Accountant

4 weeks ago


Singapore COMO HOTELS & RESORTS (ASIA) PTE. LTD. Full time
Roles & Responsibilities

Main Duties & Responsibilities:

1. Financial Management & Reporting

  • Maintain Hotel Management Books: Ensure accurate and up-to-date financial records for the hotel management companies.
  • Prepare Financial Reports: Generate monthly, quarterly, and annual reports related to hotel management fees, expenses, and profitability.
  • Variance Analysis: Analyze actual financial performance against budgets, forecasts & last year, identifying variances and providing explanations.
  • Reconciliation: Reconcile bank accounts and intercompanies transactions between the hotel management companies and individual hotel entities.

2. Budgeting & Forecasting

  • Prepare Budgets: Assist in developing annual and long-term financial plans for the hotel management companies, covering revenues, expenses, and profitability.
  • Financial Forecasting: Regularly update financial forecasts based on operational performance, contract changes, and economic conditions.
  • Monitor Budget Performance: Track actual results against budgets and provide reports to management with variance analysis and recommendations.
  • Support Decision-Making: Provide financial insights to support executive decision-making regarding growth, cost control, and financial strategy.

3. Accounts Payable & Receivable

  • Invoice Processing: Oversee the issuance of invoices for hotel management fees & rechargeable expenses, ensuring accurate billing per contract.
  • Revenue Tracking: Ensure proper recognition of management fees, incentive fees, and other contractual revenues.
  • Expense Management: Review and process expenses related to corporate office functions, shared services, and management support for hotels.

4. Contract & Compliance Support

  • Support the VP Finance in Contract Analysis: Review financial clauses in Hotel Management Agreements (HMAs) to ensure compliance.
  • Track Hotel Management Contracts: Maintain an updated database of all active HMAs, including contract terms, management fees, incentive structures, and key financial deadlines.
  • Monitor Contractual Revenue: Ensure the correct calculation and timely collection of management fees and other income streams.

5. Audit & Revenue Verification

  • Audit Hotel Performance: Conduct periodic audits on managed hotels to verify reported revenue and ensure accurate financial reporting.
  • Revenue Verification: Cross-check hotel revenue reports against supporting documents (e.g., PMS, POS, bank deposits) to confirm accuracy.
  • Contract Compliance Audits: Ensure that hotels comply with the financial obligations stated in the Hotel Management Agreements, such as the correct calculation of management fees and incentive fees.
  • Financial Risk Assessment: Identify discrepancies or irregularities in hotel financial reports and recommend corrective actions.
  • Internal Controls Review: Evaluate and recommend improvements to financial controls at managed hotels to minimize revenue leakage and fraud risks.

6. Taxation & Regulatory Compliance

  • Tax Compliance: Ensure proper tax treatment of management fees and compliance with local regulations.
  • Regulatory Compliance: Ensure adherence to financial regulations and accounting standards related to hotel management operations.

7. Internal Controls & Audits

  • Audit Support: Prepare audit schedules and support internal and external audits, ensuring compliance with financial reporting standards.
  • Fraud Prevention: Implement financial controls to safeguard against errors, misstatements, and fraudulent activities in hotel management books.

8. System & Data Management

  • Hotel Management System & Accounting Integration: Ensure accurate recording of transactions related to hotel management operations in financial systems.
  • Financial Data Management: Maintain organized records of financial transactions related to hotel management.

9. Liaison & Coordination

  • Work with Finance Teams at Managed Hotels: Coordinate with property-level financial controllers to reconcile management fees and ensure accurate financial reporting.
  • Supervise the Assistant Accountant: Provide oversight and guidance in maintaining hotel management books.
  • Coordinate with External Stakeholders: Liaise with banks, auditors, company secretariat, tax authorities, legal and insurance as needed for financial compliance.

Requirements:

  • Degree in Accountancy or ACCA qualifications
  • Mid-career with 7-9 years of relevant accounting review experience (ideally within the Hotel or Real Estate)
  • Proficient in Microsoft Office applications and have practical working experience with accounting software systems (Knowledge with Sun System an added advantage)
  • Require some level of supervisory experience. Accounts Executive will be reporting into the role
  • Hands-on with eye for detail, responsible and organised. A proactive "self-starter" who is keen to learn and pick up new challenges in a fast paced environment
Tell employers what skills you have

Taxation
Tax and accounting
SUN Accounting
Microsoft Office
Cash accounting
Consolidation
Annual Budgets
Tax
Accounting Period
Internal Controls
Accounting
Income Tax
accounting entries
accounting software
Team Player
Cash Flow
Tax Returns
accounting systems
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