Accounting Manager
Edinburgh International
Total years of experience :16 years, 4 Months
Accounts Finalization
• Monitoring and analyzing monthly, quarterly and year end closings and ensuring that financial and variance reports are reviewed and presented to the management timely.
• Evaluating quarterly reconciliations of balance sheet accounts to ensure accuracy and compliance with established accounting standards and procedures of the organization.
• Keeping complete, accurate and systematic set of records for all accounting transactions personnel accounts pertaining to all branches of the company.
• Formulating tailor made financial reports for the use of management for controlling and decision making purposes ensuring that reports are presented timely.
• Assist and support audit team in evaluating and assessing the accounting systems
Regular review of Payables, Receivables and Inventory aging reports to keep working capital cycle in check
Taxation
• Overseeing the preparation, completion, review and submission of income tax, VAT (and equivalent) and Withholding tax returns within the filing deadlines and in compliance with the local tax law;
• Coordination with Regional Finance teams to develop efficient corporate income tax processes ensuring compliance with local laws and accounting standards
• Managing tax audits and coordinating appeals ensuring all data is compiled to support tax positions taken
• Preparation and update of tax positions, advising on tax provisions and related accounting matters (including tax forecasting & budgeting)
• International tax structuring and planning (when applicable)
• Advising on cross border transactions and related double tax treaties
• Researching and drafting various tax technical positions for the group’s Senior Management team, Shareholders and external auditors
• Determining the tax compliance implications and strategic considerations associated with various business initiatives/proposals
Fixed Assets
• Recording of fixed asset acquisitions, additions and dispositions in the accounting system
• Calculation of depreciation and written down value for all fixed assets; Review and update the schedule of fixed assets and accumulated depreciation.
• Conduct periodic physical inventory counts of fixed assets and inventories. Conduct analysis related to fixed assets as requested by management
• Prepare audit schedules and resolve audit issues identified by external auditors, prepare depreciation and other fixed asset-related entry adjustments
Accounts Receivable / Payables
• Analyzing customers monthly, quarterly and annual sales, business units sales, sales returns, goods dispatch and rebate & credit notes and its trend for management analysis
• Customer’s ledgers reconciliations and meetings with key accounts customers.
• Reporting to management on bank position, payables ageing
• Verifying cheques for expenses, purchase of goods or services after ensuring documents LPO, DO & Invoices are duly attached and authorized for payment
• Preparing employees payroll and allocating to appropriate heads.
• Preparing reconciliation of Supplier Accounts with Accounts Payable & bank reconciliation
• Maintained General Ledger, Trial Balance and Period end closing adjusting entries.
• Prepare monthly analysis of cost of goods sold and operational expenses
• Look after all tax matters.
• Valuation of monthly stock
• Prepare periodic forecasts to update management on projected results
• Evaluate financial reporting systems, accounting, collection procedures, and investment activities, and make recommendations for changes to procedures, operating systems, budgets, and other financial control functions
• System development for effective operations.
• Developed an accounting & store system.
• Identify, investigate, and analyze potential operational improvement.
• Establish procedures for custody and control of assets& records, in order to ensure safekeeping and minimizing risk.
• Prepares budgets and monitor to all firm activities. Evaluate, edit, analysis and action plan.
• Implementing Budget control processes
• Follow-up Budget issues/requests with various parties.
• Monitored payables and receivables
• Prepare bank reconciliation statements before finalizing monthly trial balance.
• To supervise the monthly operations updating of P&L, Balance Sheet and Cash-flow by ensuring the analysis of the various accounting documents,
• Liaison with banks and handling relevant banking matters.
• Looking after all matters of foreign ventures.
• Preparation and submission of different reports
• Plan, direct, and coordinate the activities of manager and workers in departments
• Costing of Store Purchase items
• Assist in developing processes to ensure all expenses are tracked through the PR process and the exceptions considered through processes designed outside the normal routing
• Assist PR Requestors with the right codes for transaction postings
• Preparation of Bank payment vouchers & Cash payment vouchers
• Dealing in Withholding tax matters (Preparation and depositing of Withholding tax Return)
• Payment of freight charges of Store purchases
• Assist in the creation of new account code combinations in Oracle financials.
• Working in Oracle Based ERP & Oracle Financial online data base system
• Preparation of cost center and annual budget
• Implementing Budgets/Forecasts/Business Plans process all throughout the year:
• Gathering appropriate information to input in Budget model
• Conduct proper analysis for coherence of Budget figures
• Update Budget model when needed,
• Assist in conducting budget transfers for those items requiring budgets from other sources.
• Develop weekly report & other ad hoc report that monitors the budget against postings arising from encumbrances and actual GL postings.
• Implementing Budget control procedures & rarising "red flags” in case of abnormal variance indicators.
• E-filing of Sales Tax Return and coordination with tax authorities for tax issues & its reconciliation
• Report and analyze gaps between actual and budget
• Co-ordinate in cost audit and prepare all cost audit annexure
• Constantly review the PR and Budgeting process with the objective of bringing additional value to the established procedures and processes.
• Liaise with departmental authorities and obtain details of budget lines for PR approvals. Ensure all items are budgeted for and exceptions are kept to minimal
• Looking after complete accounting matter of Farms Division.
• Financial statements of Farms Division.
• Valuation of monthly stock
• Preparation and submission of different reports