Fraz Ahmed

• Taxation and Legal compliance and advisory services https://affco.com.pk/
• Federal Board of Revenue (FBR), Companies ordinance 2017, Income tax and sales tax ordinance, Securities and exchange commission (SECP), Board of Investment (BOI), Appellate Tribunal of Inland Revenue (ATIR), Commissioner appeals etc.

Company overview:
Sport clubs with international presence and holding company in Australia render game services. The biggest indoor trampoline park operator of 78 stores in 10 countries worldwide. www.flipout.com
Activities performed:
• Implementing the accounting framework and producing the financial statements according to the guidelines of International
Financial Reporting Standards IFRS and IASB.
• Responsible for making final accounts hence correcting missing entries, finding the fault and errors presented in the financial
statements and overseeing entries posted by book keeper on Intuit software.
• Administering the operations of company thus liaising with External Auditors (EY), Directors, Clients, suppliers, employees,
banks and other stakeholders.
• Preparing budgets, projection, forecasts and prospective financial information for the purpose of formulating strategies,
decision making, analysing the trends and anomalies, and hence value creation of company with the aid of authenticated
financial models and internal controls
• Leading the team and hence responsible for giving expert advice for employees and delegation of tasks thus maintaining the
decorum of company while focusing finance department activities

Finalizing monthly, half yearly and annual financial statements (statement of financial position, statement of comprehensive income) to specific deadlines in accordance with IFRS & GAAP
Managing Trial Balance, maintaining general ledger and accounts on HANSA (SAP based ERP System)
Preparation and managing of company budgets, rolling cash flow forecasts and interpreting financial information influencing business performance
Valuation of companies by arranging due diligence audit from Deloitte, KPMG, PWC, EY (Big four audit firms) for the acquisition of subsidiaries and evaluating the proposals
Processing and examination of billing documents including invoices, packing lists, supporting documents after reviewing shipping documents and Client Purchase Order for Exports
Oversee the accounts receivables, accounts payables, stores and purchasing department to ensure proper working capital management and conducting internal controls review
Setting up monthly meetings with sales and operations to review pipeline projects to grant financial viability and efficiency
Performing internal audit throughout the company’s operations and departments, liaison with external auditors (Grand Thornton) for meeting with their requirements for interim and final audit
Developing external relationships with banks; arranging new sources of finance for company’s debt facilities, solicitors and government institutes; keeping abreast of changes in financial regulations and legislations
Leading, developing and supervising the finance team for daily operations with delegation of different tasks and activities

Drafting financial statements (Statement of financial position, statement of comprehensive income, cash flow statement)
Preparation of Trial Balance, maintaining general ledger and accounts on Orion - Oracle based ERP System
Processing Payroll of the employees through SIF - WPS (wage protection system) via Bank & Exchange
Handling and reviewing Invoices, Quotations, Payment Vouchers, Receipt Vouchers, Legal Purchase Orders, Other supporting documents and Cheques to trade creditors and from debtors for ensuring completion, accuracy and occurrence
Responsible for petty cash management
Responsible for project management thus performing feasibility analysis including profitability analysis, cost benefit analysis, advanced investment appraisal techniques, PFI’s (Prospective Financial Information) Budgeting, forecasting and Cash flow projections based on best estimates, Variance analysis, decision trees etc.
Financial interpretations using ratio analysis and variance analysis for management decision making
Checking fixed assets schedule, CAPEX, OPEX, lease schedule, rent schedule etc.
Direct Dealing with banks, bank reconciliations and checking reconciliation of various GL accounts
Liaison with external auditors
Managing operations and leading the finance team comprising three members in Head Office of seven subsidiary companies in Jebel Ali Free Zone, Dubai based group.

Assisted in various statutory and external audits from planning stage to completion stage and maintaining audit files
Performing analytical procedures for general understanding of business and setting materiality levels
Identifying audit risks and business risks, implementing cut off procedures and making audit trail
Testing and applying test of controls and substantive procedures on various areas of financial statements; Revenue, Expenses, Liabilities etc.
Filing of monthly sales tax returns as per Sales Tax Act, and Income tax returns as per Income Tax Ordinance (eFBR)
Physical stock take and inspection at the year-end