Treasury/Accounting Analyst/Cost Controller
Yanbu Aramco Sinopec Refining Company Limited (YASREF)
Total years of experience :27 years, 6 Months
Major Responsibilities are:
• Assigned as cost controller of the Turnaround activities.
• Preparation of monthly, quarterly and annual financial statements
• Coordination with Internal Auditors and external Auditors regarding the resolution of queries raised during Audit.
• Monitoring daily transactions regarding payables, GL and others
• Reviewing all drafts of contracts before awarding, Involving in Negotiation of bids to award the contract etc.
• Involve in VAT implementation in the company and configuration in the SAP system
• All payments after verification of invoices through automation in SAP.
• Fully conversant with IFRS/IAS/ISA/GAAP
• Maintaining the records of all bank payments guarantees and performance guarantees obtained from the several contractors against the contract awarded.
• Daily cash position, Sadat payments etc.
• Cash forecast for future
• Time deposit management
• Risk Management
• Preparation Budgets, Monthly Analysis of actual expenses with budgeted.
• Coordination with supply chain management and SAP people for resolving several matters regarding vendors and cash positions.
• Insurance related matters, valuation of assets for insurance etc.
• Analysis of Financial Statements of Contractors/Vendors for prequalification
• Any other tasks entrusted by management
Major Responsibilities were:
• Supervision of daily routine transactions, i.e. GL, A/P, A/R etc.
• Preparation of monthly, quarterly & annual accounts/reports to fulfill the compliance of Government regulatory.
• Filing of monthly, quarterly and annual returns of the company
• Responsible for annual statutory audit, Coordination with internal auditors,
• Manage cash flow forecasting and control processes,
• Responsible for Fixed Assets, Income Tax, to provide functional and administrative management of all accounting control activities (e.g., debtors, creditors, etc.),
• Coordination with internal auditors, Assist in financial process review and re-engineering, system implementation and other adhoc assignments, Coordinate activities with other SAP FI users within the group for book closures etc.
• Dealing with banks regarding funds arrangement having awareness of Prudential Regulations of State Bank of Pakistan
• Daily funds position, Preparation of cash flow statement,
• Obtaining Leasing Facilities from Financial Institutions
• Monitoring all treasury related functions i.e. opening of LCs for importing crude, obtaining different financing facilities from financial Institutions,
• Monitoring all the collateral submitted with banks for obtaining financial facilities including charge on assets etc.
• Assisting CFO on IPO, Restructuring of LTL, Merging of companies etc.
In Byco Group: I also got the opportunity of utilizing my past experience of company secretarial works, since I assisted the company secretary in disbursement of dividends, Right issues, Increase in authorized capital and other company secretarial tasks.
Preparation of Budgets, Arrangement of Funds, and Monitoring of day to day Transactions and administrative works.
Preparation of Monthly Accounts. Quarterly Accounts & Half Yearly Accounts, Dealing with banks regarding funds management, Monitoring of Receivables & Payables, Monitoring of Daily Transactions, Other responsibilities entrusted by management at times.
To monitor Daily Financial Transactions. To prepare Quarterly, Half yearly & Annual Accounts. Supervision of cost accounting system i.e. to determine cost per metric ton of the products, reconciliation of inventory, analysis of variances, budget preparation etc. To liaison with bankers, sale tax authorities, solicitors, auditors, SECP authorities. To supervise export and import functions. Company secretarial works. Arranging and conducting of Meetings of Board of Directors, Audit Committee, Management Committee Meetings, etc. Arrange and assist for holding AGM, EOGM. Preparation and Circulation of Minutes of Meeting. Maintaining Statutory Books§ Filing of Statutory Forms required under the law, Ensuring Compliance of Company Law, Code of Corporate Governance, Prudential Regulation etc. Compliance Policies & Procedures of the organizations Increase in Authorized Capital, and Right Shares Issue & Dividend disbursement. Other responsibilities entrusted by management at times.
HP Casing Project, Preparation of Budget for Joint Venture. Monitoring the cost incurred for comparison. To prepare Work Contracts, Work Order Contracts etc. Commercial Evaluation of bidders. Payments to Contractors and Suppliers. Well cost sheet preparation during drilling and Work¬over. Prepared Budget for Purification Plants taken over from SSGCL. Analysis of variances b/w actual cost with budgeted cost. Other responsibilities entrusted by management at times
Development of double entry system and proper documentation. Preparation of quarterly financial reports. Development and maintaining Process Costing System. Responsible to revise standard costs and to work out actual costs for existing products and variances analysis. Preparation of Departmental Cost Sheet on Monthly basis. Preparation of Summary reports related to Costing & Project feasibility for top Management. Working of Cost of Sales and Valuation of Inventories. Supervision over reconciliation of production data and to reconcile them with material consumption. Reconciliation of Labor cost and Production on monthly basis. Other responsibilities entrusted by management at times.
Preparation of Monthly Accounts. Receivables & Payables Management. Preparation of Bank Reconciliation Statement, Budgeting system developed on the IBM AS 400 Business Planning and Control System. Analysis of variances. Supervision of the Cost Accounting System. Other responsibilities entrusted by management at times.
Since this degree has been obtained on the bases of ACMA which is equivalent to Master so I mentioned this as Master.
Associate Members of the Institute of Cost and Management Accountants of Pakistan. Higher Education Commission of Pakistan issued M. Com. Equivalency for employment and for further studies. Major subjects were Financial Management, Advance Financial Accounting, Advance Cost and Management Accounting etc.
Corporate secretaries of Pakistan. eligible to become a company secretary, CFO and manager of Finance/Treasury on the bases of this qualification.