ماجد سعيد

Major areas of contribution;

• Manage accounting functions including maintenance of general ledger, Accounts Payable
Treasury function, Insurance, Fixed Assets, Withholding Tax and Company’s Zakat Return File.
• Leads a team of 8 professional accountants with the responsibility for the accurate and timely production of daily transaction and monthly closing activity.
• Managing and developing a successful Finance Team.
• Managing finances in a complex, multidiscipline environment requiring interaction and collaboration with various internal and external stakeholders.

• Preparation of consolidated financial reports, including Profit and Loss Statement, Balance
Sheet, Statement of Cash flow and changing in Equity each quarter as well year end closing
• Manages analyses of entries, transactions and accounts having impact on the financial statements for accuracy and prepares/reviews accrual or adjusting entries.
• Updating and developing policies and procedures as needed, to ensure the adequacy of accounting controls to permit preparation of financial statements in accordance with IFRS.
• Manages the auditing of contract invoices for compliance with contract terms and regulations.
• Works with external auditors during the audit process. Facilitate, plan and schedule key audit meetings to ensure producing the audited Comprehensive quarterly and Annual Financial Report.
• Managing Company’s zakat return file, prepare expenses analysis & all Zakat required schedules
• Review VAT Return and ensure company’s compliance with the Saudi Arabian accounting and reporting requirements.
• Oversee the General Accounting processes of our subsidiary in Egypt
• Conduct benchmark studies of banks with the evaluation of the provided services
• Evaluate alternative long-term borrowing strategies and make recommendations in accordance with the capital structure guidelines
• Prepare risk management & insurance budgets and allocate claim costs and premiums to Departments and divisions
• Review FA schedules & prepare consolidated list of Fixed assets ( KSA and Egypt Subsidiary)
• Monitor CWIP and conduct meeting with relative department to trace completion of project cost
• Monitor expenditure for FA in comparison to the capital budget and management authorization

• IFRS: Lead and successfully assisted and completed the complete IFRS conversion process at Sunbulah including the Diagnostic, Quantification and FS skeleton preparation followed by cut over procedure and migration of accounts from local GAAP to IFRS in SAP.

• S4HANA: Lead and successfully assisted configuration and implementation from SAP TO S4 HANA system

• Treasury: Significant Improvement in company cash flow in three way via Payables & receivables and Inventory. In addition to implement debt restructure which reflect to improve company liquidity /equity ratio.

• Manages AP. Includes, Vendor Relations, and the AP disbursement group which handles all check disbursements,
• Develops, implements and maintains systems, procedures and policies for payable functions to ensure adherence to company guidelines.
• Ensure timely and accurate processing of all vendor, intercompany and employee payments
• Ensure Quarterly suppliers reconciliation and solve the discrepancies timely
• Manage general and credit insurance activity, ensure healthy and proper policies in terms of obtaining best condition and rates.
• Conduct meeting with Insurance Company to ensure that claims are being settled fairly, consistently, and in the best interest of the entity.
• Providing support, education and training to staff to build risk awareness within the organization.
• Manages cash management function including funds transfers, monitoring of cash and investment balances and assists in investment process.
• Review bank reconciliation and ensure accuracy and clear outstanding items
Insurance: Approach for Insurance bidding and obtaining Insurance company offers & which reflect to get the best rates and terms of insurance policies as well revisit the total sum insured which led to reduce Insurance cost

handle the complete account departments GL - AP - AR - Inventory - FA - Treasury with 2
Accountants reported to me

• Establish financial Accounting Cycle
• Fixed Assets count and maintain accurate accounting

Senior Accounts Receivables from 2001 till 2007

Tax Accountant form 1998 till 2000


• Prepare customer statements, bills and invoices
• Calculate and post receipts to appropriate general ledger accounts and verify details of transactions, such as funds received and total account balances
• Work with collections personnel to verify status of delinquent accounts and solicit payments on overdue accounts
• Manage withholding Tax activity including booking and prepare quarterly return with payment
• Prepare required documents for Tax representative during revision