Financial Planning Manager
Kuwait Food Company
مجموع سنوات الخبرة :20 years, 3 أشهر
Company Brief A leading FMCG Group of Companies with annual turnover of $ 1.5 Bn. Major product Lines: Processed Meat, Canned Food, Poultry, Snacks, French Fries and Frozen Vegetables. Countries: UAE, KSA, Egypt, and Kuwait.
Key Responsibilities:
• Preparing weekly sales for the entire Food Division based on cluster subsmissions
• Monthly reporting of sales by geography
• Preparing monthly Consolidated Cash Flows
• Conducting monthly review of Consolidated Balance Sheet
• Capex requests processing, along with review of financial models and supporting documents
• Reconciliation of capex submission with balance sheet movements
• Preparation of consolidated Statement of Changes in Equity
• Conducting monthly financial performance assessment and business reviews
• Review and compilation of forecasts and annual budgets
Major achievements:
• Prepared Capex training material. Updated the capex memo aligned with the Group requirements and conducted capex trainings containing demonstration of updated memo’s write up and financial modelling.
• Successfully planned and executed the reconciliation of Statutory Financial Statements with Management Financial Statements for the entire Food Division.
• Built the Cash Flow Statement in Hyperion.
Company Brief A leading FMCG Group of Companies with annual turnover of $ 1.5 Bn. Major product Lines (18 production sites): Processed Meat, Canned Food, Poultry, Snacks, French Fries and Frozen Vegetables. Countries: UAE, KSA, Egypt, and Kuwait.
Key Responsibilities:
• Managing timely uploads of weekly sales from all clusters through Hyperion, compiling and performing variance analysis vs last year and vs budget. Indentifying and commenting on the cause of change.
• Compilation of revenue from all the cluster as per identified Geographical regions and on a monthly basis. Performing variance analysis vs last year and vs budget. Indentifying and commenting on the cause of change
• Conducting monthly financial performance assessment and business reviews. Actively engaged in reviews relating to P & L algorithms, top line and EBITDA cause of change and its commentary, cluster wise performance analysis including risks and opportunities
• Assisting director in review and compilation of forecasts and annual budgets
• Preparing monthly Cash Flows both entity wise and consolidated
• Conducting monthly review of Balance Sheet both entity wise and consolidated
• Capex process ownership consisting of processing capex requests, review of financial models, review of supporting documents, monthly reconciliation of capex submission with Balance Sheet
• Preparation of consolidated Statement of Changes in Equity
Major achievements:
• Prepared Capex training material. Updated the capex memo aligned with the Group requirements and conducted capex trainings containing demonstration of updated memo’s write up and financial modelling.
• Successfully planned and executed the reconciliation of Statutory Financial Statements with Management Financial Statements for the entire Food Division.
• Built the Cash Flow Statement in Hyperion.
Company Brief The firm is engaged in financial management, taxation and business management consulting services in U.A.E.
Portfolio : Information Technology, Contracting, F&B, Automotive, Retail, Tourism, Engineering, Advertising, manpower supply and Transport.
Project Description : As engagement partner, I have provided companies with advice regarding compliance with the requirements of Value Added Tax (VAT) Decree Law No 8 and Cabinet Decision No 52 of 2017. This included review of their existing financial statements, alteration in the accounting system, identifying changes in the scheme of entry, review of reconciliation of Output & Input tax, advising clients on the latest regulations issued by the authority, and assistance in filing of VAT returns.
Major achievements:
• Designed the simplified tax invoice for a retail company operating with 13 outlets throughout the country.
• Performed VAT impact assessment to determine the relevant line items along with the cash impact on the company.
• Performed system’s walkthrough in order to determine the alterations in the internally generated documents in order to comply with the timing of recording of transactions.
• Performed review of financial statements to be reconciled with output and input tax.
• Advised on the registration status of the companies in accordance with the scope of activities as determined by VAT Decree law and executive regulations.
• Performed Due Diligence Review for the potential acquirers for the takeover of a company worth AED 100M.
• Key player in developing association with Danmirr UK Limited (largest firm in UK for SME sector).
Company Brief The company is engaged in financial management, taxation, business management training and providing finance education to the students of significant accounting bodies all over the world i.e. the Institute of Chartered Accountants of Pakistan, India, England and Wale, AICPA, CMA, CGA, CIA, CFA. The company is an extension of Professionals Academy of Commerce, Pakistan being the oldest accounting education institute in the country.
