Chartered Accountant

1.Role Purpose

• To independently manage and ensure timely, accurate and compliant execution of key Finance & Accounts activities for a CRO / Pharma / Life Sciences business, with specific responsibility for financial reporting, consolidation, taxation, audit management, project / contract-based revenue recognition, accounting controls, treasury and regulatory compliances.
• The role requires close interaction with Operations, Project Management, Business Development, Commercial, Legal, Procurement, HR, Tax Consultants, Auditors, Bankers and overseas entities to ensure that financial transactions and business activities are appropriately captured, accounted for and reported.
• The incumbent will also be expected to identify financial / compliance risks, improve processes and support management in achieving accurate, timely and business-oriented financial reporting.

2.Key Responsibilities

Financial Reporting & Month-End Closing

• Manage timely month-end, quarter-end and year-end financial closing.
• Prepare / review Ind AS-compliant financial statements and supporting schedules.
• Ensure completeness and accuracy of all the activities
• Review financial ledgers and identify unusual / exceptional transactions.
• Ensure timely reconciliation of major balance sheet accounts.
• Support preparation of MIS and management reporting.

Revenue Recognition Ind AS 115

• This will be a critical responsibility for the role.
• Prepare / review monthly and annual revenue recognition workings in accordance with Ind AS 115. Understand customer contracts, Statements of Work (SOW), Work Orders, amendments and change orders. Ensure revenue is recognized based on the actual satisfaction of performance obligations.
• Identify Performance obligations, Transaction price, Variable consideration, Milestones, Contract modifications, Contract assets, Contract liabilities, Unbilled revenue, Deferred revenue.
• Coordinate with Project Management / Operations to establish project progress and performance status.
• Reconcile operational project data with billing and accounting records.
• Maintain appropriate documentation for auditor review.
• Ensure appropriate accounting of change orders, contract amendments and cancellations.

Consolidation & Overseas Entities

• Prepare / review quarterly and annual consolidation of subsidiaries / overseas entities.
• Review inter-company balances and transactions and ensure appropriate elimination of inter-company transactions.
• Support statutory auditors in consolidation-related matters.

Audit Management

• Coordinate and facilitate Statutory Audit, Internal Audit, Tax Audit, GST Audit, Transfer Pricing audit / assessment, Due Diligence, Internal control reviews, Customer / regulatory audits, wherever applicable.
• Ensure to Minimize audit adjustments, repeated observations and avoidable compliance gaps.
• Ensure compliance with applicable Ind AS and accounting policies.
• Identify process weaknesses and recommend improvements.
• Strengthen maker-checker controls and documentation.
• Ensure appropriate accounting controls across Indian and overseas operations.
• Assist in replies to show-cause notices, Appeals, Grievances, Regulatory submissions and Supporting documentation.

Ind AS 116 Lease Accounting

• Maintain lease accounting workings and calculate / review Right-of-use assets, Lease liabilities, Depreciation, Interest expense, Lease modifications, Reassessments.
• Ensure appropriate accounting and disclosures under Ind AS 116.

Treasury & Banking

• Coordinate with bankers regarding Working capital facilities, Credit facilities, Renewals, FCDL / foreign currency facilities, Documentation, Bank queries.
• Review Debtor ageing, Stock statements, wherever applicable, UFCE declarations, financial information, Bank renewal documentation.
• Support foreign exchange transactions and related accounting.
• Monitor banking compliance and documentation.

Management Reporting & Business Support

• Support CFO / Head Finance in management presentations.
• Provide financial inputs for strategic and operational decisions.
• Identify opportunities for improving financial controls, margins and cash conversion.

Critical Competencies

• The following should be treated as non-negotiable / high-priority competencies:
• Candidate must be able to independently understand and evaluate a service contract and determine appropriate revenue recognition as per applicable Ind AS
• Strong understanding of Ind AS financial statements, disclosures and year-end closing.
• Strong command over journal entries, provisions, accruals, reconciliations and balance-sheet scrutiny.
• Ability to independently coordinate with auditors and provide appropriate supporting documentation / explanations.
• Strong practical understanding of Income Tax, GST, TDS and Transfer Pricing.
• Ability to consolidate Indian and foreign subsidiaries.
• Ability to understand how clinical research / pharma projects are contracted, executed, billed and financially reported.