Senior Group Accountant
Mohamed Hilal Group
Total years of experience :10 years, 8 Months
Key Result Areas:
Spearheading entire financial accounting including accounts receivable, accounts payable, general ledger, fixed assets, budgeting & forecasting
Managing consolidated financial statements, payments, cash-flow, management reporting and closing of accounts on time
Performing variance analysis and commentary in support of financial statements with notes and updates as per direction
Implementing internal control systems with a view to highlight shortcomings
Undertaking annual budget including long-term cash flow planning, forecast information for subsequent years
Conducting variance analysis-budget vs actual with root cause analysis
Checking and:
Validating daily transactions and recommending solutions against any wrong entry
Approving cash book on daily basis
Studying daily & monthly sales reports of all locations and submitting the same to the senior management
Evaluating & finalizing monthly staff commission and salary
Preparing letters / documents / CD’s for submission to WPS, Bank & Exchange
Liaising with internal & external auditors (KPMG) during financial & operational audits
Attending staff inquiries and providing overall direction to section employees
Accomplishments:
Received best performance certificate for two consecutive years 2014 & 2015
Played a key role in negotiating with Network International for credit card charges & reducing them to a significant extent, resulting in yearly savings of approximately AED 500, 000
Successfully:
Implemented timely monthly closing process of group
Developed & implemented retail policies for inventory & cash control
Established receivable, payables, petty cash & advance payment processes, controls & systems to ensure operational excellence
Contributed in enhancement of shop “Point of Sales” & stock control from POS.
(One of the leading FMCG Co. in UAE (Group of Lacnor, Milco, Oasis, IRB, Gulf & Safa and Arla Trading). IRB is a new company with head office in Al Ain)
Key Result Areas:
Spearheaded entire gamut of financial functions (income statement & balance sheet ) of the organization with 370 employees and business interest in the manufacturing and trading of fresh Arabic bread, sliced bread, burger buns, baguette, cake, croissants products
Undertook finalization of monthly & quarterly accounts according to IAS, IFRS & ensured all expenses / provisions are booked and balance sheet accounts are reconciled
Analyzed financial accounts to provide detailed reports of fiscal health of the company’s to the senior management
Ensured that fixed asset transactions are reflected in the accounting records in the proper month, at the correct amount, and are classified appropriately based on the nature of the transaction
Managed CAPEX, assets capitalization, maintained fix asset register & asset tagging
Undertook reconciliation of accounts payable & receivable, inventory GL and stock report
Prepared A/P aging reports and ensured timely processing of in accurate manner and all relevant document evidences are attached with the invoice for payment process
Spearheaded monthly raw, packaging & finish goods physical inventory count, prepared inventory reports & relevant analysis
Played a key role in verifying & analyzing all inventory write off / adjustment requests received for onward approval of management
Delivered and ad-hoc statements, aged receivable reports, and other financial information to finance on monthly basis
Held the responsibility for insurance of companies assets, payroll verification & accounting, preparation of detail annual budget, forecasting of monthly cash flow, sales & revenue expenses
Accomplishments:
Executed Maitre D Accounting Software for recipe management, accounts receivable, accounts payable & inventory management, point of sales for new launched 4 bakery outlets in Sharjah
Undertook asset capitalization of approximately AED 170, 000, 000 assets
Established new standard operating procedures for payable, receivable & inventory
Showed tenacity in planning, preparing and implementing first audit of International Royal Bakery
Re-designed cost of products from applying FOH to actual FOH and display of actual profit margin to management for special customers & orders
Coordinated & provided data for 1st annual audit to Deloitte & Touche M.E.
(Leading FMCG engaged in production & distribution of beverages)
Growth Path:
Jan'07-Feb'08 Payable Executive
Mar'08-Jun'09 Budget & Cost Analyst
Jul'09-Feb'12 Senior Accountant
Key Result Areas:
Prepared & provided data to external auditors of KPMG & Co. for statutory accounts
Maintained books of account by reviewing, validating & approving daily vouchers to update purchase ledger, sales ledgers, general ledger, AP module & AR module in ERP Oracle Financial
Liaison with the banks for Loans, Leases, L.C’s, Bank Reconciliations and all other matters.
Ownership of process for the preparation, validation and submission of Value Added Tax (VAT) in compliance with the relevant regulations of FBR.
Successfully evaluated actual manufacturing costs and prepared periodic reports comparing standard costs to actual production costs
Attended monthly meetings with management to discuss budgetary position and agree action plans to achieve business objectives
Analyze new capital expenditure requests and preparation of cost benefit analysis reports.
Costing of new products & Project Feasibilities.
Accomplishments:
As Senior Accountant
Attained $3m savings by reducing working capital cycle, re-negotiating with vendors, sourcing alternatives and by effective utilization of transport to cut down fuel consumption
Implemented Management Trainee Program for recruitment and rendered training to a team of 8 finance professionals to increase operational efficiency
As Budget & Cost Analyst
Managed budget & forecast of $ 160m+ business and acted as part of team to identify & bring $2 million saving by reducing overheads and operation wastages
Treat Corporation Oct 05 to Dec 06
Accountant
o Update and maintain accounting journals, ledgers and other records detailing business transactions
o Prepare and maintain cash flow statement
o Prepare daily journal entry
o Prepare daily revenue and Expense Reports
o Reconcile bank accounts
o Ensuring that Debtors and Creditors are received and paid in line with Company procedures, and responsible for their reconciliation
o Prepare Fix Assets schedules and record depreciation on Fix assets.
o Recording of Month End Accruals
o Responsible for monthly closing of account
o M. COM Hailey College of Commerce, Punjab University, Lahore 2007
o B. COM Hailey College of Commerce, Punjab University, Lahore 2005