Senior Accountant
ON THE WOOD RESTAURANT GROUP
Total years of experience :12 years, 6 Months
On The Wood Restaurant is Company engaged in restaurant business consisting branches & franchises
operating in UAE & Oman.
Duties and Responsibilities:
Preparing monthly MIS reports for the board members along with the performance analysis for
each company outlet.
Reviewing & reconciling monthly sales.
Reviewing Production cost for all companies on monthly basis with the cost controller and
providing analysis with suggestions on areas to reduce wastage and variance.
Reviewing and approving entries related to stock, supplier payments, petty cash entries and
journal entries in the company accounting systems.
Preparing annual budget for the company and monitoring Budget VS Actual on a monthly basis to
identify areas of improvement, including corrective actions to address adverse performance and
steps to control negative variance to the board members.
Ensuring that the payment of invoices is completed within a timely manner and in accordance with
payment terms.
Review the reconciliations of bank accounts and general ledger on a periodic basis.
Generating reports for top management summarizing the business financial position in areas of
income, expenses, capital usage and cash flows, and coordinate the preparation of strategic plans
and financial forecast.
Prepare debtors listings & constantly follow up for payments
Assist in periodic stock counts and its valuation identifying and managing slow moving inventory
Ensuring all company’s contracts with suppliers and customers, internal circular, payroll records
and minutes of meetings are kept up to date.
Assist auditors during the interim and final audit of the company
Duties and Responsibilities:
• Experienced in controlling debtors/creditors, aging analysis and reporting to the management.
• Designed and implemented internal policies and process controls to improve control environment.
• Analyzed revenue, cost of sales, gross profit, and each division performance.
• Tested and reviewed VAT calculations and returns of KSA and UAE branches.
• I manage insurance processes and procedures of the 6 UAE branches. In this role I mainly:
• Reviewed and analyzed, credit clients to determine the credit worthiness and decided on the
coverage limit under insurance.
• Reported to management with the key issues i-e legal, market risk and compliance issues.
• Made recommendations about procedural/policy changes.
• Performed and controlled the full audit cycle including risk management and control management
over operations’ effectiveness, and compliance with all applicable directives and regulations
Monthly Closing:
Reviewed books of accounts to ensure that:
• All expenses, banking transactions, provision on doubtful debts/inventory, and accruals are booked as
per company policy and proper general ledger/cost centers are charged.
• Bank ledgers, customers, and suppliers accounts are reconciled.
• PDCs are recorded properly and deposited in the bank on time.
• All sales invoices for the month are approved and issued, and Purchases for the month are recorded
properly to have accurate effect on the costing and inventory quantity.
• All the unusual items in TB are identified and resolved.
Coordinated financial activities encompassing Chart of Accounts to finalization and reporting for presenting accurate financial health of the organization. Adhered to IAS, IFRS and other accepted policies and procedures in preparing, maintaining various financial statements. Doing this whilst supervising, directing & motivating teams of multi-discipline contractors, associate partners & employees.
Duties and Responsibilities:
•Handle full spectrum of financial and cost accounting role e.g. AR, AP, GL, budgeting etc.
•I am responsible of preparing Monthly Profit and Loss statement and generate variance reports as per the monthly budget.
•Responsible for timely monthly consolidated financial statements, payments, cash-flow management reporting for submission to Head quarters.
•Perform cash flow forecasting, budgeting and working closely with the operations and project teams in analyzing margins, variances and cost analysis.
•I have developed and maintained internal control and effective accounting system and policies for the company.
•Support General Manager in ensuring that intercompany cost allocations are in line with management agreements and maintain systems for cost-sensitivity analysis and early-warning of cost-overruns
•Work consultatively with the respective departments on cost reduction initiatives
•Reviewing & scrutinizing of invoices and ensuring finance policy is met before processing so as to avoid any errors
•Ensuring that the payment of invoices is completed within a timely manner and in accordance with payment terms.
•Review the reconciliations of bank accounts and general ledger on a periodic basis.
•Generating reports for top management summarizing the business financial position in areas of income, expenses, capital usage and cash flows, and coordinate the preparation of strategic plans and financial forecast.
•Review and make decisions on credit limits of new and existing customers.
•Dealing with the Banks directly and obtain the facilities for the company.
Preparation and sending month end financials and all statutory reports to Director General Finance such as Balance
Sheet, Profit and Loss Account, accruals list, prepayment, inventory movements, cash flow projects and ratio
analysis
Duties and Responsibilities
•Ensuring timely completion & reporting of MIS reports as per department’s SOP
•Preparing Profit & Loss Statements, cash flow statements & balance sheet for higher management.
•Liaison with bank personals for pledging and de-pledging of sugar bags and reconciliation of prevailing rates on daily basis.
•Updating of bank reconciliation statement on a monthly basis.
•Check and update all vendors’ invoices after approval in Company’s ERP system.
•Matching supplier’s statement with their contracts, preparation of suppliers ageing report and reconciliation of accounts.
•Prepare debtors listings & constantly follow up for payments
•Assist in periodic stock counts and its valuation identifying and managing slow moving inventory
•Ensuring all company’s contracts with suppliers and customers, internal circular, payroll records and minutes of meetings are kept up to date.
•Assist auditors during the interim and final audit of the company.
•Preparation of Bank reconciliation statement on monthly basis
•Post all Journal Voucher (JV) entries passed /approved in the ERP system.
•Maintain the fixed asset ledger accurately with proper identification numbers.
•Dealing with debit and penalty notes in respect to vendor rejections etc
•Preparation of payment for supplier and vendors
•Reconciliation of Supplier and vendors account with their statement of account
•Ensuring internal controls on various transactions insuring company policies and procedures are followed and facilitating control management
•Assist in preparation of payroll and end of service benefits in accordance with guidelines, internal policies and procedures and regulatory law