Senior Project Accountant
Gate City Trading and Contracting
Total years of experience :12 years, 0 Months
• Managing in line with IFRS 15 Revenue from Contracts with Customers. (Revenue Recognized Point in Time from Direct Sales & Satisfied over time for the Projects.
• Preparing Projects (P&L) according to IFRS 15 Construction Contracts. (Accounting treatment of revenue and costs associated with construction contracts. Oversaw project budget and allocated project direct cost and overhead.
• Reconciling (Bank, GL, Vendor and Customer)
• Oversee project expense accruals entries and reversal of accruals.
• Preparing project collections aging and subcontractor bill and their payment compliance.
• Preparing weekly and monthly project cash outflow forecasts.
• Managing the treasury function (including funding, cash management).
• Preparing monthly accounts payables forecasts for vendors and sub-contractors for each project.
• Supervising salaries via WPS and overtime. Handling and disbursing petty cash at project site.
• Auditing and reconciling the physical inventories with the system on quarterly basis and reported discrepancies to the top management.
• Managing accounts receivable and preparing client invoices.
• Processing accounts payable verified 3-way matching system GRN, Invoice recording & LPO
payment beginning with coding of invoices to the appropriate LPO number, distributing invoices to Project Managers for approval. Trade Finance-Letter of Credit confirmation, negotiation, discounting.
• New & annual insurance PPE. i.e., Motor TPL, Motor Comprehensive, CPM, Contractors All Risks (CAR), Property All Risks PAR, Fire & Allied Perils or Fire & Lightning, Money Insurance, Fidelity Insurance, WCP and Machinery Breakdown Insurance etc.
PROJECT ACCOUNTING
• Created Project accounts in the accounting System.
• Revied and approve supplier invoices, time sheets of rental equipment & related to projects.
• Handled IFRS 15 Revenue from Contracts with Customers. (Revenue Recognized Point in Time from Direct Sales & Satisfied over time from Projects).
• Booked Contracts assets and liability, issued project related billing to clients and managed accounts receivable. Reconciled AR and balance confirmation of receivable balance from customers.
• Supervised PMV internal billing invoices to projects. i.e., Light Transportation, Heavy equipment, transportation & Mobilization cost.
• Reviewed account totals related to projects assets and expenses.
FIXED ASSETS ACCOUNTING
• Managed end to end Fixed Assets register over 500M of Non-Current Assets.
• Prepared PPE Lapsing schedule according to IAS 16, Expertise in impairment of assets IAS 36 for financial reporting.
• Prepared annual CAPEX and reported to the management.
• Prepared end to end Fixed Assets reconciliation to the FA summary level with general ledger.
• Computed monthly depreciation, posted in GL at BU level on real time basis of all fixed assets and submitted annual fixed assets report to the management.
• Collaborated with team members to monitor assets disposals and movements.
• Assigned tag numbers to fixed assets. Conducted periodic physical inventory counts of fixed assets.
• Processed fixed asset acquisitions, dispositions and partial retirement in the accounting system.
• Tracked the compilation of project costs into fixed asset accounts and closed those accounts once the related projects have been completed. Investigated the potential obsolescence of fixed assets.
• Liaised with internal & external auditor relating to fixed assets and assisted the auditors in their inquiries.
• Capitalized Custom & Excise duty on all imported Fixed Assets & borrowing cost on self-constructed assets for capital work in progress. (Under-construction Assets) IAS-16.
FINANCIAL REPORTING & GENERAL LEDGER
• Day to day General Ledger Operations & Day to day OPEX and Direct costs Operations.
• Maintained chart of accounts (General ledger, cost center, material categories and profit center) that meet
reporting and analysis.
Handle End to End closing Cycle of GL prior to deadline, validated transactions and data then reconciled
Trail Balance & Balance Sheet line by line with GL and adjustments. (and reviewed those prepared by the
O2C & P2P) for Receivables & Payables, ODC accruals and OPEX accruals. Ensured supporting
documentation is maintained and reconciling items are cleared in a timely manner.
Intercompany balances and GL reconciliation.
• Prepared SOFP & SOPL accordingly IAS and IFRS standards.
