Executive - Budget & Costing
Opsonin Pharma Limited
Total years of experience :15 years, 11 Months
• Perform ABC costing and contribution margin approach in product costing
• Provide key financial data within the company, ensuring that managers receive timely, accurate and relevant information
• Supervise a team for product costing and cost of goods sold statement
• Prepare capital expenditure budgets and assist in the preparation of operating budgets
• Participate in developing long-term plans and financial models to improve planning and budgeting
• Review performance against budgets and prepare variation, control and statistical reports
• Monitor material valuation, receive, issue, price and quantity and variance journal, variance analysis, product profitability analysis (PPA), customer profitability analysis (CPA).
• Prepare monthly cost statement, income and expenditure statement, departmental budget, bank reconciliation statement, fund flow statement, income statement, balance sheet and related schedules as per IAS/IFRS
• Develop, manage and coach staff and team members in the budget and costing department
• Liaise with external service providers for working capital issues
• Report financial analysis to strategic management level with graphically.
Achievements:
• Championed the implementation of automated product costing software, Oracle Customized ERP Software.
• Innovate in developing in house made oracle ERP software for accounts module and ABC Costing method and contribution margin approach.
• Assisted in the development of management reporting systems and accounting methods to improve existing procedures and the communication of management information
• Prepared financial disclosures and financial statements for annual reports including profit and loss accounts, budgets, cash flows, variance analysis and commentaries and provide annual audit working papers
• Prepared Revex and Capex budget, pricing for Cargo and Charter Services, chart of accounts (COA) Revenue collection, bank reconciliation statement
• Provided a support service by working with all departments and the management team to help make financial decisions;
• Analyzed financial performance and contributing to medium and long-term business planning/forecasts;
• Interpreted and communicated financial data to non-financial managers
• Liaised with other function managers to put the finances and accounts in context;
• Ensured smooth operation with domestic & foreign suppliers
Achievements:
• Accelerated promotion from Team Member to Team Manager at Arirang Aviation Ltd, a concern of Youngone Group.
• Accounts & Finance dept. was introduced at Arirang Aviation Ltd by me.
• Established Communication with suppliers to ensure prompt delivery.
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• Received, prepared, checked business documents as standard, bills, provision creation debit note creation, adjusting journal
• Helped to produce year-end financial accounts.
• Liaising with the company's auditors.
• Completed complex bank account reconciliations.
• Maintained journal ( cash, bank, T.T ) & ledger ( cash & subsidiary ), daily voucher, journal slip & other day transactions, financial data in SAP & production of accounting report
• Deducted of suppliers, employees’ & professional tax at source, VAT at source and depositing tax & VAT to the respective authority.
• Monitored party ledger, payment schedule and Petty Cash.
Achievements:
• Awarded for excellent communication with co-colleagues and fellow management
• On time reporting and maintained accounts payable