Finance and Budget Manager
Ernst & Young
Total years of experience :15 years, 8 Months
1- Development of models for the evaluation of new business alternatives that incorporate analysis of key variables.
2- Developing and maintaining financial plan (budget and strategic plan) which can be used as a basis for variance analysis against actuals.
3- Building and maintaining logical and flexible financial models that produce a full set of financial statements utilizing existing tools and software in an efficient manner.
4- Evaluating the accuracy of forecast vs. actual results and refine process to the point that it serves as an instrument of financial control in the close process and guides and supports business decisions.
5- Perform financial and operational calculation regarding metrics based on key business drivers that provide vital insight to assist management's business decision making as directed.
6- Drive continuous improvement of financial analysis, reporting, forecasting, budgeting and planning as directed.
7- Support financial forecasting processes and monthly analyses of financial results.
8- Supporting the financial budgeting software; including design, build, testing, and training of other users in the software.
9- Support non-financially backgrounded teams with forecasting, budgeting, and analysis to drive predictable, accurate results.
10- Assist in the development of models for the evaluation of new business alternatives that incorporate analysis of key variables.
11- Assist in developing and maintaining financial plan (budget and strategic plan) which can be used as a basis for variance analysis against actuals.
12- Assist in building and maintaining logical and flexible financial models that produce a full set of financial statements utilizing existing tools and software in an efficient manner.
13- Assist in evaluating the accuracy of forecast vs. actual results and refine process to the point that it serves as an instrument of financial control in the close process and guides and supports business decisions.
14- Perform financial and operational calculation regarding metrics based on key business drivers that provide vital insight to assist management's business decision making as directed.
15- Drive continuous improvement of financial analysis, reporting, forecasting, budgeting and planning as directed.
16- Support financial forecasting processes and monthly analyses of financial results.
17- Supporting the financial budgeting software; including design, build, testing, and training of other users in the software.
18- Support non-financially backgrounded teams with forecasting, budgeting, and analysis to drive predictable, accurate results.
Tihama is a multi-sector publicly listed company in the Saudi Arabian stock market since 1983; main sectors are advertising, Distribution retail and wholesale.
My role in Tihama holding Co summarized as follow:
A- Planning and budgeting duties:
1- Setting the business plan's assumptions and goals, calculate the Break even point and targeted income (CVP analysis).
2-Preparing the company's master budget including operational and financial budgets based on the approved target starting from Sales budget by item level and branch ending with the proforma financial analysis for the proforma financial statements .
3-Prepare the beyond budget monitoring reports on weekly basis and report to the budget comity about the performance and variance analysis.
B- Financial Accounting and reports duties:
1- Planing, organizing, Directing and controlling the daily duties done by the accounting team.
2- Revise and verify the accounting transactions to ensure the accuracy of the financial reporting.
3- Financial reporting using my special set of reports, helping the related parties in the top management and other sections to make daily decisions.
4- My special set of reports is a summarized and detailed reports inclusive for many aspects like inventory, AR, AP, Fixed Assets, revenues and expenses, presented on daily or weekly or monthly basis.
5- The set of reports include the cost and revenues variance analysis, and full set of financial statements prepared in accordance with the Financial accounting standards.
6- Performance analysis report include the cost and revenues variance reports and many ratios (liquidity, activity and profitability) and compared common size financial statements.
7- Preparing and filling the tax returns Direct (Zakat income tax) and indirect (VAT and withholding tax).
Managerial and Cost Accounting duties:
1-I have a good experience in benchmarking.
2- Costing including the following: Calculate the cost of goods purchased, produced (inventory) and cost of goods sold using the different ways of cost accumulation systems (process costing, Job order costing or mix operational costing)
3-Costing including allocation of overhead costs using different ways (traditional or Activity base) to allocate the overhead costs to inventory and sold goods.
4-Prepare and explain a full set of cost variances for material purchase and usage, labor rate and efficiency and variable and fixed overhead variances.
5-Prepare and explain the sales and market variance.
6-Identify and explain the value chain process and identify the adding or non adding value activities in order to enhance the competitive advantage of the company and enhance the effectiveness an efficiency of the company operations .
