Senior Specialist ( Budgeting , Costing and Reporting)
Maaden
Total des années d'expérience :14 years, 5 Mois
Working in UNDEFINED liaison role at head office to assist Shared Service Department (Trade & Services) and its related companies. For matters;
-Finance & Accounts
-Corporate Governance
-Monthly KPIs
Responsible for reviewing and initializing all Payments, LC documents, Bank guarantees, commercial documents, document related to corporate governance, for five Operating units (LLCS)
Reporting for new ongoing mega Projects;
- Farabi Yanbu Petrochemicals Co
- Farabi Down Stream Co
- Hadaf International Energy Co.
That Comprises of full span of reporting;
Controlling WBS module in SAP
CAPEX reports with forecast
Monthly Financial
Supervising all payable activities & reviewing payments
Supporting in developing FA register
Supporting in IFRSs implementation
Ad-hoc auxiliary reports
Assisting in developing monthly report (CPR) for operational base plant (Farabi Petrochemicals Co)
CPR is a company performance report that comprises of detailed standard cost variance analysis.
Cost & Performance:
To manage the complete cost information for all the Supply chain & Manufacturing activities by implementing control procedures, validating & integrating with system (Oracle Process Manufacturing) data to ensure;
• The accuracy of financial information.
• The target profit & cost for new customer & projects.
• Price and right product mix decisions.
Financial Reporting:
Prepare monthly consolidated financial statements and auxiliary reports timely and accurately to meet partner and department requirements, policies and standards.
Financial Analysis:
Responsible for preparing and entering financial and operational reports in a tailor-made software by Alpla corporate, namely "eMis.
*The goal of this business software is to record, categorize, analyze, compile, interpret and then present a comprehensive, an accurate and updated financial, operational and administration data for all plants in KSA, profit center wise.
Preparing presentations for monthly performance of each plant in KSA in accordance with required information by partners.
A glimpse of my Accounting and Financial Exposure is;
Financial Accounting & Reporting:
•Entity Concept, Nature and Specific Need Analysis
•Designing of Risk free Chart of Account
•Classified Trial Balance (sub ledger, Partial TB)
•Initial Recognition and Subsequent Measurement of Accounts
•Comparison of Presentation and Classification of Financial Statements of,
-Financial Position
-Income and Comprehensive Income
-Cash Flows
-Changes in Owners’ equity
•Financial Consolidation
•Cash Bridge and Forecast
•Working Capital Management
-AR Management;Initial Recognition, subsequent measurement, Mgt Reports:Aging, credit policy etc.
-AP Management;Initial Recognition, subsequent measurement, Mgt Reports:Aging, credit policy etc.
-Inventory Management; costing method, Initial Recognition, subsequent measurement, Inventory Cost flow assumptions and Mgt Reports: Aging etc.
•Comparison of Long-Lived Assets
-Property, Plant and equipment
Cost model v/s revaluation model
Componentization, depreciation
Treatment of idle assets
-Intangible Assets
-Investment Property
-Decommissioning and retirement obligation
-Impairment of Long-Lived Assets
•Comparison of Financial Instruments
-Classification of debt and equity investments
Fair value through P&L
-Transfer between categories
•Comparison of Liabilities and Equities
-Criteria of recognition and disclosures: Provision, Contingent liabilities, assets
-Other comprehensive income components
•Accounting Changes and Discontinued Operations
-Treatment of changes in accounting policies
-Changes in estimates
-Correction of errors (Reconciliation expert)
-Initial recognition for discontinued operations and subsequent measurement
Financial Analysis
•Financial Statement Analysis
-Quality
-Arithmetic Ratios Models
•Financial Modeling
•Scenario Analysis
•Balance Scorecard Ratios
•Financial Dashboards of CGUs
•Financial Forecasting, Master Budgeting, Capital Planning tools for new products and projects IRR, NPV, PAYBACK etc.
Achievements
For current employer i have gathered 10 years historical, and five years planning data for seven Operating Companies. Then successfully have developed Model Matrices in Pivot reports ( financial ratios, common size, per ton cost trends) this practice have really added value at the time of evaluating budgets received from all OCs every year. We were able to deeply analyze the activity of operations.
