Head Of Finance
Agriculture Company
Total years of experience :16 years, 0 Months
ERP System Implementation: Implemented SAP B1 System from scratch level to new data base and implemented all modules: Sales-A/R, Purchasing-A/P, Business Partners, Banking, Inventory, Production Module, Fixed Asset & Reports.
Risk Management: Identify and evaluate financial risks that might affect the performance of the organization and create mitigation methods. This might include credit risk, interest rate risk, and currency risk, among others.
Cash Flow Management: Keep an eye on the company's cash flow and working capital to make sure it has enough liquid assets to cover both its operational demands and financial commitments.
Budget & Budgetary Control: Implemented group budget and budgetary control mechanism including periodic reviews with senior management. Responsible to prepare and present annual master budget for the company including divisional wise and sub-divisional wise budgets.
Financial Planning and Analysis: Create and oversee financial forecasts, plans, and budgets. Analyse financial data to offer senior management insights and suggestions for strategic planning and decision-making.
Cost Control: Adopt cost-cutting techniques to reduce costs and increase revenue without sacrificing quality.
Financial Strategy: Work together with senior management to create long-term financial plans that are in line with the objectives of the organization.
Team Management: Direct and guide the financial teams, offering direction and assistance in accomplishing departmental and organizational objectives.
Performance Evaluation: Create benchmarks and key performance indicators (KPIs) to gauge how well certain projects or business units are performing financially.
Payroll Management: With support of HR Department, direct and guide to prepare the monthly payroll and WPS process
Financial Systems and Controls: Establish and maintain reliable internal financial controls and financial systems to protect firm assets and guarantee accurate financial recoding
Company Financial Policy & Accounting Policy: Development & review of Group Finance Policy for “Qatarat Agricultural Development Co”. To ensure that the business complies with all applicable laws, rules, and accounting requirements, and keeps up to date on these matters. And, implemented recently updated IAS 41, IFRS 15, IFRS 16 & IFRS 9 for ECL Provisions with other IFRSs.
MIS Report: Developed MIS Report for presenting to the board, developed 25 different performance reports with single database by using advanced level excel knowledge. And deliver financial reports that are accurate, timely, and compliant with IFRS.
External Auditing: Coordinate with external auditor (Big 4) for preparing stand-alone F/S and consolidated F/S for statutory requirements.
• Involvement in end-to-end finance and accounting functions of the organisation in compliance with IAS and IFRS.
• Lead “FIFA Arab Cup” in all stadiums-This company was awarded for Hospitality Services for FIFA Arab & World Cup
• Prepare project feasibility study for CAPEX approval and Cost Allocation among Cost Centers
• Arranging bank facilities (Tender Bonds, Performance Bonds, Advance Payment Bonds, etc)
• Review and approve all the vendors credit applications and all department payments
• Review and approve all the documents and making sure team accountants posting in the system (SAP FICO)
• Manage Capitalized asset based on capitalization policy and manage the additions and retirements of assets
• Review monthly payroll as processed and pre-reviewed by HR and compare against budget and previous month
• Setup and maintain reporting procedure aligned with internal control requirements
• Allocate work and perform switching of accountants according to merit and with respect to capabilities of each accountant
• Make sure accounting treatments for all kind of lease contracts are treated under IFRS 16
• ECL Provision for all contractual customers’ receivables under IFRS 9 in each reporting period
• Prepare a detailed month end closing checklists and closing the month before deadline
• Timely completed and submitted monthly MIS Reports for the company including Cost Center/Project basis P&L Report
• Preparing annual budget for the company including the budgets for Cost Center/Project
• Provide the functional evaluation of the staff in the department and assist in optimizing performance
• Work closely with Finance Manager in monitoring the company’s financial position, financial performance and cashflow
• Responsible for the trial balance and ensure accuracy of GL balance.
• Coordinate with internal and external auditors (Big 4) for preparing statutory and management accounts for company
• Leading a team of 3 members and directing the entire gamut of financial operations; evaluating organization’s financial performance, conducting financial analysis, driving financial planning and implementing overall commercial plans
• Formulating annual budget and conducting variance analysis to determine difference between projected & actual results and implementing corrective actions
• Developing monthly, quarterly & annual statutory financial statements, formulating annual budgets
• Providing financial information to external auditors to ensure that financial statements conform to IFRS
• Designing & implementing systems, policies & procedures to facilitate internal financial and process controls
• Spearheading business forecasting & financial modelling to help short-term and long-term planning of the organization; administering the generation of financial forecasts and business plans based on analysis
• Heading day-to-day accounting, cash, invoicing, MIS & analysis, legal & statutory compliances functions; monitoring entire accounts payable function from procurement through payment of invoices
• Motivating & monitoring team’s performance to ensure efficiency in process operations.
Manufaring, Trading & contracting companies
Highlights:
•Developed & led comparison of financial statements (Balance Sheet, Profit & Loss Account & Cash Flow Statement), comparing & analysing with the previous month to check variance
•Maintained a multi-currency loan portfolio with a large lender group and collaborated with banks to resolve treasury related queries
•Established annual budgets, capital expenditure budgets, forecasts, overhead recovery rates & budget variance reports
•Evaluated & reviewed financial records, financial statements; assessed the accuracy of financial reports completeness, conformance for reporting and procedural standards
•Coordinated with auditors at interim & annual audits and provided accounts & schedules, clarification & additional reports
•Successfully managed entire gamut of functions entailing supplier payments, records reconciliation, GL reconciliation, fixed assets transactions (addition, tagging, disposals, transfers and monthly depreciation), payroll & so on
•Contributed in the CAPEX approval process
• Processing monthly payrolls via WPS and calculating and finalizing leave and final settlements.
