Location Incharge (Finance and Accounts)
ATTOCK PETROLEUM LIMITED
Total years of experience :16 years, 9 Months
M/s Attock Petroleum Limited
(Attock Petroleum Limited is Pakistani oil marketing company, which is a subsidiary of the UK-domiciled company Attock Oil Company)
Glimpse of my job responsibilities during the tenure.
• Working as an in-charge at Faisalabad depot.
• Development the accounting team for controlling/ evaluating the oil and financial operations.
• Implementing the adequate internal control systems and accounting procedures for optimum utilization of available company resources.
• Liaison with financial institutions for day-to-day financial matters.
• Clearance of imported product from Customs and reconcile it with concerned authorities.
• Contract’s assessment and Revenue recognition according to IFRS-15.
• Supplies management against bank guarantees, postdated cheques & LCs and financial charges calculation against delayed payments.
• To conduct internal audit to verify the depot activities, office SOPs and company operated (COCO) retail outlets.
• Preparation of monthly profit and loss statement of COCO retail outlets.
• Fixed assets management and their recognition into books of accounts as per IAS-16.
• Calculation of shares in other associated companies and joint operations according to IAS-28 and IFRS 09.
• Preparation and consolidation of various schedules relating to the accounts including
analysis for variation in financial results, product wise grass profit, sales volume variance
analysis and profitability comparisons.
• Calculation of expected credit loss (ECL) under IAS 09.
• Review of accounting for leases under IFRS-16.
• Preparation of financial accounts.
• Knowledge of various direct and indirect taxes, such as provision tax, withholding tax, income tax, sales tax, value-added tax (VAT), and goods and services tax (GST).
• Preparation of financial statements.
• Accounts receivable management by aging analysis and analyze the financial performance of customers.
• Accounts payable management.
• Budget preparation and variance analysis to smooth line the company operations.
• Performed duty in corporate and secretarial matters section in regard to comply the company act, 2017, code of corporate governance in its true spirit and liaison with different regulatory authorities (E-g PSX, SECP, company registrar and shareholders) for day-to-day matters.
• Managed the supply chain in respect of better fleet management e-g fleet planning, scheduling, supervise tank lorry loading, documentation/invoicing and execution with timely delivery at customer.
• Management of oil operational activities e-g product receipts, dispatches, sealing & resealing, to check the temperature, density and calculate the product loss/gain
• To look after the office administration.
Responsibilities during the job tenure.
• Income tax deduction under income tax ordinance 2001 and its e filing.
• To finalize the monthly & yearly income tax statements and returns.
• To prepare the input/output sales tax reports for finding of any sales tax liability and submit the monthly sales tax return according to sales tax act 1990.
• Dealing with other Government institution like, EOBI, PESSI and Excise & taxation departments.
• Sites petty cash management and reporting to high ups.
• Stocktaking of stores and process accounts of spinning and weaving units
• Store management.
• Incorporation of receipts, purchase, sales and bank payments vouchers.