Senior Accountant Cost Recovery, AFE and Budget Control
PetroChina
Total years of experience :29 years, 7 Months
Supervises Budget and AFE Controller function in the Accounting Department to ensure proper controls are in place.
Coordinates monthly, quarterly and yearly closing of accounts and follows up with other departments to ensure that all required information is received within stipulated timeframe.
Monitoring monthly actual results with the budgeted/outlook numbers and carrying out variance analysis.
Assist in the preparation of annual budgets based on the future expected revenue and cost details collected from all departments.
Responsible for preparing Cost Recovery and Lifting Oil as per DPSC and other related agreement. Along with explaining Capital and Non-Capital Cost, Exploration and Development Cost, Production Cost, General & Administration Cost, Lifting Entitlement, FQS, OSP, Unrecovered Cost etc. its impact and economics.
Analyze and negotiate with Iraqi government the Lifting Entitlement modules and responsible for recording/reporting production/inventory volumes.
Participating in the development of specialized accounting systems for cost recovery and oil lifting.
Actively participate in completion of Annual Statutory and Petroleum Cost Audits without any significant issues.
Responsible for maintenance of the General Ledger in accordance with US GAAP and Development Production Sharing Agreement (DPSA) provisions.
Responsible for smooth running and maintenance of R.12 modules including G/L, Project Costing, Fixed Assets, JVA, Cash Management and Project Costing. Oversee Projects module with Operations and Cost Control.
Accountable for managing Financial, Accounting and submitting periodic reports to National Oil Company in Qatar (Qatar petroleum “QP”)
Monitoring monthly actual results with the budgeted/outlook numbers and carrying out variance analysis
Reporting and analyzing data for various scorecards and Key Performance Indicators (KPIs)
Responsible of various audits i.e., DPSA, Statutory and SOX compliance
Mentoring and developing Accountants
Accountable for managing Financial, Accounting and submitting periodic reports to National Oil Company in Qatar (Qatar petroleum “QP”)
Monitoring monthly actual results with the budgeted/outlook numbers and carrying out variance analysis
Finalizing monthly financial statements and submitting to Home office in US
Analyzing and reviewing with the cost center manager budget and outlook variances, coordinating crude oil lifting and revenue accounting
Keeping track of crude oil lifting and maintain up-to-date records for production, entitlement, lifting, sales and crude oil inventory position
Preparing accurate and timely monthly management reports including submission of financials to head office in Hyperion package
Reporting and analyzing data for various scorecards and Key Performance Indicators (KPIs)
Assisting in the preparation of annual budgets and monthly forecasts based on the future expected revenue and cost details collected from each cost centers
Responsible for the preparation of reports and submitting to QP-Production and lifting reports, Petroleum cost statements and various activity reports
Monitoring the cash flow requirements for operational as well as capital expenditure
Responsible for the maintenance and supervision of all books of account for the location i.e., General Ledger, Sub-Systems (Fixed Assets, Inventories & Receivables etc
Consolidating financial results for Headquarters, Area, including all Financial Procedures
Participating in Internal audits for other SLB locations
Writing the Policies and Procedures manual of the Finance Department
Participating in the development of the long term business plan and periodic budgets
Mentoring and developing Management Accountants
Reviewing Contract for Finance, Tax & Insurance clauses
Coordinating with external and internal audit
Participating in the development of the long term business plan and periodic budgets
Monitoring monthly actual results with the budgeted/outlook numbers and carry out variance analysis for segments assigned
Preparing accurate and timely monthly management reports including submission of financials to head office in Hyperion package
Assisting in the preparation of annual budgets and monthly forecasts based on the future expected revenue and cost details collected from each business segment
Responsible for the preparation of tax statements and accounts for segments assigned
. Supervising all supplier payments,
. Assisting Tax Manager in Fiscal issues
. Coordinating with internal & external auditors.
Developing audit strategy and Planning
Discussing and advising clients on various corporate issues including statutory requirements, taxation, system of internal controls and reporting
Participating in Internal & External audits/tax audits for various clients
Arranging & Filling Tax returns for clients
Implementing PWC audit programs
Mentoring new comers and enhancing their capacities to meet the requirements of the client for consistent success of the organization
I am a chartered Accountant Finalist