7- Applying many business process improvements instruments such as theory of constraints and kaizen, which can lead to high efficiency in production and other activities.
8-High efficiency in working capital management for inventory, cash, receivables, and other categories.
9-Effective share in management decisions regarding Pricing, capital budgeting and financing solutions.
10- Applying many performance measurements for different levels of management including ROI, RI, Balanced scorecard and contribution income statement.
11- Prepare the feasibility studies for the projects and explain it's results in order to decide or not to undertake the projects.
Other Duties include:
1- Cooperate with external auditors to carry out annual external auditing.
2- Prepare the effective internal control system which include the policies and procedures that provide a reasonable assurance about the achieving of the organization's objectives regarding the following (Financial reliability, effectiveness and efficiency of operations, Safeguarding of the company assets and compliance with the rules and regulations.
A- Financial accounting duties which include:
1. Maintain accurate and up to date financial records; by Recording, classifying, and summarizing financial transactions and events in accordance with Saudi accepted accounting principles (SOCPA) and financial reporting standards starting from single entry and ending by trial balance.
2. Prepare of monthly, quarterly and annual financial required reports including required financial statements, schedules, notes and tables.
3. Prepare the full set of financial ratios and the deep explanation for each ratio.
4. Coordinate the maintenance of fixed asset records and accounting including the periodic Physical inventory of assets.
5. Compute and payment of staff salaries on a monthly basis.
B. Managerial accounting duties which include:
6. Sharing effectively in the annual full set of budgets including Sales, Production, Purchasing, manpower, cash and proforma financial statements.
7. Planning including strategic, mid-term and short term planing, which will support the overall goal of the organization, i can use different models in planing and analyzing such as Porter model and PEST analysis to study and advice about different projects .
8. I have a good experience in benchmarking.
9. Costing including the following: Calculate the cost of goods purchased, produced (inventory) and cost of goods sold using the different ways of cost accumulation systems (process costing, Job order costing or mix operational costing)
10. Costing including allocation of overhead costs using different ways (traditional or Activity base) to allocate the overhead costs to inventory and sold goods.
11. Prepare and explain a full set of cost variances for material purchase and usage, labor rate and efficiency and variable and fixed overhead variances.
12. Prepare and explain the sales and market variance.
13.Identify and explain the value chain process and identify the adding or non adding value activities in order to enhance the competitive advantage of the company and enhance the effectiveness an efficiency of the company operations .
14. Applying many business process improvements instruments such as theory of constraints and kaizen, which can lead to high efficiency in production and other activities.
15.High efficiency in working capital management for inventory, cash, receivables, and other categories.
16.Effective share in management decisions regarding Pricing, capital budgeting and financing solutions.
17. Applying many performance measurements for different levels of management including ROI, RI, Balanced scorecard and contribution income statement.
18. Prepare the feasibility studies for the projects and explain it's results in order to decide or not to undertake the projects.
•Handle full spectrum of financial and cost accounting role eg. AR, AP, GL, forecasting, budgeting .
• Responsible for day to day finance and accounts operations .
• Responsible for the daily, weekly, monthly, and yearly accounting and financial reports .
• Perform full set of accounts and ensure timely closing of accounts.
• Perform project cost forecasts/budgets, cost tracking, monitoring and controls.
• Responsible for timely monthly consolidated financial statements, payments, cash-flow
• Review & approve payment vouchers & journal entries
• Perform cash flow forecasting, budgeting and working closely with the operations and project
teams in analyzing margins, variances and cost analysis.
• Issue project cost reports for review and approval.
• Develop and maintain internal control and effective accounting system and policies
• Establish and maintain systems for cost-sensitivity analysis and early-warning of cost-overruns
• Cooperate with the respective departments on cost reduction initiatives
Part 1, Financial Reporting, Planning, Performance, and Control A. External Financial Reporting Decisions B. Planning, Budgeting and Forecasting C. Performance Management D. Cost Management E. Internal Controls Part 2, Financial Decision Making, A. Financial Statement Analysis B. Corporate Finance C. Decision Analysis D. Risk Management E. Investment Decisions F. Professional Ethics
courses: Certified Management Accountant , Part 1 Finished , Part 2 Running on
