Accountant (Music Industry)

Position Overview:

We are looking for a skilled and detail-oriented Accountant to join our dynamic team, a leading player in the music industry. The ideal candidate will have a strong understanding of accounting principles, as well as a keen interest in the entertainment sector. The Accountant will play a key role in managing the company’s financial operations, ensuring accurate record-keeping, managing royalty payments, and helping the company navigate the unique financial landscape of the music business.

Key Responsibilities:

Financial Reporting & Analysis:

• Prepare accurate monthly, quarterly, and annual financial statements, including profit & loss statements, balance sheets, and cash flow reports.
• Provide financial analysis on key performance metrics, including revenue streams from royalties, licensing, streaming, and live performances.

Royalty & Licensing Management:

• Oversee the calculation and distribution of artist royalties, including tracking earnings from streaming platforms, licensing deals, and public performances.
• Ensure accurate payment processing and ensure compliance with contractual terms for artists, producers, and other stakeholders.
• Manage and track licensing income, ensuring that all revenue is accounted for and accurately reported.

Accounts Payable & Receivable:

• Manage accounts payable for vendor invoices, including music production companies, equipment suppliers, and service providers.
• Manage accounts receivable by tracking payments from distributors, streaming services, and other income sources, ensuring all transactions are properly recorded.

Budgeting & Forecasting:

• Assist in the preparation of annual budgets for the company and individual music projects, forecasting revenue and expenses.
• Monitor budget adherence for artists’ advances, recording costs, tour expenses, and other operational costs.

Tax Compliance & Reporting:

• Assist with the preparation of tax returns, including VAT, sales tax, and any other tax obligations related to the entertainment industry.
• Stay informed on tax laws relevant to the music industry, including international tax considerations for royalties and licensing.

Audit & Financial Control:

• Prepare documentation and reports for internal and external audits, ensuring compliance with accounting standards and regulations.
• Ensure proper controls are in place to safeguard company assets and financial data.
• Identify opportunities to improve financial processes, especially those related to revenue recognition, royalty calculations, and reporting efficiency.
• Implement best practices for financial operations within the unique context of the music industry.

Qualifications:

Education:

• Bachelor’s degree in Accounting, Finance, or a related field (required).
• CPA or similar professional certifications are a plus.

Experience:

• 2+ years of accounting experience (preferred), with at least one year in the entertainment or music industry (preferred).
• Familiarity with music royalty systems (e.g., SoundExchange, PRS for Music, ASCAP, BMI) is a plus.
• Experience with accounting software (e.g., QuickBooks, Sage, or industry-specific platforms) is essential.

Skills:

• Strong knowledge of accounting principles (GAAP or IFRS) and financial reporting.
• Understanding of music industry revenue streams and the financial aspects of music contracts.
• Excellent organizational and time management skills, with the ability to handle multiple tasks and deadlines.
• Proficient in Microsoft Excel and other financial software applications.
• Strong analytical skills with attention to detail and accuracy.
• Excellent communication skills, both verbal and written.

How to Apply:

All applications will be received and Reviewed through BrighterMonday Portal by Clicking on the 'Apply Here' section