Senior Accountant
Green Valley premium hyper maket
Total years of experience :8 years, 10 months
Headed a team of 3 reportees.
Led the finance & accounts functions involving determining financial objectives, designing & implementing systems and framing policies & procedures to facilitate process control:
o Handling GL recon with AR, AP & month end closing and fortnightly payable & receivable ledgers recon.
Drafted financial reports to provide feedback to top management on financial performance viz. analysis of profit, cost, fund position, inventory, margin reporting and informed the operation on near expiry or slow moving items.
Conceptualized budgets on the basis of inputs from various stakeholders and conducted variance analysis on periodic basis to determine difference between projected & actual results.
Strict control over approved budget and highlight any area where any significant variance, prepared detailed variance reports including detail reasoning for directors, was also responsible for giving suggestion to finish or minimize this variance.
Implemented strict stock control measure and monitor stock takes on fortnightly, half yearly and on annual basis.
Ensured compliance with internal audit report.
All monthly reports presented to directors and CEO on timely basis every month with detailed variance of every Profit and loss head & balance sheet head.
Developed & assessed the balance sheet and profit & loss accounts at unit level; ensured the integrity of financial statements and perform variance analysis with past management reporting.
Responsible for ensuring that all asset were insured and same was renewed every year.
Assessed sales tax requirement, filed monthly sales tax return / VAT return and mapped as per sales tax requirements.
Part of the negating team for new contracts with vendors to gain favorable credit terms & better margins.
Supervised periodic fixed asset check.
Steered the effective implementation of company accounting software, mapping of monthly management accounts / annual financial statements and facilitation of consolidated financial statements to CFO.
Conducted review of financing term sheet & financing documents, negotiations on financing term sheet and financing documents with financial institutions & prepare cash follow projections as per bank requirements.
Prepared reports, posted complex journal entries and processed invoices, receipts & payments as required
Managed working capital & accounts payable to attain the completeness of recording liability by assuring that accurate claims were filed with vendors and paid on time and receivable was collected on time.
Take part in efficient negotiations for new contracts with vendors to gain favorable credit terms & better margins.
Verified the reports of petty cash, bank reconciliation and CC reconciliation prepared by the team & communicated with the banks for any difference.
Highlights:
Detected a bug in POS while performing system review, and corrected the same with the help of software developer which further prevented an occurrence of fraud.
Conceptualized, developed & implemented ERP system and automated all payable & receivables to minimize the chance of any fraud or error and record all manual data into new system.
Successfully formulated monthly & fortnightly budget for every department and Management Measurement System that led to substantial increase in sales.
Successfully negotiated a contact with Habib Bank Limited which reduced credit card charges, free cash collection & some free services to employees and resultantly savings to company. Negotiation also includes better rates for financing requirements and LC.
Independently prepared branch level and head office level financials and consolidation for external audit purpose. Provided all the information to auditor as per their requirements so audit report can be issued on timely basis.
Performed statutory audits under local regulations & international standards applicable in Pakistan and ensured international reporting to multinational clients as per Group Audit Instructions.
Worked on practical application of International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA).
Conducted:
o System study of business processes of entities and assessed all significant accounting streams.
o Horizontal, vertical, ratio & other variance analysis at the group / company level.
o Prior year appellate / assessment orders and calculation of any charge / reversal required.
Assured compliance with independence & ethics guidelines issued by KPMG.
Scrutinized the advances issued to corporate clients by banks.
Assessed the provisioning required on advances issued by banks under prudential regulations.
Prepared:
o Current tax position, computed expected tax liability and incorporated various companies.
o Income Tax / Sales Tax refund under the provisions of tax laws.
o Workings of brought forward losses.
Calculated the potential exposure of the target companies.
Finalized assessment & adjudication proceedings including filing of appeals & penalty attending hearings before Appellate Authorities as well as Income Tax / Sales Tax Returns & other statutory statements as per Income Tax Ordinance 2001 and Sales Tax Act 1990.
Highlights:
Obtained:
o Special year approval for various clients from taxation authorities.
o Exemption Certificates for various clients from taxation authorities.
Assured corporate & other statutory compliance under Companies Ordinance 1984 and other corporate regulations regarding companies / branch office.
Assessed Wateen Telecom, highlighted their non-compliance to taxation and communicated the same to board.
Todia Communication Systems is a small, medium-sized company, which involve in providing connectivity of different telecom companies across the border.
Stellar at recording of Sale & Purchase Invoices.
Successfully implemented the tolerance level of the disputes as per agreements and ensured vetting of the contracts for new ventures with telecom operators.
Administered the effective maintenance of fix assets register.
Efficiently mapped the monthly management’s accounts for MD and any other assignments allocated by the MD as well as handled the monthly salaries.
Carried out bank reconciliation, monthly variance analysis and ensured effective communication with international customers.
Played a vital role in maintaining the customer aging as well as mapped the accrual & prepayments.
ACCA Member
Attending E-Academy of SAP-FI.
