Cost Manager (Acting as Finance manager for Mechanical & Electrical factories)
Integrated environment technology & oil services (IETOS) factory
Total years of experience :14 years, 7 Months
•Construct data accumulation systems for a cost accounting system so we get more control in the cost which help in reducing overhead cost by 30%.
•a new inventory system for raw materials, work in production & finished goods which will help to reduce purchases by 20%.
•Setup COMSYS system for inventory instead of excel, training of accountants & storekeeper for the new operation cycle & then give the training of how we will implement it on COMSYS.
•Collaborate in making a policy with the engineers for the normal spoilage & how we will sell it.
•Work by job order costing that give us more accurate costing for each product.
•make budget for production process to be preventive approach rather than corrective approach.
•The accurate costing system for projects results in good pricing which gives us a competitive advantage.
•Negotiate prices & payment terms with suppliers while ensuring the continuation and enhancements of services.
•Review of contracts with external customers terms of payment & make sure about collecting of money, issuance of tax invoices, withholding tax, issuance of LG against the advance payment.
• Reviewing the contract between the company and the customer, reviewing the payment terms, guarantees and any other conditions.
• Drafting contractors' excerpts with the Projects Department and the percentages of completion of the contract and ensure that the Engineering Department signs the inventory of the actual quantities executed on the site and compare it with the client extract and follow up the differences.
• Review payment of all taxes (sales tax, withholding tax, insurance for contracts)
• prepare and review monthly financial reports, quarterly budget and annual budget.
• Monitor actual performance compared to planned budget targets and identify deviations.
• The link responsible for the accuracy and dates of financial reports sent by Sewedy Power to the management responsible for the combined budget of The ELSewedy companies.
• Prepare detailed reports on the distribution of costs by cost type and cost Centre.
• Review and discover a change in monthly results to highlight the possible reasons for deviation from the planned results.
• Review how and policy used to include fixed assets with the accounting team.
• Review the process of collecting invoices from customers.
• Review the completion rate of the projects and make sure they are completed.
• Audit bank statements, bank settlements and review bill payments and other expenses.
• Review submission of oracle data on corporate team Hyperion system.
Direct responsibility for all accounting and administrative tasks related to the Company for all revenues and expenses and their implementation in accordance with accounting principles.
Monthly audit of the company's balances to ensure their accuracy, guide accounting and report to the CFO.
Prepare detailed reports on the distribution of fixed costs by cost type and cost Centre.
Review and discover a change in monthly results to highlight the possible reasons for deviation from the planned results.
Review how and policy used to include fixed assets with the accounting team.
Review the process of collecting invoices from customers
-Review monthly bank reconciliation for all banks
-Review & verify vendor invoices & issuing checks.
-Issuing debit & credit notes to subsidiaries & record it.
-Review accounting documents to ensure adequacy of information & calculation.
- Review & Handle all daily financial transactions on oracle system.
-Maintaining monthly cash position & cash flow.
-Responsible for clothing books at the end of the year.
-Preparing financial statements according to Egyptian standards.
- Review of journals made by other accountants & post to general ledger.
-Preparing of Installment sheets for customers.
-Follow Up collections of customers & the balance of AR.
1-Performing substantive audit procedures according to International Audit Standards of financial statement sections to ensure that company's financial statements are fairly presented according to Egyptian Accounting Standards.
2- Assessing and testing the internal control environment, and reporting weaknesses to Client’s management.
3-Preparing the financial statements and wrapping up the audit engagement.
4- Performing financial analysis for the accounts.
•Issuing of tax invoices for customers.
•Opening the commercial registration and tax card for companies.
•Bookkeeping for different clients with different industries.
•Making a monthly tax return & assure of sending it with the time to avoid any fines and making an annual income tax return for all clients.
SKILLS:
I am certified management accountant for institute of management accountant in USA
Certified Management Accountant