• Job costing & generating job basis report. And, monitoring the job performance of subordinate staff.
• Effective management of receivables and payables.
• Support to sales department for raising invoices and customer reconciliation; providing financial information and advice; advise managers on financial policy and control.
• Management of bank accounts including bank reconciliations (AED, USD & Euro Accounts) and prepare necessary material for audit purposes. Further, solely responsible for overseas bank transfers.
• Provide schedule of accrual, adjustments, amortization of prepayments and depreciation of Fixed Assets with a view of monthly closing of accounting books.
• Prepare the monthly result of operation (P&L); compare it with budget and Identifying and highlighting the key variances to monitor the performance of the division with timeline.
• Monitoring daily fund requirements and creating financial plans and cash flow statement, fund forecasting.
• Developing and maintaining relationships with banks and financial brokers and arranging bank facilities.
• Liaison with external auditors to ensure timely completion of audits and financial statements.
• Coordinate and direct the preparation of the budget and financial forecasts and report variances
• Prepare and present timely monthly/quarterly/yearly financial statements to the management
• Support month-end and year-end close process, employee benefits calculation (Airticket, EOS, Leave Salary)
• Payroll via Wage Protection System (WPS) - produce SIF (Salary Information File) file.
• Dealing with petty cash, monitoring credit cards payments & manage cash levels within banking limits
• Revenue Management of hotel & Inventory control of Kitchen, Coffee-shop & Store
• Controlling and approving the operation expenses documents in daily basis and aligning with the Budget control procedures. Responsible in making the variance analysis report summary on monthly basis.
• Management of receivables (Master/City Ledger) with Contract Based Company or guests.
• Dealing with www.booking.com & www.agoda.com for room reservation. And dealing with their system.
• Doing accounts reconciliation & intercompany reconciliation (Hotel & Restaurant)
• Review and authorize daily revenue report and assessing tax on monthly basis.
• Overseeing daily collection and overdue payment of guests & advising to Front Office for speedy collection.
• Updating daily transactions in accounting system and advising the selection and application of computer based accounting system for POS, Front Office, and Accounts & Management.
• Responsible to generate monthly, quarterly & yearly financial statements & present to Shareholder & Govt.
• Forecasts cash flow for administrative planning and liaising with banks if fund is required.
• Liaison with external auditors for finalization of audit reports for the submission to Government of UAE.
• Interaction with Govt Auditors for necessary audits and submission of necessary documents as required by the UAE law.
• Knowledge of book keeping and receivable & payable & Review all ledgers before preparation of F/S
• Interaction with external Auditors for finalization of audit reports.
• Finalization of monthly payroll & payments of salaries.
• Issuance of cheque to suppliers after adjustment of advances.
• Maintain fixed asset records and monitoring inventory level.
• Post several transactions to the appropriate contract/project and general ledger account.
• Arranging the payment to sub-contractors and suppliers
• Preparing, petty cash report on daily basis, cash flows and forecasting when necessary
• Maintain project-related records; create project accounts in the accounting system. And, transfer of expenses into and out of project-related accounts. And, report on project profitability to management
• Assist to Finance Manager to prepare financial monthly or quarterly reports from Systems downloads as required.
• Examining company accounts and financial control systems
• Gauging levels of financial risk within organizations
• Checking that financial reports and records are accurate and reliable
• Ensuring that assets are safeguarded
• Identifying if and where processes are not working as they should and advising on changes to be made
• Liaising with managerial staff and presenting findings and recommendations
• Undertaking reviews of wages.
• Verifies assets and liabilities by comparing and analyzing items and collateral to documentation.
• Prepare and present to management reports on audit findings, which might include material misstatements of financial information or severe control deficiencies, and provide recommendations on improving these shortcomings in the future.
Dissertation Title: The Impact of Working Capital Management on Organizational Financial Performance of Agricultural Industry in Qatar: Special Reference to Cash, Receivables & Inventory Management of Working Capital
Certified CFO Program endorsed by IFA, UK
Organisational Management Accounting Principles & Practice Accounting Control Systems Financial Information Systems Financial Economics International Business Law & Governance Business Analysis & Audit International Business Taxation Financial Accounting Marketing Management Information Management Strategic Management Financial Management Financial Modelling Management Accounting Financial Statement Analysis Strategic Cost Management (SCM) Strategic Business Analysis (SBA)
International Financial Reporting Standards, International
• Master of Business Administration (MBA - Specialization in Finance) at Banasthali Vidyapith University, India. (Awarded “Excellence in Financial Management” by the University) RESEARCH WORK in MBA • MBA in Finance – The Impact of Receivables Management on Working Capital and Profitability of Freight Forwarding Companies (Logistics Industry) in Dubai, UAE.
• Bachelor of Business Administration (BBA) in Finance & Accounting at Dr.B.R.Ambedkar University, India.
Financial Accounting, Management Accounting, Business Law,