Accounting and Finance Manager
Fawaz Refrigeration and Air-Conditioning
مجموع سنوات الخبرة :16 years, 5 أشهر
Highlights:
-Reports to Group CFO
-Other key relationships:
- Group Credit Controller
- Group Director - Supply Chain
- Area Managers
- IT Manager
- HR Manager
-Product Line Sales Managers
Notable Accomplishments:
• Played an instrumental role in the professional development of 2 x Chief Accountants, 2 x Accounting Supervisors, 1 x Financial Analyst, 1 x Senior Accountant, 3 x Accounts Receivable Accountants, 4 x GL Accountants and 2 x Relations Executive across Dammam, Jeddah and Riyadh
Key Responsibilities:
• Manage end to end accounting activities associated with the General Ledger, Inventory, Accounts Receivable, Accounts Payable, Fixed Assets, Payroll and Cash management as per established policies, procedures and protocols.
• Analyze financial transactions, accounting activities to ensure accuracy, integrity and quality of all GL accounting transactions, journal entry transactions and supporting documents.
• Facilitate the management team in strategic planning & decision making by preparing Daily, Weekly, Monthly financial reports Package MIS, the following reports as Example:
Financial Statements (Balance Sheet, Income Statement), Consolidated Sales Report by product, region, category and salesman, Expenditure Report, Aging Analysis for Accounts Receivable & Accounts Payable, Stock Analysis and Customer Analysis.
• Calculate Landed Cost for Goods for local & overseas shipment
• Calculate Sales Commissions for product line managers and sales personnel.
• Coordinate with area managers on a daily basis and provide requisite information inclusive of analytical reports and details / break-up of expenses and warehouse transactions so that they could attain their performance objectives & targets.
• Earmark receipts from debtors to pay off vendors so that the current ratio remains within budgeted limits.
• Track Accounts Payable for accuracy, integrity and compliance with internal policies for all payments made to 3rd party local & overseas suppliers and share daily outstanding vendor payments to the management team along with due dates and projections for the next quarter.
• Manage Accounts Receivable through liaison with other departments and assure validity, consistency and completeness of collections; share Aging Analysis by customers, products lines and sales personnel with the management team along with projected collections for the next quarter.
• Match the cash balance in accounting records with that at bank through bank reconciliation statements, consolidate cash, debit and interest schedules for multiple bank accounts and share cash & bank position with the management team on a daily basis.
• Develop cordial relations with bank representatives from SABB, BSF and GIB for processing of loans, LC, LCR, Payment via open accounts and LG’s; providing facility status report to the management team inclusive of utilized & unutilized credit lines on a daily basis.
• Coordinate with HR & Administration department for processing the payroll, B. Trips, vacation settlement, EOSB settlement for the employees.
• Keeping a record of audit schedules and Designing audit file prior to auditing simultaneously conducting regular follow up with the auditor (Baker Tilly) to enhance smooth Audit workflow. As well as drafting essential Zakat reports for the auditor. And following up with the auditor till getting the final financial statements for the group and the final zakat certificate
The company has a strong foothold in oil & gas and electrical, mechanical & instrumentation verticals and provides complete solutions, services and technology transfers to diverse market segments.
Key Responsibilities:
• Planning, organizing and evaluating all accounting procedures and policies to ensure transactions are efficient/ effective, accounting is accurate and updated.
• Performing general accounting functions including analysis of all journal entries pertaining to sub ledger accounts payable, accounts receivable, petty cash, cash transactions, accruals and pre payments along with all kind of revenue and capital expenditures, enabling smooth finalization of company accounts.
• Conducting follow up with the operation team to ensure the lead time of delivery of material and inventory activities along with maintaining efficient business relations with the customers, thus developing a large customer base.
• Instrumental in maintaining efficient business relationship with all the vendors, simultaneously preparing reconciliations of Vendors / Insurance Companies and other service providers.
• Maintaining records of fixed asset acquisitions and dispositions in the accounting system as well as processing daily accounts payable and on time supplier’s invoices and payments to enhance better workflow.
• Accountable for tracking the compilation of under progress project costs into fixed asset accounts, thus close out those accounts once the related projects have been completed.
• Liable for maintaining control over all receivable transactions to assure smooth workflow on a daily basis, consequently analyzed old accounts receivable and accordingly communicated the same with the sales team for collections.
• Maintaining records of fixed asset acquisitions relating to conducting follow up on periodic physical inventory counts of fixed assets, computing depreciation for all fixed assets and accordingly updating the detailed schedule of fixed assets and accumulated depreciation for proper functioning.
• Actively involved in reviewing all entries related to export & import letters of credit, accepts payment and bank charges of issuance, acceptance and amendment of LC’S.
• Facilitating the Finance Manager and Financial Controller with preparation and consolidation of annual budget, ensuring its timeliness, accuracy and consistency, thus analyzing variances and suggesting corrective actions.
• Utilizing key system audit tools to maintain close tabs on account payables, account receivables and due diligence for financial accounting and year-end closing.
• Keeping a record of audit schedules pertaining to fixed assets and various others, simultaneously conducting regular follow up with the auditor (Talal Abu Ghazala) to enhance smooth workflow.
• Resolving various issues occurred on a daily basis with excellent understanding of GAAP to ensure smooth functioning of the operation in an efficient and effective manner.
• Streamlining the preparation of financial statement annually pertaining to income statement, balance sheet, owner equity statement, cash flow statement, reconciliation of bank, inter companies’ and customer statement to ensure accuracy and completeness of financial information.
• Designing audit file prior to auditing as well as drafting essential Zakat reports for the auditor during auditing and internal management & various other reports for periodic top management meetings, thus recommending improvement in organization’s accounting /management practices and internal control systems.
