Chief Accountant
AL Dobowi FZE
Total years of experience :26 years, 2 Months
Opening Import LC and collection of documents from Banks and sent to Customs for clearance
Submission of documents to Bank under Export LC /CAD/DP
Opening of TR facility and ensure the facilities are under the limits & Leasing with Banks & Trade Finance
Preparation of monthly Financials for Europe Division /Nigeria Division
Submission of Tyre Claims to Hankook Tyres Co Ltd, Korea & Shandong Linglong limited, China
Sales Margin Reports for Division wise ( Europe /North America /Australia/South Africa/Nigeria)
Submission of MIS to the Management as and when required
Internal Audit for Gurudwara Sikh Temple, a part of Al Dobowi & submission of reports to Committees
Preparation of Revenue & Expenses Budgets and consolidation
Submission of offshore reporting to Nigeria / Ghana Operations
Prepare reports such as budget Vs. actual, profit & loss statements, Chartering income etc.
Manage large size secured or asset based credit loans for ships, working capital lines of credit with various banks and treasury.
Maintain an effective working relationship and open communication with various banks to enhance our credit portfolio.
Prepare the Holding company sub consolidation
Prepare the statutory accounts for Holding Company entities and facilitate the audit of these accounts
Ensure close adherence with national and international financial regulations, particularly VAT and tax authorities
Responsible for
o Preparation of financial statements for Hotel Division ( Short Term) .
o Preparation of cash flow statement and reporting on daily movement of funds.
Accounts Payable and utility Payments
Ensure correct accounting codes before Batch approval in JD Edwards
Checking the accuracy of Daily postings of Hotel activities to ED Edwards from Opera (HMS)
Bank Reconciliation for Credit card postings and online funds transfer
Coordinating with auditors for annual closing of accounts.
Preparation of Revenue & Expenses and Consolidated Budgets
Supervision of WPS System ( Payroll Management
Control over Fixed assets ( Fixed Asset Control)
Taking CAR policy for contracts to be started - Sending the proposal and getting quotes from various insurance companies and finalizing best rate.
Discounting of PDC’s Cheques (Bill Discounting - LBD).
Checking all suppliers’ payments of all the divisions.
Opening LC and sending the draft copy to suppliers to get their approval before opening.
Coordinating with PM towards all project variation claims and approval process
o Preparation of consolidated profit & loss account and Balance sheet for all the division on monthly basis.
o Monthly reconciliation of intercompany owing and elimination of inter-company transactions for arriving net sales to the company
o Coordination with auditors for annual closing of accounts
o Submission of bank guarantees for the contracts awarded and to be awarded. (Tender Bond, Performance Bond & Advance Payment Guarantee)
o Submission of Payment guarantees for suppliers.
Maintaining status report for project bank accounts, PDC, LC, TR, bills Disk, Guarantee etc.
Ensuring timely renewal and cancellation of guarantees
Sending letter of lien & setoff to banks for creating lien on FD for the bank guarantees to be taken and releasing the lien once the guarantee is cancelled
To generate forecasting & postpartum reports on all running projects
To forecast & analyse the running project performance, cost to completion and expected completion time, Organizational cash flow project wise
To verify & book the sub-contractor payments as per their approved RFI & measurement sheets
Provide adhoc information & support in any cost related matters to the management
Liaise with internal and external auditors & Government bodies to prepare the necessary finance documents.
Prepare financial reports, budgets, cost reports and financial forecasts on regular basis
Liaison with suppliers / sub-contractors to negotiate payment terms, monitoring and maintaining LPO and other related agreements
Responsible for:
o Preparation of consolidated profit & loss account and Balance sheet for all the division on monthly basis.
o Monthly reconciliation of intercompany owing and elimination of inter-company transactions for arriving net sales to the company
o Coordination with auditors for annual closing of accounts
o Submission of bank guarantees for the contracts awarded and to be awarded. (Tender Bond, Performance Bond & Advance Payment Guarantee)
o Submission of Payment guarantees for suppliers.
Ensuring timely renewal and cancellation of guarantees
Sending letter of lien & setoff to banks for creating lien on FD for the bank guarantees to be taken and releasing the lien once the guarantee is cancelled
Taking Visas & Absconding labour guarantees and cancellation of absconding guarantees after six years and ensure reversal of that guarantee from the group financial limits
Taking and renewing vehicle insurance policies for the group vehicles and to ensure they are renewed in time.
Taking CAR policy for contracts to be started - Sending the proposal and getting quotes from various insurance companies and finalizing best rate.
Discounting of PDC’s Cheques (Bill Discounting - LBD).
Checking all suppliers’ payments of all the divisions.
Opening LC and sending the draft copy to suppliers to get their approval before opening.
Accountable for:
o Preparation of profit & loss account and Balance sheet on monthly basis.
o Submission of bimonthly statement to airlines and accounting of commission on the basis of advice given by the airlines.
o Timely collection of receivables and providing discount on the basis of payment terms.
o Payments to airlines in due dates.
o Coordination with Internal & Statutory auditors for closing of accounts.
o Submission of returns to government body on due dates.
o Submission of MIS to Management.
• Submission of monthly and quarterly reports to banks on stocks and receivables
• Checking of interest on term loans and working capital facilities.
• Monitoring of day to day accounting work including feeding of vouchers etc, payments to suppliers, and reconciliation of daily deposits, Bank Statements etc.
• Coordination with internal auditors for monthly internal audit and replies to the queries raised by them, if any.
• Ensuring timely collection of receivable and preparation of discounts to customers on the basis of quantity off take and payments
• Responsible for filing of annual returns with govt authorities of India
• Preparation of audit program & audit planning for banks & insurance and medium sized manufacturing companies.
• Involved in Bank audits - Statuary audits, Leakage audits and concurrent audits
• Statutory & Internal audit of banks and manufacturing industries.
• Preparation of annual reports for Board meeting.
• Corporate audit assignments for various clients e.g. operational audit, Internal audit & statutory audits.
Responsible for o Preparation of financial statements for Hotel Division ( Short Term) . o Preparation of cash flow statement and reporting on daily movement of funds. Accounts Payable and utility Payments Ensure correct accounting codes before Batch approval in JD Edwards Checking the accuracy of Daily postings of Hotel activities to ED Edwards from Opera (HMS) Bank Reconciliation for Credit card postings and online funds transfer Coordinating with auditors for annual closing of accounts. Preparation of Revenue & Expenses and Consolidated Budgets Supervision of WPS System ( Payroll Management