Muhammad Umar Farooq

Accountant (Retail & Distribution) Mar 2015 - till date

Select Highlights:

 Engaged in preparation of monthly & annually Financial Reports by pulling data from ERP.
 Engaged in Planning process, giving inputs for the Budgets, Variance Analysis along with recommendation for management review.
 Responsible for payments of Rental, Utilities, Municipality, Staff advances and other suppliers, payments of International Suppliers in Foreign currency.
 Liable for Funds transfer from retail & distribution to head office.
 Preparing Collection Reports of 30 retails outlet in UAE and 10 FMCG outlet, weekly Aging analysis of overdue and follow up with sales man for overdue balances.
 Check inter-company balance and Head office reconciliation
 Comparison & Variance Analysis of All Rent, Trade License, Insurance, Electricity & Telephone Expenses of All Retail Outlets & and send it to management along with recommendations
 Bank Reconciliation Statement and liaison with banks for statement & financial facilities.

Accountant (Manufacturing) Feb 2013 - Feb 2015

 Managing Accounts Payable by recording local invoices and Calculating landed cost for booking of import shipments, Debit notes, periodically vendor reconciliation and adjusting foreign exchange gain / loss.
 Correspondence with different dept. to solve issues related to quality, quantity & pricing.
 Participate in Annual budget preparation
 Maintaining fixed asset, depreciation, Accrued, Prepaid, and Production expense etc schedule, supervision of petty cash transaction.
 Supervise perpetual stock counts, and Valuation of stock & WIP for year-end closing reports reconciling with ERP stock reports,
 Preparing work order variance analysis, weekly gross margin report, Comparing of actual cost with standard cost and investigate the reason of variance.

Achievement: Active member of the MS Dynamics AX implementation team; reconciled and moved data from SAGE to Dynamics with accuracy & efficiency.

Select highlights:
 Prepare, analyze and report monthly, quarterly gross margin analysis by brand type.
 Preparing job order profitability analysis for management review.
 Interact with Production Control to ensure Bills of Materials (BOM) are accurate and up to date. Review and audit BOM’s to ensure they reflect the latest manufacturing practices.
 Analyze actual labor, material, and overhead cost against Standard/Budget, research and explain variances, report this information monthly or as needed.
 Development of new labor and overhead rates, budget, and forecasts.
 Perform ad hoc product/plant cost analysis to support the operations.
 Additional responsibilities per management

Achievement: Successfully Implement Job Order Costing.

Select highlights:

 Responsible for generating SO, dispatches, invoices to customers, credit note, Ageing analysis report and following up for overdue invoices.
 Responsible for generating PO, recording of receipt by entering suppliers invoices, releasing payments, debit notes, vendor aging for due invoices.
 Verifies accounts by reconciling statements & transactions of customers/suppliers.
 Group wide Reconciliations for inter group transactions.
 Liable for perpetual stock count and monthly stock insurance declaration.
 Keep record of advance income tax deducted on receipt and payments, prepare schedule of Income Tax for monthly advance tax return and preparation of Monthly Sales Tax Return.
 Responsible for annual ISO audit and prepare necessary documents for audit & ensuring that the procedure & compliances followed as per required standard.
 Responsible for completion of annual external & internal audit.

Achievement: Active member of ERP Oracle R12 team, reconcile and move data from
AS-400 to ERP Oracle with accuracy and efficiency

Select highlights:

 Responsible for Finalization of Accounts and preparation of Balance sheet and P&L.
 Supervision of Accounts Receivable/ Accounts Payable activities.
 Checking of monthly Bank Reconciliation and monthly payroll.
 Prepare report for all inventory level, raw material, work in process & finished goods to check for any inconsistency in inventory levels.
 Preparation of monthly schedules Accrued, Prepaid, Fixed assets etc.
 Maintain sales tax record, submit monthly sales tax return and respective sales tax refund from FBR & coordinate with sales tax consultant.