Finance Officer
Al-Mumtaz Tents
مجموع سنوات الخبرة :5 years, 1 أشهر
Responsible for the budget, estimation, accounting and reporting P&L for projects in UAE and GCC.
Monitors project progress by tracking activity, resolving problems, publishing progress report and recommending actions.
Assist Operation Manager in working capital management (Inventory, receivables, credit control and payables) and directing a team of supply chain/logistics personals by assigning and dividing roles and tasks according to the projects.
Maintain pricing policy for inter-company and outside customer orders.
Ensure that invoice preparation and delivery process are reviewed and improved to ensure accuracy and timeliness of invoicing.
Weekly review of general ledger to accounts receivables and accounts payable balance, trends analysis, process improvement, daily cash and Bank reconciliation.
Monitor Accounts department for timely recording of purchases and expenses related to the projects.
Prepare monthly Financial Reports to the CFO including Financial KPI’s.
Keep tight control on inventory by verifying documents related to the issuance of raw material from warehouse to the production department.
Receive, register and verify that all the invoices related to projects, material, and services are cross verified with purchase orders and contracts to ensure they are complete, accurate and in compliance with the laid down policies and procedures.
Monitor timely arrangement of payments, bank transfer, ensure payments are properly supported and authorized.
Assist in preparing Forecast and Budget by analyzing historical data and certain future requirements, also performed sensitivity analysis to measure the impact of changes in variables.
Responsible for year-end closing (completing customer invoices, accrue revenue and expenses, calculating depreciation, physical inventory count, valuing ending inventory, commission owed to sales staff, complete Financial Statements etc.).
Implement internal financial and accounting policies and procedures to ensure appropriate systems and internal controls are maintained.
Performing Value for Money and integrated audits of the company’s operations.
Review and evaluates control structures to determine the adequacy of internal controls and operating efficiency.
Undertake focused analyses on performance related to profitability and ongoing cost reviews.
Liaise with the auditors in the annual audit to ensure audits are handled effectively and discuss the key areas for improvements and recommendations.
Key Achievements:
Carried out variance analyses for each product line, the results lead to the establishment of standard Bill of Materials to control the inventory and cost of every item to be manufactured.
Identified Economic order quantity and re-order levels in relation to the annual demand to prevent stock out.
Reintroduced the treasury management system to support the running projects and designed controls over petty cash expenses approval.
Prepare income statements, balance sheets, cash flow statements, variance analyses, ratio analyses, management financial reports, and provides management with insights related to significant transactions affecting the financial statements.
Perform sensitivity analysis to assess the impact of factors such as volume and growth fluctuations in cost.
Working on different feasibilities to reduce cost of operations.
Assemble spreadsheets and draw charts and graphs used to illustrate reports for different regions.
Monitoring Receivables, payables function including bank reconciliation and petty cash etc.
Monitoring credit control policy and its effect on profitability, assessing creditworthiness of new customers.
Assessing individual accounts receivables using a customer history analysis and a credit rating system.
Monitoring overall level of accounts receivables using an aged accounts receivable listing and credit utilization report, as well as the reports on the level of bad debts.
Analyse financial information to produce forecasts of business.
Support Financial Manager in preparing P&L and cash flow projections for the coming season and projects.
Studying the previous budget and also taking into consideration the benefits and losses occurred during the previous financial years, due to budget planning.
Analyzing the actual results against budget performances and forecast.
Conducting Financial and operational audit within the organization as per audit schedule to carry out an appraisal of the effectiveness of the policies, procedures, and standards.
Assembling and reviewing the notes and schedules of financial statements providing detailed understanding to facilitate auditors for cross checking information reflecting in the books of the accounts, as well as providing simplified understanding to non-finance related management personnel.
Oversee and review the reconciliation of all relevant ledger accounts in order to ensure all accruals and adjustment entries have been passed correctly.
Ensure the system of records and accounts are properly maintained.
Verify that transactions comply with financial policies and procedures and contract terms.
Liaise on day to day basis with the sales team in Punjab province for new orders and payments recovery from customers.
Engage the warehouse team to sort out the inventory for orders to be delivered.
Planning for the logistical support by calculating the weight per order.
Ensure that invoicing is being done on timely basis and despatched as the inventory leaves the factory.
Matches invoices with purchase orders, receiving reports and check invoices as to quantity, price and extensions.
To follow up with the clients on acceptance of invoice submitted.
Review purchase cycle and analyse the cash flow on a weekly basis.
Prepare analysis and recommendations on monthly financial figures and performance of the region.
Correspond with vendors and respond to inquiries, acts as a liaison between related departments and vendors.
Produce monthly reports and assist in budgeting and forecasting.
Compare actual to budgeted results at the end of reporting period, and report on significant variances.
Responsible for year-end Accounts closing.
Prepare annual financial statements for review and sign off by the external auditor.
Interpret financial and non-financial data of different organizations to assist the financial institutions to help them to set financing limit of different clients.
Preparing the projected financial statements on specific request of individual clients and also for banks.
Assist in consolidating financial statements as per International Standards and International Financial Reporting Standards.
Accepting responsibility and accountability for the audit work performed on assigned projects.
Examining company accounts and financial control systems
Gauging levels of financial risk within organization.
Checking that financial reports and records are accurate and reliable
Ensuring that assets are safeguarded
Verifies assets and liabilities by comparing items to documentation.
Completes audit work papers by documenting audit tests and findings.
Appraises adequacy of internal control systems by completing audit questionnaires.
Communicates audit findings by preparing a final report.
Association of Chartered Certified Accountants - ACCA (UK)