Finance And Accounting Manager
Ajman markets cooperative society
مجموع سنوات الخبرة :18 years, 3 أشهر
• Formulation of financial strategy, vision, mission, Policies, processes, procedures and leads the decision-making process to ensure that company delivers long term and short-term objectives.
• Leads and direct the continuous improvement of financial system and practice including the directions and facilitation for the other sectors of business such as Supply Chain, production, retail and HR etc.
• Leads the annual budgeting exercise starting from budget forecast to challenges meeting to budget drill down to ensure the achievement of strategic objectives with periodic variance reporting and proposals.
• Advice and Provide CEO with benchmarks on various metrics, financial updates and situations with suggestions for business development plans.
• To ensure audit compliance and full sign off without reservations from the auditors to maintain full adherence to company’s policies and standards. • Manage the complete accounting operations (AP, AR, FA, etc.) to ensure smooth and accurate flow of operations.
• Direct the treasury function ensuring the adequate availability of funds for short and long term requirements with effective utilization of funds.
• Ensure the development, implementation, and maintenance of internal controls and to raise the awareness towards organizational vision and mission.
• Reviewing all financial reports for accuracy in order to ensure adherence of relevant principals, policies, standards & management’s requirements.
• Ensure accounting processes and procedures conform to both IFRS .
• Responsible for periodic reconciliation and analysis of General Accounts.
• Develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
• Supervising the team of Finance Staff in Gulf region; Monitoring the performance and Reporting staff KPI’s to the Group Finance Director.
• Ensure adherence to local accounting practices and laws across UAE, Qatar, Oman, and Kuwait and followed as per the GAAP.
• Monthly Review and analysis of Financial Statements to ensure the accuracy of records
• Handles monthly balance sheet reconciliations and analysis of prepaid expenses, capital assets, depreciation, amortization, accrued liabilities, inventory, etc.
• Review daily/monthly banking transactions and reconciliation of all bank accounts. Includes initiation of account transfers, wire payments, daily reconciliations of main bank accounts and reporting of cash position.
• Review and approve WPS files. Initiate manual and electronic payroll transfers.
• Review AP aging and secure the payments on time.
• Review AR Aging and billing cycle and collection progress monthly wise
• Develops and documents business processes and accounting policies and procedures to maintain and strengthen internal controls
• Prepares month-end / year-end reporting package - balance sheet, profit & loss statement, cash flow statements, and other comprehensive reports including monthly management report.
• Supervising Annual Stock Count.
• Vat Implementation for the group
• Ensure submission VAT return report correctly and on time.
• Review taxation requirement for Non GCC countries.
• Handling requirements of internal and external auditors.
•Review, Enter and Analyze Payment to the correct standards.
•Prepare Percentage of complication
• Prepare Supplier & subcontractor reconciliation on a monthly basis ensuring our outstanding balances tally with our suppliers.
•Maintain Financial accounting processes & add value to them by streamlining and continuously improving them.
•Monthly closing activities (Accruals, Capitalization, Reconciliation, etc..)
•Prepare audit schedules for auditors (internal & external) & provide overall support to them during the audit period.
•Compilation of trial balance
•Preparation of Monthly financial reports, Aging reports and cash flows
•Implementing the Budgeting Process and coordinating the preparation of yearly Budgets in terms of training, planning, interpreting, supporting, assessing, and reporting
•Analyzing the yearly submitted budgets, and proposing the suitable amendments as applicable, in line with the Company’s short and long term objectives
•Assist in Preparing Financial statements.
•Create and monitor a system of controls, procedures, and forms for the recording matching of invoices.
•Subcontractor payment certificates reviewing and booking
•Responsible for verifying and validating all the invoices entered and match by accountants in oracle.
•Prepare Bank Statement (Cash Flow Report) weekly
•Coordinating and follow-up with Procurement department for purchased order related issues.
•Coordinating with other departments, locations and divisions for concerns related to payments.
• Assistance in accounts payable for invoice discrepancies and vendor invoice settlements.
•Responsible for consolidations and intercompany accounting transactions.
• Preparing monthly recurring journal entries and reconciliations for vendor accounts.
• Assist in proper payable documentation and monitoring of internal controls.
•Responsible for General Ledger work including Journal Voucher entries.
• Preparing schedules of retention payable and supplier payments with break downs for audit
•Review, checks and cancel stale cheques (6 months unclaimed status)
•Review and update Local Vendors with Debit Balance and send the report for clearing.
•Maintain the daily summary of company account,
• Assisted the Director of Accounting with accounts receivable.
•Perform a variety of entry level accounting functions applying accepted procedures to the preparation and maintenance of accounting and other records.
•Assisted in preparation of budgets and projected financials,
•Fixed Assets Accounting.
•Bank reconciliation.
•Monitoring account receivable and follow up collection
•Compliance to Company policy and procedures.
•Monitors violations of credit policies
•Release on hold sales orders as per authority matrix.
•Review daily collection as per company complained policy
•Ensure payments are collected from all customers as per due dates. Ensure overdue level is maintained below 5% Threshold throughout the year.
•Ensure that advance communication is in place with sales management and customers to guarantee timely collection of dues. Proactively resolve all issues relating to shipments / returns /damages etc. that may adversely impact timely collection.
•Provide management status of dues on & respective collections on weekly basis.
•Closely monitor Accounts Receivables on weekly basis. Put process in Place to ensure every customer account is properly reconciled at least once a month.
•Analysis Monthly customer reconciliations variances and solve all issue with customers if any.
•Liaise with Accounts Payable managing team to ensure all necessary entries are correctly & timely posted in customer accounts.
•On a weekly basis provide manager a status of AR. Assist in preparation of AR analysis for monthly reporting pack.
•Ensure to meet all key customers regularly and help develop a win-win strategy
•Prepare monthly customers specific provision if any.
•Review Monthly bank reconciliation to ensure all entries is updated.
•Follow guidelines issued for record maintenance. Ensure Audit trails are in place and prepare necessary reports for Revenue Audit on monthly basis
•Rendering tax advisory and compliance services
•Preparation of personal income tax and corporate tax returns and VAT
•Calculation of taxable income and tax liability for corporate clients
•Filing the income tax returns on behalf of clients
•Representing clients in the taxation authority
•Preparing reconciliations of taxable and accounting values of assets, liabilities, expenses and revenues figures
accounting
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