Key Responsibilities:
• Preparing Financial Statements, Management Information, managing cash flow, exercising controls over treasury, project management and reviewing training material
• Ensuring maintenance of general ledger, managing the accounts payable function and liaising with the auditors
• Reviewing all purchase requisitions to ensure compliance of Institute’s purchasing policies and procedures
• Involved in the reconciliation of vendor statements and preparing vendor checks for the approval of the president
• Reviewed training material and assumed projects as and when needed.
• Prepared business model to restructure the company in order to meet its commitments towards lenders. The business plan was reviewed by one of Big 4 and endorsed to lenders. The plan has been accepted by lenders and the negotiations for the next level has been initiated.
• Developed a strategic vision of the company in consultation with the chairman
• Supervised preparation of financial statements from the scratch using remains of crashed system.
• Implementation and monitoring of controls over inventory and production.
• Implementation and monitoring of controls over treasury.
• Implementation and monitoring of controls over working capital management.
• Negotiations with creditors and lenders in order to relax the terms to improve working capital efficiency of the company
Company Brief A company with a net worth of AED half billion engaged in Real Estate, Car Auctions & Valuation, Automobile Engineering, Industrial Bakery, Technology turnkey solutions, used cars trading, Landscaping and Farming. The group has partnership in DULSCO and Precision Dies and Tools Manufacturing with MKM Holdings (Dubai’s Royal Family) and Al Tayer (Dealers of Ford and Range Rover) respectively and hence is engaged in Labor supply, Waste management, Plastic and Metal molds manufacturing as well.
Key Highlights:
• Successfully achieved improvement in net profit of a service center for premium cars by conducting analysis of market trends, channel costs and overhead charge out rates
• Prepared a turnaround plan for auction house and start-up of trading house for used cars and enabled both the set-ups to full capacity utilisation
• Performed an investment appraisal for medical waste management project and advising on related transaction structuring
• Prepared restructuring plan of industrial bakery focusing on baking process, product lines, BOQ and operational costs
• Advised the group to invest in a ‘Four Start Hotel Project’ consisting of 130 keys as opposed to investing in renovation of existing residential apartments. For this purpose, assisted consultants in investment appraisal worth AED 100 million and reviewed the feasibility
Key Responsibilities:
• Leading an accounting team of 15, including overseeing receivables, payables, inventory, fixed assets and payroll function
• Leading monthly review of commercial and operational performance of the businesses at entity level. Worked closely with business heads to compile, and comment on the said periodic performance.
• Managing company’s consolidated financial reporting under IFRS including monthly and annual closing of financial statements along with significant accounting ratios and other relevant KPIs
• Prepared financial models before any proposed acquisition, joint venture and advising on its impact on the business
• Preparation of the annual and monthly forecasts and performed analysis for reasons of variances
• Monitoring implementation of accounting policies, company procedures and strong internal controls
• Responsible for finalizing audits with external auditors
• Ensure compliance of the covenants of long term creditors
• Turned around the companies in the group with low performance index
1) Focused on business development by identifying new opportunities;
2) Developing the Risk Assurance & Advisory kit as per new standards;
3) Involved in the Quality Control Review (QCR) of ICAP;
4) Managing the conduct of audit, preparation of financial statements and reviewing the audit working paper files; and
5) Provided financial consultancy
Company Brief Ernst & Young Global is a multinational professional services firm headquartered in London, UK. It is among the largest professional services firms in the world known as "Big Four".
Key Highlights:
• Successfully devised analytical procedure to measure Airline Revenue in absence of expert’s report
• Prepared fixed assets register for Tawam Hospital Al Ain consisting of 27, 500 items
Key Responsibilities:
• Associated for audit assignments various sectors companies such as Automobile, Telecommunication, Airlines / Aviation, Manufacturing, Trading, Hospitality industry and Information Technology
• Performing quarterly and annual ‘Agreed Upon Procedures’ (AUP) for the personal accounts of chairman of Emaar Properties P.J.S.C/member of Dubai Executive Council
Key Highlights:
• Instrumental in identifying major weaknesses in the Internal control related to the new connections with Lahore Electric Supply Company Limited (a company engaged in electric power distribution in more than 16 cities)
• Effectively conducted the audit of The Institute of Engineers Pakistan (a society), whose affairs were under investigation by provincial ministry, for 3 years and released financial statement which were duly approved by relevant authority
• Identified the instances of blank sales and short sales of the stockbrokers of Lahore Stock Exchange Guarantee Limited report was accepted by the SECP and the brokers were penalized
Key Responsibilities:
• Assigned responsibility of conducting audits of manufacturing concerns, power distribution companies, hospitals, wholesale/ retail stores, clubs, engineering companies, educational institutions and financial institutions
Institute of Chartered Accountants of Pakistan