اميت Khanna

Consolidation and group reporting of ‘QE group’ (as per IFRS) consolidating virtually the entire oil and gas business of Qatar. Investments of QE comprise of investments into direct and indirect subsidiaries including special purpose vehicles, joint ventures, joint operations, associates and other investments in the stock market. Other job responsibilities include:

• Developing departmental strategy with respect to the consolidation process;
• Consolidation process automation with an aim to improve control and reduce consolidation process timings;
• Arriving at respective accounting positions that QE takes for its investments;
• Liaise with external auditors, group companies as required.

Business Solution Software: SAP

Key Achievements:
• Part of the core team tasked for first time adoption of IFRS within QE within shortest possible timeframe.
• Instrumental in developing consolidation dash board and proportionate consolidation model over and above IFRS reporting;
• Drove the department towards automation of uploading of constituents’ financial reports thereby materially reducing consolidation cycle timings;
• Spearheaded preparation of risk register of consolidation process.

Developing financial strategy, budgeting and reporting, including:

• Developing financial policies and procedures;
• TPA contract negotiation;
• Dealing with Ministry of Finance;
• Liaise with external auditor and actuary to finalize financial numbers.

Business Solution Software: Oracle Financials

Key Achievements: In spite of very short tenure, I was instrumental in:
• finalizing NHIC’s audited financials for the year 2014 that had got unusually delayed;
• contract renegotiation with TPA with an aim to control cost;
• segmental reporting with an aim of better presentation and decision making.

Consolidation and group accounting of a public companies listed on Qatar Stock Exchange (QSE) including:

• Preparation of quarterly financial statements as per IFRS meant for, inter alia, declaration with QSE
• Dealing with external auditors and/or responding to queries of Board Audit Committee for effective completion of external audit and/or investigation(s)
• Advising group companies on matters relating to financial accounting and/or taxation for consistency and accuracy of financial statements throughout the group.
• Providing support for taking dividend distribution decisions
• Preparation of tax declarations
• Develop adequate policies and procedures in order to comply with corporate governance requirements.

Business Solution Software: SAP and MS Excel

Key Achievements:
• Spearheading preparation of Purchase Price Allocation (PPA) reports for two companies (MPHC in petrochemical sector and GIS in oil and gas services sector)
• Aiding direct liasoning with Public Revenue and Tax Department (PRTD) to agree on tax refund modalities of MPHC
• Instrumental in developing financial and accounting policies for MPHC (a public company listing on QSE during Q1-2014)

Controlling financial, accounting and IT functions including:

• Monthly financial reporting of consolidated (group) financial numbers.
• Preparation of consolidated (Group) annual budget and quarterly rolling forecasts in consultation with executive management,
• Leading ERP implementation,
• Aiding pricing decisions through advanced financial modeling,
• Implement and monitor cost and budgetary controls on all expenses,
• Developing finance, accounting, payroll and HR policies and procedures eg. Policies and procedures covering A/R, A/P, fixed assets, profit centres, cost centres etc. in order to build in internal controls wherever required,
• Co-ordinating with external and internal auditors and ensuring statutory and internal audits on time,
• Laisoning with software vendor/IT service provider to ensure settlement of all software and I.T related issues in time,
• Commercial vetting of all agreements/contracts entered into by the organization,
• Responsible for filing of periodical prudential returns with Qatar Financials Centre Regulatory Authority (QFCRA),
• Participating in other strategic decisions on increasing market share and/or shareholders’ net worth for e.g. through acquisitions of other businesses.

Business Solution Software: Oracle Financials

Key Achievements:
• Driving implementation of oracle financials and successfully completing it in a short period of 4 months.
• Seamless transition from reporting financial results of a single legal entity to reporting group financial results of three legal entities belonging to three diverse jurisdictions.

As part of management team, directing financial, administration and IT functions including:

• Preparation of annual budget in consultation with senior management, conducting and monitoring of periodic meetings of executive management for discussion/approval of business plans, budgets and financial statements of the organization.
• Monthly financial reporting with segmental analysis and interpretation with constant improvement on the reporting deadlines.
• Ensure all reconciliations viz bank (Monthly), clients, insurers, debtors and other creditors regularly (Quarterly) to avoid disputes, bad debts and fraud.
• Implement and monitor cost and budgetary controls on all expenses.
• Developing finance, accounting payroll and HR policies and procedures eg. Policies and procedures covering A/R, A/P, fixed assets, profit centres, cost centres etc. in order to build in internal controls wherever required.
• Aggressively monitor credit control to achieve zero bad debt and collect all premiums due within the stipulated credit period as provided in A/R policies and procedures as approved by the management.
• Co-ordinating with external and internal auditors and ensuring statutory and internal audits on time.
• Laisoning with software vendor/IT service provider to ensure settlement of all software and I.T related issues in time.
• Recruit, train, develop, motivate, delegate, empower and monitor finance, accounts and administration staff. Make recommendations on promotions etc. as appropriate.
• Commercial vetting of all agreements/contracts entered into by the organization.
• As part of management team, actively seek business development opportunities as personal level and also provide recommendations in this respect.
• Responsible for filing of periodical returns with regulators.
• Monitoring other strategic decisions on increasing market share and/or shareholders’ net worth for e.g. through acquisitions of other businesses.

Controlling financial management functions including monitoring trade finance limits from seven banks at the same time involving negotiations for better terms. Overseeing general accounting functions, including AR/AP, account reconciliation, and cash management.

• Preparation and analytical reporting of true and fair financial statements in accordance with the group’s policy framework and accounting standards within one week of closure of each month.
• Setting up and constant monitoring of internal controls wherever desired.
• Formulation of finance plans / budgets with due consultation of the technical / marketing and sales heads.
• Constant monitoring of adherence to plans and budgets with periodic reporting of variances to management for immediate controlling actions.
• Establishment and constant review of costing procedure and formats in accordance with the requirement of group finance department and management e.g. standardization of sales products / combinations so that the corresponding cost allocation could be done.
• Responsible for providing support services to Company’s internal / statutory auditors for smooth conducting of internal and statutory audit.
• Close monitoring of Account receivables / account payables / inventory build up / cash movement to fulfill the group’s working capital policy’s objectives.

• Designed accounting system to meet the reporting requirements for Pepsi's ‘Slice’ brand.
• Pioneered in setting raw material consumption standards
• Diagrammed production periods on time scale charts to arrive at critical paths.