Deputy Accounts Officer (DAO) Job Description

C.V. Raman Global University, Bhubaneswar, Odisha

POSITION IDENTIFICATION

Title: Deputy Accounts Officer (DAO)

Immediate Supervisor: CFO
Indirect Supervisors –Vice President
Direct Reportees: Assistant Accounts Officers, Accountants
Working Relationship: College Heads, Department Heads, Business Heads
Job Location: CGU campus (http://cgu-odisha.ac.in/), Bhubaneswar

ABOUT C.V. RAMAN GLOBAL UNIVERSITY (CGU)

C.V. Raman Global University (CGU), Odisha is a nationally ranked university that takes pride in its
rich heritage. Spread across 110 acres of lush green land CGU, Odisha started as a degree level
engineering college named as C.V. Raman College of Engineering (CVRCE) in the year 1997 it now
offers 18 Undergraduate, 17 Postgraduate, 11 PhD and 01 Integrated MA with Ph.D programmes.

25 Centre of Excellence in collaboration with industry leaders across the board. The university today
has over 20 start-ups under its AIC & TBI incubation centre.

CGU, Odisha has been ranked among the top 100 engineering colleges by National Institute Ranking
Framework (NIRF), Ministry of Human Resource Development (MHRD), Government of India
consecutively for the last 05 years and also in National level outlook magazine. We have been
accredited by the National Board of Accreditation (NBA). Further, we have been recognized as
Scientific and Industrial Research Organizations (SIROs) by D.S.I.R., Government of India.

At present the C.V. Raman Global University has put together a robust plan for the next 4 to 5 years
which will accelerate the growth trajectory exponentially in which your role as DAO will be
extremely critical for the success of the growth plan. The university has plans to set up and
commence Medical College, Pharmacy, Nursing, Physiotherapy and Fisheries courses in Diploma,
Bachelor’s and Master’s Programme in its main campus in Bhubaneswar with the financial outlay of
over 300 Crores. We are also commencing our new campus in Jharkhand in the academic year 2022-
2023. The Executive Leadership team of the University is also in talks with the Government officials
in West Bengal and Gujarat with new campuses in the next five years. University has plans to
increase their International student’s recruitment intake from the current 20% to 70% yearly in the
next 4 to 5 years by recruiting from over 50 countries. University also has plans to increase its
current alignment to World Skills and Future Skills to over 40 Skills in the next 2 years’ horizon.

CGU takes pride in bringing academia and Industry, especially (MSME and Start-ups) to work
together for Experiential Learning, Research and Innovation. Thus leading to skilled employable
students.
GENERAL FUNCTIONS OF THE DAO

The Deputy Accounts Officer assists the CFO with ensuring that the financial reports of the
organisation reflects a true and fair view of the financial income and position and that accurate
information is passed on to the BOG. S/he will have to make sure that all the daily accounting tasks
are done with complete accuracy and correctness, proper entries are made for the invoices, all the
statutory compliances such as GST, TDS, Income tax and any other obligations are accounted and
settled for on time to mitigate the risk of penalties and fines.

The Deputy Accounts Officer is entrusted with a major responsibility for the accounting and
completion of financial statements on time.

The Deputy Accounts Officer helps to ensure the integrity, reliability, accuracy and consistency of the
financial statements before its presentation to the Board by contributing with leadership and
management of the following responsibilities and accountabilities:

1. Controller: Day-to-day accounting done with accuracy and completeness, ensure compliance
with applicable accounting standards, GAAP, accounting policies and practices while
following all the latest updates and amendments in the same.

2. Accounting: Accounts receivable and accounts payable processing, supervision of financial

transactions that affect the general ledger, and preparation of the financial statement of the
organisation.

3. Grant Accounting & Management: Proper accounting and administrative control on the
grants flowing towards the organisation to ensure proper and efficient utilization of funds.

