Muhammad AbuBakar ACCA BSC SOCPA

• Optimized company investment portfolio performance, recording investment activities, carrying out variance analysis, and delivering comprehensive reports to senior management for strategic review.
• Prepared comprehensive financial statements, including balance sheets and profit and loss statements, to succinctly summarize the organization’s financial status and performance.
• Validated, allocated, recorded, and reconciled financial transactions within subsidiary accounts, ensuring meticulous balance and accuracy.
• Formulated and authored comprehensive finance policies and procedures manual, overseeing its seamless integration and enforcement across the organization, and ensuring adherence to accounting and finance protocols.
• Forecasted and constructed robust monthly cash flow projections, involving the present month and subsequent periods to proactively avert liquidity shortages and payment defaults within the organization.
• Facilitated External Auditors by providing requisite data and clarifications and insights to expedite and conclude year-end audits comprehensively.
• Oversaw organizational Zakat and Tax liabilities, liaising with Tax Department for timely submission of VAT and WHT returns on a quarterly and monthly cadence.
• Executed monthly payroll procedures with precision, encompassing comprehensive salary processing, calculations of End of Service Benefits (EOSB), and Government Organization for Social Insurance (GOSI) contributions.
• Created comprehensive monthly Management Information System (MIS) packages encompassing financial data from all subsidiaries and equity-accounted investments and adeptly delivered insightful presentations to the stakeholders.
• Collaborated closely with subsidiaries to facilitate precise and streamlined data integration, ensuring accurate recording, and reporting in compliance with IFRS standards for consolidated financials.
• Conducted a rigorous monthly reconciliation of financial records, documenting provisions, and expenses while scrupulously scrutinizing budget deviations to identify causal factors; prioritized thorough monthly, quarterly, and annual comparisons with actual performance to enhance financial accuracy.

• Generated monthly receivables aging reports for various seaport revenue streams and delivered them to senior management, showcasing the stratification of outstanding balances across different time frames to facilitate strategic financial decision-making.
• Conducted comprehensive financial analysis to formulate and propose resource optimization strategies, devised tactical suggestions, and upheld resolutions for prevailing business and fiscal challenges.
• Ensured the precision and adherence to reporting and procedural benchmarks in the generated financial reports.
• Analyzed and provided strategic insights into business operations, encompassing intricate assessment of revenue and expenditure patterns, comprehensive evaluation of financial obligations, and anticipation of forthcoming income streams.
• Ensured adherence to established protocols and regulations to uphold accurate financial documentation and reporting standards.
• Performed monthly reconciliations for accounts payables and receivables, diligently tracking and addressing outstanding balances.
• Analyzed operational processes to pinpoint latent inefficiencies, promptly informing senior management, and implementing strategic measures to curtail resource wastage, thereby optimizing cost allocation.
• Examined and assessed business operations, discerning prevalent trends, scrutinizing costs and revenues, evaluating financial commitments and obligations, and formulating projections for forthcoming revenues and expenses.
• Led year-end inventory reconciliation at the company's warehouse, facilitated seamless external audit procedures, and actively contributed to the preparation of the Final Accounts.

Key Achievements:

 Achieved a remarkable 31% reduction in transportation idle costs through strategic management and optimization.
 Successfully executed the integration of ORACLE R12 within the transportation and seaport divisions, driving enhanced operational efficiency and led the seamless implementation of VAT in Saudi Arabia for the port and transportation sectors, ensuring compliance and operational excellence.

• Efficiently managed end-to-end processing of accounts payable module in SAP, overseeing invoice validation, accurate data entry, timely disbursements, and seamless reconciliation, contributing to enhanced financial workflows.
• Streamlined customer order processing in the SAP system, orchestrated seamless goods delivery while optimizing cost, and improving financial efficiency.
• Validated day-end sales report by cross-referencing with bank drafts to ensure accurate daily closure.
• Administered, oversaw, and assessed financial budgets, created regular reports that juxtaposed projected expenses against realized expenditures.
• Executed and managed daily General Ledger (G/L) accounting operations and precise record-keeping.
• Optimized petty cash expenditure by scrutinizing expense patterns, minimized outflows, and enhanced overall cost efficiency.
• Carried out comprehensive bank reconciliations encompassing both domestic and international financial institutions.

Key Achievements:

 Successfully migrated data from ORACLE Retail Management software to ORACLE EBS Standard Software, involved directly with the migration and reconciliation process.
 Successfully managed to control the petty cash expenses of retail outlets.

Processing of customer orders through an automated system (SAP) with ultimate planning of delivery of goods
• Reconciliation of day-end sales report with the bank drafts and ensure daily closing.
• Performed Bank reconciliations including the local and foreign banks.
• Maintain general ledger (“G/L”) day-to-day accounting, and record-keeping.
• Managing the Petty cash expenses through analyzing the nature of expenses, reducing to a minimal level, giving ultimate productivity.