Manager Financial Planning and Control
Eighteen - Ora Developers
Total years of experience :11 years, 1 Months
Eighteen is Pakistan's first lifestyle destination developed by Egypt's Ora Developers. Following the success of Mobilink Telecommunications partnership backed by Orascom Telecom Holding, Ora Developers have come together to setup a multi-million-dollar, flagship luxury development, creating a vision of international living in Pakistan.
I am working as Manager Financial Planning and Control. My responsibilities include:
Preparing Annual and Quarterly budgets encompassing all financial requirements including Revenue recognition based on IFRS 15 requirements, Sale and Collection Forecast, Projected Construction Cash out based on deliveries, Contract Cost (Sales Commission) recognition, payroll cost estimations and Operational expenses.
Maximizing Company value by enabling a variety of strategic financial insights to the Executive and developing control reports for analysis against budgeted benchmark performance and cost estimates.
Monitor, evaluate and provide monthly reporting of construction activity, focusing on targeted construction progress reports.
Support and review monthly accounting closing ensuring compliance as per accounting standards.
Prepare and submit monthly Financial Performance Dashboards to management and Ora Developers Head office.
Assist commercial forecasting, feasibility evaluations and NPV calculations. Provide in-house data audits and specialized ad-hoc reports across multiple departments.
Identify variances between actual and budgeted financial results at the end of each reporting period.
Assist other departments in preparing operating budgets according to their goals and expenses. Budget allocation and reallocation between departments/cost centers and expenses heads in Oracle Fusion.
Supervising the monthly checklist for Accounts Payable by ensuring the timely recording of G&A accruals, fixed asset depreciation run and receiving of Purchase orders.
Monthly presentation of collection analysis, receivable aging analysis and overdue receivables analysis based on sales type, sales year and overdue period.
Liaison with internal and external auditors in completing audit assignments.
Monitoring and reporting operational expenditure variances with budget to management.
Ensuring capitalization of expenditure is appropriately recorded as per the Fixed Asset Policy. Analyze financial information (e.g. Revenues, expenditures, and cash management) to ensure all operations are within budget.
I worked as a Assistant Manager in finance department of Emaar Pakistan Group a subsidiary of Emaar PJSC, which is pioneer in master-planned
residential communities.
My responsibilities includes:
Preparation of accurate and timely financial accounts by posting financial transactions for the assigned area and highlighting variances so
that effective action can be initiated to improve operating performance.
Recognition of revenue as per IFRS 15 on monthly basis and regulating cost as per project accounting manual.
Ensuring all payments comply with management policies and procedures and approved by the relevant parties.
Supervision of surplus funds placement, negotiating favorable rates and effective benefit analysis.
Preparation and presentation of Annual Budget based on strategic future planning of organization and finalizing of project based feasibility.
Managing the Tax Audits of organization by representing with appropriate record in Large Taxpayer Office, Tribunals & High Court and
successfully defending the organizations stance.
Incorporation of deferred tax, current tax and unrealized tax losses workings.
Incorporation of deferred tax, current tax and unrealized tax losses workings. Calculation of applicable taxes for EXPATS and management
remuneration packages.
Processing of payments for Overseas vendors and contractors by attaining approvals from SBP.
Preparation schedules of supplier and advances reconciliation statement, accounting accrual and allocations.
Investigating and recommending improvements to the Company’s financial systems specific to his area of accountability, improvements in accounting software etc., to contribute improving efficiency & profitability.
Daily preparation and reporting of cash flow statement and trade payables to management.
Finalizing of Trial Balance for monthly reporting.
Supervising and ensuring the compliance of Withholding, Payroll & Sales Tax and dealing with FBR and consultants on tax related matters.
Calculation of applicable taxes for EXPATS and management remuneration packages.
Preparing and submitting monthly memorandum report and quarterly reporting of CONSOL Pack to corporate head office.
Liaison with internal and external auditors in completing audit assignments.
Assisting management on ad hoc basis