Finance Manager
Food Concepts LLC (Elevation Burger)
Total years of experience :16 years, 7 Months
Manage and control all financial activities, responsible for providing financial advice and support to directors & colleagues to enable them to make sound business decision. To optimize business operations through information analysis by current process, actual performance vs budget and prior year budget. Prepare, review and update budgets, forecasts and issuing variance reports to guide management decisions.
- Monthly profit & loss of each restaurant separate and consolidate it all
- Preparation of projected cash inflow & cash outflow statement in respect of operating, financing & investing activities
- Calculate food cost of the items sold on monthly bases and comparison of all restaurant cost of sales to compare performance
- Calculate break even point for each restaurant separate to check at what level of sales we can compete with our fix cost.
- Calculate the gross margin item wise and set promotions upon the items which sales is getting low to boost up revenue.
- Monthly Operations Review, identification of areas for cost reductions and operational improvements, annual budget process, periodic forecasting, and periodic analysis of operations performance.
- Partner with Product Management and Purchasing Team in determining financial impact due to product cost reductions, new product roll out, etc. and prepare periodic forecasts to update management on projected results.
- Analyze financial performance against key business metrics and document pertinent financial highlights that will enable management to determine progress against budgets.
- Identify, investigate, and analyze potential operational improvement. As appropriate, based on findings make proposal for operational changes (policy, procedures, processes, etc.)
- Monthly Profit & Loss Account and Balance Sheet along with variance analysis report upon actual vs budgeted activities which directly reporting to directors and partners of the business
- Reconciliation of all bank accounts, suppliers’ ledger with their statement of accounts and preparation of tracking sheets. Monthly journal entries and balance sheet reconciliations
- Preparation of projected financial statements on historical bases & Preparation of monthly budgets of the company, cash budget, performing financial analysis including ageing and financial statement.
- Tracking of all ERP modules e.g. Accounts payable, fixed assets, prepayments, etc. and reconcile all that modules with ERP GL module.
- Monitor stock level, slow moving item, provision creation for over aged inventory, stock tacking and inventory reconciliation
- Fixed assets management, tracking of all new assets and depreciation of all fixed assets
- Handle full range of financial and cost accounting role eg. AR, AP, GL, forecasting, budgeting etc
- Job order costing & project management, ensure material, labor and overhead have been correctly charged to relevant project before each project get closed
- Calculation of Landed cost, product margin and profit calculation.
- Calculation cost of each project and return on project.
- Maintaining payroll including employee benefits of about 200 employees
- Any other duty assigned by the management
Worked on a senior accounting position to direct accounting function for growing manufacturing cum services industry. Supervise accounts team, financial audit, G/L, A/R, A/P and fixed assets. Develop and manage external financial relationships (e.g., banks, insurers, auditors) and constantly look for ways to strengthen overall financial performance.
- Accounts finalization and preparation of Financial Statements of the Company on monthly, quarterly, semi-annually & annually.
- Managing & maintaining day to day accounting activities and finance function in multi currencies.
- Reviewing credit terms and monitor credit control system. Minimize financial risk through timely process of accounts receivable & accounts payable.
- Preparation of monthly budgets and provides periodic feedback to the operations department on variance against the set budget.
- Preparation of forced payment schedule along with PDC (Post Dated Cheque) paid & received schedule.
- Job order costing and calculation profit and loss on each job.
- Internal audit of the accounts & facilitate to external auditors to conduct annual audit and present the audited financial statements to the concern authorities in time.
- Perform vouching to verify and for ensuring all the transactions are duly authorized, approved and supported with documentary evidence.
- Monitor, manage, plan and control inflow and outflow of money supply. Monitor payment & receipts in bank and ensure their proper recording.
- Ensure that all the invoice, bank entries, depreciation, prepayments, accruals, reversals and adjusting entries are properly booked and finalized.
- Reconciliation of banks’ accounts, suppliers’ accounts & clients’ accounts and other balance sheet items.
- Supervise the stock taking of store on last day of every month, preparation of stock taking report and reconcile with G/L module in ERP.
- MIS reports at ad hoc bases and to improve the operation.
- Predict the possible trend of the company and preparation of the projected statement of the accounts.
- Preparation of the monthly payroll of about 200 employees (including gratuity, leave salary, salary reserve, annual air tickets) while following WPS (Wages Protection System).
- Corresponding with supplier, clients, banks and other institutions.
- Audit finalization and preparation of the Financial Statements of the companies.
- Internal & external audits of the business concerns and finalize audit queries.
- Developing COA (Chart of Accounts) and accounting systems for the newly incorporated client companies.
- Manage internal accounts of the firm on accounting software
- Preparation of the financial spreads for the banks
- Submission of Corporate forms, Income tax & Sales Tax returns to the concern collector authorities.
- Electronic filing and reply the tax notices
Special Assignments:
M/s Saramco Limited: Developed accounting system for M/s Saramco Limited and its associate companies along with its running projects and run its accounts department independent for about five months. Prepared project wise P&L statement and consolidate all projects statements of account to ascertain the profit/loss of the single company.
M/s Maaksons (Pvt) Limited: Reconciliation sites vendors/suppliers. Preparation of phase wise liability of vendors and consolidate all phases liability. Developed a comprehensive accounting system for imprest cash, IOU and direct payments to vendors/suppliers from site. Conducted monthly stock taking of all store & spare and internal audit of store consumption.
M/s KH Rubber Industries (Pvt) Limited: Conduct a comprehensive internal audit for the last three years to comply with taxation, accounting procedure and corporate requirements. Supplemented functions including understanding, documentation, testing & assessment of internal control over the system. Pointing weaken areas of the system and suggesting thereon. Review new operational system and prepare financial statements to ascertain the financial position & performance of the company.
Audit Internee (Audit & Accounts)
October 01, 2007 to September 30, 2008
- Verifying vouchers (payment, receipts & journal) and checking supporting documents of all type of vouchers.
- Verifying staff advances, payroll sheet, provident fund, workers provident funds & employee’s withholding tax on salaries.
- Computation of current maturity of working of leased assets
- Assist seniors while audit finalization
- Stock taking of the client’s companies
- Maintain books of the accounts of the company and client companies
- Internal & external audit of the accounts of different business concerns
learnt the core function of the banking, interbank transaction, and documentation of import & export.
CMA Partially Qualified
Major in Finance & Accounts
Major in Accounts
Major Subjects: Math, State & Economics