Senior Accountant
Dream Group W.L.L.
Total years of experience :16 years, 2 Months
Responsible for all accounting operation of the construction division of the company.
Reporting directly to the C.F.O, personally handles the accounting tasks of Construction Division of Dream Property Development W.L.L. (TEMCO) and other Joint Ventures.
Preparing monthly financial performance statements and Operational P/L Statement.
Expert and detailed reconciliations of over six banks and other cash accounts - all discrepancies verification and reconciling.
Preparing cost sheet for all the Joint Ventures and projects.
Keeping a track on all project related costs and expenses.
Checking vouchers received from other divisions, reconciling intra company transactions.
Dealing with bank in relation with opening of Letter of credit, preparing LC repayment schedule.
Preparing monthly sales invoices as per the W.I.P and booking the revenues, preparing of payment schedules.
Responsible for all aspects of A/R, including billing, collections.
Participating in the preparation and implementation of financial plans.
Prepares daily journal entries and reallocations between inter-companies
Review monthly balance sheet reconciliations and necessary journal entries
Responsible for arrangement of all administrative expenses (Electricity, LMRA, GOSI etc...)
Coordinating and preparing the monthly operating budget and related forms/reports in the completion of the entire budget process.
Prepares inventory on a Weekly basis.
Manages month end closing process, ensure all transactions are properly recorded, preparing and uploading journal entries.
Approval of invoices, matching of delivery notes with the invoices, preparing check requests list for payments, expense reports and purchase requisitions.
Negotiating business terms with clients and associated organizations.
Accurate preparation of sales and purchases report.
Reconciling intercompany accounts for month end for all divisions
Provides timely explanations of variances between actual results and forecasts/budgets.
Prepares weekly reporting schedules for Finance review.
Prepares journal entries, reconciliations and trend analyses as required for monthly close.
Preparing and maintaining the Fixed Asset Register.
Participates in year-end audit. Creates a financial checklist to ensure all required items are available during the annual audit.
Monitor Payroll and Management Reporting Activity.
Prepare all other financial reports and analyses, balance sheet reconciliations and other general and administrative functions as may be required
Preparing monthly financial performance statements and Operational P/L Statement.
Develop and document business processes and accounting policies to maintain and strengthen internal controls.
Protect the organization’s value by keeping the confidentiality of information.
Analysis of the division wise actual events with the budgeted and report the variances to the management.
Preparing short term / long term budgets and plans for maximizing profitability & revenue
Prepare and Forecast cash flow positions, related borrowing needs, and available funds for investment.
Formulating budgets and conducting ratio/ageing variance analysis to determine difference between projected & actual results and implementing corrective actions.
Provide timely & Accurate Financial Information.
Maintaining Stores on perpetual inventory system & Stock taking.
Random checking of inventory items and material transfers.
Reconcile the stock levels in the system and Order Study.
Ensure that sufficient funds are available to meet ongoing operational and capital investment.
Draw analysis of the quarterly data to identify variance from trends and budgets.
Represent the company to financial partners, including financial institutions, investors, foundation executives, auditors, public officials, etc.
Monthly preparation of reconciliation statements (Bank, debtors and creditors).
Manage the day to day financial transactions.
Preparation of weekly aging of Accounts Receivables and Status Reporting to management.
Supervise the whole range of accounts Payable and Receivable.
Supervise the Invoice generation Operation & Credit Control.
Ensure reconciliation of all sub ledgers & general ledger is performed on regular basis.
Reviews, investigates, and corrects errors and inconsistencies in financial entries, documents, and reports.
Scrutinizing vouchers received from other branches.
Establish tables of accounts, and assign entries to proper accounts.
Documents financial transactions by entering account information.
Prepares financial reports by collecting, analyzing, and summarizing accounting information and trends.
Negotiating business terms with clients and associated organizations.
Controlling income and expenditure including liaising with and administering payroll.
Assisting Company’s Auditor in preparation of financial statements (Balance sheet, profit and loss statement).
Provide input to departmental goals setting process to achieve the organizational objectives.
Reviews, investigates, and corrects errors and inconsistencies in financial entries, documents, and reports.
Monitor Payroll and Management Reporting Activity.
Developing Budgets, Legal Compliance, Tracking Budget Expenses, Accounting, Managing Processes, Management Proficiency, Coordination.
Requesting vendors invoices by contacting them and providing list of pending flights.
Collection of LPOs from the respective departments.
Verification of all the Documentation of LPOs for avoiding any discrepancy.
Approval of LPOs from the designated authorities as per the authority matrix.
Handing over of LPOs for payment purpose.
Verification of LPOs along with the contract and the cash flows.
Proceeding vendor invoices by checking, saving, posting and auditing prices.
Coordinating with operations, vendors, commercial team regarding price audit.
Disputing wrong charges and requesting supporting documents and follow up till matter solved.
Responsible for overseas Accounts Payable processes
Forwarding cleared invoices to billing team for charging clients and preparing payment orders.
Verified, sorted, coded, processed and assembled invoices in ERP for manager approval.
Verified details of transactions, including funds received and total account balances.
Coordinating with collection team for offsets.
Sending the allocation details of our payment to vendors and requesting updated Statement of Accounts once finance team proceeds it.
Checking vendor statement and coordinating with billing team for client disputes.
Random checking of inventory items and material transfers.
Processed accounts payable wire transfer payments.
Scrutinizing vouchers received from other branches.
Monthly reconciliation of vendor accounts and reporting it to the Finance manager.
Preparation of Payroll for payment of salaries & wages.
Scrutinizing the Casual wages payroll, attendance and other dues etc.
Completed my MBA in Finance from ICFAI NATIONAL COLLEGE in 2008, with core subject being Management Accounting, Quantitative Methods, Financial Management ,Port folio Management and Mutual Funds,Personal Financial planning. I did two Management thesis first one the study on Investment behavior of people on GOLD EQUITY MUTUAL FUND which was issued by AXIS BANK OF INDIA. The SIP of Gold Equity Mutual Fund was equal to 1 gram of Gold. The 2nd Thesis was on the different types of costing techniques used in Industries as per the Industries Model.
Completed my graduation in commerce in the 2006 from Osmania University Hyderabad, my major subjects being Financial Management, Corporate Accounting, Advance Management, Income Tax, Cost and Management Accounting, Quantitative Techniques and Business Economics, Made presentation on Process Costing, Job Order Costing its method and Effects uses, Preparation and Analyzing of Cash flow Statement.