Chief Financial Officer (CFO)
FMCG
Total years of experience :29 years, 9 Months
• Oversee the recording in the G/L, monthly closing & preparation of reconciliation
• Handling all communication with banking
• Overseeing the costing, Treasury, payable, Taxation and G/L functions.
• Initiating & Managing Cost reduction plans.
• Handling pricing negotiation with international & local suppliers
• Preparing feasibility studies for any capital expenditure.
• Handling Corporate & Internal & external Auditor issues.
• Oversee the reporting, analysis and budgeting functions’.
• Liaising with the External Auditor.
• Support & Co-ordinate with other Business Units related financial matters.
• Raise recommendations to the company Audit committee and Board of Director.
• Preparing financial statements and notes to financial statements.
• Handling with central audit as a legal external audit
• Prepare budget and follow up the negative and positive variance
• Drafting 5 business plans.
• Preparing all financial cycle
• Preparing financial, purchasing, store, and admin policy
• Preparing authorization matrix
• Asec Cement Co. is a holding company and it’s one of the cement market leaders in Egypt, the Company is a member of Citadel Group.
• Asec has subsidiaries outside Egypt such as Syria, Algeria (two project), Sudan, Iraq and inside Egypt .
• ASEC cement’s paid capital at December 31, 2008 USD 550 Million and plan to increase paid capital in 2009 & 2010 to complete the paid capital USD 750 Million
• ASEC plan’s (during 2009) to increase her share in Misr Cement Qena from % 27 to more than %50 from Misr Cement Qena by acquisition cost more than USD 250 Million
• Total long term investment cost EGP 1, 534 billion at December 31, 2008
Responsibilities:
Accounting sector
• Closing Financial Statement every month for all stand alones level and Consolidated level by controlling the elimination entries
• Controlling for all inter company transaction
• Controlling for the currency rate and translate all currencies (subsidiaries local currency) to EGP using IFRS umbrella (some accounts re evaluate by historical rates and some accounts re evaluate average rates and some accounts re evaluate by closing rates)
• Dealing with the bank all company’s need (LCs, LGs, wire transferring, deposits, over draft, controlling for all bank charge and controlling for all bank credit (debit) balance
• Dealing with the legal department for all capital increase transaction
• Dealing with the external audit offices (KPMG, PWC and E&Y) inside and outside Egypt.
Reporting sector
• Prepare Monthly reports and comparative actual variance budget
• Prepare all financial reporting for subsidiaries level and consolidated level
• Prepare annual financial report for subsidiaries level and consolidated level
Budget & Business plan sector
• Prepare Budget & business Plan for stand alones level & Consolidated level
Other Responsibilities:
• Member in insurance committee to choose the best offer
• Member in equipment committee
• Member in HR committee to issue the policies
• Dealing with the shareholders, mother company, sisters and subsidiaries company
Responsibilities:
COST ACCOUNTING
• Prepare Cost System to ensure access to the actual cost of the product in stages.
• Follow-up and Control direct and indirect costs, trying to cut way that does not harm the interests of labor
• Prepare Break even for all company, every product, the profitability and contribution of each product in profit or loss .
ACCOUNTING
• Fixed Asset : Prepare all depreciation and amortization for fixed assets and control them register
• Prepare Financial statements ( Balance sheet, income statement, cash flow statement and sources of funds and their utilization ) monthly for more than 8 years following the Accounting Standards
• Prepare Accounting Policies and Accounting Cycle to ensure the achievement of control and accuracy and also participate in the preparation of a feasibility study for new projects .
• Prepare Monthly & Annual reports and comparative actual with budget .
• Supervision and management more than 15 accountants to manage costs, sales, customers and general accounts.
• Dealing with the suppliers and try to reach the longest possible credit
• Dealing with Messrs. tax officers and attend screening committees
• Dealing with the external audit offices ( B.K.R, Mostafa Shawky, Waheed abd el gafar, Braim, Zarok, Ernest, Magdy hashish and Ahmed abd el sabor ).
• Working Under pressure and achieving the goal in the required time and often ahead of time .
Responsibilities:
• Preparing the daily journal entries.
• Keeping subsidiary ledger for the fixed assets.
• Calculating the fixed assets monthly depreciation.
• Preparing Bank reconciliation.
• Posting journal entries into the General Ledger.
• Preparing the monthly closing entries.
• Participating in preparing the company trial balance
all accountant responsibility
MBA, investment and financing - march 2015