Financial Controller
Majid Al Futtaim
Total des années d'expérience :16 years, 4 Mois
April-2016 / Present Majid Al FUTAIM RETAIL, Kuwait
Financial Controller:
•Preparation of weekly forecast and updating the actual result Vs budget and history.
•Preparing a full analysis for Staff and operating cost and giving full explanation for the differences from the budget.
•Splitting the forecast sales by section after sending the Actual Sales To Department Head.
•Preparing the cash flow on a daily basis
•Preparing the P&L and Income Statement
•Preparing the Growth ratio vs. budget and vs. history.
•Assisting in the preparation of the Budget N+1.
•Preparing a full description to General Manager by monthly basis showing the Gain & Loss by Family accounts and the results will be matching with P&L.
•Preparation of splitting cost Allocation for Department head and section manager by percentage of their sales.
•Preparing the Growth & Degrowth Versus Budget and History N-1 by department and section.
•Calculate the Physical shrinkage and waste.
•Preparing the health insurance cost and splitting by Section .
•Prepare the pre-process and final process of Payroll.
•Guarantee that the fixed asset register is properly maintained and provide assets summary of information to the management regularly.
•Ensure proper and adequate insurance coverage.
•Ensure that financial aspects of the contracts are adhered to and that contracts are renewed in a timely manner.
•Ensure that payroll is processed accurately and timely.
•Prepare store performance analysis by Departments/Sections with store Management.
•Control suppliers’ payment terms and consequences (supplier balances, bad debts...).
•Ensure strict implementation of stock taking procedures.
•Support Management team with the budget/ forecast preparation, Control the respect of budgets and forecasts and analyze variances.
•Assist for the preparation of business presentations and reports for various stakeholders periodic.
•Communication with store for financial control and business analysis to identify the required needs and to provide them with the necessary financial data
•Ensure the strict implementation of Internal Audit recommendations
•Ensure the results (financial reports, cash forecasts and accounting processes) are accurately and timely completed.
•Perform monthly / yearly closings and ensure the preparation of statutory accounts (if applicable).
•Ensure implementation of auditors’ recommendations.
• Follow up, collection and allocation of cash, checks, petty cash and credit card accounts.
• Dealing with critical customer.
• Negotiating credit terms.
• Maintaining thorough, well organized accounts receivable customer files.
• Reconciliation of bank accounts. Verify that the amounts on the bank statement are consistent or compatible with the amounts in the company's Cash account in its G&L and vice versa.
• Reconciliation of cash flow (checks and cash).
• Reconciliation of outstanding checks & AWB.
• Reconciliation of cash AWB
• Process, transmit and run credit card transactions collected from customers
• Follow established procedures for collections (receipts, cash, checks and transfers)
• Prepare bank deposit entries.
• Follow up with customers regarding bounced checks
• Check and entry of travel expenses and re-imbursement’s
• Responsible for check and entry of the corporate credit cards used by staff.
• Responsible for currency purchasing (USD, Euro etc.)
• Contribution to preparation of monthly closing reports and responsible for other reports needed from Finance manager on regular and spot basis.
• Work on continuous process adjustments and improvements.
• Perform other accounting duties as requested.
• Sourcing of suppliers.
• Negotiating prices with suppliers.
• Delivering cost savings for the company.
• Resolving disputes and claims with suppliers and vendors.
• Petty Cash Reimbursement & keep track of company expenses.
•Issue monthly P&L and assist in forecast budget .
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August 2009 / December 2014 Bin Laden Group Jeddah, KSA
Chief Accountant
•Perform random internal audit review of all accounts to ascertain the reliability of the accounting records
•Ensure that accounting data are compliant with the Saudi tax and zakat regulations
•Report on the status of the accounts receivable and accounts payable; ageing balances, details per project, recoverability, due dates.
•Report on the corporate fixed assets and ensure that fixed assets registers and
allocation cost for depreciation are always up-to-date.
•Issue monthly financial reports consisting of balance sheet, profit &loss statement, project based on percentage of completion method.
•Ensure that cash book balances; cash accounts are reconciled on daily basis and maintain daily report on the corporate cash position.
•Ensure that bank accounts are reconciled and discrepancies are cleared
•Record the monthly allocation of the manpower and management costs to the various projects and report on variances between actual and forecast.
•Daily update of all accounts related to the procurement and subcontracts transaction including the accruals for the unbilled.
•Ensure that payments to supplier and subcontractors are processed without delay and in accordance with the internal control procedures
•Ensure that monthly reconciliations with major subcontractors and affiliate are done and discrepancies are cleared.
•Ensure that AP&AR modules are constantly in balance with the corresponding GL default accounts.
•Daily update per project of all accounts related to client receivable that cover the recording of billing and collection, unbilled works, reporting on delays between actual progress and work schedule and their adverse impact on cash flow and bank exposure
•Ensure that banks and cash transaction are posted on daily basis and that cash book and cash reconciliation are available for my audit review
•Supervise the monthly payroll recording and distribution processes; ensure that the accrued salaries are reconciled.
Febraury2008 / August2009 Bin Laden Group Jeddah, KSA
Internal Audit
•Applying all policies and procedures
•Working on job cost, actual cost, estimated cost and percentages of completion
•Making control on budget
•Checking inventories
•Checking trial balance
2004 - 2007 Saint Joseph University Beirut, Lebanon Bachelor of Business Administration
2003 - 2004 Saint Elie Al Jadida Beirut, Lebanon Bac. II in Experimental Sciences
