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MUHAMMAD SHAFEEK PALARA, Senior accountant & internal auditor

MUHAMMAD SHAFEEK PALARA

Senior accountant & internal auditor·Al shammasy trading company

Saudi Arabia

Master's degree, MTA (Travel & Tourism)

Work experience

Total years of experience: 14 years, 3 months

Senior accountant & internal auditor

June 2023 - Present

Al shammasy trading company

Riyadh, Saudi Arabia

June 2023 - Present

• Oversaw monthly reconciliations and closings, achieving flawless accuracy to facilitate timely financial analysis.
• Developed and presented detailed financial reports, ensuring precision in profit & loss statements, balance sheets, and cash flow analyses.
• Maintained compliance by ensuring timely VAT and corporate tax filings with ZATCA, resulting in zero delays.
• Enhanced expense and invoice processing workflows, significantly improving payment timeliness and regulatory adherence.
• Executed comprehensive audits and collaborated with external auditors to uphold tax compliance and strengthen internal controls.
• Leveraged analytical skills to support strategic financial decision-making and optimize resource allocation.
Company industry:
Sales Outsourcing

Senior Tax Accountant & Audit Associate

October 2015 - January 2023

Latheef and associates( Tax Consultants and Accountants)

Malappuram, India

October 2015 - January 2023

• Assisted public auditors in conducting interim and annual audits, ensuring compliance with government regulations.
• Generated comprehensive financial statements, streamlining account closing procedures for efficiency.
• Drafted and meticulously reviewed financial statement compilations, securing approval from partners.
• Engaged with clients to identify and assess business controls, risks, and workflow inefficiencies, enhancing operational effectiveness.
• Identified internal control weaknesses and proactively recommended corrective actions to strengthen financial integrity.
• Conducted and filed GST returns (GSTR-3B), ensuring timely compliance with tax regulations.
Company industry:
Accounting

General accountant

January 2015 - September 2015

Al marrakechi travel

Dubai, United Arab Emirates

January 2015 - September 2015

• Ensured the accuracy of financial statements, achieving a receivable accuracy rate of 99% through effective cash and debtor collection management.
• Enhanced reconciliation accuracy by 15% by diligently updating creditor settlements based on statements from 25 leisure suppliers.
• Conducted thorough bank reconciliations to maintain financial integrity.
• Assisted in corporate invoicing processes by meticulously sorting and organizing supporting documents to meet specific corporate requirements.
• Prepared and analyzed monthly sales reports to provide insights into financial performance.
• Undertook a destination study, paving the way for a transition from a General Accountant to roles such as Accountant, Financial Analyst, and Finance Controller.
Company industry:
Travel Agency

General Accountant

November 2011 - November 2014

BEAUTY VISION COSMETICS & BEAUTY REQUISITES Co LLC -

Al Ain, United Arab Emirates

November 2011 - November 2014

• Prepared and analyzed monthly financial reports, enhancing decision-making and strategic planning.
• Conducted bank reconciliations and managed fixed asset schedules, ensuring compliance with GAAP and accurate depreciation calculations.
• Generated payroll and managed accounts receivable/payable ledgers, streamlining processes and improving financial accuracy.
• Facilitated year-end closing processes, contributing to enhanced efficiency and timely reporting.
• Led quarterly inventory controls, aligning physical counts with system records to ensure integrity in documentation for inventory and fixed assets.
• Collaborated with auditors during annual reviews, reinforcing transparency and compliance in financial practices.
Company industry:
Perfume & Cosmetics

Month-End Efficiency

January 0001 - January 0001

January 0001 - January 0001

• Led a cross-functional team to streamline month-end closing processes, achieving a 25% reduction in closing times.
• Implemented best practices and automation tools to enhance accuracy and efficiency in financial reporting.
• Collaborated with various departments to identify bottlenecks and optimize workflows, resulting in improved financial visibility.
• Developed training materials and conducted workshops to empower team members in adopting new procedures.
• Monitored performance metrics to ensure continuous improvement and alignment with organizational goals.
• Fostered a culture of accountability and excellence within the finance team, driving overall operational efficiency.

Education

BANGALORE UNIVERSITY

June 2008

June 2008

Master's degree, MTA (Travel & Tourism)

India

1. DONE INTRNSHIP IN AKBAR TRAVELS OF IND PVT LTD 2.DID PROJECT IN CARGO HANDLING GIVING SPECIAL PREFERENCE IN BANGALORE INTERNATIONAL AIRPORT 3. TWO YEAR CONTINOUSLY GOT BEST STUDENT AWARD UNDER 50 STUDENTS.
View attachment

Bangalore University

March 2008

March 2008

Master's degree, Tourism

India

CALICUT UNIVERSITY

July 2006

July 2006

Bachelor's degree, BACHELOR IN COMMERCE (B.COM)

India

Calicut University

March 2006

March 2006

Bachelor's degree, CO-OPERATION

India

Skills

Data Entry
Expert
Data Entry
Expert
Administration
Expert
Administration
Expert
Preparation
Expert
Preparation
Expert
Payments
Expert
Payments
Expert
Payroll
Expert
Payroll
Expert
M.S.office & internet
Expert
M.S.office & internet
Expert
Tally and other accounting softwares
Expert
Tally and other accounting softwares
Expert
INTERNAL AUDITING
Expert
INTERNAL AUDITING
Expert
FINANCIAL ANALYSIS
Expert
FINANCIAL ANALYSIS
Expert
PROJECT RISK MANAGEMENT
Intermediate
PROJECT RISK MANAGEMENT
Intermediate
COMPLIANCE REPORTING
Expert
COMPLIANCE REPORTING
Expert
RECONCILIATION
Expert
RECONCILIATION
Expert
ACCOUNTING
Expert
ACCOUNTING
Expert
EXPENSE REPORTS
Expert
EXPENSE REPORTS
Expert
PROFIT AND LOSS P&L MANAGEMENT
Expert
PROFIT AND LOSS P&L MANAGEMENT
Expert
FINANCIAL STATEMENTS
Expert
FINANCIAL STATEMENTS
Expert
Data Entry
Expert
Data Entry
Expert
Administration
Expert
Administration
Expert
Preparation
Expert
Preparation
Expert
Payments
Expert
Payments
Expert
Payroll
Expert
Payroll
Expert

Languages

English
Expert
Hindi
Intermediate
Malayalam
Expert
Arabic
Beginner

Hobbies

  • Travelling
  • Cooking