Chief Accountant
Traks FZE
Total years of experience :7 years, 2 Months
Financial Accounting:
•Handle end-to-end activities related to the company’s financial accounting function, with focus on timely and accurate generation of monthly, half-yearly and annual financial statements, in compliance with IFRS guidelines.
•Supervise over the general ledger aspect, with additional accountability to regulate operations of accounts receivable, accounts payable, inventory and payroll processes.
•Administer necessary control over treasury department operations, establish highly effective frameworks to monitor and enhance performance levels.
•Collaborate with senior leadership team members for the formulation and implementation of organizational policies, operational guidelines and reference reckoners.
•Conduct thorough review of financial contracts with several third parties, assess their impact on financial statements and ensure that the terms and conditions agreed upon are in alignment with the company’s interests.
•Administered control over monthly payroll activities involving employee salary preparation, incentive calculations, NI calculations and applicable taxes.
Forensic Accounting and Auditing:
•Perform the Bank Reconciliations and other forensic audit tools to identify the suspected fraud in the Cash and inventory and perform detailed internal audit of expenses and income.
•Drive research projects for tracing and identification of all assets owned by the company and extract data for forensic reconciliations.
•Conduct forensic review of liquid assets within the company’s books of accounts, uncover information through virtual interviews and verify information received.
•Schedule and conduct audit of company accounts, review financial reports, identify non-compliance with standard industry practices and recommend necessary corrective measures.
•Test the correctness and reliability of financial control systems, ledger accounts, asset classifications, etc., and report findings to the senior management.
Cash Flow Administration:
•Deliver timely forecasts of cash flow situation within the company, identify borrowing requirements and source funds for the purpose of investments, project financing etc.
•Estimate the company’s operational expenditure along with variances involved and reserve sufficient funds to meet OPEX as well as CAPEX requirements.
•Deploy hedging strategies in order to mitigate financial risks associated with interest rates, foreign exchange rates and other ad-hoc market scenarios.
•Fortify relationships with banks, re-structure the company’s financial frameworks, assist in equity / debt financing and maintain desired debt equity ratio.
•Maintained effective coordination with various departments and business units including sales, accounts payables, inventory, payroll, fixed assets section, etc.
Operating Activities:
•Managed Vendors and make payments to vendors after approval of competent authority (Company’s Director).
•Prepared bank, credit cards & cash reconciliation. Manage fixed assets.
•Reimbursement of expenses. Analysis of petty cash expenses.
•Maintain inter-company transactions and prepare reconciliation statements thereof.
•Prepare detailed reports on monthly basis for Users visited the website, Sales orders placed, inventory available, direct order placed to foreign supplier, Items received and delivered.
•Prepare the reports for detailed tracking of online payments from foreign GCC customers paying in their local currency.
•Ensure that all accounting adjustments, such as prepaid expenses, advances, provisions, etc. are recorded timely and accurately, so that financial statements accurately reflect the true financial health of the company.
•Ensure that reports / schedules for statutory and / or internal audits are prepared and provided to the auditors as and when required.
•Seek continuous improvement in the existing processes and suggest improvements which will improve efficiency and effectiveness.
•Analyze monthly reports for the Financial Management Report pack and ad-hoc management reports as and when requested, and comment on variances / major movements / observations.
•Supervising the job assignments of Accounting Staff and their appraisal report for management
•Coordinate with the Development and Commercial teams to complete the budget and / or forecasts and / or cash flows on monthly, quarterly and annual basis.
•Working out the plan for subordinates to lead the group for a healthy management.
•Preparation of monthly withholding tax statements (149/3 and 155).
•Preparation of tax provisions and deferred tax calculations
•Maintenance of books of account (Complete Accounting System) and Preparation of financial statements of various companies in accordance with the applicable International Standards and laws.
•Analyzing reports e.g. cash flows, budgets, bank positions, management accounts, monthly payroll, etc.
•Verification of vouchers e.g. cash payments and receipts, bank payments and receipts, purchases, sales, etc.
•Reviewing bank reconciliations, short term running finance facilities, loans, letters of credit.
•Supervision while undertaking physical verification of inventories and fixed assets.
•Involved in the preparation and monitoring of cash flow, accounts receivable and payable administration and bank account reconciliations on a monthly basis.
•Supported the senior leadership team in formulating annual incremental budgets, calculating monthly variance analyses and initiating cost optimization exercises.
•Led and managed the statement preparation process for employee salaries, tax withholding, payroll processing, vendor payments etc.
• Participate in monthly, mid-year and annual closing process including journal entries, account reconciliations and continuous process improvement.
•Perform analytical review and summarize factors driving variances.
•Prepare key account reconciliations for various assets and liabilities, obtaining interpretation and supporting documentation from business unit analysts.
•Perform monthly variance analysis for balance sheet and income statement, liaising with controlling teams to develop accurate commentary of business factors and trends.
•Gain and maintain knowledge of accounting systems, policies and procedures.
•Build and maintain working relationships with finance business partners and operations groups, providing accounting subject matter expertise for business transactions.
•Assist with review, resolution or optimization of inter-company transactions.
•Prepare schedules for, and assist in facilitating, the internal and external audits.
•Interact effectively with external auditors to ensure that all audits are completed in a timely manner. This includes scheduling the external audits, reviewing requests for information, preparing reports and optimizing the collection of data.
•Participate in balance sheet reviews, process standardization for key reserves and centralized governance of balance sheet metrics for enhanced compliance and quality.
•Coordinate assessment of KICs (Key Internal Controls) and assist with changes toward simplification and effectiveness.
•Develop and document business processes to maintain and strengthen internal controls.
Increase knowledge of IFRS and exposure to technical research.
•Lead special projects and ad hoc reporting needs.
•Other tasks as assigned.
I have been involved in various audit engagements, managing the job independently or as a part of the audit engagement team.
•Performing the audit planning which includes determining the materiality threshold and performance materiality, designing the nature, timing and extent of audit procedures, understanding the internal control system of the client and carrying out risk assessment procedures.
•Performing analytical review/financial statements analysis to identify possible financial statements risk areas and gain a better understanding of the client in the planning phases.
•Perform various types of financial analysis on the Financial Statements, such as ratio and variance analysis .
•Carrying out substantive test work and test of internal controls as a part of the audit fieldwork, in accordance with the global audit methodology and the International Standards of Auditing (ISA).
•Maintaining a professional relationship with clients and interacting with the client’s coordinator and the management to resolve audit issues.
•Identifying and recommending the appropriate adjustments based on the audit findings.
•Preparation of Financial Statements in accordance with the applicable accounting standards (e.g. IFRS).
•Preparation of draft audit reports, and of Management letter detailing weaknesses found during the audit work along with the recommendations.
•Performing the conclusion activities, finalizing the audit and reaching to a conclusion as a result of the audit procedures performed.
•Complete the Client’s VAT return on a monthly basis, ensuring that the VAT owed to the client is promptly reimbursed by HMRC.
•Provide detailed advice on VAT, checking current practice, and evaluating, analysing and making recommendations on the impact of changes in VAT rules and regulations so as to minimise risks to the Client.
Certified Public Accountant(CPA)