Accounting Manager
Al Mabani International Real Estate
Total years of experience :32 years, 5 Months
Accounting
• Manage the day-to-day accounting operations and processing of all financial transactions and annual financial closing processes in accordance with accounting policies and procedures.
• Oversee accounting operations including Accounts Payable, Accounts Receivable, Fixed Assets, Bank Reconciliations, GL maintenance, and VAT.
• Prepare, supervise, and ensure the preparation and effective and efficient maintenance/reconciliation of accounting records.
• Supervise the process of General Ledger Balance to ensure the accuracy of the reported numbers, bank reconciliation, and cash accounting to enable effective cash management and help in resolving issues in unreconciled items.
Financial Planning and Analysis
• Create financial forecasts and budgets.
• Analyze financial data to identify trends and make recommendations for improvement.
• Developed a financial model that accurately forecasted revenue and expenses, which resulted in a 10% increase in profit.
• Prepared a financial report that identified opportunities for cost savings, which resulted in a 12% reduction in expenses.
Cash Management
• Developing and managing cash flow forecasts: I developed and maintained cash flow forecasts to ensure that the company had sufficient cash on hand to meet its obligations.
• Managed accounts receivable to ensure that payments were received in a timely manner, which resulted in a 10% reduction in the company's days sales outstanding.
• Managed accounts payable to ensure that payments were made in a timely manner, which resulted in a 5% reduction in the company's interest expense.
• Collaborated with cross-functional teams to identify opportunities to improve cash flow, such as negotiating better payment terms with vendors and customers,
Treasury
• Administer loans and intercompany loans.
• Manage settlements.
• Reduced cash conversion cycle by 10% by implementing new cash management strategies
• Increased investment returns by 5% by developing and implementing new risk management strategies
• Improved financial reporting accuracy by 90% by implementing new internal controls
• Work closely with banks to establish and maintain relationships.
Other
• Prepare financial information in a timely and effective manner to support internal and external financial reporting.
• Develop annual audited financial statements, annual report, and other financial reports.
• Conduct monthly expense variance analysis exercises.
• Develop and maintain fixed assets register.
- Implementing ERP system for Hospitals and Clinics
To determine the doctors and the operations cost -allocation for the cost for every surgical operation
- Prepare financial statements, business activity reports, and financial forecasts.
- Ensure that the organization’s financial records and recordkeeping methods are in compliance with applicable standards and regulations.
- Manage employees and contractors who are responsible for financial reporting and budgeting.
- Periodically review the organization’s financial reports and identify opportunities for cost reduction.
- Analyze data and advise top management on how to maximize profits.
- Analyze market trends and identify opportunities for growth/expansion.
- Oversee organization’s investments.
- Give final approval to expenditures
*Implementation for new ERP System IFocus for Finance, inventory, Production and HR
*Strategic Consulting, including business plan & Finance strategy development.
* Develop the company budget and follow up
* Develop the team and train them for the new software
*Safeguard assets and assure accurate and timely recording of all transactions by implementing disciplines of internal audits, controls and checks across all departments
*Manage the accuracy and productivity of day-to-day activities of accounts payable, Accounts Receivable, cash disbursements, invoicing/billing, customer credits and collections, payroll, inventory integrity, fixed asset records, general & entity accounting, cost accounting, Human Resources, and Operations etc
*Develop, improve and issue timely monthly financial records for Company executive leadership
*Assure financial plans are consistent with organizational goals
*Provide financial analysis tools to evaluate company ventures or special projects, programs, capital expenditures, products costing, etc. when necessary
*Manage commercial banking relationships to facilitate an appropriate credit resource under highly competitive terms
*Interface with outside audit firms(s), banks, nsurance agent(s), credit card companies, and collection agencies
-Monitoring day to day transactions before entering in BaaN ERP.
-Supervising proper reconciliations if any for accounts receivables and follow up A/R collection process
-Supervising proper reconciliation if any for accounts payables and handle A/P payment process thru cash flow plans.
-Have a periodic review for the transactions done with the financial accounting team before entries in BaaN ERP).
-Reviewing monthly banks reconciliations and approve them from the finance manager.
-Ensure that the financial closing is done on time & monitor the month-end transactions (Accruals, Prepaid intercompany transactions and fix assets transaction ) based on Month-end closing process
Prepare the A/R aging analysis and link it to cash flow.
Prepare the A/P aging analysis and link it to cash flow.
Supervise & manage the financial accounting team ( 7 Persons ) and handle their admin and technical problems with care and to Finance Manager
Create a job description and backup for all jobs assigned to financial accounting section, tasks, and responsibilities.
