Assistant Manager – Accounts and Finance

Job Description

Title: Assistant Manager – Accounts and Finance

Company Name: MG Cotton Mills Ltd

Vacancy: 2

Age: 30 to 40 years

Job Location: Anywhere in Bangladesh

Salary: Tk. 25000 (Monthly)

Experience:

• 5 to 10 years
• The applicants should have experience in the following business area(s): Spinning

• Bachelor of Business Administration (BBA) in Accounting
• Master of Business Administration (MBA) in Accounting, Finance & Banking

• 5 to 10 years
• The applicants should have experience in the following business area(s): Spinning

• Age 30 to 40 years

The applicants should have experience in the following business area(s): Spinning Mills

a)      Strong knowledge of spinning production processes and workflow.

b)      Expertise in line balancing, productivity improvement, and manpower management.

c)      Leadership and team management capability.

d)      Analytical and problem-solving skills.

e)      Knowledge of production reporting and MIS systems.

f)       Communication and cross-functional coordination skills.

g)      Ability to work under pressure and meet production deadlines.

h)      Verify production data accuracy within ERP/MIS systems.

1. VAT and Tax Compliance

I)  VAT Returns: Prepare and submit periodic VAT returns (e.g., Return 9.1 for Bangladesh) within statutory deadlines.

ii) TDS and VDS: Ensure accurate deduction and deposit of Tax Deducted at Source (TDS) and VAT Deducted at Source (VDS) on vendor payments.

iii) Assessments: Coordinate with tax authorities, maintain compliance records (such as Mushak registers in Bangladesh), and handle VAT audits or notices.

2. Factory and Cost Accounting

i) Production Costing: Track the cost of raw materials (cotton/polyester), direct labor, and factory overheads to determine the exact cost per unit of yarn.

ii) Inventory Valuation: Monitor raw materials, work-in-progress (WIP), and finished yarn stock to prevent discrepancies and ensure accurate balance sheets.

iii) Variance Analysis: Review factory cost sheets and compare actual expenses against budgets to help management control operating costs.

3. General Finance and Reporting

i) Financial Statements: Prepare monthly, quarterly, and annual financial statements (Balance Sheet, Profit & Loss, Cash Flow).

ii) Ledger Reconciliations: Perform regular bank, vendor, and customer account reconciliations.

iii) Cash Flow Management: Monitor daily fund movements, handle trade loans, and manage accounts payable and receivable.

4. Audit and System Controls

i) Audit Support: Act as the primary liaison for internal, statutory, and tax audits.

ii) ERP and Software: Ensure daily financial transactions are accurately recorded in accounting software or Enterprise Resource Planning (ERP) systems.

iii) Internal Controls: Implement financial controls to prevent inventory pilferage and ensure adherence to company policies.