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For Companies At a Glance
- Tasks: Manage intercompany transactions and foreign exchange revaluation for accurate financial reporting.
- Company: Join a dynamic finance team focused on delivering reliable accounting solutions.
- Benefits: Enjoy a fast-paced work environment with opportunities for growth and skill development.
- Why this job: Be part of a crucial role that impacts the financial health of the Group while enhancing your accounting skills.
- Qualifications: Ideal for ACA, ACCA, or CIMA trainees with strong systems knowledge and attention to detail.
- Other info: Experience with Oracle Financials is a must; thrive in a collaborative and supportive team culture.
The predicted salary is between 36000 - 60000 £ per year.
The purpose of this role is to establish, operate, and maintain the financial accounting processes for intercompany transactions and foreign exchange revaluation for the Group. This role is accountable for delivering accurate, reliable, and timely books of account for the Group with respect to the items within the remit of the role. You will also be supporting the work of the Accountant Financial Reporting with respect to the production of financial statements and month-end reporting.
Accurately and promptly manage accounting for intercompany transactions each month. Record relevant journals in the appropriate entities within the Group. Reconcile the intercompany matrix, resolve any discrepancies during the month-end close. Calculate and prepare intercompany elimination journals for consolidation, ensuring accurate intercompany positions at all consolidation levels.
Coordinate the upload and maintenance of foreign currency exchange rates in Oracle. Ensure the accuracy of unrealised FX gains and losses generated via Oracle auto-revaluation. Validate journal entry accuracy and promptly post them to avoid month-end close delays.
The role includes preparing regulatory reports for collaborators such as CAA/ABTA/ATOL/ONS
Maintain up-to-date reconciliations, communicate with the department, control and document system/accounting process changes, and perform accurate accounting with minimal adjustments.
Day to day
- Responsible for posting intercompany journal entries into the general ledger and reconciliation of all intercompany positions at each reporting date
- Calculation and journal entries for intercompany eliminations at all levels of consolidation
- Other ad hoc month-end journal entries and tasks as required
- Responsible for the upload and maintenance of foreign currency exchange rates in Oracle
- Validating the accuracy of and posting into the general ledger unrealised FX gains/losses generated via the Oracle auto-revaluation
- Responsible for preparation of quarterly and annual compliance reporting as required by regulators, official bodies or other third parties
- Support the Financial Reporting team through the annual audit and year-end reporting cycle, including assisting with preparation of statutory accounts for the group and subsidiary companies
About you
- ACA, ACCA, CIMA trainee
- A good appreciation of accounting standards and double entry bookkeeping
- Strong systems knowledge and experience (mandatory). Understanding of Oracle Financials
- Ability to optimise processes, identifying weak processes and opportunities for improvement
- Experience of working within a fast-paced finance department or audit firm, resilient personality, and the ability to self-motivate
- Excellent written and verbal communication skills; ability to distil complex accounting/transactional flows or processes into clear simple messages
- Proven capability to prioritise work, working under pressure and delivering to tight deadlines
- Strong attention to detail and high analytical capability
- Strong on MS Office, in particular Excel
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Financial Accountant employer: Virgin Atlantic
Contact Detail:
Virgin Atlantic Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Accountant
✨Tip Number 1
Familiarize yourself with Oracle Financials, as this is a key requirement for the role. Consider taking online courses or tutorials to enhance your skills and demonstrate your commitment to mastering the system.
✨Tip Number 2
Brush up on your knowledge of accounting standards and double entry bookkeeping. Being able to discuss these concepts confidently during an interview will show that you have a solid foundation in financial accounting.
✨Tip Number 3
Highlight any experience you have in fast-paced finance environments or audit firms. Share specific examples of how you've managed tight deadlines and prioritized tasks effectively to showcase your resilience and organizational skills.
✨Tip Number 4
Prepare to discuss your analytical capabilities and attention to detail. Think of instances where you've identified process improvements or resolved discrepancies, as these experiences will resonate well with the responsibilities of the role.
We think you need these skills to ace Financial Accountant
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in financial accounting, particularly with intercompany transactions and foreign exchange revaluation. Use specific examples that demonstrate your understanding of accounting standards and double entry bookkeeping.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your qualifications such as ACA, ACCA, or CIMA trainee status, and emphasize your experience with Oracle Financials and your ability to optimize processes.
Showcase Your Skills: Highlight your strong analytical skills and attention to detail in your application. Provide examples of how you've successfully managed month-end close processes or reconciled intercompany positions in previous roles.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors. Ensure that your written communication is clear and professional, reflecting your excellent verbal and written communication skills.
How to prepare for a job interview at Virgin Atlantic
✨Showcase Your Accounting Knowledge
Be prepared to discuss your understanding of accounting standards and double entry bookkeeping. Highlight any relevant experience you have, especially with intercompany transactions and foreign exchange revaluation.
✨Demonstrate Systems Proficiency
Since strong systems knowledge is mandatory, make sure to talk about your experience with Oracle Financials. If you have worked with similar systems, share specific examples of how you optimized processes or resolved discrepancies.
✨Communicate Clearly
Excellent written and verbal communication skills are crucial for this role. Practice explaining complex accounting concepts in simple terms, as you may need to distill intricate transactional flows during the interview.
✨Prepare for Pressure Scenarios
Given the fast-paced nature of the finance department, be ready to discuss how you prioritize tasks and manage deadlines. Share examples of how you've successfully handled pressure in previous roles, particularly during month-end closes.
