Finance Analyst
Emirates
Total years of experience :16 years, 11 Months
Successfully transformed this company from a cash deficit to a cash surplus. The cash and bank ratio to total assets at the time I joined was less than 5% and the receivables represented 80% of total assets. I adopted an aggressive policy
for working capital management and during my time with the company was able to transform the situation bringing the cash and bank ratio to above 20%, and the receivables to assets ratio was reduced to 40% with no bad debts incurred. As such the current ratio of the company is above 1.8. I then establish a 5 year plan and formulated the strategy of multiply with management by suggesting they diversify the portfolio and increase sources of revenue to increase the liquidity. In the span of two years, we doubled the team and the profits grew by four times.
Additional responsibilities include:
Managing the finance department of the company.
Performing financial reporting, budgeting and control, cash management and payments processing.
Preparing and closing books of accounts on monthly basis.
Follow up on receivables.
In conjunction with their tax consultant we were able to settle Rs 700m tax demand in favour of the company. Successfully established our case to tax authorities and were able to settle in favour of the company. Reconciled disbursements and collection of loans worth of Rs 500 million which were long outstanding and was a major audit observation by the government auditors and external auditors.
Additional responsibilities include:
Managed a team of five individuals.
Expenditure accounting, reviewing and approving posting of expenditures on daily basis.
Examining and approving bank reconciliation on monthly basis.
Ensuring that all transactions are summarized and posted to proper accounts and cost center.
Prepared annual and semi-annual accounts.
Performed fixed asset management, and maintained the subsidiary records of fixed assets.
Periodic reconciliation of fixed assets subsidiary and general ledger, and prepared fixed assets schedule for monthly, quarterly, and annual audits.
Performed calculation of gain or loss on the disposal of fixed assets.
Managed capital work in progress, budgeting and control.
Prepared annual budget and presented to the Board of Directors.
Interpreted budget directives and ensured steps for carrying out directives.
Analyzed monthly zonal budgeting and accounting reports to maintain expenditure controls.
Provided advice and technical assistance to GM budget for budget preparation and taxation.
Coordinating with tax consultant on monthly filing of withholding statement and annual return.
Prepared statements and other supports to be presented in assessment and appeals proceedings.
Performed calculation of tax provision on monthly basis, and deferred tax liability or assets annually.
A brief of the major responsibilities included:
Engagement planning:
Understanding of the client, its environment and internal controls (Risk assessment procedures);
Budgeting and team mobilization; and
Conducting meetings with senior management of the client.
Managing the engagement
In accordance with professional standards and regulatory requirements:
Designing and performing engagement procedures in response to assessed risk (for assurance engagements);
Coordinating with third parties (lawyers, banker and advisors etc)
Reviewing and supervising the work of junior staff; and
Communicating with the Manager and/or Partner with respect to engagement progress.
Engagement completion:
Reviewing the subject matter information (including the financial statements) in the light of statutory requirements, current accounting practices and disclosure requirements of the IFRS and other local statutes.
Advising management on accounting and related technical matters and preparation of management letters; and
Other reporting requirements in respect of non assurance engagements.
Applied for Membership
Chartered Accountant (ACA)
Qualified