Assist and support in any other reports as required by Finance manager and to be prepared.
Job Responsibilities .- Recording invoices for internal and external suppliers using iSCALA system (ERP System)- Reconcile the Suppliers Accounts and preparing the Payments on due dates .
-Interact with external auditors in my area of work.
-Review the invoice before signature from collection angle and follow up the POD and Claim….etc until we collect the invoice value for government or private sectors.
-Preparing the Withholding Tax forms and manage the payment for DZIT and Debit notes related to this tax to Suppliers .
-Supervise receivable and payable team in the department.
- Preparation of Yearly budget and monthly rolling forecast
- Coordinating with the Zakat consultant and assisting in preparation of Zakat accounts
-Review tenders
-Recently Working Capital Leader for the government sector.
-weekly report for expected monthly collections and monthly projection
-Prepare Weekly status on all receivables by invoice in coordination with Collectors and Collection Managers.
-Do quarterly receivable review meetings (by invoice) with all branches including central region.
- Ensure all collections are timely adjusted .
- Ensure all Retention's are timely collected as per contractual terms agreed with the Customer.
- Ensure all documentation related to projects are submitted on timely basis for bank financing.
- Ensure the file for claim is submitted to the engineers on the time of installation and follow up with engineers to get final acceptance certificates and receiving report and dispatch it to collection department to submit the claim.
Shipment, Ensure that there is no defective material, Nor discrepancy among equipment specifications and the items are received and accepted by Customer.
- Driving reduction of aged past due (related to dispute receivables), and clean up problematic invoice achieve OP DSO (Days Sales Outstanding) while meeting collection targets.
-i was part of implantation team for SAP (ERP)
Chief Accountant - Preparing cash flow for five projects with value of SR.47 million for banks to get facilities, evaluation studies for the projects and assisting study for new tenders.
- Preparing daily bank status for the facilities
- Preparing monthly projects status for the banks and follow the projects problems.
- Follow up the invoices in the Sites, design the system for each project on the computer to follow up the invoices until cheque is received.
- Supervising the supplies of spare parts for the sites and design the system to track the spare parts from getting MOH PO until they are invoices to MOH.
- Supervising the L/Cs, recording cost of L/Cs, follow up of the L/Cs until material is received and entered in the warehouse.
- Doing journal vouchers, payment and receipt vouchers and record them to accounts program
- Reconciliation of banks and suppliers statements
- Doing final financial reports up to balance sheets
- Preparing and supervising estimated budget, financial reports and cash flow.
- Distributing the expenses to the different projects and checking it in accordance with the company policies.
- Reporting to the Group Financial Controller.
June 93 - June 94 - Worked as Accountant and Head of Computer Department with AL- Watan International Group with its branches AL-Watan Sports, AL-Watan Cars, AL-Watan Furniture and AL-Watan Decoration Projects.
Job Description - Negotiated with the programmer of the company for preparing account and inventory program for the company to change the Accounting system from manual to computer system and prepare accounts charts and inventory chart and did the all transactions on this program.
June 94 - June 96 - Chief Accountant with AL-Watan International Group
- Preparing Financial Reports and Statements
- Preparing estimated budgets
- Supervising registration of all transactions according to company’s and accounts rules and policies.
- Distributing accounts duties and activities for department staff according to company branches.
- Checking financial documents and vouchers according to the company policies.
- Supervising annual store and assets inventory.
- Reconciling banks statements and supplier’s statements of account.
- Contact with banks for facilities agreements for opening L/Cs (for importing cars, fabrics and furniture) and discuss with banks for opening bid Bonds and L/Gs.
- Reporting to The Group Finance Director .
- Implement and Mechanized system for (Accounts and Inventory). Doing warehouse system by arranging cells for every item and coding this item and update the computer and doing document processing system for the warehouse.
- For accounting, I implemented new program and did accounts chart, coding for accounts, Entering Journal Vouchers, Payment received vouchers purchase and sales invoices recording on the system, Product Report Statements and final accounts report (Ledger, Profit & Loss Statement, Balance Sheets Assets and Depreciation Lists and Physical Inventory Check).
- Opening L/Cs for overseas purchases for materials components and machines after determining the economic order, follow the L/Cs and costing the L/Cs until material enters in the warehouse.
- Evaluating & Negotiating monthly products plan and check if it is compatible with the ability of the factory machines and labors ability and advise for the production priority regarding its profits.
- Design cost program on computer to calculate the component cost, assembly cost, final product cost and the plan cost and how to reduce the product cost.
- Preparing the supervising budgets cash flow reports and comparing it with actual actions and prepare deviation reports.
