Akbar Achumadam

Key Achievements:
 Collaborated with business development teams to reduce accounts receivable credit period days and the bad debt rate; to reduce the cash conversion cycle and secure financial adequacy at all times.
 Streamlined the process of financial documentation and implemented solutions for effective management of Accounts Payable & Receivables; improved efficiency levels through eradication of errors and precise invoicing and billing.
 Critically reviewed procurement process to identify and eliminate bottle necks to generate massive savings and enhance profitability of the company.

Key Responsibilities:
 Maintaining a complete and accurate financial accounting system for the company by analyzing and journalizing financial transactions, posting them to the relevant general ledger, accounting for accruals/prepayments, allocating revenues and expenses.
 Summarizes financial status by collecting information; Preparing trial balance, income statement and balance sheet, cash flow statement; using reliable forecasting techniques to prepare business specific reports to assist management in decision making.
 Generating project progress billings on a monthly basis, Co-ordinating with QS Department to eradicate the errors and discrepancies allied with the bill; assuring that all the progress bills are issued and submitted to the client.
 Archiving payment certificates and maintaining records of uncollected amounts on a monthly basis for all projects while ensuring that the latter align with the terms and conditions of the contract.
 Updating and monitoring records of project specific documents i.e. contracts, sub-contracts, letter of awards and bank guarantees; helping management evaluate project progress by outlining details of current financial situation, value of the contract, variations between actual and budgeted costs, status of advance payments, retentions, suspensions and deductions.
 Critically monitoring cash flow movements, reconciling accounts receivable balances, preparing aging reports, and assisting the Business Development Team in taking stern action against customers whose payments have become overdue.
 Managing Trade Finance with sourcing and utilization of funds from various banks.
 Establishing and monitoring Letter of Credits and Bank Guarantees, and sharing financial statements and other required documents with the banks on a quarterly basis for enhancement of existing facilities.
 Preparing Bank Reconciliations on a monthly basis for verifying cash balances and analyzing receivables and payables for managing liquidity; collaborating with relevant divisions for resolving matters associated with reconciliations prior to closure of accounts every month.
 Established a system of controls, procedures and forms for accurate recording of acquisitions/disposals/ depreciation of fixed assets in the accounting system; updating and maintaining records of fixed assets in a database which includes records of asset identification tags, location, physical quantity and credentials of custodians.
 Conducting physical count of fixed assets on a quarterly and annual basis to identify anomalies; investigating and sharing them with the management for taking action against the custodians.
 Provides financial information to management by researching and analyzing accounting data; and preparing management reports.
 Completes external audit by analyzing and scheduling general ledger accounts; providing information for auditor.

Key Achievements:
 Collaborated with business development teams to reduce accounts receivable credit period days and the bad debt rate; to reduce the cash conversion cycle and secure financial adequacy at all times.
 Streamlined the process of financial documentation and implemented solutions for effective management of Accounts Payable & Receivables; improved efficiency levels through eradication of errors and precise invoicing and billing.
 Critically reviewed procurement process to identify and eliminate bottle necks to generate massive savings and enhance profitability of the company.

Key Responsibilities:
 Maintaining a complete and accurate financial accounting system for the company by analyzing and journalizing financial transactions, posting them to the relevant general ledger, accounting for accruals/prepayments, allocating revenues and expenses.
 Summarizes financial status by collecting information; Preparing trial balance, income statement and balance sheet, cash flow statement; using reliable forecasting techniques to prepare business specific reports to assist management in decision making.
 Generating project progress billings on a monthly basis, Co-ordinating with QS Department to eradicate the errors and discrepancies allied with the bill; assuring that all the progress bills are issued and submitted to the client.
 Archiving payment certificates and maintaining records of uncollected amounts on a monthly basis for all projects while ensuring that the latter align with the terms and conditions of the contract.
 Updating and monitoring records of project specific documents i.e. contracts, sub-contracts, letter of awards and bank guarantees; helping management evaluate project progress by outlining details of current financial situation, value of the contract, variations between actual and budgeted costs, status of advance payments, retentions, suspensions and deductions.
 Critically monitoring cash flow movements, reconciling accounts receivable balances, preparing aging reports, and assisting the Business Development Team in taking stern action against customers whose payments have become overdue.
 Managing Trade Finance with sourcing and utilization of funds from various banks.
 Establishing and monitoring Letter of Credits and Bank Guarantees, and sharing financial statements and other required documents with the banks on a quarterly basis for enhancement of existing facilities.
 Preparing Bank Reconciliations on a monthly basis for verifying cash balances and analyzing receivables and payables for managing liquidity; collaborating with relevant divisions for resolving matters associated with reconciliations prior to closure of accounts every month.
 Established a system of controls, procedures and forms for accurate recording of acquisitions/disposals/ depreciation of fixed assets in the accounting system; updating and maintaining records of fixed assets in a database which includes records of asset identification tags, location, physical quantity and credentials of custodians.
 Conducting physical count of fixed assets on a quarterly and annual basis to identify anomalies; investigating and sharing them with the management for taking action against the custodians.
 Provides financial information to management by researching and analyzing accounting data; and preparing management reports.
 Completes external audit by analyzing and scheduling general ledger accounts; providing information for auditor.

Key Achievements:
 Analyzed monthly expenses reports and prepared journal entries.
 Resolved queries associated with general ledger transactions and balances.
 Established good working relationships with customers/clients.

Key Responsibilities:
 Prepare, examine and analyse accounting records and other financial reports to assess accuracy, completeness and conformance to reporting and procedural standards.
 Managing accounts payable by critically reviewing payment requests, checking accuracy of invoices, verifying supporting documents and assuring approval has been taken from an authorized person.
 Preparing checks on the agreed payment dates and ensuring that all payments (accrued and paid) are posted in the correct month by maintaining inventory of pending payables and verifying status of purchase orders and registration of invoices.
 Preparation of Accounts Payable Ageing report and Ensuring that all the Payments are in alignment with the terms and conditions of the Purchase Orders/Contracts.
 Maintains and balances subsidiary accounts by verifying, allocating, posting, reconciling transactions; resolving discrepancies.
 Reconcile and review general ledgers, post journal entries, and assist Senior Accountant with the preparation of financial statements.
 Assists in preparation of monthly management report and accompanying schedules and worksheets.
 Review detailed analyses of fixed asset general ledger accounts, and forecast depreciation expenditure on a monthly, quarterly and annual basis
 Prepares reports for each project pertaining to the financial situation of the project, value of the contract, variations, Advance payments status, retention, suspensions, and deductions.
 Preparing Bank Reconciliations on a monthly basis for verifying cash balances and analyzing receivables and payables for managing liquidity; collaborating with relevant divisions for resolving matters associated with reconciliations prior to closure of accounts every month.
 Manage and conduct year end physical stock count of inventory; analyse the variances between physical and system stocks.

Key Responsibilities:
 Compiles and analyzes financial information to prepare entries to book of accounts, such as general ledger accounts, documenting business transactions.
 Processing payment requests in order of priority after checking accuracy of invoices, verifying supporting documents and assuring approval has been granted from an authorized person.
 Assigning payment dates to invoices that have not been paid after checking vendor code and entries in the general ledger and matching the invoice payment with the amount on the check.
 Maintaining vendor files in a systematic and orderly manner for reference purposes and ensuring that accounting systems, procedures and policies are aligned with the company’s guidelines.
 Verifying authenticity of account discrepancies by obtaining and investigating information from sales and customer service departments, and from customers.
 Prepares bank reconciliation on monthly basis. Maintained a record of the company’s bank accounts with all correspondent banks.