Daily Operation and Supervision of Subordinates
- Manages daily operation with instructing staff accountants to prepare A/P, A/R and G/L data entries.
- Authorizes corporate check issuance, ACH, and wire.
- Performs fund transfers for the payroll funding and other payments.
- Preparing payroll data and making arrangement with the payroll company with respect to the payroll processing.
- Funding for and maintaining 401K program, including updating employee payroll data and preparation of forms and returns in compliance with IRS
- Sales Tax filing
- Monitoring all expenses in comparison with the monthly budget
- Instructing the subordinates to monitor the asset addition and deletions monthly.
- Resolving disputes with vendors in order to keep the company’s credit in good condition
- Responds inquires related to tax compliance (sales tax or other tax) to department of Sales & Marketing and management with CPA.
Monthly Closing and Reporting
- Closes A/R with processing customer invoices
- Closes a book monthly with General Ledgers to record payrolls, depreciation, amortization and other monthly adjustments with subordinates under your supervision
- Finalizes the Trial Balance. Prepares and reports several financial reports, monthly financial statement (BS, PL, CS) to management.
- Participates in monthly meeting and reports to managements for financial information and monthly activities and events affecting the financial condition of the company.
- Prepares and presents the quarterly financial data and materials to headquarters in Japan for consolidated Financial Statement.
- Adjusts entries to finalize quarterly trial trial balances
- Participates in meeting with auditors to internal auditor regarding quarterly activities and events affecting the financial condition of the company if need.
Quarterly Report and Annual Report to CFO and Vice President, Corporate Planning & Operation
- Verifies the quarterly transactions with accounting department of Japan Headquarters and closes a book.
- Reports the final quarterly and annual trial balances and backup data for the key accounting items to Japan Headquarters in accordance with its instructions.
- Reports the quarterly and annual profit and loss results.
- Verifies the annual transactions with accounting department of Japan Headquarters and closes a book.
Responsible for Federal, Local and Municipal Tax Related assignments, including but not limited to:
- Preparation of various tax returns and forms such as 1099, 1042, commercial rent tax returns and sales & use tax returns
- Initiating discussions with external tax accountants to determine the estimated tax amount of the Federal and local corporate taxes
- Instructing external tax accountants to prepare the annual tax returns and reviewing and filing the same
- Having external tax accountants finish the annual tax returns to be approved by the General Manager for the filing with U.S. tax authorities
Transfer Pricing Related
- Prepares data and financial results for Transfer Pricing related matters to CPA and Headquarters in Japan.
- With CPA, completes Transfer Pricing Documentation for income tax purpose.
Business Planning & Budgeting
- Participates in business plan and prepares annual budget.
- Monitors the company’s cash balance, forecasts the cash balance position in short term & long term, and reports to management.
- Handling issue with the banks.
Audit Preparation and Presentation to Auditors, if required.
- Prepares and handles the auditors in relation to the annual financial data.