Finance Manager
Value Real Estate & Construction
Total years of experience :17 years, 9 Months
Develop and implement Finance and Accounting policies and procedures to direct strategic contribution of the financial department to the business objectives; Review and verify the financial statements and closing procedures including cost allocations, account reconciliations to ensure that all financial statements are processed accurately in a timely manner and in compliance with IFRS and legal requirements; Plan, organize, direct and follow up day to day operations of financial department, monitor financial transactions to ensure accurate and timely financial recording and reporting; Prepare financial and analytical report and performance analysis to support top management in decision making process; Support the external or internal auditors; Prepare Ad-hoc reports based on management requests; Provide requested information to management by assembling and summarizing data; preparing reports; making presentations of findings, analyses, and recommendations.
Responsibilities: Managing day to day activities of the Accounting Department and training the accountants. Evaluating and recording the daily transaction and proper posting adherence to compliance, IFRS/GAAP and Audit Standards. Completing the monthly financial and year end audit on time. Handling banking & financing activities such as Term Loan, Guarantees, LC etc. Monitoring Aging/Limit of Customer/Vendor, Physical verification of inventory/Fixed Asset and analysing accounting data and produce Financial Reports/Statements. Interpret the company's financial results to management and recommend improvement activities.
Achievements: Initiated an income and expense flux analysis and BRS for the first working day of the month that provides for early identification and correction of posting errors. Accelerated the month-end closing process to the tenth calendar day of every month. Provide timely and accurate financial reports. Partnered with relevant managers and department heads within the organization, resulting in increased comprehension about the financial system. Finalised more than ten company’s Financials every year from 2016 to 2021, consolidate them for group and get all audited. No material weaknesses noted by auditors during that period.
Responsibilities: Responsible for Internal Audit, Quality System Assurance; Conducting Pre-Audit to identify adherence to compliance, policy and procedure & OHSAS, QHSE-ISO Standards, deficiencies, their risk and impact; Safeguarding of Asset; Periodic Inventory; other audit assignments as per Management requirement; Reporting & Documenting of audit findings. Achievements: Overhauled audit procedures and systems; Developed Internal Audit Charter, Plan and Schedule for the year of 2015 & 2016 and also responsible for its execution; Suggested and implemented software for stock management that helped to increase eficiency of the Organisation; Conduct internal HSE Inspection, Documentation, Maintaining Audit Records as per OHSAS, QHSE requirement and Coordinated in ISO Audit for Renewal of Certification conducted by a notified audit agency.
Supervising daily accounts maintenance of Clients, ensuring account receivable & payable.
Ensuring adherence to set accounting standards for finalizing accounts as well as for preparing balance sheet and P&L accounts on monthly basis of clients.
Preparing tax plans and ensuring compliance and timely assessments.
Responsible for timely Audit and filing of TDS, VAT, Service Tax and Income Tax assessments, filing of various forms, returns etc. of clients required under various statutes.
Reporting to the Director of School & Secretary of Society.
Preparing & maintaining statutory books of accounts, final accounts and reconciliation of financial statements with monthly/ quarterly results. Also ensuring compliance with accounting standards like accounting manual/guidelines and local tax laws.
Supervising daily accounting operations including fee realization, formulating and executing system for ensuring timely fee realization, account receivable & payable.
Ensuring adherence to set accounting standards for finalizing accounts as well as for preparing balance sheet and P&L accounts on quarterly and annual basis. Preparing tax plans and ensuring compliance and timely assessments.
Managing routine taxation activities like deposit TDS & its returns ensuring timely Bank and vendors/ debtors reconciliation.
Handling the complete planning & management activities for ensuring completion of internal, statutory and external audits within time and cost budget. Interacting and liaising with the auditors.
Monitoring of statutory recoveries & ensuring timely remittance on regular basis to the concerned authorities.
Coordinating & communicating with Banks/ Financial Institutions, preparing required financial MIS & Statements.
Successfully transformed on from manual working to computerised working and implemented School ERP.
Vital role in introduction of fee collection through bank challan only instead of cash collection at school and student’s financial/educational information management.
Restructured in staff salary and reimbursements. Mentoring and monitoring performances of the accounting staff.
Developed various policies such as finance & accounts, staffing and compensation, attendance & leave, purchase, works etc.
Devised department wise SOP, department wise responsibility charts, individual’s responsibility chart.
Spearheaded general accounting operations including projects/sales account, account receivable & payable.
Prepared and followed up of bills receivables after invoicing to debtors, conducting ageing analysis with an aim to keep receivables under control and collections of payments etc.
Ensured that all payments are made to suppliers within the stipulated time frame and managing accounts payable within the pre-set parameters and accounting of rejections and reconciliation, etc.
Interfacing with taxation authorities for timely filing of TDS, VAT, Service Tax and Income Tax assessments, filing of various forms, returns etc. required under various statutes.
Monitored for timely bank reconciliation statements.
Supervised vendors and debtors’ reconciliation periodically along with claims and credit notes.
Controlling selection and training of finance & accounting staff, formulating and establishing lines of control and allocating accountabilities to the subordinate staff.
Evolving and implementing systems, policies, procedures, internal controls considering business objectives.
Implemented standards, procedures & policy decisions.
Created Responsible for Budget preparation and budgetary controls.
Assured timely preparation of the required financial reports.
Developed & executed audit programs, devised detailed audit calendar including defined scope as well as check list. Handled audit activates pertaining to procurement to payment, loans, advances, purchases, sales promotion, publicity, advertising, salaries & wage: overall status vis-à-vis the industry norms/standards, contractual labour & construction bills etc. Managed post audit of the Revenue Recognition, All Direct & Indirect taxes, Investment Strategies, Stores & Inventory, Fixed Assets, Cost records, Vendor Management, Reconciliation & Confirmation for long outstanding, etc. Administered audit activities pertaining to Sales & Distribution, Logistics, Business Development, HR & Personnel, etc. Resolved legal issues including concern relevant to patents & trademarks, royalty, excise, sales, service & labour laws etc., Oversaw review of the existing ERP/SAP System. Developed & reviewed SOPs and minutes of the board/committee and check their implementation. Prepared audit reports highlighting process gaps of internal controls for discussion with the CMD and executing necessary recommendations including process mapping and risk assessment. Planned and conducted Internal Audit in the allocated units as per defined scope & continuous monitoring of physical stock verification of RM/PM/FG of Plant/Branch/CFA and highlight the deficiencies in audit observations. Involved in verification of: o Inter-divisional transactions involving Branch audit; closure of branches & transforming branches into C&F. o Incorporation of branch/ department/ divisional accounts in the main accounts and exclusion of profits arising in inter-branch at the time of finalization of accounts. Arranged and conducted physical verification of inventory annually or as required which included recognizing diference from the book balance, verifying the bases of valuations & bases of adjustment in accounts. Organized appointment of various firms of chartered accountants as internal auditor for factories, branches and CFA as well as administered internal audit team across all the locations. Supervising the preparation of MIS to provide feedback to top management on financial performance, viz. monthly profitability, turnover & quarterly result as per the requirement of Management.
