Plant Financial Controller
Lafarge Emirates Cement Co. World's Biggest Cement Producing Group
مجموع سنوات الخبرة :22 years, 4 أشهر
Management Accounting & Financial Analysis:
• Allocating overheads, Raw Material Consumption Valuation, Monthly Cost Sheets, Monthly Profitability Statements
• Ensured compliance to group costing procedure standard costing.
• Reporting periodical Inventories and production rolling forecast and ensuring consistency with the actual figures industrial figures.
• Preparing Trend Analysis of Products revenues, products Costs
• Comparing function wise expenses & per unit expenses Vs the budget for for effective cost control.
• Developing sales & dispatch volume analysis and price & dispatch volume trends
• Developing productwise contribution margin analysis
• Conducting inventory Analysis, Cost Analysis, Analysis of Variances, Analysis of Impact on Profitability
• Reporting Departmental Cost Statements with the changes in Costs for effective Cost Control
• Monthly weighted average Costing of all raw materials, fuels, WIP and finished goods inventories
• Developing special reports for Plant shut downs and stoppages
Plant Control
• Ensuring compliance of the internal control standards and related procedures
• Ensure consistency between industrial reporting and financial reporting
• Reporting periodical KPI’s trends (Key Performance Indicators)
• Reporting periodical production rolling forecast.
• Ensuring strong coherence between the monthly and annual sales plan, production plan and procurement plan.
• Monthly commentary on the variance analysis
• Coordinating with production and Finance reporting team for having compliance & consistency with Group monthly reporting
• Presentation of the business performance analysis to Executive Committee
• Review investment projects and support the plant management in EVA/IRR optimization.
• Coordinate the budget and forecast processes by challenging all departments for agreed performance improvement actions
• Control reviewe on OPEX and CAPEX budget spending and analyze variance.
• Contributing to the optimization of the strict working capital in terms of investment in inventories, AP & AR
• Developed with internal control and production team inventory management procedures & policies.
• Ensuring compliance with inventory management policies and periodical inventory counts.
• Ensuring consistency between plant inventory reports and financial reports.
• Monitoring different types of inventories through several oracle subsidiary modules i.e, EAM, Spares, Raw Materials and Other Supplies.
• Coordinating with several periodical auditors for physical and financial inventories verifications.
• Inventories aging analysis
Accounting & Reporting
• Financial Statements Preparation and audit coordination.
• Working on GL, Accounts Payable, Enterprise Asset Management (Spares/ Raw materials & Other Supplies), and Purchasing in Oracle Financial.
• Supervising daily invoices and payments process using Accounts Payable Module.
• Ageing analysis and suppliers reconciliations.
• Bank reconciliations and sister company balances reconciliation.
• Payroll booking.
• Preparing different financial statements, actual and forecasted cash flows and working capital
• Consolidation and mapping in Hiperion module
• Monitored the Construction work in progress and fixed asset capitalization
• Developing different scenarios for different production plans different inventories forecasts with having focus on month end and year end EBITDA and working capital.
• Actively participated in conversion of old “Orascom Chart of Accounts” into new “Lafarge Chart of Accounts” and its effects on Costing reports.
• Coordinating annual statutory auditors and periodical due diligence auditors from different partners
Since Jan-06 to May-07 I served as Costing & Controlling Executive in Orascom Construction Industries (Local Name as Pakistan Cement Company Ltd).
My primary responsibilities included at least the following:
• • Monthly weighted average Costing of all raw materials, fuels, WIP and finished goods inventories
• Developing monthly Cost of Production reports bases on process costing review
• Developing periodical analytical trends for all key variable and fixed per unit costs
• Developing monthly commentaries on budget & actual variances and controlling reports.
• Monthly performance measurement of plant in monitory and financial terms by developing different
• production & maintenance performance indicators
• Daily production quantitative data review and verification
• Daily control and review of all inventories movements and available quantity.
• Working on production KPI’s and monthly reasoning with budget team for any variation in the KPI’s.
• Member of inventories mini/max levels, inventories count and scrap sale and alternate fuel committees.
• Conducting and supervising periodical inventory counts and adjustments.
• Monthly reconciliations of all inventories physical quantities, on hand quantities in inventory module and GL balances
• Developing different scenarios for different production plans different inventories forecasts with having focus on month
end and year end EBITDA and working capital
• Coordinating with the plant production team and periodical auditors
• Monitoring the fixed assets module by keeping compliance to our Capex & Opex Policies and
• Developing special reports for Plant periodical schedule and unscheduled shut downs and stoppages
• Preparing monthly GL/AP, GL/EAM, GL/FA module reconciliation.
AUDIT AND CONSULTANCY EXPERCIENCE:
For the period 2002-2006 I served in Audit and consultancy division of two audit firms i.e M/S Khalid Majid Rahman Sarfaraz Rahim Iqbal Rafiq Chartered Accountants, an ex-member firm of Moores Rowland International an Association of independent accounting firms throughout the world & M/S Ijaz Tabassum & Co, Chartered Accountants and reportable directly to CEO and other Partners of the firm. My responsibilities include:
• Planning, supervising, and handling ongoing audits assignments.
• Developing audit programs and overall audit plan.
• Developing and finalizing Expressions of Interest (EOI) and Financial proposals.
• Preparation and finalization of yearly accounts in accordance with the Companies Ordinance (1984), International Accounting Standards (IAS) and international Financial reporting Standards (IFRS).
• Review of internal controls implemented in the organizations, identification of weaknesses and professional advice on modification of the systems to further strengthen and make them more effective and efficient
• Internal Management Reporting on the financial as well as non-financial matters.
• Reports on costing e.g., cost estimates, cost sheet statements in the Manufacturing Industries both working in product and process costing environment etc.
• Giving opinions regarding different corporate issues arising from interpretation and application legal requirements and international accounting standards
• Knowledge of Petroleum Concession Agreement (PCA) and annexed accounting procedures, preparation and processing of cash calls statement.
• During my audit and consultancy experience I worked on different accounting assignments of the following sectors:
o Manufacturing Sectors
o Banks and financial institution
o Oil Sector
o Media and Communication Sector
o Development Sector