4. Fund-flow management: Keep in check for all the day-to-day inflows and outflows of funds
in the organisation from all the sources and to ensure proper controls for risk of misuse of
such funds.

5. Budgeting: Assisting in the preparation of budgets and implementation of proper budgetary

controls throughout the organisation.

6. Statutory compliances: Income tax, GST, TDS, Customs and other statutory dues such as EPF,
ESI, and Gratuity etc. are timely filed and paid for.

7. Finalisation of Accounts: Ensuring accurate and timely, Y-o-Y and half-yearly finalisation of
financial statements with accuracy, completeness and reliability of the same showing true
and fair view of the accounts.

8. Financial Information Systems: In cooperation with MIS & IT Department, maintains and
upgrades computer systems which capture information required for internal and external
financial reporting.

9. Procurement: Create a database and track all purchases in the organisation so as to make
sure that proper documentation and approvals are present for the same before they are
accounted for along with ensuring all budgetary and internal controls are in place.
ESSENTIAL DUTIES AND RESPONSIBILITIES OF DAO

1. Ensures timely finalisation of accounts with accuracy and completeness so that it is

presentable to the senior management and can be relied upon for future decision making
regarding the financial aspects of the organisation.

2. Develops accounting organizational strategies by contributing accounting and financial

information, analysis, and recommendations to strategic thinking and direction; establishing
functional objectives in line with organizational objectives.

3. Assists the CFO in preparation of balance-sheet, profit-and-loss account, cash-flow

statement, shareholder reports and governmental agency reports for in-time audit
completion and finalisation of the same.

4. Evaluates and makes appropriate improvements to internal accounting processes ensuring

that practices are in line with the overall goals of the organization.

5. Making sure that the applicable accounting standards given by ICAI are followed while
preparing the day-to-day books along with GAAP and other reporting standards as well. Also
to keep one-self updated with all the latest additions, exclusions and all related
amendments on the same to keep the organisation’s books updated with the latest
practices.

6. Keep a regular check on the financial transactions and records on a daily basis to ensure no
risk of material misstatements are present and that the errors don’t lead to a snowball effect
in the accounts at the time of finalisation. Also to ensure that frauds, if any, are timely
reported to the audit team and senior management for proper action on the same.

7. Help in design and implementation of processes which clearly define the operations of
functions related to development and maintenance of university’s real-estate assets and
ensure proper accounting of the same is done along with a tracker of such expenses made to
be maintained for assistance in audits.-

8. Collect data regarding the utilization of funds from all the departments to which
grants/aids/other funds of such nature have been allocated and track the movement of the
expenses made in respect of such funds.

9. Reviewing daily invoices and bills before accounting for in the books of accounts to ensure
proper statutory calculations such as GST, TDS, TCS etc. as applicable and also to verify the
arithmetic correctness of the invoices.

10. Managing the financial records so that they are in compliance with the tax and accounting
laws applicable to the organisation and keep one-self updated with the latest amendments
on such laws.
 11. Evaluating the existing internal control systems in place and suggesting all the necessary
changes to be made in the accounting policies and practices such that they are in line with
the organisational long term as well as short term goals.

12. Working in close collaborations with the internal as well as external auditors to ensure
timely completion of audit and that no contingencies fall on the organisation because of it.

13. Shape the right strategy to the board and leadership team for the necessary sustainable
growth for C.V Raman Global University and various business units of the promoters of the
university. The goal is to protect the various business units’ revenues and profits to achieve
full financial control and sustainable growth for each and every business unit. Be the critique
of strategic choices including cost-benefit analysis of initiatives that the university wants to
implement in the short term and long term.

14. Keep an eye on the accounts payable and receivable items and help the finance team in
collection of accurate and timely data for preparation of analysis reports.

15. Enable departmental employees to perform their assigned tasks by overseeing the
preparation and implementation of the annual budget for accounting functions.

