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Masumali Saiyed, Senior Accountant

Masumali Saiyed

Senior Accountant·Osh United Company

Saudi Arabia

Master's degree, Accountancy & Financial Management

Work experience

Total years of experience: 22 years, 7 months

Senior Accountant

March 2024 - Present

Osh United Company

Khobar, Saudi Arabia

March 2024 - Present

• Managing month-end and year-end closing processes.
• Analyzing financial data to prepare comprehensive financial statements and reports.
• Overseeing the complete cycle of Accounts Payable and Receivable, General Ledger, and Cash management.
• Assisting with the annual budgeting process and financial forecasting.
• Conducting in-depth financial analysis of operational expenses to drive informed decision-making.
• Reviewing and managing fixed asset transactions, including additions, deletions, and depreciation schedules.
• Monitoring prepayments, accruals, and provisions to enhance financial reporting accuracy and compliance.
• Reviewing and filling VAT return as per KSA VAT Law.
• Oversee payroll cycle.
• Completing financial audit by coordinating with external auditors.

Company industry:
Catering, Food Service, & Restaurant
Job role:
Accounting and Auditing

Senior Accountant

September 2012 - October 2023

Gulf Desert Chemical Co. (Al Othman Holding)

Khobar, Saudi Arabia

September 2012 - October 2023

• Executed comprehensive financial closing activities for month-end,
quarter-end, and year-end to ensure accuracy and compliance.
• Prepared detailed Profit & Loss statements, Balance Sheets, and Cash
Flow reports for strategic decision-making.
• Managed accounts receivable processes, including billings, collections,
and revenue recognition, to enhance cash flow.
• Oversaw complete accounts payable cycle to ensure timely payments
and maintain vendor relationships.
• Administered Bank Facilities, Import Letters of Credit, Bank Loans, and
LC Refinancing to optimize financial resources.
• Contributed to the preparation of annual budgets, forecasts and
business plan.
• Produced monthly variance reports with narratives.
• Reviewed and managed fixed assets, including additions, deletions, and
periodic depreciation assessments.
• Developed cost working analysis for successful Aramco project bids.
• Successfully completed IKTVA audit and uploaded survey data onto the official IKTVA portal.
• Cash, Bank, and general ledger reconciliations.
• Prepared & submitted monthly VAT return as per KSA VAT Law.
• Conducted Intercompany Reconciliation.
• Facilitated external and internal audits

Company industry:
Other Business Support Services
Job role:
Oil and Gas

Senior Accounts Executive

February 2008 - August 2012

Cube Construction Engineering Limited

Vadodara, India

February 2008 - August 2012

• Oversaw comprehensive accounts payable operations, including
Transportation, Labor charges, Professional fees, and Hire charges.
• Ensured accuracy in coding for purchase, cash, bank, and financial
transactions, achieving a zero-error rate.
• Verified payable invoices and coordinated with officials to release
payment on time.
• Administered payroll for 100+ employees, managing taxes, time off,
allowances, deductions, and benefits efficiently.
• Conducted thorough reconciliations of cash, bank, and general ledgers,
enhancing financial accuracy.
• Visited ongoing sites and verified weekly operation expenses.
• Submitted TDS (Tax deducted at source) returns under various sections.
• Assisted financial audits by collaborating with various coworkers.

Company industry:
Civil Engineering
Job role:
Construction and Building

Part-Time Accountant

July 2003 - January 2008

Ace Manufacturing and Marketing

Vadodara, India

July 2003 - January 2008

• Posted accounting and financial transactions with efficiency and
accuracy.
• Managed payables, receivables, and general ledgers.
• Reconciled bank and petty cash.
• Assisted in preparation of VAT, TDS, Service Tax, and Excise.

Company industry:
Manufacturing
Job role:
Accounting and Auditing

Education

Sardar Patel University

April 2007

April 2007

Master's degree, Accountancy & Financial Management

India

GPA (percentage): 52%

GPA (percentage): 52%

The Maharaja Sayajirao University Of Baroda

April 2003

April 2003

Bachelor's degree, Accounting and Auditing

India

Skills

Monthly Closing
Expert
Monthly Closing
Expert
Tally ERP 9
Expert
Tally ERP 9
Expert
Financials
Expert
Financials
Expert
Accounts Receivable
Expert
Accounts Receivable
Expert
Annual Budgets
Expert
Annual Budgets
Expert
Auditing
Expert
Auditing
Expert
Financial Statements
Expert
Financial Statements
Expert
Monthly and annual closing process
Expert
Monthly and annual closing process
Expert
ACCOUNTS RECEIVABLE
Expert
ACCOUNTS RECEIVABLE
Expert
ACCRUALS
Expert
ACCRUALS
Expert
DEPRECIATION
Expert
DEPRECIATION
Expert
GENERAL LEDGER
Expert
GENERAL LEDGER
Expert
Meticulous attention to detail
Expert
Meticulous attention to detail
Expert
Value-Added Tax (VAT-KSA)
Intermediate
Value-Added Tax (VAT-KSA)
Intermediate
Payroll
Intermediate
Payroll
Intermediate
Oracle Fusion
Intermediate
Oracle Fusion
Intermediate
DETAIL ORIENTED
Intermediate
DETAIL ORIENTED
Intermediate
FINANCE
Intermediate
FINANCE
Intermediate
ACCOUNTING
Intermediate
ACCOUNTING
Intermediate
FINANCIAL ACCOUNTING
Intermediate
FINANCIAL ACCOUNTING
Intermediate
Financial reporting & analysis
Expert
Financial reporting & analysis
Expert
Reconciliation
Expert
Reconciliation
Expert
Financial Reporting
Expert
Financial Reporting
Expert
BUDGETING
Intermediate
BUDGETING
Intermediate
CERTIFIED PUBLIC ACCOUNTANT
Intermediate
CERTIFIED PUBLIC ACCOUNTANT
Intermediate
ELECTRONIC DATA INTERCHANGE
Intermediate
ELECTRONIC DATA INTERCHANGE
Intermediate
FINANCIAL CLOSE
Intermediate
FINANCIAL CLOSE
Intermediate
FINANCIAL DATA
Intermediate
FINANCIAL DATA
Intermediate
FINANCIAL STATEMENTS
Intermediate
FINANCIAL STATEMENTS
Intermediate
FORECASTING
Intermediate
FORECASTING
Intermediate
VARIANCE ANALYSIS
Intermediate
VARIANCE ANALYSIS
Intermediate
Monthly Closing
Expert
Monthly Closing
Expert
Accounts Payable
Expert
Accounts Payable
Expert

Languages

English
Expert
Hindi
Expert
Gujarati
Expert
Arabic
Intermediate
Urdu
Expert

Memberships

SOCPA

Associate Member

January 2025

Training and Certifications

Certifications
Diploma In Computer Application
Financial Accounting System (Tally)

Hobbies

  • Travelling, Playing Cricket, and Googling