Finance Manager
Maatouk Factories LLC
Total des années d'expérience :16 years, 11 Mois
• Oversee all aspects of finance & accounting department and reporting to the board
• Communicate with Regional Director on all matters related to the financial operations
• Preparing budget, and updating management on the progress with the help of dashboard
• Responsible for accurate month end KPI reporting and update of Year-To-Go forecast based on ‘Product/Market/Source’ for the Local segment of the region
• Monitoring actual & budgeted manufacturing cost to inventory consumption
• Monitor cash flows and predict future trends to ensure purchase of raw materials in peak seasons
• Make sure that financial practices are in line with all statutory legislation and regulations
MIS &MONTHLY CLOSING
• • Perform month end closing activities so that sale & purchase is recorded in accurate period.
• Reconciling intercompany sales, purchases and current account and preparing the results for consolidation
• Analyze financial and operating performance of the businesses on key variances with the budgets
• Determining intercompany transfer prices, reconciling the quantity, tracking the in transit consignments
• Preparing consignment/product wise profitability analysis by reviewing revenue and expense
INVENTORY MANAGEMENT & COST ACCOUNTING
• • Ensure proper cost tracking for raw material, labor & overheads to ensure proper product costing
• Provide weekly/monthly/quarterly and annual cost reporting to management
• Maintain material master in SAP, updating bill of material & cost estimates
• Reconcile the inventory sub-ledgers with add on ledger accounts
• Monthly inventory count and investigate for variances
ASSETS ACCOUNTING
• • Track Capital Authorization Forms, assign budget for the project, review for variances vs budget
• Ensure Assets are tie up to corresponding general ledger accounts are properly calculated, supported and reconciled
• Lead assignment of fixed assets verification, preparation and responsible of fixed asset closing process including monthly additions, retirements, transfers and depreciation calculations
• Prepare monthly analysis, review and follow up on the status of CIP (Construction in Process) projects to ensure timely capitalization of assets.
• Involved in all aspects of external and internal audit activities for assets accounting
• Quarterly review for asset impairment
ACCOUNTS FINALIZATION
• Ensure smooth monthly, quarterly and year end closing by interacting & coordinating with accounting team for timely furnishing all aspects of accounting including accruals & provisions, prepayments, payroll, depreciation & amortization etc.
• Review trial balance to analyze all aspects of monthly journal entries are recorded adequately
• Formulating tailor made financial reports for the use of management for controlling and decision making purposes
• Handling of inland, import & export LC, bank performance guarantee, discounting of LCs &PDCs
PROJECT & PRODUCT COSTING
• Maintain project-related records for each contract, review overhead charges to be applied to the project
• Investigate project variances and submit variance reports to management
ACCOUNTS RECEIVABLE& CREDIT CONTROL
• Preparing weekly receivable ageing report and sending to respective department for their follow-up with customer
• Verify discrepancies with customer by obtaining and investigating information from sales, trade promotions, customer service department
• Analyzing customers monthly, quarterly and annual sales, business units sales, sales returns, goods dispatch and rebate & credit notes and its trend for management analysis
• Reviewing customer’s ledgers, reconciliations and meetings with key customers
ACCOUNTS PAYABLE
• Verifying payables ageing, all cheques for expenses, purchase of goods or services after ensuring documents PO, DO & Invoices are duly attached and authorized for payment
• Reviewing employees’ payroll & incentive expenses allocation, petty cash voucher &, re-imbursement etc
• Reviewing Accounts Payable reconciliation and meeting with key suppliers
FIXED ASSETS
• Verifying of fixed asset acquisitions, additions and dispositions in the accounting system
• Monitoring of depreciation and written down value for all fixed assets reviewing the schedules of fixed assets and accumulated depreciation
• Conduct periodic physical inventory counts of fixed assets and inventories, recording purchase of new assets and disposal of retired assets by raising CAR (capital assets requisition form)
Preparing and presenting monthly reports to management like income statement, statement of cost of goods manufacturedon marginal & absorption basis and variance analysis& reconciliation thereof
Preparing segment wise direct material cost for the products & business
Allocating production, service and admin overheads to respective cost centers and analyzing variances and monitoring production GLs
Attending the price committee meetings with vendors & re-costing of vendor prices to choose the optimum prices for in-house or outsource manufacturing analysis
Preparing Landed cost sheet for imported parts to view the currency fluctuations
Defining inventory codes in SAP with its material group, valuation class, BOM its customers and location
Ensuring physical and system accuracy of inventory by physical stock taking
Maintain the inventory control and ensure proper recording as per approved policies and procedures