Assistant Manager - Finance & Accounts
L&T Hydrocarbon Saudi Company
Total des années d'expérience :11 years, 11 Mois
Development and monitoring of annual, and quarterly budgets for all projects in coordination
with project managers and cost accountants
b. Analysis of target profit margin and application of contingency provision as per developed
written company policy
c. Final review of budget before uploading to Oracle Hyperion for Parent review and approval
d. Monthly analysis of variances between actual and budget and coordination with project and
cost accountants and raising of red flags (Costs and expenses overspending) with Finance
Head
e. Communication with project managers whether percentage of completion is according to
approved timelines
f. Preparation of revenue recognized report and analysis of billings whether to be reported as
due from (revenue recognized more than billings) or due to customer (billings in excess of
revenue recognized)
g. Overhead allocation for non-project (common) expenditures as per approved allocation basis
h. IFRS 16 schedule preparation, recording and maintenance
i. Maintenance of actual and expected cash flow
j. Hedging transactions and OCI schedule maintenance
k. Related party transactions and balances reconciliation
l. Overall consolidation of project profit and loss and preparation of financial statements
m. Review of compliance matters such as: Zakat and tax return, monthly and annual withholding
tax return, monthly vat return. Additionally, reconciliation of zakat and tax schedules, prior
submission to tax auditors (KPMG)
n. Daily tasks of maintenance client billing and outstanding report
o. Direct point person to external auditors (PKF) and direct and indirect tax consultant (KPMG)
p. Monitoring of accounts to check whether the material/service requester selected appropriate
GL account
Develop, implement and monitor annual budgets for all departments in conjunction with the relevant department heads.
Prepares the budget calendar and plans budget process.
Compiles budget and capital project information.
Prepares budgets for grants and regular review of grant’s budget, revenue, and expenditure analysis.
Coordinates with various heads of departments to ensure the implementation of the budgeting exercise.
Provide management with regular reports on progress towards targets, flagging variations and performing initial checks on reasons for under/over achievement.
Analyzes complex issues relating to the budget and financial operations.
Provide timely and accurate information to the external and internal auditors as and when required.
Overseeing and analyzing the creation, control and implementation of budgeting, forecasting allocation, consolidation of all branches performance
Recommends policies and procedures for budgetary and accounting processes.
Ensure that relevant reports are prepared and presented to management on time to enable them to monitor business performance closely and taking timely corrective actions.
Provide inputs in developing/ creating the Key Performance Indicators (KPIs), for performance monitoring and quality measurement purposes pertaining to personnel responsible for Budgeting & Reporting within Financial Control and monitor their achievements on periodic basis.
Overseeing analysis and deployment of the latest budgeting/ forecasting tools
Prepares interim budget reports for presentation in paper and electronic formats.
Prepares final budget for adoption.
Ensures budget is in compliance with policies and statutes in conjunction with the Finance Manager.
Analyzes the budget during the year and reports on budget status and condition.
Develop/enhance budgeting and forecasting techniques and maintain budgeting and forecasting standards for all the branches
Prepares and presents budget amendments and other entries.
Prepare and analyze financial status with a focus on cost-benefit analysis
Prepare analysis reports, models and forecasting
Review budget requests with management to determine areas to reduce and expand
Track and review all expenditures, reimbursements and expenses for comparison against budgets and develop reports to determine if budget goals are met
Maintain database of monthly financial analysis reports and budget modifications
Analyzed business combinations made by company and used applicable IFRS standards
Maintenance of IFRS 16 lease schedule including all analysis of applicable journal entries
Preparation and posting of the consolidation requirements ensuring that they are regularly reviewed, adequate back-up is maintained on file
Recommended design and effectiveness of finance team’s operational controls
Monthly analysis of variances against budget and previous periods actuals
Conducted a differential analysis on outsourcing logistics services
Performance of Ad-Hoc requests
External audit and zakat/income tax clients:
Preparation of audit timetable assigned to every client.
Plans and conducts comprehensive financial audits.
Attending an audit client with minimum supervision of the audit manager.
