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Job Information

Philips Senior Accounting Specialist - LSP, R2R in Chennai (ex Madras), India

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In this role, you will have the unique opportunity to

Ensure the right accounting for Large Scale Projects all over EMEA.

You will also build the right control environment, together with the markets, supply chain and key account managers, to ensure that correct accounting and managerial info can be provided.

Your responsibilities

  • Work together with the Large Scale Projects (LSP) financial reporting team to determine the accounting treatment for each large scale & special projects

  • Determine and maintain an accounting model (projected revenues, OIT, expected manual journal entries, fair value allocations) in line with IFRS requirements and based on the commercial cash flow model

  • Set up the accounting model in SAP

  • Create monthly reporting on status & changes of LSPs & special deals per market and their subsequent accounting impacts (both P&L and Balance positions, as well as statistical e.g. OIT)

  • Point of contact for external & internal audit

  • Work together with market BP and /or Head Of Finance, Accounting controller to ensure the required internal controls and lessons learned are deployed in the market (e.g. approval flows of non-standard T&C’s, contract changes)

  • Work together with LSP Business Process Owner to define standards for LSPs both in SAP and subsequent accounting methodology

You are a part of

The EMEA large scale projects accounting team. You will Work closely with market LSP project manager, LSP business controller/BP, Philips Capital, CFC manager, Accounting controller to timely determine project & contract changes and subsequently update the underlying accounting model.

Philips is entering more and more into multiyear large scale projects and partnerships with customers. This covers deals reaching values of 50M and more and running over multiple years. These deals are often tailor made containing non-standard terms and conditions and are quite dynamic resulting in a lot of contract changes

To succeed in this role, you should have the following skills and experience

Bachelor or Master degree in Economics-Finance-Accounting

8 years of experience in accounting (projected revenues, OIT, expected manual journal entries, fair value allocations) in line with IFRS requirements

SAP proficiency

Statuatory accounting and Fiscal regulation knowledge

Excellent communication and influencing skills

Drive and proactivity

In return, we offer you a unique opportunity to:

  • work for an employer whose activities have a major positive impact on people all over the world;

  • discover how you can actively contribute to innovations that matter;

  • launch and steer your career in an environment with an astonishing diversity of nationalities, skills and backgrounds;

  • learn about different parts of the organization;

  • strengthen your capabilities and knowledge;

  • build a great international network

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