CFO
Rasasi Perfumes industries
مجموع سنوات الخبرة :18 years, 0 أشهر
Finance team size: 25 Nos.
Products range :< 400, Distribution countries :<50, Retail outlets :<160, Manufacturing area: 4
Number of companies: 11
Is the chief financial spokesperson at the group level.
Costing&MIS:-
• Standard costing and variance analysis.
a) Calculation of standard cost of production and running of costing in SAP on monthly basis.
b) Creation of process orders and ensures daily production and costing entries are booked in SAP properly.
c) Closing of process orders, calculation of process order wise variance analysis, verifying reasons for variances, running of variance analysis in SAP and booking of entries for Work In Progress and variances on monthly basis.
d) Identification of cost saving areas and reporting on cost effectiveness of company’s operations.
• Preparation of Monthly production & raw material consumption budget.
• Monthly preparation of various costing records like raw sugar consumtion, rejection, returns, production, production of by product, fuel & power consumption and various ratios.
• Preparation of working capital, cash flow statement on monthly basis.
• Budgeting and Analysis.
a) Assisting DGM finance in preparation of annual budget (Month Wise).
b) Prepare variance analysis explaining the reasons for major movements in
revenue & expenses between budget, actual and previous month.
• Coordination with SAP department for developing and implementing costing system and various MIS reports.
• Monthly preparation of schedule for cost of goods manufactured, cost of sales and other reports & Schedules required by the management.
Inventory Management:-
• Calculation of landed cost of each shipment of raw&refined sugar and molasses purchases, advise concerned department to update purchase order with actual figure of all cost components, proper material code and storage location.
• Ensure goods receipt (MIGO/GRN), invoicing (MIRO) and payment to the vendor are posted in SAP properly.
• Keep updated schedule for inventory under pledge with various banks.
• Coordination with store managers of other inventory items to make it sure that all the stock movements are booked in SAP properly.
• Monitoring of stock movements in SAP and reconcile with refinery report once in a week.
• Maintaining schedule for Goods in Transit and stock ageing analysis.
• Monitoring periodic and annual stock counting and posting necessary adjustments in SAP like provision for slow moving items, fair value etc.
Banks and bank financing:-
• Monitor bank facilities utilisation, review bank positions and regular contact with banks.
• Monitoring bank borrowings.
• Assisting DGM finance in Working Capital Finance Management:-
a) It includes planning, preparation of documents and follow up for different sort of bank financing.(Trust receipt, Mudarabaha, Murahaha, Avalization of promissory note & bill of exchange and short term loans).
b) Process Raw or White sugar re-financing, sugar repo transaction and swap transaction to ensure availability of working capital.
• Weekly basis Calculation of market value of stock under pledge with banks, compare with financed amount by banks and report shortfall or excess to banks and management.
• Coordination with the banks for raw sugar vessel payment to the supplier.
• Provide information for arranging/reviewing/renewing of Credit Facilities with Banks and other reports as and when requested by banks.
Other works:-.
• Monitoring import related accounts payable.
• Monitoring of movement on capital work in progress, fixed assets and depreciation.
• Approve all petty cash expenses and re-imbursements of finance department.
• Review Debit Notes raised to suppliers/inter-companies
• Review reconciliation of major suppliers, creditors, inter-companies and banks.
• Attending of meetings with internal departments, auditors and banks.
• Ensure that yearly insurance reviews are carried.
• Assisting finance manager in finalization of accounts and Preparation of quarterly, half yearly and yearly financial statements and provide assistance to internal/external auditors to facilitate completion of audits.
• Management of working capital.
• Monitoring Receivable and payable for the company and ensuring effective control.
• Preparation of Cash flow statement on monthly basis.
• Reconciliation of vendor and customer accounts on timely basis.
• Preparation of Bank reconciliation statement and payroll.
• Fulfillment of all statutory formalities and attending before the company law board and tax departments as representative of the company.
• Preparation of estimated cost of the project.
• Monitoring E payment, RTGS transactions and physical verification of inventory.
• Prepation of quarterly financial statement.
• Preparation and updating of fixed assets, Receivables and payables schedules.
• Finalization of accounts and Liaising with External auditor.
• Other duties assigned by the finance manager.
o Maintaining daily accounts and cash flow statement.
o Handling banking transactions.
o Fulfillment of all statutory matters.
o Preparation of payroll, reconciliaion statement of bank, Debtors and
creditors.
oPreparation of final accounts including Schedules i.e. fixed asset and
creditors etc.
o Liaising with Internal and Statutory Auditor.
o Internal audit.
o Statutory audit.
o Tax Computations and returns.
o Monthly closing and preparation of financial statements.
only 2 papers yet to clear this course.