Chief accountant
Sharif Metals Int'l DMCC
Total years of experience :18 years, 10 Months
1. Providing assistance in monthly financial close by finalizing the trial balance, preparing financial statements and presenting the same to the Top management
2. Creating monthly Profit and Loss variance analysis, by preparing various financial reports and determining the cause of variances
3. Helping Finance Manager in managing bank facilities (Overdraft, LTR's, L/C's & Discounting)
4. Forecasting cash flow positions, and ensuring that sufficient funds are available in bank facilities to meet ongoing operational activities; Following up with the banks, towards the processing of outward remittances, LTR's, export documents discounting and Letter of credit
5. Administering accurate and timely processing of vendor invoices and payments of around $35 Million a month
6. Arranging payments of service providers, general suppliers, utility payments and on time booking of related expenses (with & without VAT) and ensuring that all vendor and petty cash payments are in conformity with the company's allocation guidelines and routine standard principles
7. Collaborating with Accounts Payable and Procurement Team for all new vendor set-ups, creating vendor masters and establishing the credit / debit limits
8. Validating the accounts of vendors, customers on a monthly basis and resolving emergent issues
9.Collaborating with Vendors and Procurements Team to resolve any issues with unpaid invoices, unsettled claims and solving problems daily
10. Ensures required material is being hedged with the broker, to mitigate financial risks due to fluctuation in prices at London Metal Exchange and monthly overview of all open positions with vendors & customers; and ensures proper accounting has been made towards hedged transactions
11.Ensures timely processing of Sales Invoices with annual sales of around $500 Million.
12.Monitoring customer accounts for delayed and non-payments and advised associates accordingly
13.Supervising the record of staff receivables and loans along with assets given to them
14.Reporting accounts payable & receivable aging report to top management on a monthly basis and monitoring the reconciliations of the sub ledgers
15.Maintaining all aspects of general ledger including month-end closing, analysis of general ledgers & monitoring the reconciliation of Daily Cash in hand & Bank accounts; engage in ongoing cost reduction analysis
16.Supervising the record of fixed assets and running depreciation schedule on a monthly basis
17.Providing assistance in Internal & External Audit, preparing assigned schedules & completes requested materials
18.Coordinating with Tax Department in the preparation and submission of VAT returns on a monthly basis
19.Reviewing the Input, Output and RCM ledgers on a weekly basis and taking appropriate actions if required; guiding junior staff and other departments towards VAT related issues.
20. Acting as the leading person in Account & Finance Department with implementation of ERP Software Microsoft AX Dynamics, resolving long-standing IT issues, streamlining systems & creating a highly successful operation
21. Conducting training sessions for existing and new employees
1. Processing the Credit Proposals of Fresh and Existing Clients as per Prudential Regulations.
2. Completion of Pre and Post-Sanctioning documentation of Fund and Non-Fund Based Facilities.
3. Handling customer queries & solves them accordingly.
4. Monitoring of Insurances policies, property evaluation& Stock Reports.
5. Issue / Renew Bank Guarantees favoring to the different departments.
6. Reporting / Parking of Classified cases in Special Assets Management Department.
7. Issuance of Letter of Credits, Contracts and Export Bills.
8. Correspondence regarding Letter of Credits and Export Bills with Foreign Banks.
9. Processing of Inward and Outward Foreign Remittances.
10. Lodgment of Import Documents and Realized the Export Bills.
11. Managing the cases of Post Shipment Export Finance.
12. Reporting of Overdue Export Bills to SBP.
13. Handling of Foreign Currency Accounts and related matters.
14. Preparation and Submission of SBP Monthly Return.
15. Preparation of Weekly / Fortnightly / Monthly statements for top management.
16. Monthly balancing of Ledgers along with Legal Stamps.
17. Posting and Supervision of Cash, Transfer and Online Transactions.
18. Issuance of Pay Orders, Demand Drafts and Deposit at Calls.
19. Preparation and Posting of Inward and Outward Clearing.
20. Facilitate the customer’s for opening bank accounts.
21. Customer due diligence and Know your Customer (KYC) formalities.
22.Handling daily routine issues of customer’s related to bank accounts.
23.Responsible to ensure that the balances of Tax collection accounts, has been transferred at month end.
24.Completion and Maintenance of records according to External & Internal audit requirements.1
1. Summarizing & Recording of Receipts / Payments vouchers on daily basis.
2. Recording & Maintaining of petty expenses.
3. Responsible of passing accrual and month end entries.
4. Handling the issues of bank reconciliation statement and trial balance on monthly basis.
5. Reconciliation of Cash in hand account on daily basis.
6.Evaluation of Tangible Assets and computation of Depreciation.
7. Responsible for making payments to vendors and utility expenses.
8.Maintaining / updating the record of vendors and customers and made appropriate correspondence with them.
9. Preparation of staff salaries, bonuses and other perquisites.
10. Coordination with bank officials towards bank accounts.
11. Preparation of Weekly / Fortnightly / Monthly statements.
Pursuing
Pursuing ( Membership ID # AD53694)
I have studied 24 courses and major courses were, Financial & Managerial Accounting, Financial Management, Investment Analysis, Seminars in Finance, Capital Budgeting, Marketing Management, Marketing Research & Marketing Strategy. Details of Projects and Reports is as under: •Did the financial statements analysis of Warid Telecom & Mitchell's Co. •Made investment in the Share market & submitted the profitability report. •Research analysis on Failure of Luxury Chocolate of Mitchells Co Ltd and World Call's Hello Calling Card. •Analysis on the Management functions of Warid Telecom & Packages Ltd. •Prepared Marketing & Business Plan to form a Well developed & Equipped Fishery Farm and Hair Saloon. •Made an Advertising and Promotional Plan of Newly Established Business of Joggers. •Made a project on the complete corporate functions of Haleeb Foods Ltd. •Did a project on the HR function of Mobilink Telecom.
I have studied 16 courses, and major courses were, Financial Accounting, Cost Accounting, Advanced Accounting, Auditing, Business Law, Business Taxation, Economics, Banking and Finance.