Senior Financial Accountant/Analyst
Shanfari & Partners Co. LLC
Total des années d'expérience :27 years, 8 Mois
*Providing support, service and advise on all financial matters to the company's management, i.e. budgets preparation, and presentation, management accounting, MIS and all other financial and non-financial reports and statements.
*Managing complete Group Accounting functions including closing & finalisation in line with IFRS requirements. Consolidate annual accounts and ensure timely audit of the annual accounts.
*Liaising with all central and company departments for budgeting and forecasting purposes.
*Exercising budgetary controls, accounting and physical control as per laid down procedures of asset management. Also, exercising controls on other purchases and services.
*Ensuring tax compliance; return filing for timely basis wherever applicable.
*Ensure proper insurance cover on company's assets in coordination with corporate finance.
*Carrying out inventory control function: like approval of orders, opening of L/Cs, retirement of documents, costing and pricing, insurance, review of inventory ageing etc., to ensure that laid down norms are observed.
*Ensuring that credit limit controls and procedures are observed. Reviewing collection and ageing of debtors. Advising management on credit limits and provide MIS and exception reporting.
*Monitor internal / external payments on timely basis and exercise internal controls so that payments are made as per the approved terms for goods and services supplied.
*Ensuring that all accounting entries are incorporated in the company accounts so that accounts are kept up to date to reflect all the transaction of the business, including all reconciliation with the bankers, debtors, creditors and groups companies.
*Monitoring bank balances against the facilities to ensure that the company operates within the approved facilities. Project cash flows and advise appropriate authorities in case of likely shortfall. Ensuring controls are exercised in cash collections, cash held and banking.
*Producing financials and cash flow projections for arranging or renewing banking facilities: overdraft, term loan, LCs, bid bond, advance guarantee & performance bond and bills discounting.
*Managing the overall financial needs of the company, such as Financial Accounting, Management Accounting, Cash Management
*Oversee financial department employees, including financial assistants and accountants
*Contract outside services for tax preparation, auditing, banking, investments, and other financial needs as necessary
*Track the company's financial status and performance to identify areas for potential improvement
* Seek out methods for minimizing financial risk to the company
* Research and analyses financial reports and market trends
*Provide insightful information and expectations to senior executives to aid in long-term and short-term decision making
* Review financial data and prepare monthly and annual reports
*Present financial reports to board members, stakeholders, executives, and clients in formal meetings
* Stay up to date with technological advances and accounting software to be used for financial purposes
*Controller of Accounts Payable, Accounts Receivable
Financial Analysis,
*Maintaining accounting controls by preparing and recommending policies and procedures,
Coordinates activities with accounting staff and answers questions,
*Budget preparation and variance analysis,
*Monitoring compliance with International Accounting Standards (IAS),
*Coordinating with External Auditors
*Forecasting cash flows and arranging funds,
*Preparation of Reports to bank to enhance existing Banking facilities(LCs/LTRs, Bonds, Guarantees, Interest rates etc.)
*Ensuring proper filing of all accounting documents for future reference
*Profitability Analysis and Reporting
*Strong capability in negotiation and facilitate recovery of pending receivables*Producing Financial Statements in accordance with IFRS.
*Closing Monthly/Year end Accounts.
Reviewing journal entries.
*Working Capital Management.
*Managing Accounts Payable, Accounts Receivable.
Account reconciliation.
*Liaising with banks, providing statements to enhance existing facility or new project facility.
*MIS Report-Variance analysis, capture of expense, product wise costing
*Financial feasibility studies.
*Interpreting Financial Statements, Financial analysis.
*Reconciling financial discrepancies by analyzing information and vendor accounts
*Securing financial information by completing backups.
*Substantiating financial transactions through audited documents
*Collect data and compare actual costs to estimated cost; analyze variances if existing.
*Preparation of Accounts in accordance with international accounting standards (IFRS & IAS).
*Preparation of financial & project forecast and budgets.
*Budget control and cost allocation to cost centres, reporting and variance analysis.
*Working capital management -Credit control, cash management and stock control.
*Fixed asset control, making related journal entries.
Introduction of new chart of accounts and and *implementation of new accounting software.
*Supervision the day-to-day operation of the accounting.
*Vendor reconciliation/ Supplier reconciliation/ Inter-company reconciliations.
*LC monitoring/ Banking matters/ PDC monitoring/ Issue of new LCs and deletion of expired LCs.
*Ensuring all proper documents and necessary information/ explanations provided to Statutory Auditors on time
*Monthly cash flow projection.
*Reconciling bank accounts, inter company accounts & Accounts receivable & payable.
*Classifying & coding transaction in accordance with the company’s chart of accounts.
*Maintain General ledger accounts and reconciliations
*Substantiates financial transactions through audited documents.
Ensure that company records and files are up-to-date.
*Prepare journal entries as necessary to assist in month-end closing.
*Coordinating with customs clearance agents, suppliers & store keepers to ensure delivery of material at proper sites.
*Preparation of monthly, quarterly and annual financial reports
*Reconciliation of bank statements.
*Cooperation with external auditors to carry out annual external auditing
*Preparation of cost statement for each garment style.
*Liaising with tax and other authorities.
*Participating in working capital management.
*Assisting in the preparation of annual budget.
*Involving in the preparation of payroll.
*Variance analysis of expenses
*Ratio Analysis
*Recording, classifying, and summarizing financial transactions and events in accordance with accepted local accounting principles and financial reporting standards
*Preparation of ad-hoc MIS reports to provided information for decision makings.
*Analyzing direct & indirect cost and sales revenue for each product group.
*Assisting in the preparation of annual budget.
*Cash flow projection on weakly basis.
*Maintaining fixed asset register.
*Analyze cost accounting data and assist with cycle count and physical inventories if required.
*Plan, study, and collect data to determine costs of business activities including purchases and inventory.
*Provide costing support to other departments as needed.
*Preparation of feasibility reports for investment activities.
*Involving in system studies and evaluating internal controls of clients.
*Assisting in incorporation of companies and company secretarial work.
*Preparing Profit and loss accounts.
*Preparation of Balance sheet
*Cash flow statements
*Extracting and reviewing trial balance.
*Involved in the audit of accounts of private companies, partnership and sole proprietorship, Industries covered manufacturing, trading, service and non profit organization.
*Preparation of Profit and loss accounts.
*Preparation of Balance sheet
*Preparation of cash flow statements
*Prepared reconciliation of control accounts.
*Assisting in the computation of tax for limited liability companies and individuals.