Successfully developed Financial Dashboards to calculate the variances and their communication to OCS.
My feedback regarding Strategy Management System is now part of their final plan (some misleading financial ratios were discussed to arrive at final formula after full understanding)
Successfully have given feedback on Ocs Monthly financial statements subject to reclassification and financial measurement & recognition as per reporting standards to overcome the risk for decision making.
For operating companies having negative bottom lines (TSL, SGN, and APWS) had successfully done scenario analysis to get the advantage of operating leverage.
First time used the feature to generate standard financial statements (IS, BS) via Merlin Accounting software with system generated notes to accounts.
Ad hoc assignments i.e, feasibility studies for some ocs, Goodwill Impairment, Investment Impairment test for under loss Ocs, Purchase Price Allocation for Subsidiary and its first special purpose unconsolidated financial statements etc.
Providing Consultancy for below firms was an awesome experience.
European World Co (EWC) Dammam:
successfully first time lodge an accounting system for this establishment, reconciliation with opening audited financials.
provided full sport and liaison with External Auditors; Morison Internationals' for finalizing Dec 2012 Audit.
Handed over designed procedure and policies to their new hired accounts supervisor.
Arabian Brothers Est:
From scratch lodged accounting, financial, and operational policy for this small industry.
first time lodge dual entry accounting system(Quick Book) and shifted all historic data on it. Designed all supportive documents for financial operations.
Al Shalawi Int Holding Co:
For their delayed project in Jubail Mutrafiah had successfully calculated cite Material variances, investigation and filing final requisition to Procurement. Successfully lodged a system based on excels for the Material control department.
In compliance with SECP preparation of Quarterly Consolidation of financial results of Textile, Oil, Cotton and Ginning units at Head Office, interunit reconciliation and Banks funds allocation among units. Filing sales tax returns and dealing issues of FBR.
Responsible of Inventory / Costing / Accounts Receivable Department. Preparation / Supervision of Costing of new Products. Supervising in Quarterly Inventory of Production Shop Floor and Warehouse (Finished Goods & Material Warehouse) and preparation of Variance Reports and submitting the report to Management.
Achievements
Successfully defended FBR Special Intelligence wing Islamabad against the show cause PKR 5 Trillion. This long practice comprised of historical five year reported sales revenue reconciliation with the total funds credited in company’s all banks accounts. I got GL expertise in this practice.
In 2009 on the sudden leaving of Accounts officer just prior to annual audit I successfully took the charge of department. It was challenging to resolve the current and prior year issues of whole Group (12 operating units ) as stock quantitative GLs, Bank’s Margin accounts, STF, LCs, Taxes GLs and Inter Unit balances were not reconcile. I successfully provided all requirements and defended the pre-qualification.
One year working experience as an internee under CA Article with Partner Ahmed Mushir & Co Chartered Accountants. Participated in half yearly and final closing with their major client Fatima Enterprises (Public Ltd co). Implementation of Audit Program and procedure, audit working paper for their discontinued operating units (Cotton & Oil Units).
Achievements
My exposure gave me an opportunity to start my professional career with Fatima Enterprises Ltd entity on mid-level position.
M.Com Part - I (Course Outlines) 1.HRM and Strategic Management 2.Quantitative Techniques for Business 3.Financial Management 4.Business Communication 5.Managerial Economics 6.Corporate Accounting 7.Marketing Management M.Com Part - II (Course Outlines) 1.E-Commerce and Computer Aided Accounting and Business Systems 2.Managerial Accounting 3.Corporate and Business Law 4.Business Research Methods 4.Entrepreneurship M.Com Specialization (Course Outlines) Accounting Specialization 2.Advance Accounting
B.Com Part - I (Course Outlines) 1.Economics Analysis (Revised) 2.Business Mathematics and Statistics 3.Financial Accounting 4.Functional English 5.Business Law 6.Computer Applications 7.Introduction to Business 8.Islamiat B.Com Part - II (Course Outlines) 1.Business Taxation 2.Advanced Accounting (Revised) 3.Auditing 4.Cost Accounting (Revised) 5.Business Finance 6.Issues of Pakistan Economies (Revised) 7.Business Communication 8.Pakistan Studies