Head Of Accounting KRA/KPI

Key Responsibility Areas (KRA) & Key Performance Indicators (KPI) for Head Of Accounting

1. Financial Reporting and Analysis

KRA: Ensuring accurate financial reporting and providing insightful analysis for strategic decision-making.

Short Description: Overseeing financial reporting and analysis processes.

• Timeliness of monthly financial reports submission
• Percentage variance analysis accuracy
• Adherence to accounting standards (GAAP/IFRS)
• Quality of financial insights provided

2. Budget Planning and Control

KRA: Developing and managing budgets to align with organizational goals and controlling expenditures effectively.

Short Description: Budget planning, monitoring, and control.

• Variance between actual and budgeted expenses
• Accuracy of budget forecasts
• Identification of cost-saving opportunities
• Budget compliance and adherence

3. Internal Controls and Compliance

KRA: Establishing robust internal controls to safeguard assets and ensure compliance with regulatory requirements.

Short Description: Ensuring internal control effectiveness and compliance.

• Audit findings resolution time
• Number of internal control deficiencies identified
• Compliance with tax regulations
• Effectiveness of fraud prevention measures

4. Cash Management and Treasury Operations

KRA: Managing cash flow efficiently, optimizing liquidity, and overseeing treasury activities.

Short Description: Efficient cash management and treasury operations.

• Cash conversion cycle duration
• Investment yield on excess cash balances
• Accuracy of cash flow forecasts
• Treasury risk management effectiveness

5. Financial Systems and Process Improvement

KRA: Enhancing financial systems and processes to streamline operations and promote efficiency.

Short Description: Driving financial systems improvement initiatives.

• Implementation of automation tools
• Reduction in manual processing time
• User satisfaction with financial systems
• Number of process improvement projects completed

6. Stakeholder Relationship Management

KRA: Building and maintaining positive relationships with stakeholders, including executives, auditors, and regulatory bodies.

Short Description: Effective stakeholder relationship management.

• Stakeholder satisfaction survey results
• Timely response to stakeholder inquiries
• Number of successful stakeholder engagements
• Feedback from external audits on stakeholder interactions

7. Team Development and Leadership

KRA: Providing mentorship, guidance, and development opportunities to the accounting team for professional growth.

Short Description: Fostering team development and leadership.

• Employee satisfaction and retention rates
• Training hours per employee per year
• Team performance against KPI targets
• Number of promotions within the team

8. Risk Assessment and Mitigation

KRA: Identifying financial risks, evaluating their impact, and implementing strategies to mitigate potential threats.

Short Description: Risk assessment and mitigation planning.

• Number of identified risks vs. mitigated risks
• Effectiveness of risk mitigation strategies
• Adherence to risk management policies
• Impact of risk mitigation on financial performance

9. Cost Analysis and Cost Control

KRA: Analyzing costs, identifying cost drivers, and implementing measures to control expenses.

Short Description: Cost analysis and control initiatives.

• Cost reduction initiatives implemented
• Variance analysis of actual vs. budgeted costs
• Cost-saving ideas generated and implemented
• Cost per unit of production/service trend analysis

10. Strategic Financial Planning

KRA: Contributing to the development and execution of strategic financial plans to support organizational growth and sustainability.

Short Description: Strategic financial planning and execution.

• Alignment of financial goals with organizational objectives
• Accuracy of financial forecasts for strategic initiatives
• Contribution to revenue growth targets
• Success in securing funding for strategic projects