruals and provisions as supporting for accounting records
- Monitor and highlight aged accruals and provisions and recommend actions to address them
-
Prepare supporting documentation to assist financial accounting and reporting team’s monthly closing activities and statutory audit
-
Perform analytics on business performance in relation to CAPEX spend, Inventory movements, leases and RPT
-
Involvement in the preparation of reports to management, Executive Committee, Audit Committee and Board of Directors on monthly and quarterly basis.
-
Liaise with internal and external auditors for internal reviews and annual audit exercise respectively.
-
Identify and recommend areas of improvement on existing documentation and processes, including areas of automation; and lead the project team to implement these improvements
-
Involve in other ad-hoc projects as assigned.