Senior Accountant
SCDP- USAID - By Deloitte Yousuf Adil
Total years of experience :17 years, 4 Months
Chartered Accountants) Supervisory Senior - Audit
Sindh Capacity Development Program (SCDP) of USAID- Managed by Deloitte
•Supervision of Entire Accounting Cycle That includes daily payments, tax matters, re-imbursement from USAID, Expenses related to the Project, Bank Reconciliation, Staff's Salaries, exemptions and plenty of things.
•Monitoring and Checking of Budgets assign from USAID specific to the Project and related expenses and variance analysis on month-to-month and year-to-year basis.
Cash Flow Forecasting Design and Developed first ever cash flow forecast of Lucky Cement on the basis of past years analysis, future forecasting of growth in industry, trends and other factors.
•Monitoring and Checking of treasury related expenses, income related accounts in GL in order to assure correct posting in GL and get it correct if something goes wrong.
•Leading Entire Insurance Function right from the negotiation, finalization, reconciliations, and general operational work.
•Prepare Budget and present the same to Senior Management for approval and monitor monthly activity in order to avoid any major change.
•Claim Management and related aging a strict check and balance through system to keep the pending claim aging to a minimum level in order to avoid operational losses
Finance and Business Development - Magnus Investment Advisors Limited
•Manage and Supervise Finance operation of the company which includes all aspect of finance function i.e. dealing with banks, clients, both internal and external audit, tax related matters also compliance requirement with SECP and other regulatory requirements as designated compliance officer.
•Supervising New Business Initiative in order to expand and diversify existing business and successfully designed following business feasibilities:
•Dry Cleaning Business
•Retail Pharmacy Business
•Fast Food- Fried Chicken Business
•Successful Implementation of Fried Chicken Business after approval of feasibility from BOD, designed complete model, develop warehouse, retail outlet, appointment of Chefs, purchase of suitable equipment etc and finalized recipe with the help of Chef which would be key to success of this business.
Dealing with insurance companies for rate negotiation, risk management, claims and insurance of companies' assets throughout Pakistan.
•Dealing with banks regarding their satisfaction regarding our Insurance arrangement to ensure smooth availability of Overdrafts.
•Supervision of largest element of cash flow through fortnightly preparation of LC reconciliation advances, outstanding in liaison with banks and system (Oracle) data to help treasury department to forecast and management of funds availability.
•Responsible for inventory management through Quarterly stock count of all factories, warehouses, service center stores and its reconciliation with system and reporting to Senior Management.
•Responsible for Payable Operations where daily payments, reconciliation of venders and cheques preparation are done
•Review of LCs cost through reconciliation of actual v/s standard cost to identify and highlight un-usual variances.
•Supervise Retail Sales operation of sister concern - Dawlance Marketing finance operation including sales, payable, receivables, stocks reconciliation and preparation of monthly and annual financial accounts for audit.
Audit Experience - Dawlance Group of Companies
•Supervision of audits, Organize, plan and carry out the internal audit function including the preparation of an audit plan that completes the duty of the department, assigning work, scheduling and estimating resource needs.
• Assessment of audit risk, Conduct group internal audit in executing special investigations, internal audit, compliance with
Policies, regulations, and reviews of the Group's companies' internal control system. Evaluate the adequacy,
Effectiveness and efficiencies of processes including internal control systems and compliance with company policies and
related regulations.
•Timely preparation of deliverables including audit reports (highlighting control weaknesses and recommendations), communication to Senior Management.
•Managing, training and supervising audits staff as well as trained accountant for audit in order to save cost and development of multi task force.
•Managed special assignments such as redrafting of SOPs, Delegation matrices, incentive policies, incentive working, salary revisions, training of staff at lower levels etc.
Also during two years of association with Abbas Karjatwala & Co., the following were notable clients:
- Habib Insurance Company Limited - Metal Engineering Corporation
- East West Insurance Company Limited - Cylinders Pakistan Private Limited
- Metropolitan Life Assurance Limited - Filters Pakistan Private Limited
- Millennium Software house - Habib foundation and Charitable