Financial Analyst
Khafji Joint Operations- Oil Support Services
مجموع سنوات الخبرة :33 years, 11 أشهر
Al Khafji Joint Operations Petroleum Production, Kingdom of Saudi Arabia - Joint Venture between Aramco Gulf Operations Company & Kuwait Gulf Oil Company (Oil Exploration & Production)
•Processes the statistical key figures received from various departments into the SAP system for the monthly cost allocation.
•Processes various schedules needed for the monthly closing of books including crude oil inventories & diesel oil consumption including parking of journal entries.
•Analyzes all monthly accruals of expenditures entered in the general ledger by the FAD/Operations Accounting including expenses on the mobilization and demobilization of rigs and boats.
•Coordinates the controlling and reporting process within the department for the month-end closing of books making sure that all divisional SAP closing procedures are followed.
•Settles and runs the SAP assessment cycles needed for the closing of books in SAP system.
•Processes and parks final closing journal entries concerning the unit cost of production and the total cost of sales to close the books on a monthly basis.
•Analyzes major variances of all general ledger accounts concerning the monthly actual posting of expenditures in SAP including foreign exchanges differences.
•Processes the monthly activity report for the department for submission to executive management.
•Reconciles all related party transactions accounts on a monthly basis in order to advice the two companies (AGOC & KGOC) for their quarterly payment.
•Coordinates with Terminal & Marine Department to make sure that all Crude Oil and Diesel Oil Inventory transactions are correct and final in the system which are being submitted to both Governments (Saudi & Kuwait).
•Coordinates with joint external auditors and company’s internal auditors regarding the interim, year-end and periodic audit activities.
•Prepares and finalizes various financial statements and the notes to the financial statements in close coordination with the company’s joint external auditors.
•Prepares and finalizes variance analysis of the financial statements in close coordination with the company’s joint external auditors.
•Generates the monthly financial reports for distribution to two partners (AGOC & KGOC).
•Assists the Department’s Manager and Division Heads for special projects as the need arises.
Analyzes and prepares general ledger accounts reconciliation with the subsidiary ledgers.
•Processes accounts receivable and accounts payable of the company.
•Processes all cheque payments of the company every 15 days.
•Periodically make calls to customer if the outstanding accounts receivable are over 30 days past due to remind payments.
•Reconciles the loan accounts and various job costing schedules with GL balances.
•Reconciles inter-company accounts on a monthly basis.
•Prepares the weekly loan accounts and deals in process for management reporting.
•Processes sales reports from the on-going deals/auctions/liquidations and reconciles government remittances especially sales taxes.
•Assists the CFO and Controller for special projects as the need arises.
Analyzes and prepares bank reconciliation and adjusting journal entries to reconcile the actual bank balances with the cash account in the general ledger.
•Analyzes and prepares general ledger accounts reconciliation with the subsidiary ledgers and various schedules including inter-company accounts.
•Analyzes and prepares adjustments to supplies, postage and reminder inventories and allocates to different dept/call centers of the company.
•Analyzes and prepares monthly accruals of all major expenses especially telephone expenses, future events expenses, group insurance, computer expenses, etc.
•Analyses and prepares monthly accrual of revenues allocated to different call centers.
•Analyzes and prepares company remittances for US sales & amusement taxes and reconciles government remittances for all payroll deductions with the general ledger.
•Prepares weekly cash flow report covering the next 8 weeks operations of the company.
•Thorough analysis of the work-in-process (WIP) account on a monthly basis.
•Thorough analysis of the major financial statements accounts with large variances on a monthly, quarterly and yearly basis in comparison to the approved budget.
•Approves check vouchers for all vendor payments made by the company.
•Team member in the preparation and finalization of the financial statements including the Notes to Financial Statements and Management & Discussion Analysis for release.
•Prepares and finalizes the annual budget forecasts of the company for the US Division.
Analyzes and prepares bank reconciliation to reconcile the actual bank balances with the cash account in the general ledger.
•Analyzes and prepares general ledger accounts reconciliation with the subsidiary ledgers and various schedules including inter-company accounts.
•Analyzes and prepares adjustments to the inventory and allocates to different projects/jobs of the company.
•Analyzes and prepares company remittances for US sales and withholding taxes.
•Updates daily the cash flow schedules showing payments & receipts of the company.
•Reconciles government remittances for the GST and payroll deductions (CPP, UIC, ETD and EHT) with the General Ledger.
•Analysis of the financial statements on a monthly, quarterly and yearly basis.
•Assists in the preparation of company’s annual corporate budgets & forecasts.
•Assists the Controller for special projects and checks the work of A/P, A/R and Payroll clerks.
Prepares manpower and expenditure budgets of the department based on the approved guidelines issued by the Executive Management.
•Analyzes and prepares manpower and expenditure variance analysis based on the actual general ledger report against budget for management purposes on a monthly and quarterly basis.
•Analyzes and consolidates annual operating and five-year business plans’ financial reports submitted by business lines into one company financial report.
•Analyzes and consolidates periodic accountability reports (quarterly, semi-annually & annually) submitted by business lines into one company financial report.
•Calculates the company’s forecasted statement of operations for the quarterly, annually and five year business plans as per reports submitted.
•Guides and assists other departments in the formulation of their organizational mission, objectives, goals, performance measurements and financial forecasts.
Analyzes and prepares bank reconciliation and adjusting journal entries to reconcile the actual bank balances with the cash account in the general ledger.
•Reviews and checks the accuracy and validity of all purchases made by the company against purchase orders.
•Prepares monthly journal entries for all invoices received and vouchers for all payments and reconciles monthly all vendors’ subsidiary ledgers with the total company accounts payable ledger for the monthly financial report of the company.
Reconciles all tellers’ transactions during the day.
•Checks all withdrawal slips for the authenticity of signatures of clients.
•Process all checks deposited during the day for the clearing to Central Bank.
•Reconciles daily the actual cash-in-bank of the branch.
•Prepares all accounting journal / ticket for posting to the general ledger.
•Reconciles daily the total bank deposits against the subsidiary ledger reports.
courses: Qualified for US CPA Examination, State of Illinois, USA Certified Public Accountant (C. P. A.)
Accounting background.