Assistant Finance Manager
Al Futtaim Group
Total des années d'expérience :13 years, 10 Mois
Key responsibilities-
Controlling and coordinating all the finance functions
Provide detailed analysis and explanation on cost center results&
Analyzing financial and operational results to better understand company performance
Identifying area for process improvements and working with the team to bring efficiency in process.
MIS Reporting
Automation of Processes for improvements and efficiency
Variance analysis, Budget vs Actual, Divisional profitability analysis etc.
Revenue recognition and review
Audit schedules review and analysis
Revenue recognition
Providing effective and timely operational and financial reports.
Monitoring collection functions and bad debts, improve average collection days.
Managing Accounts receivable, Payables and credit control functions
Segregating duties and setting KPI of the finance dept, aligning with organizational goals
Forecasting and tracking the business performance against current plans.
Month closing - Review and reporting
Reviewing month-end close checklist, identify challenges take corrective actions/Process improvements
General Ledger and Business Reporting-
Ensures accuracy and timely posting of accounting entries, closing of books, reporting to Group Finance. Analyze Profit & Loss Account and Balance sheet items prior to monthly period closing.
Review monthly GL schedules and supporting to financial statements & highlighting issues to Business Finance.
Coordinates with Business finance teams on preparation of Annual Budgets
Support Business Finance Team in preparation of monthly management & Board reports.
Communicates correspondence and discuss regular controlling topics with the Strategic Business Unit.
Working closely with PWC and Internal Auditors for timely completion of company audits. Ensure that the monthly and quarterly reporting is timely, relevant, value adding and accurate. Representing & Attending Group level and business level meetings.
Project Accounting -
Provide Project Accounting support to one or more business sectors across the Middle East region. Review and upload of Project Budgets, controlling cost bookings.
Project Budget release in SAP after verifying signed contract, cost sheet and all other relevant documents. Ensure compliance with Group Finance Manual and use of best project accounting practices.
Managing timely booking of Project Revenue as per IFRS 15 & Customer billing cycle’s system, SAP Result Analysis and settlement of completed projects before each month end.
Monitoring Work In progress & Cost reserve and take necessary action to keep at acceptable levels. Preparation of periodical reports and reconciliations to be submitted to the business and / or Group. Various MIS reports as per reporting matrix of various SBUs.
Work closely with Business Finance to prepare project budgets, forecasts, and monthly Sector accounts particular, relating to; project expenses, billing, contra charges, deductions, debt, provisions and utilization.
VAT Implementation and Compliance -
Attended Various Tax workshops and training sessions on UAE VAT. Assist Tax Manager,
reporting and tax, in the reconciliation Organize and update the tax database and
generating exceptional reports
Maintenance and Control over Financial Ledgers of Ware housing and Freight forwarding Divisions.
Monthly closing of Books of Accounts and supporting GL reconciliations.
Finalization of Oracle Financial Statements - Profit and Loss Account, Balance Sheet and Cash Flows.
Assist Finance Manager in preparation of Budgets and forecasts for business entity.
Monitor and analyses monthly operating results versus budget and latest estimates.
Cash flow protections, working capital management and Treasury supervisions.
Banking Relations - Arrange Credit line and other banking Facilities.
Checks accuracy of financial tracking systems by testing, maintaining, and evaluating financial information in the systems.
Establish, maintain, and coordinate the implementation of accounting and accounting control procedures.
Internal controls implementation
Reconciling supplier and intercompany accounts.
Accounts Receivable and Cash Payment Management.
Recording of Assets and depreciation workings.
Preparation of Bank Reconciliation statement.
Monthly allocation of corporate common charges to respective divisions.
Participating in continuous improvement of the internal efficiency of the department.
Co-ordination with EY to carry out annual audit.
Financial and division wise analysis and corporate reporting.
Month-end general ledger closing and supporting reconciliations.
Debtor Age-wise analysis and coordination of receivables internal follow up.
Audit planning, organizing schedules and liaising with Auditors.
Process Intercompany reconciliation of accounts.
Preparation of Reports submitted to Banks and other financial institutions.
Estimating and recording of Provision, Accruals and Amortizations.
Cost Budgeting, Cost controls and estimation.
Calculating landed cost of imports and recording inventory.
Checking stock levels and Managing sales order co-ordination.
Reporting on periodic variances and their causes.
Accumulating and applying overhead costs.
Performing Monthly Inventory Valuation.
Review of Slow and Non- moving items and reporting the same to the Higher-level management.
Preparing payroll and keeping records of staff advances and loans.
Review of Inventory reports by division, warehouse and product type
Preparing financial statements and audit reports of companies in different industries.
Scrutinizing accounting records and procedures and reporting irregularities.
Checking and validating documents and vouchers.
Checking and validating Ledger postings and JVs, verifying supporting