Finance Manager
Simple Food Company
Total years of experience :23 years, 7 Months
ACHIEVEMENTS
Established the Finance department in Simple Food Company.
Implemented and designed the financial module of ERP (Sage X3)
Developed and monitor financial department policies and procedures.
Created master budget with the co-ordination of other departments.
Recruited, trained and led a core team of five employees in finance department.
RESPONSIBILITIES
Significant Highlights:
• Drove the financial management, accounting, and reporting functions to the highest level of accuracy, timeliness, and efficiency by innovative thinking, corporate strategic planning, and supreme financial leadership.
• Chiefly responsible to lead the financial domain of the business - formulated realistic budgets, and closely monitored its compliance by effectively managing all financial management, accounting, and reporting operations
• Commanded the financial due-diligence function for 20M SAR acquisition (seller company representative) - key person for providing any information/ document to acquiring company during the transition phase.
Responsibilities:
• Steering the financial planning and management function - effectively managing financial resources of the business while applying all accounting, financial, and business principles to achieve profitability and long-term success.
• Leading the accounting and reporting operations - ensuring the financial domain is structured, organized, and complies with applicable internal controls including IFRS, GAAP, and SOCPA.
• Strategizing annual CAPEX and OPEX budgets, as well as computing precise forecasts for ensuring that cost allocation is accurate, revenues are recorded, expenses are within budget limits, and/or fiscal practices are followed.
• Directing the transformation of business and finance outlook; driving commercial and growth strategies including controlling cost by overseeing the procurement function, in addition to moderating cash-flows.
• Regulating the factors that impact the financial performance of the business which include accounts receivable, accounts payable, fixed asset management, and bank reconciliations.
• Computing precise financial forecast to anticipate funding requirements; exploring sources of raising finance (banks/ financial institutes) to maintain and improve the fiscal condition and strengthen capacity for additional growth.
COST CONTROLLER 2010-Present
• Provided periodical cost reports according to the cost center, organization, and departmental level.
• Monitored monthly trends of price changes by conducting price variance analysis.
• Compared monthly cost and year to date cost to know the factors which affects the changes in gross profit.
• Analyzed the consumables (direct cost) and monitored the trend periodically.
• Conducted the price volume mix analysis to know the factors that drives the gross profit margin from period to period using waterfall charts.
• Worked out monthly Cost of goods sold for all outlets.
• Developed cost breakdown structure according to the cost category.
• Performed financial metrics study and four wall analysis for all concepts.
• Conducted audits for management to assess effectiveness of controls, accuracy of material transactions, and checked the summary report of items expired, damaged and wasted.
• Calculated cost variances from the budget after comparing it with the actual and reported significant issues to the management.
• Established controls which reduced inventory loss and wastage.
• Assisted in implementing Oracle Apps by providing data, suggestions, Ideas and report designs for customization.
• Reconciled the transactions of Inter-company accounts (Kudu-Factory-CAN co)
• Revised inventory control procedures with internal auditor.
• Provided the complete cost structure, inventory data and analysis of past years for the acquisition due diligence.
• Compared current financial performance with budgets, identified variances and recommend appropriate corrective action.
• Co-ordinated with company financial planning and budgeting functions.
• Worked with other departmental heads (HR and Marketing) to review budget allocation and expenditure.
• Prepared various inventory and cost of sales reports for interim and final audit.
COST ACCOUNTANT 2005-2010
• Prepared the bill of materials of new product with the help of ingredients and recipe given by factory and bakery managers.
• Prepared product costs, segment profitability, and pricing variances.
• Prepared the cost of new item produced in bakery and factory using the bill of material.
• Analyzed production variances and explored potential problems with factory manager.
• Prepared the monthly warehouse variance reports and submitted to finance manager.
• Finalized all accounts relating to material consumption for year-end accounts and inventory adjustments arising out of comparison of physical stocks with book values.
• Monthly reconciliations of closing inventory and GL inventory balance.
• Investigated cycle counting variances and resolved the issues.
• Identified route cause of variances and help come up with ideas on how to mitigate the variances.
• Conducted monthly and annual physical inventory of central warehouse.
• Monitored the monthly moving average cost trends.
• Reconciled the material transferred to franchisee and solved the variances issues, if any.
ACCOUNTANT 2000-2005
• Assisted in monthly accounts finalization activities.
• Handled payroll system independently for Kudu factory and bakery.
• Performed financial statements analysis with the help of ratio analysis, horizontal and vertical analysis.
• Interpreted financial statements analysis results to management which helps in decision making.
• Reviewed the adjusted financial statements after the quarters and updated the financial data for better and accurate results.
• Maintained the inventory ledger.
• Provided weekly bank Reconciliation report to finance manager.
• Coordinated in providing the respective information to external auditors for the annual audit.
• Prepared and posted journal entries for sales in MCBA system.
• Managed petty cash for the company.
ACCA ( The Association of Chartered Certified Accountants) Glasgow, UK (Completed 11 papers out of 14 )
Passed with First Division
Passed with First Division
Passed with First Division