Maintaining Financial Records:
Accurately recording and classifying financial transactions, including sales, purchases, expenses, and inventory.
Preparing Financial Statements:
Generating reports like balance sheets, income statements, and cash flow statements to provide insights into the company's financial performance.
Reconciling Accounts:
Ensuring accuracy and consistency in financial records by reconciling bank statements, accounts receivable, and accounts payable.
Budgeting and Forecasting:
Assisting in the preparation of budgets and financial forecasts to support strategic decision-making.
Tax Compliance:
Ensuring compliance with tax laws and regulations, including preparing and filing tax returns.
Auditing:
Participating in internal and external audits to ensure accuracy and compliance.
Diamond Industry Specific Responsibilities:
Inventory Management:
Managing and tracking diamond inventory, including valuation and cost accounting.
Costing:
Determining the cost of goods sold for diamonds, considering factors like carat, cut, color, and clarity.
Understanding Diamond Market Dynamics:
Staying informed about market trends, pricing, and regulations relevant to the diamond industry.
Handling International Transactions:
Managing financial transactions involving international trade, including currency exchange and import/export regulations.
Working with Diamond Grading Systems:
Understanding and applying diamond grading systems (4Cs) to ensure accurate valuation and accounting.
Working with Financial Software:
Utilizing accounting software and systems to manage financial data and generate reports.