Ali Asghar Yousuf FCCA

Qatari Investors Group (QIG) is a diversified conglomerate listed on the Qatar Stock Exchange. The group owns and operates several subsidiaries in diverse sectors. Historically, the group’s focus has been on B2B operations. QIG’s asset base is well over US$ 1.25 billion.
1) Financial Accounting Role - Key Responsibilities
o To prepare following deliverables at every month end for accounting team:
 IFRS 16 - Calculation of lease amortization schedule and assess and new lease agreements.
 IFRS 9 - Calculation of expected credit losses of receivables and vendor down payments.
 Long term loan schedule bifurcating current portion and long term portion.
 Preparing intercompany matrix to ensure balances due to/due from are reconciled.
 Amortization of prepaid expenses booked at beginning of the year.
 Accruals Management.
 Calculate Income Tax / Deferred Tax.
 Approve and release various JVs posted throughout the month.
2) Management Reporting Role - Key Responsibilities
o Prepare monthly cost vs budget reports and circulate / document justifications on deviations.
o Prepare monthly cash report for the top management and arrange funds for various group entities
o Prepare month end deliverable pack which includes detailed analysis on segment profitability, revenues, investments, payables, inventory and NCI.
3) Insurance - Key Responsibilities
Maintain Group Insurance Master File and arrange insurance after calling for quotes from various insurance providers. I am solely responsible to arrange insurance requirements for the entire group. These include:
Life and Medical Insurance
Property All Risk (PAR)
Contractors All Risk (CAR)
Money and Fidelity Insurance
Comprehensive and TPL for Fleet
Director’s & Executives Liability
Apart from the above routine yearly renewals, I am also requested to arrange various ad-hoc insurances.
4) Budgeting - Key Responsibilities
o Approve a budget timeline in coordination with top management and all budget owners closer to Q3.
o Prepare budget templates to cover for expected OPEX and CAPEX. These will include annual budgets of current year, 8 month actual costs. Separate columns are provided for 4 month forecasts and budgets for the next year along with justifications of variances between forecasted and budgeted figures.
o CAPEX budgets are built in such a way as to prioritize the actual requirements of proposed items. This is to ensure budgets clearly depict the absolute must haves and the should haves.
o Filled templates are received and compiled by self and cleansing and ensuring justifications for all significant variances by way of conducting meetings between myself and budget owners.
o Budget presentations are prepared and the same are presented by myself to senior management along with owners.
o Group consolidated budgets are prepared at the end of budget cycle which is approved by senior management.
o Budgets to be uploaded in the ERP to monitor actual vs budgeted figures throughout the year.
5) Other Responsibilities:
o Preparing income tax returns and liaise with tax consultants for any query / clarifications.
o Supervise the continuous Internal Control Framework Review (ICFR) to comply with reporting requirements
o Preparing documents to comply with listing requirements of Qatar Stock Exchange.
o Review of fixed asset register, slow moving inventory and outstanding payables and receivables.
o Liaise with external auditors and ensure a timely audit is conducted.

Recruited to establish a costing and budgeting structure in the newly implemented ERP of the company. Coordinated with 10 departments of the company to gather a realistic budget after transferring knowledge and necessary know-how to each budget owner. Managed budgets of over USD 250 million. Hired has the second member of the team but quickly earned the position to lead the budgeting and costing department for over 1.5 years now.

Key Contributions:
 Analyze investment opportunities through various cost models (NPV, DCF, Payback, ROI, IRR)
 Developed a fixed monthly deliverable for higher management which would include actual cost analysis, variance analysis against budgets and prior months, graphical presentations, future outlook (forecasts), comparison of results from month to month and year to year etc.
 Managed budgets for 3 consecutive years and solely presented the same to Managing Director
 Presented top management of the company with highly lucrative business proposals with pay-backs of less than 2 years
 Generated cash savings of USD 10 million by implementing alternate inventory procurement methods
 Single handedly, successfully integrated budgeting and costing modules in SAP in-line with business requirements
 Initiated, designed and implemented system generated flash reports for management

COST AND MANAGEMENT REPORTING
• Lead monthly / quarterly cost review meetings with department managers and document reasons for deviations against budget
• Delivering on-going financial analysis and insight driven guidance through a continuous review, analysis, cost reduction initiatives and targets.
• Enhance the preparation of monthly management pack after book closure, comprising of financial statements, schedules and account level variance analysis with commentary, trend analyses on past financial and operational performance, root cause analysis, analysis of profitability drivers, scenario modelling for future options.
• Preparing executive presentations for management meetings and strategic business plans.
• Preparation of planned standard cost for cement, this includes acquisition of expense plans and activity plans from each department, verifying the accuracy and relevancy of data acquired and finally uploading the same in SAP.
• Verifying accuracy of cost center allocation for each expense being charged to cost centers.

BUDGETING AND VARIANCE ANALYSIS
• Lead, direct and manage the preparation, execution and analysis of the budgeting process on a timely manner and in accordance with the CFO directives on cost efficiencies for Direct Operational Costs, Manpower and Overheads and challenging budget holders to ensure optimum utilization of resource.
• Responsible for monitoring expenditure variances on ongoing basis and ensuring the actual expenditure in line with planned/budget. Lead investigation when variances are significant taking necessary control action.
• Prepare / Review financial forecasts and address the risks and opportunities coming from the forecast.
STRATEGIC RESPONSIBILITIES
• Develop, monitor and review, Internal Accounting Policies and Standard Operating Procedures for each area of operation within the business unit, in line with business needs, with focus on process improvement and internal control.
• Train and develop employees for succession planning and risk management. Align closely with Human Resources to recruit, hire, retain and support development of all team members.
• Regularly evaluate the department or teams objectives, plans, procedures and practices, and make appropriate changes if needed.
OPERATIONAL RESPONSIBILITIES
• Executing company’s actual costing run at each month end.
• Control and continuous development over the accrual process and prepare periodical reports to the management.
• Control over inventory process and ensuring stock levels are within the acceptable order and reorder quantities.
• Preparation of monthly / quarterly management pack.

My main responsibilities at Lucky Cement include the following:

• Preparing monthly reporting packages, in accordance with International Financial Reporting Standards (IFRS) for review of the higher management and the Board of Directors.
• Evaluations of possible acquisitions and take-overs and other business investment opportunities through various investment models, thereby assessing returns on such investments.
• Preparation of Annual Budgets for the Company and keeping track of budgeted targets with actual progress via variance analysis.
• Carrying out Costing Analysis of the Company and devising cost curtailment techniques for enhanced profit margins.
• Assisting External and Internal Auditors on their periodic assessments.

Working as an audit executive, I engaged with large teams through the planning, execution and conclusion stages of statutory audits, validation of financial reporting packages of multinational concerns and other varied special nature engagements. My responsibilities included engagement management, client relationship management, co-ordination with professionals in various fields like legal, actuarial and IT experts and decision-making for resolution of critical reportable matters. I was also responsible for ensuring that financial statements comply with all the applicable requirements of International Financial Reporting Framework.
Clientele includes:
- National Refinery Limited
- Unilever Foods Pakistan Limited
- GlaxoSmithKline Pakistan Limited
- Lucky Cement Limited
- National Foods Limited