Finance & Accounting Manager
Al Shaali Group
Total years of experience :21 years, 0 Months
Duties & Responsibilities for Complete Group:
Reporting to CEO, Chairman & Managing Director - Managing a team of 5 Group Accountants
Responsible for management of all Subsidiaries in the Group for Finances, Accounts, Strategic Financial planning and business risk assessment, Working Capital Management, Cash / Fund Flow Management, Fixed Assets / Payroll Management. Development & Implementation of Corporate Budgets, Accounting Systems / Procedures and bottom line performance.
Adept at reviewing accounting records and other financial reports to assess accuracy, completeness, and conformance with company policies and applicable reporting standards.
Directly supervise and trained finance and accounts staff for Group and its all subsidiaries and providing necessary guidance and instructions to meet deadlines and achieve needed result.
Proficient in interacting with clients, suppliers, banks and all third parties dealing with the company
Take part in developing group policies and procedures; help in continually reviewing and setting up improvements to current processes.
Responsible for Monthly & Annual Accounts finalization and reporting as per company Reporting Rules & International Accounting Standards.
Preparation of Consolidated Group Financial Statement.
Directing all accounting and financial systems development through implementation of internal control and reporting systems to adequately monitor and provide financial insight into business operations.
Key member of the Management team responsible for significant turnaround of business and consistently achieving optimum revenue.
Preparation of Business Plan. Provide seasoned expertise to Business Units in the Planning and Budgeting Process to ensure inclusion of appropriate resources in the Annual Budget to meet financial targets.
Reporting to Directors on monthly basis for various financial and accounting issues after conducting verification of such information such as Bank Reconciliations, Income and Expenses Statements, Variance Reports, Receivable and Payable Reports, Inventory Reports. Etc.
Analyze financial accounts and provide detailed reports of fiscal health of the company to the Senior Management including early warning signals to the Senior Management.
Analyze operating costs to develop and implement cost reduction processes. Identify operational challenges resulting from MIS issues.
Responsible for initiating Cost Control measures, Comparison report on Actual Cost and Budgeted Cost with explaining the reason and solutions for controlling the deviations between actual and standard cost.
Prepare operation reports and assessing effectiveness and efficiencies of the various departments.
Responsible for submission of Financial Statement to Auditors for Group and its all subsidiaries on yearly basis and Liaising with them for Audit Queries.
Verification of Salaries and Wages for all the employees within the Group and its subsidiaries, Checking the over time calculation, deductions, incentives and ensuring the effectiveness of internal control on preparation of salaries and wages procedure.
Duties & Responsibilities for Complete Group:
Reporting to Chief Financial Officer - Managing a team of 3 Group Accountants
Monthly MIS(P&L Accounts, B/S, Budgeting, Cash Flow Forecasts), Liaising with Banks, including credit facilities setups & renewal, according to the Projects Financing requirements.
Accounts Payables - Processing & checking all payments, invoices and payments certificates of Subcontractors/Suppliers.
Accounts Receivables - Updating payments Certificates, statements, invoices Summaries Follow up for payments and clients reconciliation.
GL, Payroll, Provisions and Accruals, Capital Expenditures/Fixed Assets, Insurance & Project Accounting & Working Capital.
Reconcile & Analyze Ledgers of Intercompany accounts, Debtors A/c’s, Creditors A/c’s, Sales & Purchase etc.
Implementation and Review of Company’s Policies, Procedures & Internal Control, Active role in implementation accounting software and Modeling
Assisting to Head of Finance for preparation of Budget, Cash Flow Statement and Other Ad-hoc reports to the management.
Presenting monthly project’s status reports for each project Billing, Collections, outstanding and Cost.
Heading staff in the Accounts Department, Organizing and assisting the accounts staff for day to day work schedules to meet monthly accounts closing & reporting deadlines.
Closely monitoring and verifying payments to employees, suppliers and monitoring receivables and corresponding with customers to collect receivables as per ageing.
Overall responsibility as audit coordinator during annual audits, periodical audit and liaising with internal and external auditors.
Providing report on Pre-order cost vs. Actual cost of completed orders/Project cost to complete.
Monitoring the Payroll process Via WPS of the Group Companies and other payments.
Monitoring the individual Creditor’s/ Debtor’s Accounts.
Inventory monitoring & reporting, Cycle counts reviews for all divisions, damaged units claim & Replacement units division wise monitoring. Visit to warehouses and other group companies.
In charge of all the centralized accounting system for Head Office and managing the creditors including, Predicting the cash out flow and monitoring bank balances to ensure timely payments.
Liaising with creditors for better discounts and credit period.
Carrying out any other assignments or special investigation as required by the Directors or Department Heads and performs miscellaneous job related duties as assigned.
Administered single-user Tally Accounting System.
Booking of Journal transactions looking after receipts and payments, cash & bank transactions.
Monitored cash and accounts receivable & payables. * Follow-up customer for the payments.
Monthly bank reconciliation and others. Preparation of monthly payroll.
Maintain all kind of necessary Administrational documents, Contracts & etc.,
Preparation of Quotations & LPO’s Etc.,