Lease Accountant APAC (IFRS 16)
Burberry Asia Limited
- Company Industries：Wholesale / Retail
Job Information
- Post Date：2022-06-13
- Career Level：Middle
- Location：Quarry Bay
- Yr(s) of Exp：4 years
- Qualification：Degree
- Employment Type：Full Time, Permanent
- Job Function：Accounting Accountant
- Benefits：Medical insurance, Performance bonus, Work from home, Five-day work week, Flexible working hours
Job Description
At Burberry, we believe creativity opens spaces. Our purpose is to unlock the power of imagination to push boundaries and open new possibilities for our people, our customers and our communities. This is the core belief that has guided Burberry since it was founded in 1856 and is central to how we operate as a company today.
We aim to provide an environment for creative minds from different backgrounds to thrive, bringing a wide range of skills and experiences to everything we do. As a purposeful, values-driven brand, we are committed to being a force for good in the world as well, creating the next generation of sustainable luxury for customers, driving industry change and championing our communities.
JOB PURPOSE
- Burberry, a global multi-billion-pound luxury fashion business, is seeking to hire Lease Accountant. The role is part of a new Burberry Business Services Finance organisation.
- The role is responsible for delivering accurate and timely accounting and reporting for property leases and associated costs for the in-scope territories in accordance with the Group Policies, IFRS and local GAAP requirements. Also, act as a key role in cash flow forecasting. In addition to relevant technical accounting expertise, this position requires the ability to work collaboratively with a variety of finance and non-finance colleagues.
RESPONSIBILITIES
- Working closely with Regional Finance, Legal and Property teams to prepare assessments of new and amended leases
- Work with legal team and on existing lease database e.g. lease on holdover, status of lease extract, lease accounting judgement form, CoStar update
- Prepare the lease tracker material for lease tracker meeting
- Organize the monthly lease tracker meeting
- Preparation of accounting Judgment form for new and amended leases based on the Lease Extract from legal and Investment Appraisal Model
- Work with regional finance team on the unclear lease accounting treatment based on IFRS 16 lease standard
- Review accounting schedules in Costar system for new and amended leases
- Supporting the end-to-end process of lease accounting
- Involvement in month end closing and reporting
- Preparing different financial analysis reports and forecasting
- Support the statutory audit in lease accounting
- Work with Procure to pay team on rental charges validation & rent clearance account reconciliation
- Work with wider RTR team members and provide accurate lease accounting as part of their entity lease accounting processes
- Maintain the dual reporting for local statutory and tax reporting
- Apply understanding of assigned accounting processes to identify gaps and propose continuous improvement measures.
- Ad hoc projects assigned
PERSONAL PROFILE
Qualification Requirements:
- Bachelor’s degree in Accounting / Finance or equivalent
- Professional accounting qualification/almost qualified status is essential i.e. ACA, ACCA, CPA or similar
- SAP working experience and knowledge and Business Planning and Consolidation (BPC) tool for Record to Report is essential
- Strong accounting and leadership experience with at least 4 years working in Accounting and Shared Services environment in Record to Report area
- Previous experience with IFRS 16 Lease Accounting in audit or multinational environment is highly preferred
- Ability to review and understand lease contracts
- Ability to work effectively with people across different functions
- Retail luxury fashion industry experience preferred
- Attention to details, good working attitude, well-organized, good communication skill, teamwork spirit, deadline driven, and customer services oriented
- Good command of both spoken and written English, Cantonese and Mandarin
- PC literacy, especially excellent knowledge in Excel and other MS Office applications
- Accounting or audit role within a large, listed, multinational company is a plus
- Excellent technical skills including solid understanding and awareness of IFRS 16 & IAS 17
- Has track record and appetite for delivering continuous improvement. Able to generate commitment to change amongst own team
- Can provide evidence of working collaboratively with peers
Behaviour:
- Has built strong and sustainable relationships with a range of external stakeholders and influenced them effectively. Can provide evidence of working collaboratively with peers
- Thinks conceptually and identifies and addresses future challenges and opportunities sometimes in an ambiguous environment. Needs to be comfortable in dealing with the numbers
- Has track record and appetite for delivering continuous improvement. Can provide examples of having led local changes as a means of reflecting strategic-level changes. Able to generate commitment to change amongst own team
Burberry is an Equal Opportunities Employer and as such, treats all applications equally and recruits purely on the basis of skills and experience.
Company Info
At Burberry, we believe creativity opens spaces. Our purpose is to unlock the power of imagination to push boundaries and open new possibilities for our people, our customers and our communities. This is the core belief that has guided Burberry since it was founded in 1856 and is central to how we operate as a company today.
We aim to provide an environment for creative minds from different backgrounds to thrive, bringing a wide range of skills and experiences to everything we do. As a purposeful, values-driven brand, we are committed to being a force for good in the world as well, creating the next generation of sustainable luxury for customers, driving industry change and championing our communities.
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