16. Facilitates a work environment that encourages knowledge of, respect for, and development
of skills to engage with those of other cultures or backgrounds, especially catering to the
international agencies and bodies, and international students.

17. Remains competent and current by reading professional journals and literature, developing
professional contacts with colleagues, attending professional development courses, and
attending training and / or courses as appropriate.

OPERATIONAL RESPONSIBILITIES

1. Handling payroll operations, receivables and payables management, coordination with

independent auditors/internal auditors, and coordinating with the collection of students’
and other dues to ensure proper and timely cash-flows.
2. In cooperation with Computer Services, maintains and upgrades computer systems which
capture information required for internal and external financial reporting.
3. Ensures completion of all necessary accounting entries in the books of accounts along with a
check on accuracy and fairness of the transactions.
4. Manages regular banking relationships, the check signing authority process, and alerts all
individuals and banks of any changes to authority.
5. Overseas reconciliation of banking and other necessary reconciliations done on a timely
basis to reflect the true balances of funds.
6. Makes sure timely deposit of cash funds collected into the designated bank accounts of the
organisation.
7. Prepares and submits all financial statements as required by law and by company policy.
8. Reviews Accounts payables and authorize their payments as and where needed.
9. Manage all the inflows and outflows related to petty cash balances with the cashier and
ensure proper daily reporting on the same.
 10. In coordination with the DFO, perform ageing and other accounts payables and receivables
analysis.
11. In cooperation with the CFO, conduct complex general ledger and bank account
reconciliations.
12. Review and post journal entries and month end accruals and prepare quarterly tax filings.
13. Assist the CFO in review of customer contract and work with customer on contract
negotiations.
14. Ensure the preparation and communication of weekly, monthly, quarterly, half-yearly and
annual financial statements.
15. Assist in the selection process of eligible and deserving staff in the respective department to
ensure high-standards of operation as and when needed.
16. Travel as and when the responsibility demands.
17. Ensure that all statutory obligations are met in time as per legal requirements.

DIMENSIONS & CHARACTERISTICS FOR THE DAO

The DAO is responsible for ensuring that the financial statements reflect a true and fair view of the
organisation and ensure compliance with all the standards and regulations applicable for the same.
As a DAO, strong numerical abilities and skills are needed along with a keen interest in dealing with
complex accounting situations, as well as a sound grasp of accounting standards, GAAP, general
practices and reporting frameworks along with statutory obligations such as taxation, EPF, ESI,
Gratuity etc. A DAO will have to have strong characteristics such as professionalism, self-reliance,
team-work, great oral and written communication as well as the ability to handle stress, be
dependable and decisive and have commitment towards the university.

FUTURE OUTLOOK FOR THE DAO

1. The DAO gets an opportunity to work for C.V Raman Global University as well as other
business entities promoted by similar promoters located in Odisha.
2. The DAO will have the opportunity to take up a larger role to work with the senior
leadership in the overall operational as well as functional growth of the organisation
throughout India.
3. The DAO can play a pivotal role for the C.V Raman Global University for building a
competent and capable finance team for making a CGU one of the best universities in India.

MINIMUM ACCEPTABLE QUALIFICATIONS

1. CA with minimum 5 years of related experience. A master’s degree in accounting would be

an added advantage.
2. The currently should be handling a senior management position in the accounting area of a
corporate (preferable for Profit), or a university or BIG FOUR public Accounting Firms.
3. Understanding of Accounting Standards, GAAP and international financial reporting.
4. Knowledge of accounting processes and audit.
5. Ability to convince and implement controls and processes to achieve organisational goals.
6. SAP/FICO or higher ERP certification would be an added advantage.
GUIDANCE FOR THE JOB DESCRIPTION

The intent of this job description is to provide a representative and level of the types of duties and
responsibilities that will be required of positions given this title. It shall not be construed as a
declaration of the total of the specific duties and responsibilities of any particular position.
Employees may be directed to perform job-related tasks other than those specifically presented in
this description.