Ahmed Fouad Saif Elnasr, senior Accountant

Ahmed Fouad Saif Elnasr

senior Accountant

Estee Lauder Companies ltd

Location
Saudi Arabia - Riyadh
Education
Diploma, Accounting and Finance
Experience
15 years, 8 months

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Work Experience

Total years of experience :15 years, 8 months

senior Accountant at Estee Lauder Companies ltd
  • Saudi Arabia - Riyadh
  • My current job since April 2019

Ensuring actual P&L/Balance Sheet provides a true reflection of Affiliate and Brand performance.
Responsible for the completeness, accuracy, validity, recording and reporting of Balance Sheet.
Oversight, review, and completion of monthly balance sheet reconciliations
Prepare and review Reconciliation of GL Accounts, preparing 'action-triggering' schedules, thoroughly reviewing the general ledger activities to flag any unusual transactions and taking timely action to resolve any issues.
Manage the monthly closing process and collaborate with the accounting team to ensure accurate and timely close in accordance with NY reporting deadlines including preparation of the Reporting Pack/ OneStream
Manage, plan of annual External Audit and ensure timelines on preparation of Financial Statement are met and take ownership
Ensure transactions are in accordance with IFRS, US GAAP, monitor appropriate internal controls and policies and in line with Sarbanes Oxley guidelines.
Assist of internal Audit to ensure that all processes are adhered to and compliant.
Ensure that there are agreements to support transactions such as Royalties, TSF.
Follow up on credit collection of customers, review all receipts received from the customers.
Ownership of all manual sales entries.
Review Set up credit limits for new customers and perform annual review of credit limits.
Ensure cash is optimized and propose actions for Working Capital improvements and sweep the money to International Central Bank in EMEA on regular basis.
Lead tax experience and dealing with Authorities in KSA
Review tax calculates according to laws, and regulations by required deadlines.
Provide guidance to Accounting and other departments on any required tax adjustments & tax advice.
Manages to preparation of different tax declarations (Corporate Income Tax, VAT, WTH and Transfer Pricing).
Manage tax audits and ensure adequate documentation is prepared.
Collaborate with Business manager to provide financial information.

Senior Accountant – Acting Chief Accountant at Automark Rental Co
  • Saudi Arabia - Jeddah
  • January 2016 to March 2019

• Preparation of monthly Financial Accounts, Flash report and Business Performance Review (BPR) to board of Director monthly.
• Overseeing and Review the daily operations of the accounting function for fixed assets, receivables, sales, cash and bank, GL and Sister Companies.
• Review of the supplier agreement, suppliers’ invoices, verify the supporting document to matched with regulatory compliance -VAT and process the payments on agreed payment terms
• Ensuring the accuracy of bookkeeping for the above mentioned areas, Checking/Reviewing of Journal Vouchers for correctness accounting basis, Creating month-end accrual journal entries for payable and accrued expense accounts and proper approval in Rental Software ( Proactive car rental system )
• Matching the GL and sub-ledgers of receivables, payable, fixed assets, and performing reconciliations in case of a difference.
• Posting All Rental Revenue, Deprecation, Receipt, Addition, Deletion of Vehicles From Operation Software to Accounting Software after Reviewing and checking with Operation department
• Prepare Payroll Sheet manually and Process the payment of monthly payroll, Vacation Salary, Ticket and Employees’ End of Service. Reconcile it between Accounting Records and HRM Module
• Upload Payroll Text file to Bank, Ensuring accurate and timely processing of payroll and matching it with Database in Minster of Labor & GOSI.
• Review Bank Reconciliation Statement and reconciling the balances with Sister Companies.
• Identifying and improving company internal control procedures
• Direct and control accountancy staff to ensure that they are appropriately trained and motivated and carry out their responsibilities to the required standards.
• Supervising and managing all aspects of the accounts department, including overseeing the flow
of work and ensuring that the deadlines and the departmental goals are met
• Prepare for financial audit and coordinate the audit process.


• Preparation and submission of monthly/Quarter VAT return through GAZT’s Website.
• Preparation & Meet all requests related VAT Inspection
• Assist Operation with needful required reports.

Senior Accountant | Acting Cheif Accountant at Balubaid Group of Companies
  • Saudi Arabia - Jeddah
  • April 2015 to December 2015

Acting Chief Accountant in Marsana (a subsidiary of Balubaid Group of Companies)


• Preparation of monthly Financial Accounts, Flash report and Business Performance Review (BPR) to board of Director monthly.
• Overseeing and Review the daily operations of the accounting function for fixed assets, receivables, sales, cash and bank, GL and Sister Companies.
• Processing of suppliers’ invoices, verify the supporting documentation and process the payments on agreed payment terms for review & Approval by Finance Manager
• Ensuring the accuracy of bookkeeping for the above mentioned areas, Checking/Reviewing of Journal Vouchers for correctness accounting basis, Creating month-end accrual journal entries for payable and accrued expense accounts and proper approval in Rental Software ( Proactive car rental system )
• Matching the GL and sub-ledgers of receivables, payable, fixed assets, and performing reconciliations in case of a difference.
• Posting All Rental Revenue, Deprecation, Receipt, Addition, Deletion of Vehicles From Operation Software to Accounting Software after Reviewing and checking with Operation department
• Run the Payroll in Oracle, prepare reconciliation between Accounting Records and HR Records and Process the payment of Payroll, Vacation Salary, Ticket and Employees’ End of Service
• Review Bank Reconciliation Statement and reconciling the balances with Sister Companies.
• Identifying and improving company internal control procedures
• Direct and control accountancy staff to ensure that they are appropriately trained and motivated and carry out their responsibilities to the required standards.
• Supervising and managing all aspects of the accounts department, including overseeing the flow of work and ensuring that the deadlines and the departmental goals are met
• Prepare for financial audit and coordinate the audit process.
• Assist Operation with needful required reports.