• Prepared Interpretation of Financial Statement (Ratio analysis of Profitability, Liquidity & Long-term
Solvency) and reported to management.
• Managed Finance & operating lease IFRS 16 right of use asset and present value of future lease payments.
• Supervised and monitored monthly inventory accounting for all stock items.
• Adhered to accounting policies and changes in accounting estimate.
ACCOUNTS PAYABLES
• Validated and verified 3-way matching with GRN, Invoice recording & LPO then processed payment for
domestic and international suppliers.
• Reconciled Accounts Payable Ledger and provided payables balance confirmation to creditor.
• Trade Finance-Letter of Credit confirmation, negotiation, discounting, LG and Bank Guarantees.
INSURANCE PPE
• New & annual insurance renewed PPE. i.e., Motor TPL, Motor Comprehensive, CPM, Contractors All Risks (CAR),
Fire, Property All Risks, Money Insurance, Fidelity Insurance, and Machinery Breakdown Insurance etc.
• Prepared Annual Insurance Plan and Budget based on projects and properties.
• Co-ordinated with all divisions, for the implementation of procedures for acquiring coverage for the company assets and liabilities.
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• Managed the computerized environment With Oracle.
• Prepared and recorded asset, liability, revenue, and expenses entries by compiling and analyzing account information.
• Summarizes financial status by collecting information; prepared financial Statement, Income Statement, and other statements.
• Maintained and balances subsidiary accounts by verifying, allocating, and posting, reconciling transactions & resolving discrepancies.
• Managed end to end preparation, finalization and maintenance of complete book of Accounts.
• Done Age wise Receivable/Analysis of Debtors Accounts.
• Done Stock taking, managed re-order level.
• Handled the accounts (Cash, Bank, Journal, Sales Entries)
• Done Bank Reconciliation, AR Reconciliation, AP Reconciliation & Petty cash Account reconciliation.
• Managed better receivable collection to reducing float.
• Done Working Capital and Inventory turnover period.
• Prepared cash flow and cash flow budget.
• Managed all the daily activities of Accounts Payable & Receivable.
• Booked all the business expenses associated cost center and BU.
• Provided the entire query asked by statutory Auditors at appropriate time.
• Prepared weekly Collection report.
KEY RESPONSIBILITIES
• Performed full financial report an analysis to include journal entries, job costs, project scheduling and overall project accounting.
• Prepared project collections, subcontractor compliance and project (P&L).
Maintained a cost tracking and forecasting system.
• Reported weekly to the head office on the cash outflow forecasts for project.
• Managed the treasury function (including funding, cash management, liquidity)
• Looked after all aspects of project costing; reviewing, analysing and reporting. Attended project meetings with the shipyard and major contractors.
• Prepared monthly accounts payables forecasts for vendors and contractors for each project.
• Prepared salaries and overtime for project personnel on site.
• Controlled and disbursed petty cash at project site.
• Other administrative duties i.e. meeting up with shipping agents, coordinating logistics for purchases and off signing /on signing personnel.
• Audit and reconciliation of inventory at site.
• Process accounts payable from invoice to payment, beginning with coding invoices to the appropriate LPO number, distributing invoices to Project Managers for approval.
TRAINEE FINANCE,
R.Agrawal & Associates, member of Kreston International
KEY RESPONSIBILITIES
• Served as Audit Staff for audit, reviews and compilation of various manufacturing companies, governmental institutions, private institutions and non-profit entities.
• Preparation of planning for audit engagements.
• Embracing assignment planning, programming, conduct and control of audit work and reporting findings.
• Researching audit issues.
• Examine and evaluate financial and information system, recommending controls to ensure system reliability and data integrity.
• Documentation of audit fieldwork and findings.
• Prepare, analyze and verify annual reports and financial statements, and other reports, using accepted accounting and statistical procedures to assess financial condition and facilitate financial planning.
• Confer with company officials about financial and regulatory matters.
• Prepared budget and cash forecasting.
International Financial reporting. Corporate law and company law. Management Accounting. Corporate Governance. Studies of Managing people. Studies of UK tax computation.
Acounting & Finance
Studies of international Financial reporting.
