Job Overview
Primarily responsible for the preparation of the monthly group consolidation and group reporting pack to Viva Goods Company Limited (the parent company) which is listed on the Hong Kong Stock Exchange, and the preparation of IFRS 16 lease accounting across a multi-store portfolio.
Responsibilities
- Prepare the group consolidation and group reporting pack including disclosure notes to parent for monthly and statutory period ends under IFRS.
- Prepare consolidation elimination and foreign exchange translation.
- Involve in key audit matters such as impairment assessment and provisions.
- Prepare and update impairment model for store assets, right-of-use assets and intangible assets, including group overheads allocation and corporate assets allocation.
- Liaise with independent valuer for WACC valuation and other valuation item when necessary.
- Prepare the IFRS 16 figures for both reporting to parent and Clarks statutory reporting. Manage the third-party provider or internal property management system outputs as applicable.
- Coordinate with property team and regional finance team to ensure completeness and accuracy of lease data for a high-volume retail lease portfolio.
- Read lease agreements to identify the lease information for IFRS16 calculation, e.g. lease term, rent arrangement, break clause, etc.
- Review and assess the accounting treatment on new store leases, renewals, terminations and modifications.
- Maintain lease accounting records within the internal property management system and the platform provided by third-party.
- Discuss with property team on the interpretation of lease term for various jurisdictions.
- Assist in transition from third-party vendor to in-house property management system for all property records.
- Review balance sheet items, oversight interaction between intercompany sales and purchases and unrealized profit account and prepare reconciliations.
- Coordinate with finance teams to ensure consistency and accuracy in internal, group and external reporting.
- Manage audit queries related to key audit matters, lease accounting, group reporting pack and disclosures.
- Drive continuous improvement initiatives to enhance the efficiency and effectiveness of the finance reporting process, including automation and optimization of reporting workflows.
- Ad-hoc project work as directed by the senior leadership.
Skills, Knowledge and Experience:
- Professionally qualified accountant CPA/ ACCA/ CA or equivalent professional qualification
- 5 years experience in financial reporting or group accounting role
- Hands-on experience with IFRS 16 lease accounting is preferred
- Experience in International Financial Reporting Standards
- Ability to apply technical knowledge to every-day issues
- Good knowledge of finance structure; both commercially and from a legal/statutory perspective
- Highest standards of accuracy and attention to detail
- Strong analytical skills and commercial acumen
- Strong communication skill to work with colleagues from various departments/functions.
- A well organized and structured method of working
About Clarks
Clarks, based in Somerset, England, has been at the forefront of innovative shoemaking since its foundation in 1825 when brothers James and Cyrus Clark made a slipper from sheepskin off-cuts. Sparking revolutions and defining generations, Clarks archive of over 22,000 pairs includes the inimitable Desert Boot and Wallabee and a ground-breaking combination of invention and craftsmanship remains at the heart of what the brand does now. Cutting-edge collaborations with cultural icons and KOLs, taking strides in social change, reimagining legendary silhouettes, and making shoes that move with the world ahead Clarks is never standing still.
