Finance Manager
Depa Group
Total years of experience :21 years, 10 Months
Preparation and analysis of monthly financial statements and interpret financial information to management
Submission of monthly, quarterly and yearend financial reports including forecasts to CFO by the respective deadline
Preparation of annual budget and reporting to management on variances between projected and actual with reasons for variance
Ensuring proper reflection of transactional events in the accounts as per IFRS and the Group's accounting policies
Ensuring proper adherence to the Group's accounting procedures and maintain proper internal controls
Providing advice to the Management concerning the financial implications to business strategies and plans
Liaising with external auditors and ensuring that the interim & yearend audits are completed within the scheduled timeline
Coordinate with external auditors and ensuring that the tax return filing is completed within the stipulated deadlines of tax authority.
Liaising with internal auditor during the course of internal audit of various functional departments and ensure management responses are provided by respective department head with responsibility and timeline.
Review and approve bank reconciliations on monthly basis
Preparation of cash flow forecast and management of funds efficiently ensuring sufficient funds are available to meet the operational and capital expenditures
Coordinate with the Commercial Department for the project reports on monthly basis
Review the contracts and agreements of supplier/subcontractors to protect the interests of the company and ensures that all invoices’ payments comply with the contracts’ terms and conditions
Review the aging analysis of receivables and payables and suggests further action.
Review of all kind of contract bonds, such as bid bonds, performance bonds, advance guarantees and do the necessary action to renew if required
Oversee the operations of the finance department, including the designing of an organizational structure
Overview the payroll function and processing and liaise with HR department as per the Group's policies
Coordinate with all departments on accounting related matters
Coordinate with subsidiaries on inter-company transactions
Supervision of general accounting functions
Ensuring all accounts are reconciled on monthly basis
Ensuring that company policies & procedures and DOA are fully complied with
Ensuring fixed asset register is maintained and updated periodically to record and account for the company s property and equipment.
Follow up on collection of due receivables and on valuations to be certified on time
Conduct reviews and evaluations for cost reduction opportunities
Participate in the negotiation of payment terms for high value orders
Review of monthly estimated cost and revenue of the projects and highlight any concerns to the management on monthly basis.
Meetings with Project management & Commercial Dept to discuss finance related issues such as payment certifications, cash-flow, etc.
Liaising with Project Planning Dept, Commercial Dept to finalise project cash-flow required for project financing facilities and further co-ordination and follow-up with Treasury Dept until finalization of project facility line.
Managing daily banking requirements and negotiating with banks for general and project facilities
Any other duties that may be assigned from time to time by FD/CFO.
Perform full set of accounts and ensure timely closing of accounts.
Monitoring Bank Position on daily basis
Perform month-end accounting activities such as reconciliations and journal entries.
Opening Letter of Credit, certification and retirement of Documents, handling of Trust Receipt and liaising with the banks
Preparation of vouchers relating to LC issuance, amendments, Bills payables, settlements, Trust Receipts etc.
Checking Subcontract certificates and posting on day to day, Processing of Payments of Sub Contractor
Maintenance of Guarantees inward and outward file/ and arranging renewal/ encashment
Checking and accounting of Payment certificates issued by Client
Accounting of all receipts received from Client
Generate financial reports and statements to Managers for review.
Monitor expenditures, analyze revenues and determine budget variances and report the same to FM/management.
Coordinate with FM for preparation of monthly, Quarterly & Yearly Financial.
Preparation of Various Financial & Management Report for Board Meeting like Project Performance report, Trend Analysis, Prelims Analysis - Budget vs Actual, Cash flow statement and various Ratio Analysis and Project wise Revenue Analysis
Reviewing staff’s monthly payroll sheet and preparing transfer
Reviewing and approving all supplier & Sub Contractor Invoices and Payments.
Arranging Suppliers & Sub Contractors LC’s as per the agreed Terms and condition.
Monitor and record financial transactions according to company policies and regulations.
Coordinate with concerned department to complete assigned accounting tasks within deadlines.
Assist in auditing activities by providing necessary information and preparing requested documentations.
Maintaining Staff Leave & END of Service Provisions.
Review and recommend changes to existing accounting procedures.
Provides guidance to other Accountants when needed.
Preparation of Supplier Payment as per the agreed payment terms.
Preparation of Bank Reconciliation on monthly basis.
Preparation of all management reports including monthly financials.
Maintain account balances and bank statements
Ensures financial records are maintained in compliance with policies and procedures
Follow up on timely recovery of receivables
Responsible for payroll, maintain the list of employees benefits and settlement of employees final dues
Supervision of inventory control and physical verification of stock
Assist with analyzing financial statements on a monthly basis and report on variances
Maintain all expense accounts and keeps account of all invoice/expense reports
Establish and monitor the implementation and maintenance of accounting control procedures
Preparation of financial reports and coordinate for periodical reviews, yearend audits etc.
Booking of asset invoices, preparation of schedule of assets on monthly basis, and passing all necessary depreciation entries
Handling all payment relating to office rent, staff/labour accommodation, medical insurances etc. And preparing related accounting entries and schedule thereof.
Performs other duties assigned by the line manager/management
Prepare and maintain all accounting entries for day to day activities
Preparation of payment vouchers, cheques and bank transfer letters
Prepare and review aging report for receivables and payables and follow up collection
Reconciliation of accounts receivables, payables and bank accounts
Maintain petty cash, postdated cheques and multiple bank accounts
Manage fixed asset register and all related documents
Manage & control inventory, maintain order register and conduct physical verification on a yearly basis
Responsible for payroll, maintain the list of employees benefits and settlement of employee’s final dues
Assists senior accountant in preparation of financial and management reports
Assists senior accountant for audit review and year end audits