Chief Accountant
Autocad Construction LLC.
Total years of experience :19 years, 6 Months
•Responsible for complete Accounting cycle of the company.
•Audit for 2018, 19 & 20(WIP, POC, Fixed Assets, prepayments schedules etc.).
•Oversee all accounts, ledgers, LPOs, Supplier and subcontractors’ invoices, payment applications/certificates and office rental and insurance matters ensuring compliance with set controls and policies.
•Preparation of internal monthly management accounts & projects’ cash forecast and allocation of funds as per requirement.
•Negotiation with Banks for credit facilities and managing BGs, LCs, STL etc.
•Responsible for payroll verification and payments.
•Supervision of VAT recording and payment to FTA before due date.
•Draft the SOPs for Accounts, their implementation and working for update.
•Handling suppliers and sub-contractors' invoices & payment certificates.
•Responsible for GL, payable, receivable, cost report, WIP, Revenue, monthly closing and preparation of MIS report.
•Monthly closing after all accruals, depreciations, prepayment adjustments, WIP and revenue recognition.
•Responsible for Bank guarantees(advance & performance) processing, amendments and cancellation.
•Preparation of payroll, cash forecast, variance and fixed asset schedule.
•Handled VAT, intercompany transactions and reconciliations etc.
•Liaised with QC, Commercial dept., Store and internal auditor for different documents and related matters.
• Handled Al-Nakheel projects for Deira Mall, Boulevard I, II and RIU hotel.
• Responsible for projects’ cost report, WIP, POC based revenue, Bank Guarantees, payment applications and payment certificates.
• Preparation of project wise monthly cash flow and meeting with management for monthly financial plans.
• Presentation of monthly CF analysis report to the management for the variance between budgeted & actual.
• Analysis of statements of financial performance and financial position for fluctuations.
• Monthly and yearly closing, accruals and preparation of audit schedules for the Audit of the financial year.
• Managed fixed deposits based on performance Guarantees to clients and other idle funds.
• Responsible for payroll, accounts payable, receivable and L/Cs.
• Responsible for VAT from registration of the company till VAT return to FTA.
• Reviewing TB monthly, ensuring proper allocation of cost/expenses in to proper heads.
• Sharing monthly project cost report to each PM for their review and comments.
• Monitored the day-to-day cash needs for the company to ensure adequate liquidity.
• Monitored and ensured all Accounting, HR and Admin procedures & works are in compliance with IAS, IFRS, UAE law and company policies. Manipulated SOPs for ISO certification.
• Participated in the development of the Finance strategy for the company, ensuring that the strategy is in line with the Group’s overall strategic direction.
• Monitored overseas transactions and reconciliation.
• Worked as liaison with Banks for BGs, Facilities, discounting, funds transfer and term deposits etc.
• Meetings with management, PMs, Bank Relationship Managers, Suppliers, subcontractors and Auditors.
• Supervision and on-job training of Accounts team for Accounts, Quick Books and VAT etc.
• Weekly Project, Funds and inter company reports to HO.
Sister companies are: Al Falak Trading, Logistic Maintenance and Al Falak Real Estate.
Reporting to Finance Manager
Key Result Areas:
• Spearheading Accounts, Administration & HR Department functions.
• Verification of invoices as per cost codes and preparation of cost report for all ongoing projects.
• Supervision of invoice generation, submission, collection and resolving conflict, if any.
• Managing bank guarantees (tender, advance, performance & retention bonds) and inward/outward L/Cs.
•Finalization of accounts on monthly basis, inter company reconciliation, MIS submission to management.
•Preparing:
o Cash flow and evaluating variances report on monthly basis to meet short term and long term requirements
o SOPs and policies for accounts, Admin and HR departments
o Chart of accounts & sub accounts for all categories in projects (cost centers) to get required reports for management
•Monitoring:
o Reconciliations, provisions, accruals, adjustments and audit schedules.
o Cost sheet, LPOs, inbound and outbound invoices, verification for approval.
o Payments to suppliers and subcontractors after review invoices in line with PO and contractual terms.
o HR matters for payroll, leave salary, final settlements, recruitment, interviews, renewal, cancellation, staff appraisals and laborer's control & productivity.
•Overseeing:
o Admin department for office, transport and labor accommodation related matters.
o Insurance for employees, vehicles and projects etc.
o Properties department for receivable and contractual matters.
• Responsible for project profit and revenue recognition by percentage of completion method (POC).
• Banks for credit facilities, TR, funds transfers, bill of exchange and other bank related matters.
• Liaison with FGB for national housing loan scheme, documents submission, guarantees, transfers and other requirements.
Highlight:
• Successfully transformed old Accounting System to Quick Books with new chart of Accounts having new trial balance mapping and zero opening balance equity.
Joined as Finance Executive and later promoted to Senior Finance Executive. Reported to Deputy Manager - Corporate Finance
KEY RESULT AREAS:
as SENIOR FINANCE EXECUTIVE:
•Supervised Finance Executive, Accounts Officer, Cashier and Procurement Officer; used Financial Oracle R12 (AP, AR, OM and SSHR modules).
•Handled validation and payment of:
o All Cash, bank and supplier vouchers and bills in the system
o Salaries to employees and consultants
•Created accruals on month end and adjustments; arranged advances for local and foreign travel and their adjustments.
•Reported sales journal, aging/receivable reports to the deputy GM; Managed earnest money, bank guarantees and L/Cs
•Preparation of yearly budget and analysis of budget variance report on monthly basis
•Reconciled sales journal with BVR (Budget Variance Report)
•Verified:
o Invoices/bills given by vendors/employees and travel claims
o Bank, cash and inventory reconciliations on monthly basis
o Tax deduction and returns; extended support to Deputy Manager Finance for all finance activities
• Prepared work objectives and job descriptions for sub-ordinates; conducted their appraisal
as FINANCE EXECUTIVE:
• Posting of all Cash, bank and supplier vouchers and bills in the system
• Coding all vouchers as per chart of accounts.
• Compute taxes, make deductions from suppliers/subcontractors/employees and e-submission on timely basis.
• Cash, bank and inventory reconciliation; Funds transfer from head office to bank and office for petty cash.
• Bank responsibilities for funds transfer, petty cash, salaries, statements, pay orders and bank guarantees etc.
• Responsible for day to day accounting work, vouchers preparation, posting and cheque preparation.
• Handling petty cash and daily cash report; used peach tree as accounting software
• Managing employ advances, IOUs, end of service submission, salary transfers and payments & receipts posting.
• Issuance of statement of account (SOA) to suppliers/subcontractors and reconciliation of customers' SOA.
MSc economics and finance from international Islamic university Islamabad