General Accountant at Balubaid Group of Companies
  • Saudi Arabia - Jeddah
  • February 2015 to April 2015

in Autozone (a subsidiary of Balubaid Group of Companies)

• Maintain the Oracle general ledger and subsidiary ledgers; ensure the ledger’s integrity with its subsidiary ledgers
• Review and process Accounts Payable Invoices to ensure timely, accurate entry and for appropriate documentation and approval prior to payment
• Support Inventory process, including physical inventory, cycle counting.
• Prepare monthly reconciliations of our payable reports and prepares month-end accrual journal entries for payable and accrued expense accounts
• Manage the reconciliation of Current Account intercompany balances with BGC sister companies.
• Prepare Monthly Bank Reconciliation and Coverage bank accounts according Monthly Obligation
• Manage the issuing, recording, reconciliation, replenishment, safeguarding, and accounting of petty cash of each Branch
• Maintain up to date filling all accounting documentations / Payment Vouchers / Purchases invoices for the concerned department and Keeping journal Vouchers and other financial records in properly arranged files
• Pro-actively identify and investigate variance and resolve questions within assigned area.

Using Software :- Oracle

Financial Accountant at ThyssenKrupp Xervon GmbH
  • Egypt - Cairo
  • November 2012 to February 2015

• Gather data from vendor invoices to ensure that billing information is accurate. Prepare billing invoices to customers and ensure the accuracy of the invoices through Confirmation of Cost Control.
• Process Credit Memos for any adjustment such as shortage, price discrepancy, discount, currency adjustment, tester allowances, uncollectible write-off.
• Run the credit memos in the sales order module and make sure the credit amount is reflected on customer’s account. Track credit memos tying them together with the chargeback deductions that are taken from customer payments.
• Track and investigate deductions (charge backs) from customer payments. Must verify with department managers to make sure we are being charged correctly for the chargeback. Need to dispute and negotiate if there is any discrepancy with chargeback
• Process Debit Memos to invoice or re-invoice for any adjustment on currency issues.
• Monitoring customer account details for non-payments, delayed payments and resolve system customer inquiries process adjustments and initiate collection efforts communication with customers via phone, email, mail or personally.
• Maintain accounts receivable customer files follow established procedures for processing receipts, cash etc.
• Maintain up-to-date billing system follow up, collection and allocation of payments carry out billing, collection and reporting activities according to specific deadline reconciliation of accounts.
• Prepare bank deposits investigate and
• Coordinate tasks and work with other departments; serve as a departmental role model or mentor; assign and ensure work tasks are completed on time and that they meet appropriate quality standards.

Accountant and Extrenal Auditor at Sherif Essa - Public Accountant and Tax Expert
  • Egypt - Cairo
  • July 2010 to October 2012

• Examine financial and accounting records, other documents, and tangible items such as plant and equipment and watching certain processes or procedures being performed
• Assist in delivering and monitoring multiple client engagements
• Preparation and review of Tax returns for corporate, sales and salary Taxes
• Performing the audit procedures to determine whether the financial statements have been prepared in conformity with International accounting Standards
• Preparation of accounts for the purposes of financial statements prepared in accordance with International Financial Reporting Standards for diverse range of industries :
o Fast Foods: El Tabie El-Domiati - Pizza Roma - Buffalo Burger
• Test some of the organization's internal controls
• Preparing Quarter and Year End financial statements (Balance sheet, Income statement and statement of cash flow).

Junior Accountant at IMAS Trading Inc
  • Egypt - Cairo
  • July 2008 to June 2010

• Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions.
• Prepare profit and loss statements and monthly closing and cost accounting reports.
• Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
• Analyze revenue and expenditure trends and recommend appropriate budget levels, and ensure expenditure control.
• Researching international suppliers based on price, quality, selection, service, support, availability, reliability, production and distribution capabilities, and the supplier’s reputation and history.
• Purchasing the highest quality merchandise at the lowest possible price and in correct amounts.
• Preparing purchase orders, solicit bid proposals, and review requisitions for goods and services.
• Processing purchase orders, handle pricing and contract negotiations and performing product and cost analyses.
• Obtaining quotations from suppliers, negotiating on price and placing orders.
• Creating and reviewing all correspondence, purchase orders for the import department.
• Coordinate with Management in Canada and Sharjah Airport International Free Zone (SAIF-Zone) - Sharjah United Arab Emirates to complete all required document to open branch In United Arab Emirates

Education

Diploma, Accounting and Finance
  • at The American University in Cairo,Business Studies
  • June 2011

Preparing Financial Statement A- Business Economics C+ Financial Management & Control C+ Managing People C+ Accounting Information System A- Management Accounting I A Management Accounting II A- Banking Operations A- Financial Reporting A- Financial Analysis A Corporate Reporting A Auditing & Internal Review A- Direct Tax A- General Sales Tax A

Bachelor's degree, Accounting
  • at Ain Shams University,Faculty of Commerce
  • July 2008

Specialties & Skills

Accounting
Ms Word
Ms Power point
Ms Excel
Ms Outlook
Accounting
Auditing

Languages

English
Intermediate

Memberships

Syndicate of Commercial Professions
  • Member
  • March 2009
General Register for Accounting and Auditing in Ministry of Finance - Egypt
  • Active Membership
  • October 2010

Training and Certifications

Diploma Of International Financial Reporting DipIFR (Certificate)
Date Attended:
January 2020