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Finance
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JR-1052 Requisition #

Commercial Accountant

 

JOB DESCRIPTION

 

Key Responsibilities

 

Revenue / Debtor

Position Update & Monitoring

 

- Conduct regular meetings with Partners/Senior Lawyers to discuss their practice revenue and profitability, billing and debtors

status;

- Support Partners in making accurate valuation of "lawyer time" and debtor balances.

- Anticipate and report the revenue impact of the agreed provisions on the monthly Profit and Loss account.

- Analyse and present matter and client exposure assessments. Anticipate material write offs and uncollectable debts;

- Prepare the monthly billing & collection forecast and identify problematic areas for actions;

- Tidy up non-recoverable time & debtors to allow discussions on significant outstanding balances;

- Work collaboratively with other revenue analysts and controllers in the CC network to drive working capital best practice and

optimization;

 

Write Off Control & Management

 

- Establish an approval framework for write off and responsibility and communicate the procedure to Lawyers and Finance staff;

- Co-ordinate write off approval requests, by providing relevant financial information to Senior Leadership (North Asia

Finance Director/ Regional Managing Partner/ Regional CFO/Regional Practice Area Leaders);

- Follow up and keep track of all billing write off and bad debts and ensure any material amounts are brought to the attention

of North Asia Finance Director and Hong Kong Finance Manager. 

 

Co-ordinating Debt Collection

 

- Steer the monthly collection focus with the support of the collection officer and the Delhi collection team, including

calling and writing to clients directly and taking follow up actions;

- Proactively follow up on agreed internal actions. 

- Provide regular updates on collection status to prepare/support bi-monthly cash inflow forecasts;

 

Revenue Accounting & Control

 

- Prepare revenue (Income Billable Value) estimate by practice at month end and review matter WIP provision in compliance with IFRS15

Revenue Recognition;

- Liaise with controllers and Regional Business Managers ("RBMs") on the closing revenue position;

- Hold responsibility for all revenue related accounts (both P&L & Balance Sheet) including WIP, Debtors, bad debt,

WIP provisions, disbursement and performing monthly reconciliations & analysis monthly movements.

- Review unbilled disbursements account balances and disbursements written off on a monthly basis and investigate any

significant movements.

- Review and approve the relevant Keystone reports at month end and maintain the controls for working capital in compliance with

Group policies. 

- Support statutory & internal audits on revenue related accounts.

 

Reporting & Analysis

                  

- Assist partners and fee earners with pricing negotiations by providing accurate and relevant financial information;

- Set monthly billing and collection targets based on historical records; 

- Prepare monthly mid-month working capital updates including action points for current month material gain and pain items

on both WIP and debts; 

 

Others

 

- Be the first contact for Partners/Fee Earners and other Support Teams on queries relating to working capital and revenue;

- Look at any areas where working capital process can be improved;

- Provide training to relevant audience on our revenue economics and major revenue drivers;

- Any other tasks as assigned by the Controller as required.  

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