Chief Accountant
Nagwa Company Limited
Total years of experience :21 years, 1 Months
Nagwa Company - A company specialized in the manufacture
of sweets with a gifting character and is considered the first in the
Gulf in its distinctive products. It has a factory in Kuwait and a
factory in Riyadh and more than 15 branches distributed in the
Gulf Area.
Budgeting:
Prepare accurate and realistic financial forecast of the company’s performance. Coordinating with various departments for departmental budget. Design effective budget models for departments and the entire company. Analyze financial information (e.g. revenues, expenditures and cash management) to ensure all operations are within budget. Present annual budgets to CEO, CFO.
Costing:
Proactively provide monthly cost reports to the business so that they are held accountable for their variances against forecast and budget. Work with the business to make sure that the latest forecast is as accurate as possible to ensure that variances are kept to a minimum. Review cost allocation of overheads, indirect costs and ensure it is accurate and in line with best practice and business needs. Review and analyses inventoryand margin reports, conduct research and perform analytical studies in regard to cost analysis and profitability. Implement, monitor and provide continuous improvement in the standard work procedures for appropriate cost accounting procedures and methods.
Reporting:
Prepare and review internal financial reporting packages for CFO, Prepare monthly Report including (BS, Cash Flow, P&L by region wise, P&L by Product wise, P&L by branch wise. Prepare Financial Reports Map with Trial Balance and all Notes.
Chief accountant.
Jamal Ahmed Mohammed Baghlaf Holding Group.
Jamal A. Baghlaf Holding Group. They have a group of companies operating in multiple sectors such as food, dates, poultry farming, egg production and fodder, in addition to the hospitality and real estate development sector.
:-key responsibility
Budgeting:
Prepare accurate and realistic financial forecast of the company’s performance. Coordinating with various departments for departmental budget. Design effective budget models for departments and the entire company. Analyze financial information (e.g. revenues, expenditures and cash management) to ensure all operations are within budget. Present annual budgets to CEO, CFO.
Costing:
Proactively provide monthly cost reports to the business so that they are held accountable for their variances against forecast and budget. Work with the business to make sure that the latest forecast is as accurate as possible to ensure that variances are kept to a minimum. Review cost allocation of overheads, indirect costs and ensure it is accurate and in line with best practice and business needs. Review and analyses inventory and margin reports, conduct research and perform analytical studies in regard to cost analysis and profitability. Implement, monitor and provide continuous improvement in the standard work procedures for appropriate cost accounting procedures and methods.
Reporting:
Prepare and review internal financial reporting packages for CFO, Prepare monthly Report including (BS, Cash Flow, P&L by region wise, P&L by Product wise, P&L by branch wise. Prepare Financial Reports Map with Trial Balance and all Notes.
Sanabel Alslaam Food Manufacturing Company is closed joint stock company has 110 branches and more than 10 factories primarily engaged in manufacturing variety of Arabian, western sweets, Pies and pastries, candles, chocolate cookies, cake and nuts
key responsibility
Reporting:
Prepare and review internal financial reporting packages for executive management, prepare monthly Report including (BS, Cash Flow, P&L by region wise, P&L by Product wise, P&L by branch wise. Prepare Financial Reports Map with Trial Balance and all Notes.
:Budget
Prepare accurate and realistic financial forecast of the company’s performance. Coordinating with various departments for departmental budget. Design effective budget models for departments and the entire company. Analyze financial information (e.g. revenues, expenditures and cash management) to ensure all operations are within budget. Present annual budgets to senior managers.
Costing:
Proactively provide monthly cost reports to the business so that they are held accountable for their variances against forecast and budget. Work with the business to make sure that the latest forecast is as accurate as possible to ensure that variances are kept to a minimum. Review cost allocation of overheads, indirect costs and ensure it is accurate and in line with best practice and business needs. Review and analyses inventory and margin reports, conduct research and perform analytical studies in regard to cost analysis and profitability. Implement, monitor and provide continuous improvement in the standard work procedures for appropriate cost accounting procedures and methods.
Preparing Bank Reconciliation and Other Sub Ledger Reconciliation.
Reconcile cash over 113 retail store and different local bank accounts. Investigating and resolve reconciliations discrepancies. Processing all External and Internal payments out using the online banking system. Cash/credit card reconciliations at individual store level and variance analysis/follow-up.
Preparing Fixed Asset Schedule and Depreciation Schedule
Manage and review Fixed Assets Register. Supervising the Recording and Tagging of fixed Assets. Applying Fixed Assets depreciation policy as per approved policy. Monitoring retirement and disposal policy of the fixed assets.
