Majid Alsuwaidi

Part Time Accounting Teacher

Focal point between Head Office & company Plant operation in term of monitering operational and capital expenses.

Supervised 120 employees

• Supervised 4 collectors & 6 cashiers + managed daily collection process (Revenue Cycle).
• Recorded daily Paid Parking Section earning transactions, such as earning from sale of parking permits (Short & Long term - public & private) in addition to parking fines collection, using customized accounting system over Oracle 10g platform.
• Prepared monthly & annual balance sheet, profit and loss statement, and cash flow reports.
• Participated in the preparation, evaluation, justification, and maintenance of Paid Parking Section 70 million dirham annual budget and exercised budgetary controls.
• Reviewed and approved all payment transactions: petty cash, reimbursements, payments on accounts, vouchers, checks, etc.
• Preformed reconciliations before running the Oracle enquiry to close the period (monthly and yearly) in order to close the accounts.
• Overseen the operations of all Paid Parking Section accounting functions including: Accounts Payable, Accounts Receivable, Cash Flow Requirements, Fixed Assets, Payroll, Month end accruals and provisions and ensure that these are maintained in accordance with the International Public Sector Accounting Standards (IPSAS).
• Contributed in reengineering parking permits issuance process which increased sales by 150% after implementation
• Increased fine collection revenue exponentially by recommending the collection of fine payments during renewal process, instead of leaving fine collection to vehicle registration department
• Created efficiencies in collection process and better organization of automated filing system by developing an identification system that linked each vehicle owner with a unique serial number
• Demonstrated exceptional organizational and planning skills, coupled with strong administrative and interpersonal abilities, which collectively led to my promotion to run customer service unit in addition to supervisory of collections.

My responsibility was to assess the dirham amount of Foreign Direct Investment in the United Arab Emirates. I was responsible for Sharjah City and I had over 130 company under my profile. I was visiting companies, examining their financial reports, interviewing financial manager and owners looking for any evidence of FDI either in equity or loans.

Despite the fact that my pay very law and job was temporal, I successfully completed training provided by United Nations Conference of Trade and Development (UNCTAD) to understand how to investigate financial statements to uncover Foreign Direct Investments (FDI) made in Sharjah City, U.A.E. I also developed strong analytical and critical thinking skills by analyzing hundreds of financial statements of foreign companies, to detect signs of Foreign Direct Investment. I gained strong understanding of business operations for different types of companies by interviewing many Owners, Presidents, General Managers, and Financial Managers.

The project was conducted in association between the Ministry of Economy and United Nations Conference of Trade and Development (UNCTAD). It was for the first time in U.A.E and they needed accountants to run the program and just for one year period. I did not look at the financial side but the experience that would get out of it in participating in such program.

After coming back for the United states in 1997, I had to look over my family investment. I was responsible for assessing profitable future opportunities as well as managing current investment. The reason behind me leaving my family business is that I though about having an independent way of doing things.