Specialist - Accounting & Reporting
Mobiink - Pakistan Mobile Communications Limited
Total years of experience :15 years, 3 Months
Effective management of monthly closing and reporting process in order to meet the deadlines specified by the group and posting timely and accurate closing journal entries to ensure all financial reporting properly reflects such accruals and adjustments along with the ageing of accruals to ensure long aged accruals are identified and eliminated.
Ensuring all the transaction and events are accounted for in accordance with the requirements of International Financial Reporting & International Accounting Standards (IFRS & IAS), giving special attention to complex accounting treatments of Technical Contracts such as Leaselines, Cell Site repair & maintenance, Site rentals including Right of Way etc.
Preparation of monthly individual and consolidated management accounts including variance analysis with budget and historic management accounts
Managing the reconciliation of different modules and subsidiary ledgers with General Ledger and maintenance of audit schedules
Ensuring compliance with group accounting and reporting manual
Maintenance of Chart of Account and monitoring of General Ledger health;
Part of the Finance 4 Performance project which is focused on Fast Closing across the group to ensure accurate monthly closing is done by 2nd day of subsequent month; and
Liaison with the external auditors throughout the audit process, in order to get the unqualified report on financial statements.
Preparation of monthly financials (Balance Sheet, Profit & Loss and Cash flow), Segment wise Profit & Loss for Branchless Banking and Branch Banking along with dashboards including graphs for all business KPIs and presenting directly to the CFO.
Preparation of monthly Management Report for group and internal purposes containing all volume and price variances of all key revenues and costs showing a 360 degree view of whole business performance and trend analysis.
Preparation and submission of VimpelCom Group Quarterly Reporting packages.
Training and implementation of Oracle Global Reporting Solution (Hyperion) in VimpelCom Head Quarter - Amsterdam (attended all three rounds) for group reporting.
Uploading of trial and Balance Sheet Movements on Oracle Global Reporting Solution - Hyperion on monthly basis, enabling system to perform global consolidation of all OpCos.
Maintaining liaison with parent for timely booking transactions incurred by either party for reconciling Inter-company accounts.
Preparation of Cash Reconciliation and uploading on Tm-5 global treasury module of VimpelCom.
Calculation of income earned from treasury instruments and its booking into appropriate GL codes.
Complete overhauling of Finance Policy and Procedure Manual to incorporate all changes in workflow methodologies made since inception.
Worked on a special assignment of implementation of Microsoft Dynamics ERP general ledger, fixed assets, management reporter module and established integration between Core Banking Solution Temenos T-24.
• Monitoring the data integration of branches between Integrated Banking Application (IBA) and GL module pertaining to full service banking operations including disbursements, recoveries, deposits, withdrawals and clearing transactions;
• Checking of financial vouchers (BPVs, CPVs, JVs, accrual, /prepaid reports) and supervising their accurate entry into the GL;
Ensuring execution of timely and accurate month end procedures to finalize precise monthly management reports;
• Performing review of bank, cash in hand and petty cash reconciliations of branches to ensure their accuracy and timely adjustment of reconciling factors (if any);
• Preparing reconciliation between Integrated Banking Application and GL module numbers to identify anomalies (if any);
• Preparing monthly reconciliations between GL account balances and Credit Management System numbers of loan disbursements and recoveries to identify differences in mark up, provisions, disbursements and recoveries to ensure their timely rectification (if required);
• Supervising the CMD excess cash management desk and preparing its month end reconciliation to ensure timely and accurate transfer of funds to head office from branches for further utilization into treasury functions;
• Assisting superiors in devising new accounting policies for new products keeping in view the IAS, IFRS and best industrial practices and ensuring updation of Bank’s Financial Policy & Procedures Manual accordingly;
• Reviewing of daily transaction listing of branches out of Integrated Banking Application for identification and rectification of anomalies (if any);
• Carrying out monthly variance analysis with reasoning of income, expenses, cash, disbursements, recoveries at branch and corporate level to ensure budget compliance and identification of any unusual trends;
• Consolidating, reviewing and forwarding fund projections of branches to Fund Accountant.
• Developing the audit strategy and audit plan which in turn included obtaining understanding of client’s business, information systems and internal control environment.
• Preparing tailored audit plans focused on individual clients’ business areas significant to the financial statements that are relevant to clients’ risk profiles.
• Implementing the audit methodology, a risk-based approach that focuses on the drivers of the business and the associated risks.
• Planning and allocating resources to meet audit objectives.
• Performing test of controls and determining nature, timing and extent of substantive procedures based on the control assessment of existing internal controls.
• Providing sufficient amount of Direction, Supervision and Review to audit staff assigned at the audit.
• Preparation of accounts keeping in view reporting requirements of the entity.
• Evaluating the financial information provided by the client.
• Reviewing financial statements against the evidence collected in the audit process.
• Advising and consulting with the client on audit concerns.
• Preparing a formal audit report to express an opinion on the truth and fairness of the financial statements.
• Ensuring that financial statements are prepared in conformity with the identified local and international financial reporting frameworks.
• Advising clients on improving their internal control systems by identification of risk areas and recommending strategies for reducing risk through preparation of Internal Control Memorandums.
• Conducted physical verification and reconciliation of stores and spares and fixed assets.
• Preparation of proposals of various kinds.
• Consolidation of accounts of subsidiary and branches/locations.
I have performed the following kinds of assignments during my professional experience.
• Final audits
• Half yearly/review audits
• Physical verification and reconciliations of store and spares and fixed assets.
I have obtained the exemption of 12 ICAEW papers on the basis of ACCA and have passed the Advanced Stage Business Reporting exam. The professional experience I have mentioned is the training under the ICAEW. Out of the last 2 exams I will be taking Business Change very soon.
I have also obtained an external BSc Hons in Applied Accounting by meeting some extra requirements above ACCA
I became an ACCA member in 2012 and passed its all examination in June 2009.
This is the foundation certification required by ACCA after O levels if the student intend to start ACCA right after it.
