عادل Parkar

• Managed end-to-end financial accounting operations, including accounts payable/receivable, general ledger, invoicing, treasury, payroll, and fixed assets, ensuring precise and timely financial reporting.
• Played a key role in finalizing the trial balance by meticulously recording transactions, resulting in accurate and compliant financial statements.
• Oversaw financial closing cycles, variance analysis, MIS reports, and contributed to financial statement preparation and review.
• Effectively managed cash flow to ensure sufficient fund availability while proactively addressing potential shortfalls.
• Executed treasury strategies, including negotiating Wakala interest rates, optimizing fund portfolios, and managing foreign exchange risks and transactions to enhance financial health.
• Prepared daily bank and cash balance reports, providing in-depth analysis and actionable recommendations.
• Developed fund position reports for planned payments across entities, offering strategic insights for management decision-making.
• Ensured compliance with local regulations, including KAFS and Zakat calculations in adherence to Kuwaits legal requirements.
• Conducted thorough reviews of periodic accounts, audited transactions, and maintained adherence to legal and regulatory guidelines.
• Coordinated with internal and external auditors to define audit objectives and provided necessary schedules, documentation, and clarifications.
• Enhanced reconciliation processes across general ledger, balance sheet, control accounts, supplier/customer accounts, and intercompany accounts, maintaining accuracy and transparency.
• Generated detailed financial reports, including supplier balance reports, collection income tracking, and foreign exchange transaction summaries with variance analysis.
• Designed and implemented financial policies and standard operating procedures (SOPs) to streamline workflows and define authority delegation.
• Collaborated with HR for seamless payroll processing, reconciliation of payroll-related accounts, and prompt resolution of payroll inquiries.
• Fostered strong relationships with internal and external stakeholders, efficiently resolving issues while upholding ethical standards.
• Provided comprehensive finance and accounting support to RGSG Muscat School, efficiently managing daily operations and resolving inquiries.
• Successfully implemented the Edunation system with integrated payment gateway functionality at RGSG Muscat School, significantly improving operational efficiency.
• Supervised fixed asset transactions, including capitalization, transfers, depreciation, and disposals.
• Verified supplier invoices against contracts, purchase orders, and payment terms, preparing comprehensive reports on supplier balances and advances.
• Acted as the custodian of vendor security cheques and bank guarantees.
• Monitored corporate bank account updates, ensuring compliance with mandate revisions, ownership changes, KYC, FATCA, and CRS requirements supported by legalized documentation.

• Prepared and assessed monthly journal entries for recurring expenses, accruals, deferrals, and investment activities, ensuring accuracy and compliance.
• Performed comprehensive balance sheet account reconciliations, as well as monthly bank reconciliations, addressing and resolving outstanding and stale checks in a timely manner.
• Maintained and updated monthly schedules for prepayments, accruals, reclassifications, amortization, cost of goods sold (COGS), and intercompany reconciliations.
• Revised and analyzed 3-stage and flux MIS financial reports monthly, providing actionable insights and recommendations to the leadership team for strategic decision-making.
• Delivered thorough variance analyses and reporting to identify trends and support future planning.
• Identified opportunities for business process enhancements and collaborated in the design and implementation of modifications to improve operational and financial efficiency.
• Developed strategies to streamline reconciliation processes and maintain adherence to accounting standards and internal controls.
• Ensured all reconciled accounts were aligned with accounting standards, internal policies, and regulatory requirements, promoting accuracy and transparency in financial operations.

