Finance Controller (head of Finance and Accounts)
Imperio International Limited, Lagos, Nigeria
Total years of experience :21 years, 9 Months
The company manufactures and sells locally various cosmetics products such as Petroleum Jelly, Hair Jelly, Body splash / Mist, Perfumes, Face creams, Body creams, Body Lotions, Luxury Perfumes, Sanitizers (Gel and liquid both), Bath Soaps etc and also produces for Johnson & Johnsons, Unilever and seven-up etc.
Tenure: March 2021 to present
Position: Finance Controller (head of Finance and Accounts)
Various departmental budgets with respective team and then master budget preparation, comparison, variance, analysis to pin point the factor responsible for increase in costing and suggest the management to reduce such costs to achieve profit and sales targets with similar quality.
Prepare monthly projections of Cash Flow to meet out cash requirements and avoid any possible overtrading situations, so that the financial goodwill is maintained with suppliers and financers.
Preparation of quarterly financial statements (internal, with limited IFRS / IAS compliance) to evaluate company performance and other performance aspects per department and suggest management the way forward.
Prepare annual financial statements (public / statutory, with full IFRS / IAS compliance) and assist with company auditors to get AFS, tax computations and annual return filings and avail TCC.
Prepare import costing, verify duty assessment prepared by CHA, verify and keep track of container deposit (if any) for collections, check for demurrages (if any) and analyze the reasons for such demurrages to avoid in future (in order reducing landed cost).
Prepare product cost sheet for internal decision making by the management.
Verify weekly debtors ageing to monitor timely collection and suppliers ageing to make timely payment to retain supplier as well as keep negotiated prices under control as much as possible.
Prepare all statutory compliances under local laws such as PAYE / Pension / NSITF / WHT / VAT etc.
Verification of LC / Form M and other import related documents as and when required.
The company is trading in various products such as paper and board, iron and steel, commodities etc. and having other divisions for park development and civil constructions, electrical assembly, CCTV installation etc. The major customers of the company are Reliance Jio Limited, L & T etc.
Tenure: December 2016 to March 2021
Position: Finance Controller (head of Finance and Accounts)
Prepare monthly projections of Cash Flow.
Preparation of monthly and annual financial statements and coordination with statutory auditors.
Prepare project cost sheet for internal decision making by the management.
Verify weekly debtors and suppliers ageing.
Prepare all statutory compliances under local laws such as ESIC / EPF / GST / IT / TDS etc.
The company is trading in various Agro commodity products such as Maize, Soya Beans etc. and having many subsidiaries in the country which produces Maize meal (FVG Milling Limited), Soya meal and CSB (Quality Commodities Limited), Tin Packed Food such as tomato catch-up / paste / puree, baked beans, tinned vegetables etc. The major customers of the company are World Food Program (the UN Organisation) etc.
Tenure: June 2012 to November 2016
Position: Finance Controller (head of Finance and Accounts)
Joined the company as Finance manager and was promoted to Finance Controller in Nov 2014, with a pay raise of almost double in 2.5 years from joining.
Prepare monthly budgets and projections of Cash Flow.
Preparation of monthly and annual financial statements and coordination with statutory auditors.
Prepare product cost sheet for internal decision making by the management.
Verify weekly debtors and suppliers ageing.
Prepare all statutory compliances under local laws such as NAPSA / WHT / VAT / CIT / PAYE etc.
First time prepared the throughput reconciliation (Input v/s Output) and found a net production Loss of about 10% on Input quantities then actively took part in controlling this and achieved to minimize it to 0.27%, which result an increase of about 7% to 8% in Gross Profit.
With time to time discussion with production, maintenance and engineering teams suggested a few ways to increase the production capacity of the plant from 60 TPD to 110 TPD with “no major upgrade of plant” and also to reduce on breakdown time to achieve maximum product output.
At the same time some suggestions were to reduce on by products and increase the main products, which was a remarkable success, such as reduction in Sludge of Soya oil (Negative Value Product) to increase in Full Fat Soya Cake (main product value of about US$650 per ton), Screening, sweepings and Cobs of Maize (realizable value of used PP Bags only) to cattle feed (realizable value US$ 125 per ton). In both the cases the cost of CAPEX realization was less than a month.
The company is a franchise of DB Schenker and is acting as CHA. The major customers of the company are Jamana Printers, Berger Paints etc.
Tenure: November 2010 to May 2012
Position: Finance Manager (head of Finance and Accounts)
Prepare monthly projections of Cash Flow.
Preparation of annual financial statements and coordination with statutory auditors.
Verify weekly debtors and suppliers ageing including global Schenker offices.
Prepare all statutory compliances under local laws such as NSSF / VAT / CIT / PAYE / SDL etc.
Prepared Chart of accounts and installed new accounting software “Tally” with TDLs for Tanzania VAT. Also developed a system to establish cost and profit per BL / shipment / file.
Keeping track of various shipping line / terminal & other payments for recovery from clients.
The company is trading in metal scrap and procure annually 200, 000 containers per year. It is also one of the best in treating employees as their best assets. The major customers of the company are large steel furnaces of India, Sri Lanka and other Asian countries.
Tenure: July 2008 to October 2010
Position: Assistant Finance Manager
Prepare monthly projections of Cash Flow.
Preparation of monthly and annual financial statements and coordination with auditors.
Verify weekly debtors and suppliers ageing.
Prepare statutory compliances under local laws such as VAT / PAYE / CIT etc.
The company is a group of Sugar Mills and produces main products as Sugar with a refinery to produce Ethanol and a power generation unit of 20MW out of which 50%+ is sold to the government (power board) for domestic supply. The major customers of the company are Haldiram and Govt. Sugar agencies in India and about 90% sugar is exported from this plant.
Tenure: April 2007 to July 2008
Position: Accounts Officer
Gained knowledge of SAP (FI & CO Modules)
Preparation of monthly payroll and employees payables as per their entitlements.
Accounting of export, which is 90% of the revenue of the factory.
Dealing with banks majorly for LCs (Inland / overseas; incoming LCs and out bond LCs; Bank Guarantees; discounting of foreign LCs received from Foreign Customers etc.
Preparation of quarterly and annual financial statements and coordination with Deloitte auditors.
Successfully compiled data and got Govt. grant on Export Freight Subsidy sanctioned by Central Govt. of India during 2007/08 and was on top of getting grants among 16 private sector sugar mills. It involved dealing with Sugar Directorate, Ministry of Food and Pubic Distribution, Ministry of Consumer Affairs of India
Successfully compiled data for another Govt. grant under UP Sugar Industry Promotion Policy of 2004, which involved dealings with Society Secretaries, DCO, DM, ASC, DEO, STO etc and final submission to Cane Commissioner’s Office at Lucknow.
The company is manufacturer of quality note books. The major customers of the company are CCS University Bundelkhand University, Dewan Public School, Translem School etc.
Tenure: July 2002 to March 2007
Position: Senior Accountant
Prepare monthly Budgets and projections of Cash Flow.
Preparation of annual financial statements and coordination with statutory auditors.
Prepare product cost sheet for internal decision making by the management.
Verify weekly debtors and suppliers ageing.
Prepare all statutory compliances under local laws such as ESIC / EPF / Sales Tax / IT / TDS etc.
Pursuing
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