Financial Analyst
GEDAC ELECTRIC
Total years of experience :25 years, 2 Months
- Financial Analyst in researching and resolving accounting and other fiscal report discrepancies and problems issues and periodically provide lead assignment over lower level accounting staff on assigned projects.
- Preparing monthly financial statements viz; Profit & Loss Account, Balance Sheet, Statement of Cash Flows along with analysis schedules for management reporting
- Preparing and present Budget Analysis for Annual Business Plan and designing systems to monitor variances with actual.
- Co-coordinating with Group Internal and External Auditors on all accounting matters.
- Responsible for Letter of Credit & Letter of Guarantee in Finance Department. On the request of Commercial & Procurement Dept. preparing for issuance of Letter of Credit as per Purchase order terms & conditions and slandered company policy towards Credit & Liabilities for import & -Export Letter of Credits.
- Monitor and review Import and Export Letter of Credits & Letter of Guarantee documents for submittal (export L/C) and acceptance (Import L/C) before authorized signatories. Follow up with customers for any kind of discrepancies in L/C’s, material, expiry dates. For timely collections.
- Preparing Status reports to Management for timely decisions for L/C Credit Facility from banks and for cash flow problems and Re-financing of L/C’s or discounting of L/C’s.
- Review and check physical inventory input, receives and analysis of the cost of inventory for the month. Preparing monthly schedule for the collectors, monthly budgets and cash flow on fortnightly basis.
- Conduct field Audit regarding status of accounts/stock at branches and on projects sites.
- Reporting on existing operations cycle and introducing required internal control systems to match organization’s Industrial Standards.
- Generate multi-angular reports and analysis as required by Management amd Head Quarter formats
- Preparing Zakat Schedule and Preparation of Zakat Form in DZIT Formats
Key responsibilities include managing of Letter of credits and executing all accounting and finance aspects assigned to the accountant including:
Payables :
- Checking and verifying purchase ledger and journal vouchers and authorizing for posting to General Ledger
- Checking and authorization of the payments etc.: Cheque, Transfers and Drafts;
- Payable Analysis and online transmission of related reports to Management.
- Preparing monthly & fortnightly cash flow budget and payment plan with coordination of procurement & commercial Manager.
- Handling Accounts Reconciliations on monthly bases, also approving the Site Visits Expenses.
Accruals & Provisions:
- Controlling and setting measures for Accrued Liabilities & Provisions
Fixed Assets Management :
- Classifying and Recording of Fixed Assets;
- Preparing the monthly Depreciations Schedule;
- Preparing budgeting plan for Machinery & Tools.
Receivables:
- Checking and verifying correctness of Sales Invoices with order acknowledgement;
- Planning & budgeting of Collection to certain Bank account to having good control for Project Financing and cash flow
- Checking and verifying Cost of Good Sold correctness with BOM and percentages of FOH.
- Keeping control on Cost of the projects to Reporting to Project Management and Higher Management.
Banks & Petty Cash;
- Verifying and Reporting online petty Cash & Bank position to Executives on daily basis.
- Bank Reconciliations
- Verification & Authorization for L/C Settlements and discrepancies.
- Refinancing of L/C settlements and rollover to STL
- Booking purchase ledger and journal vouchers
- Preparing Payment voucher and recording in the system
- Handling Site Visits Expenses for staff
- Classifying & journalizing the payroll expense entry
- Preparing Accounts Reconciliations on monthly bases.
- Classifying and Recording of Fixed Assets;
- Performed As assistant Accountant in TAX & Projects L/C Dept. to support the preparation of computerized and manual reports.
- Tracking and updating of records, including maintaining in accessible systems of records.
- Prepare collection reports and schedule for collectors.