• Managed diverse accounting and financial tasks within a dynamic, fast-paced environment, ensuring efficiency, accuracy, and compliance in all processes.
• Maintained detailed records of financial transactions, journal entries, payroll entries, and petty cash, laying a strong foundation for accurate preparation of financial statements.
• Supervised financial closing cycles, variance analyses, and MIS reporting while supporting the preparation and review of financial statements.
• Produced comprehensive treasury reports, tracking fund utilization, guarantee maturity, post-dated cheques (PDCs), and interest payments, providing actionable insights for management.
• Prepared rolling 90-day and 24-month cash flow forecasts to support informed financial decision-making and optimal resource allocation.
• Directed treasury operations, including cheque issuance, debt documentation, currency bookings, and execution of foreign exchange deals.
• Oversaw a portfolio of 20+ local and offshore bank accounts, maintaining detailed databases, reconciling transactions, and ensuring accurate reporting.
• Drafted and submitted formal bank communications, including Trade Requests (TR), Usance Requests (UR), and Forward Trade Requests (FTR) related to loan and facility interest payments.
• Ensured compliance with KYC, FATCA, and CRS regulations by updating company profiles and maintaining statutory documentation.
• Managed bank mandates, facilitating changes to authorized signatories in accordance with board resolutions and regulatory requirements.
• Prepared and submitted accurate monthly VAT reports and returns, ensuring strict compliance with tax regulations.
• Delivered detailed analyses of the Chart of Accounts (COA) code blocks and segments, identifying optimization opportunities for greater efficiency and precision.
• Identified opportunities to improve processes and mitigate risks, applying a strong understanding of accounting principles, banking regulations, and treasury operations.
• Managed the payment approval process, ensuring compliance with Delegation of Authority (DOA) guidelines through thorough preparation and review of supporting documentation.
• Monitored and maintained optimal bank and cash balances, managing funding requirements and executing timely cheque and wire transfers to ensure operational continuity.
• Supported leadership with data-driven insights through accurate forecasting, reporting, and variance analysis.
• Fostered productive relationships with banks and financial institutions, ensuring clarity and precision in all communications and transactions

• Formulated annual budget, prepared variance analysis, analysed financial statements & credit reports, reconciled inter-company accounts and managed accounts receivables & payables
• Contributed in ensuring that payroll was posted correctly to the general ledger, salaries & benefits are accurately recorded and payroll liabilities are paid on monthly basis
• Monitored customer LC documentation & submission to the bank, facilitated preparation of LC for export & import along with bank guarantee record
• Creating chart of account code block/segments for setting of Business Unit in ERP System,
• Processed vendor payments by scheduling pay checks and ensuring payment is received for outstanding credit
• Reviewed and controlled recording of sales & receivables and maintained customer’s accounts to ensure that accounts receivables reflect correct and accurate status
• Conducted proper credit investigation of potential customers; evaluated and reviewed the credit worthiness of customers according to company credit policy
• Steered inventory reconciliation shortages / excesses of the stock counts to ensure accuracy of inventory in our books of account; maintained stock count on periodic basis with physical inventory and system inventory
• Controlled the recording of liabilities and maintained creditors accounts to ensure accounts payable reflect correct status of liabilities
• Supported issuance, amendment and cancellation of Bank Guarantees, Letter of Credits in the MENA region including preparation of applications to bank to issue guarantees through corporate / local credit facility
• Reviewed the Bank Guarantee Report and followed up with the internal group for status of guarantees expired/expiring in the upcoming months
• Checked the actual bank guarantee charges as per bank statement and confirmed the charges were in line with credit facility agreement; maintained bank guarantee database and saved necessary documents
• Facilitated the processing of employee expense reports, tracked disputed invoices, performed ageing analysis on monthly basis and updated price list in the system

Transformation/Reconstruction Of Financial Statement From Tally To Excel Sheet
 Preparation Of Accounts For Company And Clients, Maintaining Cash Book Of Company, Receipts, Payment Of Clients & company
Into Tally
 Account Payable’s & Receivable’s, Aging & Analysis
 Maintaining Sales And Purchase Register And Passing Journal Entries Into Tally
 Passbook Analysis & Bank Reconciliation
 Reconciliation Of Securities With Custodian Statement & SAP Data
 Bank Audit, Internal Audit And Concurrent Audit Undertaken For General Insurance Corporation Re For Investment Department &
Reinsurance Department & Preparation Of audit report
 Ensure payments received and check deposits are timely recorded and properly coded
 Reviewing Of Investment Done By GIC Is Appropriate As Per IRDA & Board Investment Policy.