Preparing monthly Pay Roll GOSI premiums, EOSB .and Zakat Provision
Coordinating with HR Dept. for monthly payroll’s preparation. Approve payroll for payment and Posting after Controlling, calculating and coordinating with HR Dept. for monthly GOSI payments Controlling Employee Vacation calculation. Controlling EOSB calculations and final settlement of the terminated employee. Responsible for all Zakat obligations and certification.
Audit
Fully responsible to plan and organizing audit. Coordinating with internal and external auditors for reviewing and implementing their recommendations properly as per Saudi Organization for Certified Public Accountants (SOCPA).
Conducts year-end closing process and Managing accounting function activity
Plans, manages, coordinates, and implements the year and month end closing processes. Manage all activities relating to the accounting function including; new accounts opening, approval of accounting entries, chart of accounts validation and consolidation.
OPTC has 5 company owned brands and is the sole distributor for other international brand of food and nonfood item in KSA
Reporting.
Prepare monthly c management report (BS, Cash Flow profit &loses by region wise, P&L by Product wise, Contribution margin Report by Region Wise, Contribution Report by Brands, Contribution Report by product wise, Phasing P&L, Capex, Employee Report and Expense Analysis Report.
Prepare Monthly cost report & inventory margin report, Advice management to take appropriate action if any product is below then target contribution.
Supervising & Controlling Accounts Receivables and credit control. Reviewing sales Order and Sales invoice in Oracle system. Monitoring credit forecasts, credit summary, sales Debit note and sales discounts. Analyzing receivables policy & collections from customers thou ERP system.
Supervising and Controlling Treasury LC, LG, & Bank finances. Fully responsible for opening Letter of Guarantee, Import Letter of Credit and Domestic Letter of Credit. Monitoring its payment and record in ERP Accounting system.
Controlling and recording doubtful and its proper recovery.
Inventory Control: Develop and implement methods to maintain accurate inventory levels at the facility, Identify and optimize common inventory items among facilities. Develop and implement innovative methods to dispose of dead or obsolete inventory. Review disposal items prior to approval.
Supervising & Controlling Accounts Payable.
Review Supplier reconciliation, Supplier payment and liability creation process.
Audit: Responsible of Complete audit process. Plan and organize 3 quarterly review and final interim and audit.
Maintain Asset Register. Review Capex schedule, Asset addition during the year, Asset disposal report. Depreciation charge to cost centers.
Supervise monthly payroll. Analytically check payroll calculation & employee benefit at month end and approve payroll for posting and payment.
Staff management: Staff management and development.
Bank reconciliations: Supervise bank reconciliations, petty cash, expenses.
Budgeting: Preparing yearly budgeting and cash flow forecasts.
Month End Closing: Process month end activities and year end activities.
Monitor and manage Expense: Monitor and manage all expense within the allotted budget.
Cash Flow: Manage organizational cash flow and forecasting.
Accruals and Provisions: Ensure accruals and provisions are appropriately calculated and supported by evidences and documentations.
I was working as senior accountant and also deputize as the chief accountant during his absence.
Below is my job description.
Prepare and monitoring of budgets & Projection and monthly MIS report to find out variance between budgeted and actual figures of income and direct & indirect expenses. and all expenses.
Responsible for day to day finance and accounts operations, Review & approve payment vouchers & journal entries. Ensure the accurate and timely processing of positive pay transactions.
Establish and maintain systems for cost-sensitivity analysis and early-warning of cost-overruns
Monitoring the insurance policies for the staff & vehicles of the company, managing all activities related to the HR. administration & premises
Maintain fixed assets register and prepare depreciation chart of assets of the company
Handling Letter of Credits in all banks and all L/C related matters
Payable: Review Vendor Maintenance file, review all payments requests for suppliers and expenses “3 Way Matching” (i.e. invoice, purchase order, receipt note/delivery note & supplier contract) prior to payments approval. Review reconciles suppliers accounts.
Account Receivable Ageing Report analyzing, Credit sales Accounting and Introduction of Credit Control Forms and Procedures etc. for faster recovery of Overdue Debts from the Customers. Review new customers’ applications and credit limits.
Reviews sub-ledger of accounts receivable, accounts payable and inventory against general ledger as a month end activity
Responsible for Zakat and taxes returns preparation and queries to obtain final Zakat Certificate
.
Fully responsible of external Audit, Plan and Conduct Audit at the end of year.
-Four years Bachelor's degree in Accounting and Finance from University of Taiz from Yemen in (2000) . - Mini – MBA – Accounting & Financial Management ( I B S Training Academy ) - Advanced Training Diploma in Accounting & Financial (Cambridge college).