Chief Accountant
Salem Balhamer Holding GroupDAMMAM
Total years of experience :15 years, 1 Months
- Assist in the development and implementation of goals, policies, priorities, and procedures relating to financial management, budget, accounting, and/or payroll.
- Supervises and participates in the preparation of financial statements and reports.
- Enters or directs the entry and maintenance of accounting records to show receipts and expenditures.
- Maintains general and subsidiary ledgers, accounts receivable, revenue distribution, depreciation, cost, property, and operating expenses, and insurance records.
- Directs, conducts, and/or participates in cost analyses and rate studies.
- Prepares statements and reports of estimated future costs and revenues.
- Review of accounting and administrative controls.
- Establishes system controls for new financial systems and - develops procedures to improve existing systems.
- Coordinates preparation of external audit materials and external financial reporting.
- Reviews financial statements with management personnel.
- Manages the deployment and maintenance of new accounting, timekeeping, payroll, inventory, property, and other related procedures and controls.
Monthly Reports and Activities:
1- Submitting Monthly Consolidated Financials for the Factories and Trading Company
2- Participating in Cost Elimination Program for the factories
3- Establishing New Costing System with Coordination of the new Production Techniques
4- Monthly production Formula and Investigating the Differences
Handling Cycle Letter Of Credit & Bill Advice & Letter Of Credit Adjustment.
Follow Up& Preparation All Accounts Related To Notes Payable& Reconciliation.
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Preparation of monthly and quarterly financial reports ( Income Statements, Balance sheet, Cash Flows, Change of Equity )
- Coordinate the preparation of financial statements, financial reports, special analyses, and information reports.
- Cost Volume Analysis ( CVP).
- Provide top management with relevant data and analysts to assist them in decision making.
- Providing timely, consistent and accurate financial reports
- Provide financial and investments analysis to support investments decision.
- Experience in leading and managing engagements in one or more of the following areas:
business valuations, financial feasibility studies services. and financial advisory
- Evaluate investment plans and budgets for new projects and make assessment on funds requirement and return on investment.
- Study and analysis financial statements to determine the need of fund resources and amounts.
- Study and analyze facilities agreements for the whole group and reporting for higher level of managements.
- Control and manage all subsidiaries and affiliates cash flow and facilities.
- Control banks settlements and negotiated facilities elements.
- participation in Obtained financing with lenders, for 800 million for improvement projects, real estate, manufacturing, and building
My Significant Contribution and Achievements in Treasury and Cash Management
- Managing banks transactions and facilities by reviewing and control facilities limits, engaged with banks on timely bases to review and renewed facilities agreements.
- Directly engaged in subsidiaries financing requests, approved and manage accordance to projected and actual group cash flow.
- Managing the cash inflow and outflow and preparing cash flow statements.
- Study and analyze facilities agreements for the whole group and reporting for higher level of managements
- Examines financial covenants and related compliance.
- Participation in obtaining a long-term loan from the Saudi Fransi Bank (120MN) to buy the Al Faisaliah Compound in Dammam (108 villas, )
- Participation in obtaining a long-term loan from AL-RJHI Bank (150 MN) to build Salem Balhamer Tower in Dammam.
- Participation in obtaining a long-term loan from NCB Bank (180 MN) for rescheduling short term loans
- Participation in obtaining a long-term loan from Kuwait finance house Bank (12MN BHD) to buy Bella Vista in Manama, Bahrain.
Monitoring Interest rates and arrange deals with bank to Generate revenues for the treasury department and Executing Salem Balhamer foreign payments under Best FX rate
Managing and supervising the timely preparation of statutory books of accounts, financial statements and annual reports in compliance with prescribed accounting standards.
- Managing banks transactions and facilities by reviewing and control facilities limits, engaged with banks on timely bases to review and renewed facilities agreements.
Qualification skills
References
- Managing budgets and conducting variance analysis to determine difference between projected and actual results and implementing corrective actions for each project individually and for all the company(consolidation)Directly engaged in subsidiaries financing requests, approved and manage accordance to projected and actual group cash flow
- Preparation of vacation, EOSB payments after analyzing.
- Preparation and analyzing of JVs.
purchase report on the previous day
- purchase orders issued
- sales reports, collection and accounts receivable balances
- daily reports about the movement of the cash flow of cash in hand and at banks
- other reports required by the management according to their needs
- Budgeting / Forecasting/ Reporting / Cash Management and Collection
Accounting diploma in preparing budget for company.
- Computerized financial accounting includes how to create the journalist, ledgers by excel sheet and how to create the financial reports by excel sheet. Computer for serving the management including inventories sales
- Strong background accounting and financial analysis.
- Strong analytical, leadership, communication, interpersonal and planning skills.
- Strong knowledge of International Accounting Standards and International Financial Reporting Standards. Familiar in using windows, MS office, internet, and any other accounting and statistical programs.
- Inventory Management
- G/L/Accounts Receivable / Accounts Payable
- Heavy Account Reconciliation
- Financial Statement
- Letter of Credit
courses: CMA – Holder - Certified Management Accountant IFRS diploma on progress with instructor MR.Yasser Sholkamy Attended many intensive training programs seminars that participationwith National Commercial Bank, bank Al-Rajhi, GIB ,Sabb, Investment bank and Bank Aljazeera