• Preparing monthly, quarterly and annual reports, presenting tailored financial business plans and budget to the Finance Manager to facilitate decision making.
Group Industries:
• HVAC, Baseelah Mechanical Works Co., HVAC construction work
• Gulf Radeef Industrial Project Co., Steel & Stainless steel pipe trading and steel fabrication.
• Khazafyat Alsharq Co, Ceramic Trading and designing work.
• Sendab international Co., Chemicals Trading co. specialized in water treatment chemicals
• Marsam Wooden Works Est., furniture fabrication & Trading.
Highlights:
• Played a pivotal role in spearheading 4 Accountants.
Key Responsibilities:
• Handled an array of accounting operations in compliance with organizational policies/ procedures, ethical practices and guidelines of accrediting organizations.
• Supervised fixed assets accounting on a monthly basis along with managing and controlling inventory costing and COGS, ensuring accuracy and acquiescence with established accounting standards and procedures.
• Conducted follow up of purchases in close coordination with the suppliers, thus audited usage and authorized orders to ensure continual supply with minimal idle stock.
• Analyzed purchase ledger transactions and reconciled them to determine accuracy of all purchase entries.
• Processed full-cycle of accounts payable, ensuring timely and accurate payment of vendor invoices and reviewed/ analyzed aging and other accounts payable reports.
• Oversaw the payment process, ascertaining prompt and accurate payments to vendors and ensured the glitch free flow of funds.
• Ensured clear channels of communication between the company and suppliers by answering email queries, setting payment plans and dealing with client walk-ins (face to face meetings).
• Constantly interacted with vendors to maintain smooth business relationship, thus updated the vendor particulars in the system and maintained accurate records of advance payment to vendors and clearance of the same.
• Monitored the month end period closures and ensured that revenue & customer credit analysis reports are presented to the management in a timely manner and with accuracy. Formulated tailor made MIS reports for the use of management as per the need.
•Provided weekly reports of invoicing totals/aging totals and cash receipts to the senior management for providing recommendations for the same.
• Responded and catered to inquiries/ complaints from customers in a timely manner to assure optimal levels of service and long term business relations.
• Handled the whole gamut of payroll process pertaining to calculation and accruals of vacation pay, EOSB, vacation air fare and business trip allowances.
• Critically reviewed and analyzed current payroll of all employees' benefits and compensation procedures to recommend and implement changes leading to best-practices.
• Lend a helping hand to the Finance Manager in drafting Zakat yearly Report and accordingly conducted follow up with payment until the achievement of the final Zakat Certificate.
• Followed up with various auditors encompassing Deloitte and Aldar Audit Bureau with Grant, Thornton International Membership, simultaneously handled the audit process including issuing of the financial statements and ensured that audit is conducted in an optimal way.
• Kept abreast of all applicable procedures, pertinent legislation, rules, regulations and court decisions that may relate to organization's financial affairs functions.
• Drafted detailed reports for Group Chief Accountant and making recommendations to improve individual/establishment accounting/management practices.
Key Responsibilities:
• Assisted with day to day operations of the accounting department, thus identified, analyzed and resolved accounting discrepancies and ascertained that all policies and procedures are aligned with the organizational goals.
• Instrumental in entering all payable invoices once the necessary approval is obtained from purchasing division and store department.
• Maintained and recorded all accounts receivable/ payable disbursements and posted them to appropriate ledgers to ascertain efficient record keeping and retention.
• Managed the preparation of suggested cheques list as per the due date, aging report & priority along with preparing all the cheques after getting the necessary approvals.
• Fostered effective channels of communication with consultants if required for getting the necessary approvals, thus accountable for issuing all receivable invoices for seamless functioning of activities leading to optimal growth chart of the organization.
• Conducted follow up for collections, thus entered collections receipt vouchers in accordance with accounting principles and standards.
• Responsible for managing the monthly payroll process for all employees and for projects man power rental, whilst ensuring strict adherence to organizational policies and procedures.
• Drafted reconciliation statements of cash/bank accounts to identify accounting discrepancies and provided periodic reports to the senior management to aid corrective action.
• Efficiently dealt with various banks for issuing letters of guarantee consistent with overall goals and objectives of the organization.
• Assumed responsibility for posting all journals transactions including cash payments and receipts in line with accounting standards.
• Handled accounting tasks related to reconciliation for payable/receivable account, preparation of monthly bank reconciliation & monthly expenditure analysis report for all current projects, ensuring accuracy, speed and efficiency.
• Monitored projects cash flow, thus prepared all the requisite reports for yearly auditing in alignment with the company's strategic vision.
• Drafted, monitored and analyzed periodic financial reports for the Group Chief Accountant that depict the organization's financial position, such as trial balance, cash flow projections, profit and loss account, balance sheets, monthly commission/income statements, accounts receivable/ payable listings and various other financial reports.
• Kept a record of individual tax declarations and full documentation required by the tax offices by filling them in an accurate manner.
•Supervised and monitored the whole spectrum of accounting functions pertaining to posting of all payable & receivable invoices of various customers in the accounting software to ascertain smooth functioning of day to day activities.
•Assisted in performing daily work of the superiors, whilst ensuring strict adherence to organizational policies and procedures.
• Maintained records of customer interactions and transactions, recorded details of inquiries, complaints and comments, as well as actions taken to cater the same.
Training Courses & Certifications: • Accounts Preparation - Egypt • Certificate Course in English - American University, Cairo, Egypt • Diploma in Software Applications (MS Word, MS. Excel, MS PowerPoint and MS Outlook) • “CMA Part One Course” - Morgan International - Dammam, KSA
