£350 - £450 per day
2 months ago
Group Reorganisation AD
Following an announcement for a major reorganisation, our client requires interim support to the Group Finance leadership team and specialist contractor support. The project includes the incorporation of new legal entities; transfer of businesses between entities; transfer of legal ownership of entities within the Group; and settlement of intercompany balances between the Group and disposed entities.
This role will work closely with the project leads in Group Company Secretary, Group Legal, Group Tax and Group Accounting to project manage and prepare the necessary accounting entries to reflect these reorganisations in the accounts and financial consolidation of the Group.
- Join project team to manage and contribute accounting input into the delivery of the reorganisation step-plan by co-ordinating with Group Legal, Group Tax, Group Treasury, Group Accounting, Group Corporate Secretary and local statutory and compliance teams to ensure compliance with local requirements including:
- consideration of historical investment cost, market value and consideration allocation;
- adequacy of distributable reserves etc.
- work with Group Accounting to calculate and populate the developed common template for moving existing entities around the Group considering accounting matters such as: standard double entries, e.g.;
- disposal of investments and statutory gain/loss under UK GAAP;
- clearance of intercompany balances where appropriate;
- treatment of pre- and post-transfer reserves. et c.
- repatriation of cash or other cash flows to enable local compliance for transfer of business;
- migration of other key balance sheet balances and supporting ledgers to enable business transfers (such work that can be achieved through accounting entries)
- Close communication with IT systems teams performing data migration contract / supplier / customer / masterdata set-up et c).
- Careful completion of the template for each entity to generate BYD-compliant journal entries in accordance with . journal entry requirements including appropriate accounting support so that can be passed to the General Ledger team for entry;
- Investigation of results in the SAP BYD ERP system once entries are posted against expected outcome and resolution of any queries and other issues;
- work with Group legal entity accountant (Edwin de Lange, based in Rotterdam, NL) as a resource and team member to ensure he gains experience in Group reorganisations and use of the template to inform future changes after the completion of the reorganisation project.
For clarity, this role does not include responsibility for:
- the creation of new entities in the Group's ERP system or setup of system records in those new entities to allow, for example, time recording and billing;
- work to register or create the new legal entities required structure with local authorities;
- the data migration of all entity accounting balances in subledgers and contract details into new entities on novation or migration;
- the update of . Group's statutory and sub-consolidation structures and automated consolidation entries in the Group's reporting software.
[Essential] Prior experience of the project management and accounting aspects of a Group legal reorganisation project and the associated impact on the financial consolidation for an international multicurrency business.