Senior / Chief Accountant
Gargash Real Estate
مجموع سنوات الخبرة :17 years, 1 أشهر
Financial Management, Reporting & Planning :
• Preparation of monthly, quarterly & annual financial statements, in accordance with IFRS (IAS), on each company & a consolidated report on group level for management.
• Timely providing management periodic Financial Accounts, MIS Reporting along with detail analysis of variations in the business activities.
• Preparing the monthly Bank and intercompany Reconciliation Statements.
• Liaising with internal and external auditors for yearend Audits.
• Checking monthly salaries and WPS payments and presenting to management for approval
Budgeting & Financial Analysis:
Preparing periodic budgets considering historical trends and current market situations along with future economic outcomes and present the same to the top management
Budgeting & Financial Analysis:
Preparing periodic budgets considering historical trends and current market situations along with future economic outcomes and present the same to the top management
Accounting & Financial Operations:
Take care of all accounting and Financial side for Real Estate Business *Receiving Rental Contracts from operations and checking its completeness
• Posting Invoices for Real Estate Tenancy Contracts, Booking receipts based on payments received from tenants (PDCs, CDCs, Cash, Bank Transfer)
• Tenant adjustments and calculations i.e. Final Settlements, Early settlements, Non-renewal, cheque replacements, inter unit transfers, bounced cheques.
• Preparing, bad debts and legal cases for defaulted tenants and liaising with legal team for follow-up
• Preparingmonthly financials statements and MIS reporting to the Management.
• Preparation of Budgets and presentations.
• Reviewing customer profiles/ financial position and approving credit limits.
• Coordinating with internal audit team and liaising with external auditors.
• Implementing and ensuring effective internal control system.
• Managing all banks mattersand ensure that hotel funds are deposited on time on daily basis.
• Handling the complete payroll cycle.
• Performing other administrative duties as delegated by the management.
• Greeting and meeting important clients from time to time who visit the management.
• Maintaining staff filesand updating leaves, traveling, visa and salary details with supporting documents.
• Preparing and submitting reports to Municipality Auditors.
• Conducting audits& submitting audited reports to Managing Director on quarterly basis.
• Preparation of actual cash flows and future forecasting.
• Forecastingthe Profit and Loss Accounts, comparison of actual results with budget and performing GP analysis on monthly basis.
• Carrying out inventory count on quarterly basis and surprise counts.
• Calculation of profit in inventory and keeping track of supply chain activities.
• Working on the implementation of a robust financial reporting framework to monitor performance, the flow of funds and adherence to the budget.
• Analyzing, reconciling and finalizing of periodic accounts and statement of financial position.
• Providing guidance to direct reporting staff in the development, preparation and analysis of different reports.
• Reviewing standard and non-standard costs and prepare information for Long termplans
• Coordinating with external auditors and third party advisors and support the year-end financial audit, providing consolidated statutory accounts and audit files as required by external auditors.
• Developing the chart of accounts and supervising the analysis, summarization and maintenance of general ledger accounts.
• Visiting production areas/plant and warehouses to ensure that all activities are carried out according to SOPs.
• Statutory audits which include analysis and reviews of financial statements including cash flow statements of various industry clients. Scope of work, interlay, included ensuring compliance with management policies, identification of weaknesses in the system for potential risks and examining financial statements to ensure compliance with National and International Reporting Frameworks, primarily comprising of International Financial Reporting Standards (IFRSs).
• Internal audits with KPMG approaches. Core responsibilities included planning risk assessments, understanding the business, scoping and assessing the key risks, development and implementation of Improvement Plans.
• Compilation of financial statements in compliance with IFRSs as applicable in Pakistan and Companies Ordinance 1984 while assessing various areas of financial statements such as employee benefits, taxation, foreign currency transactions etc.
• Documentation and review of system documentation and policies which includes preparation of system documentation in the form of Transaction Flow Reviews (TFRs), Policies & Procedures Manuals, Segregation of Duty (SOD) matrices; carrying out detailed risk and control evaluation for significant business processes and development of initiatives/recommendations to rectify any control gaps identified.
• Performance and Technical Audits and includes assessment of effectiveness, efficiency and economy with which resources were utilized.
• Compliance with applicable statutory legislatures including The Companies Ordinance 1984, Code of Corporate Governance, Income Tax Ordinance 2001 etc.
• I also worked in KPMG Tax Department as Senior Associate and have been involved in Income Tax, Sales Tax and Federal Excise and various other assignments i.e. identification of legal issues and assessing the probability of success, representing the clients in Tax Authorities and Tribunals.