M Umar Azam, Senior Accountant

M Umar Azam

Senior Accountant

Mustafa Furnishing Industries FZC

Location
United Arab Emirates - Sharjah
Education
Master's degree, Finance and Audit
Experience
11 years, 6 Months

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Work Experience

Total years of experience :11 years, 6 Months

Senior Accountant at Mustafa Furnishing Industries FZC
  • United Arab Emirates - Sharjah
  • My current job since March 2016

Mustafa Furnishing Industries group of companies is one of the well known furniture and carpet manufacturing & retail concern of U.A.E.
My Job duties here include:
-Performing Inter Company Reconciliations. Mainly of parent company and its carpet manufacturing subsidiary.
-Bank Reconciliations.
-Receivables Management.
-Assisting Chief Accountant in preparation of Monthly, Quarterly and Yearly Financial Statements, Budgets and Forecasts.
-Local Bill Discounting (LBD) & PDCs management.
-Assisting manager finance With L.Cs documentation and management.
HighLights:
-Participated in Internal control improvement and
implementation process.
- Devised System for tracking of PDCs and LBD
Cheques effectively and efficiently.
- Replaced Obsolete system of closing process and
improved the process by 2 days!
- Participated and conducted in-house training
sessions.

Accounts Executive at Luxurion Developers
  • Pakistan - Lahore
  • October 2014 to November 2015

Luxurion Developers, a startup company engaged in real estate development and construction industry. There I was responsible to build accounts department from scratch and for implementation of internal controls and corporate governance.
My on job responsibilities included to:
-Recommend financial actions by analyzing accounting options.
- Assist in summarizing current financial status by collecting information; preparing balance sheet, profit and loss statement, and other reports.
- Substantiate financial transactions by auditing documents.
- Maintain accounting controls by preparing and recommending corporate governance policies and procedures.
- Guide accounting clerical staff by coordinating activities and answering questions.
- Reconcile financial discrepancies by collecting and analyzing account information.
- Filing of Monthly GST (VAT) Tax Returns at FBR online portal.
Highlights:
- Acted as liaison point between company and Bespoke ERP implementation team.
- Introduced and implemented Internal controls and corporate governance policies and procedures.
- Conducted in house Training sessions.

Audit Associate at Arshad Raheem & Co. Yousaf Islam Associates
  • Pakistan - Lahore
  • August 2012 to September 2014

- Liaison at various levels of client personnel including top management to maintain cooperative relationships. Participating in the initial planning and closing meetings.
- Identification of business risks and financial statement risk areas and developing a strategy to address these.
- Performing combined risk assessment considering inherent and control risk.
- Designing audit programs for test of controls and substantive procedures.
- Ensuring that the financial statements prepared by the client are in accordance with the International Financial Reporting Standards (IFRS) and all applicable local laws and regulations.
- Encourage teamwork and develop people by encouraging individuals to think for themselves and take responsibility for their contribution to team and sharing knowledge with team to enhance service quality.
- Preparation of other deliverables, such as management letter identifying internal control weaknesses, business improvement opportunities, legal non compliance and accounting system deficiencies, their resultant risks and suggestions to improve.
- Understanding and documentation of control environment and accounting system.
- Performing the walk through and test of controls highlighting the issues/ matters.
- Performing substantive procedures including analytical procedures (Ratio analysis, trend analysis, horizontal and vertical analysis, industry comparisons, business performance over the years) and test of details highlighting the issues/ matters.

Education

Master's degree, Finance and Audit
  • at Skans
  • August 2014

This refers to equivalence of Acca Qualification to Masters as per rules of United Kingdom.

Master's degree, Finance and Auditing
  • at Association of Chartered Certified Accountant (U.K)
  • August 2014

I completed my ACCA qualification in 2014, and in March 2016 became member of the esteemed global body of professional Accountants.

Higher diploma, Accounting and Audit
  • at Skans
  • August 2006

This refers to my C.A.T Certificate

Bayt Tests

Financial Forecasting Test
Score 98%

Specialties & Skills

Financial Analysis
Financial Reporting
Accounting
Auditing
Cost Accounting
Financial Analysis
ACCOUNTANCY
AUDITING
DOCUMENTATION
PROFIT AND LOSS
International Accounting Standards
Financial Reporting

Languages

English
Intermediate
Urdu
Expert

Memberships

Association of Chartered Certified Accountants
  • Member
  • February 2016

Training and Certifications

Accounting Fundamentals (Certificate)
Date Attended:
August 2018
Time Management Certification (Certificate)
Accounting Fundamentals Certification (Certificate)
English Language Course (Certificate)
Date Attended:
May 2009
Valid Until:
January 9999

Hobbies

  • Travelling
  • Football
    I Play as mid-fielder in my local area team.
  • Reading
    I like to read books, mainly relating to my field of accounting and finance.