Accounting
Efficient processing and implementation of reports, statements and financial schemes to ensure high-quality financial information and service to help the growth of the organization
Type
Functional
Competency Area
Financial and Transaction Management
Levels
Demonstrate awareness and knowledge of organizational accounting standards
Demonstrate awareness and knowledge of the professional accounting standards.
Demonstrate understanding of basic principles and application of income-tax and pension schemes
Understand and describe the main elements of financial statements and reports
Understand general compliance requirements and provide accurate and timely financial submissions
Demonstrate understanding of basic features of the digital ecosystem within which cost management and transformation takes place (PFMS and Employee Information System (EIS)
Demonstrate a working knowledge of the organisation’s information systems environment (hardware, software and networks)
Perform all activities within the payables process
Perform month-end close activities and provide accurate and timely financial submissions
Prepare flash figures of receipts, payments, and deficit to the Ministry of Finance through the Public Financial Management System (PFMS)
Prepare necessary statements and reports in compliance with reporting requirements
Prepares necessary bills and claims (Overtime Allowance (OTA) Bills and Conveyance Bills, Contingent Bills & Contingent Advance Bills )
Guides settlement of Pension and other retirement benefits, General Provident Fund and other personal claims of the employees working in the Ministry.
Guides payments, compilation and consolidation of Monthly and Annual receipts & expenditures of the Ministry
Review tax returns to ensure accuracy, completeness and compliance with applicable tax codes; propose solutions to a certain business tax matter
Assist in maintaining computer literacy on applications critical to the effectiveness and efficiency of internal accounting processes and procedures
Assist in developing and implementing new accounting and reporting pronouncements and determine the resulting impact
Develop Provisional Accounts of the Government of India within two months of completion of the financial year from the PFMS
Lead the implementation of financial schemes in compliance with reporting requirements
Lead implementation of Public Financial Management System (PFMS) and integration with Financial Management Systems of States
Lead the implementation of schemes through the PFMS like PM –KISAN Yojana and direct benefit transfers
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Supervise the preparation of Statement of Central Transactions, Appropriation Accounts, and Union Finance Accounts.
Lead the rollout of grant schemes like Expenditure, Advance & Transfer (EAT) module for implementing agencies receiving Grants-in-aid under Central Sector Schemes/Centrally Sponsored Schemes from the Ministry is also being implemented.
Lead implementation of technology upgrades/enhancements like Public Financial Management System (PFMS) and Employee Information System (EIS)
Develop, manage and execute plans for implementation of new or updated accounting and reporting pronouncements
Oversee and improve implementation of financial schemes and reports
Manage income tax matters innovatively and strategically; recommend and advise on solutions for complex tax projects or deals affecting more than one jurisdiction.
Identify potential issues associated with unusual or complex transactions, review and approve the appropriate treatment.
Recommend new systems to automate and improve existing processes, using emerging digital technology to best effect.
Set the organisation tax accounting standards and resolve unusual and complex tax accounting issues in accordance with applicable accounting standards
Monitor the use of PFMS for reports and implementation of scheme