Attending client to check and reconcile to ensure that financial information is accurate and true.
Performs tests of controls and substantive testing.
Identify and communicate accounting and auditing matters to immediate superior.
Preparation of provided by the client (PBC) lists and confirmation requests.
Ensure proper documentation of audit working papers including its cross-references.
Preparation and computation of Income-tax and Zakat schedule for client management review.
Creating a management letter and audit recommendations based on the audit findings and communicating with the client’s management.
Preparation of zakat and income tax declaration
Registering and updating clients for the new DZIT system
Uploading zakat and income tax declaration online
Coordination with clients up to the issuance of zakat certificate
On-call assistance to clients for the VAT filing
Performed IFRS conversion to clients by helping clients to prepare GAP analysis and the Saudi GAAP to IFRS reconciliation
Internal Audit Clients:
Performance of operational and compliance reviews of operations and finance & accounting functions
Documentation of processes for improving internal controls, operating efficiency, and the adequacy of records and recordkeeping.
Preparation of documents narratives, process flows, risk/control matrices for existing processes.
Identification of process improvement for greater financial control and efficiency.
Examination of process owners’ compliance with corporate policies and procedures, and communicate such findings to management.
Develop recommendations based on audit findings and drafting of reports for management’s review and approval.
Accounting and Bookkeeping Clients:
Preparation of general ledger entries and appropriate reconciliations for month-end, quarterly and year-end closing for clients.
Preparation of trial balance and financial statements
Identification of areas for possible improvements (i.e., on the financial structure of the entity or to the client business processes) and communicating recommendations through financial reports.
Review of the company’s tax and zakat compliance with analyses to statutes, zakat and income tax laws.
Direction and supervision of activities of client’s other accountants and clerical workers performing accounting and bookkeeping tasks.
Agreed-upon Clients:
Perform procedures based on an agreement made from the client and the firm
Performed assertion and investigation of embezzled receivables
Performed procedures to test the accuracy and reasonableness of the related party transactions
Provides financial information to management by researching and analyzing accounting data; preparing reports.
Prepares asset, liability, and capital account entries by compiling and analyzing account information.
Documents financial transactions by entering account information.
Recommends financial actions by analyzing accounting options.
Summarizes current financial status by collecting information; preparing a balance sheet, profit and loss statement, and other reports.
Substantiates financial transactions by auditing documents.
Maintains accounting controls by preparing and recommending policies and procedures.
Guides accounting clerical staff by coordinating activities and answering questions.
Reconciles financial discrepancies by collecting and analyzing account information.
Secures financial information by completing database backups.
Maintains financial security by following internal controls.
Prepares payments by verifying documentation, and requesting disbursements.
Answers accounting procedure questions by researching and interpreting accounting policy and regulations.
Complies with federal, state, and local financial legal requirements by studying existing and new legislation, enforcing adherence to requirements, and advising management on needed actions.
Prepares special financial reports by collecting, analyzing, and summarizing account information and trends.
Maintains customer confidence and protects operations by keeping financial information confidential.
Preparation of Checklist for each client
Analysis of the following accounts:
a. Property and equipment
b. Other assets
c. Other liabilities
d. Trust receipt and acceptance payable
e. Notes payable
f. Long-term debt
g. Investment accounts
Excerpt of minutes and contracts
Examination of Stockholders’ Equity accounts
Performance of necessary procedures for the verification of all accounts related to cash.
Physical inventory observation
Personal follow-up of bank confirmation requests
Re-computation of pre-payments and accruals
Preparation of lapsing schedule, if necessary
Review of the correctness of depreciation charges
Footings of working papers
Verification of various schedules submitted by clients
Preparation of financial statements
Preparation of Income tax returns
Preparation General Information Sheet for Securities & Exchange Commission.
Preparation of Review of Overhead Cost Pool and Fringe Benefits.
Performed tax planning on how to minimize the tax due to the clients.
Member of Accounting Quiz Bee team and became a champion during 2011 conference. Dean's lister for 2 consecutive semesters
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