Sr. Manager Finance & Accounts
Krishna International Fzco
Total years of experience :22 years, 9 Months
Krishna International Group is a leading distribution and fulfilment partner for global mobile device brands (Samsung, Sony & Nokia), head quartered in Dubai with direct presence in over 20 SBU’s spread in various different countries (Middle East, Africa, Central Asia, Europe & United States) and Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate.
Aug’13-Apr’14 with Xage Communication India Pvt. Ltd., as Sr. Manager-Finance & Accounts being joint venture associate company of Krishna International FZCO.
Preparation & reporting of MIS including performance reports, annual budget, variance analysis, budgetary control and Turnover report in reference to customer/region/brand wise.
Prepare weekly revenue reporting relates to sales, allocated cost and focussing on gross margin.
Formulate inventory report focussing on stock accumulated and ageing stock movement by SBU’s.
Consolidation of SBU’s data and presenting monthly/quarterly/annually Financial Statements.
Supervise/Strengthen the Finance & Accounts department to oversee work of worldwide branches.
Reporting overheads to functional heads on monthly basis and performing variance analysis.
Internal checks on the functions of the organisation to prevent malfunctioning, falsification of records and attaining more profitability by permitting DPN (Deal Profitability Note)
Oversee the operations of the treasury department, where by meeting the needs of SBU’s capital requirement and reducing external sourcing of funds (LC’s/TR’s/OD’s etc.)
Developed and implemented improved processes for monthly closures and reporting cycles, resulting in an overall 30% reduction in stipulated closure time.
On deputation for an International assignment entrusted to ensure control over the Financial & Accounting Operations for Thomas Cook (Mauritius) Operations Co. Ltd. (a subsidiary of TCIL) and report to Executive Finance Director for any flaws found along with create, implement, standardize and monitor optimum work processes in order to drive best practices implementation across the group.
Manager Accounts & Finance (in Mauritius)
Preparation of weekly / monthly / quarterly / Annual MIS and present to India Operations.
Profitability analysis vis-à-vis currency holding, product sustainability across all branches of region.
Monthly reconciliation for all the Foreign Currency Bank Accounts and Revaluation.
Structured Operational Analytics focussing on future requirement of Working Capital, Open or unhedged position in each currency, Surplus Cash holding as compared to norms & likely loss of interest on account of it & measuring over exposure and then resolving the underperformance.
Reporting and providing feedback to top management on highlights and areas of concern; assisting the management for decision-making by providing required data.
Streamlining and automation of Accounting processes and Management Information Systems
Manager Compliance (Functioning as Internal Auditor in Mauritius)
Develop and implement a comprehensive risk based audit programme for evaluation of management controls, risk reduction and quality improvement.
Prepare critical summary reports and document the results of audits performed, obtain management comments and present findings to the Board Audit & Risk Committee.
Solely accountable to communicate and discuss any matter arising with the Bank of Mauritius.
Ensure processes and systems are aligned to policies, procedures, laws and regulations.
Proven experience of developing, interpreting and applying Anti Money Laundering policy.
Analyse company policies, procedures, and practices to identify opportunities to achieve maximum productivity and profitability while maintaining a strong internal control environment by identifying fraudulent activities, opportunities for cost saving and stoppage of revenue leakages.
Prepare the financial reports, direct investment activities, and apply cash management strategies.
Supervise accounts, conduct audit and look into the statements, balance sheets to analyze them.
Minimized the business risks and losses resulting out of financial transactions.
Responsible for framing any financial strategies of the Company.
Dealt with Import procedures & Export Documentations along with customs clearance procedures.
Controlling Purchases, Inventory and other Commercial areas.
Strategically develop and manage all of the subsidiaries accounts across a variety of verticals.
Periodic preparation of Financial and Management Accounts, Cash Flow projection and regular budgeting using “Sage line 50” for all the subsidiaries.
Liaise with the Councils & Local Authorities, business banker and external agencies.
Detailed variance analysis, and comparing against growth plans to be discussed with the M.D.
Develop complex financial reports for forecasting, trending, and results analysis.
Supervise corporate accountant and resolve any matters arising along with shortfall in funding.
Ensure reliability and integrity of internal processes, systems for the beverages and restaurant business and managing smooth functioning of the trading business.
Coordinate, develop and update written policies and procedures over the financial reporting process.
Responsible to prepare cost projections and monthly management report with accompanying schedules to be discussed with the Management.
Lead and overview of the accounts ledger, accounts receivable, account payable, expense booking, payments and banking formalities.
Managing all the required Service tax & VAT formalities including Service Tax Audits.
Responsible to liaise with the auditor and complete all the audit related formalities.
Corrected/Modified the prevailing practice of interpreting service tax and get refunded the tax already paid for past two years by handling service tax audit appeared in front of service tax Commissioner and thus also prevented future cash outflow of tax.
Underwent CA Mandatory Training for a period of 3 years.
Responsible for preparation of financial statement and express opinion thereon based on various audit procedures.
Reported on the clients accounting and internal control systems and conduct special assignment of various nature.
Provide complete end to end income tax services to the client.
Advice on Taxation issues (Service Tax, VAT etc.) and performing Tax audits.
Participated in several Statutory and Internal Audits of large and small manufacturing, Packaging, Pharmaceuticals, trading and service organizations such as:
Audit clients handled: Industry
JMC Projects (India) Ltd Construction & Contracting
Ashapura Minechem Ltd., JMC Mining & Quarries Ltd. Mining/Minerals
Hester Pharmaceuticals Ltd., Apex Formulations Pvt. Ltd. Pharmaceuticals
Interface Financial Services Ltd. Finance & Investments
Others FMCG, Food & Beverages
Association of Chartered Certified Accountants [ACCA] from London School of Accountancy & Management, United Kingdom. Specialized in U.K. based Advanced Taxation and Advanced Audit & Assurance.
• Diploma in Banking from Ahmedabad Management Association in the year 2006.
• Master's degrees in Accounting from University of Gujarat in the year 2003.
Intermediate C.A. from The Institute of Chartered Accountants of India in the year 2002.