Finance Team Leader/Head
Real Estate Group
Total years of experience :16 years, 7 Months
Preparation of Financial Statements in accordance with IFRSs and IASs (International Financial Reporting and Accounting Standards)
Coordinating with auditors (top 10) for successful completion of annual audit.
Tax Returns submissions, Refund Claims, VAT payments, company’s registration with FTA for VAT, CT etc.
FTA Audits, response to FTA queries.
Making sure the AML compliance Audits and response to the relevant ministry queries.
Response to RERA/ADGM queries and Escrow Audits finalization.
Preparation of Cashflow Budgets, implementation, Variance Analysis and revisions as and when required.
Maintaining the records of Accounts Receivable/Payables, Reconciliations and following up for collection with respect to the agreements thereof.
Handling Payables, reconciliations and scheduling payments in line with company cash flows and payment terms thereof.
Handling L/C, L/G, Short-Term Long-Term Loans and other Financial Deals.
Preparation of quarterly & annual standalone/consolidated statements including Statement of Financial Position and Statement of Comprehensive Income in accordance with IFRS’s and IASs.
Payroll management as per UAE labor law
Reconciliation of all receipts/payments against respective invoices and allocation as well.
Periodical inventory taking; weekly, monthly reconciliation of physical stock with movements thereof.
Achievements:
FTA Audits successful completion
Successful Refunds Claims more than 300M from FTA.
Financial Statements restructuring and revenue recognition as per IFRS 15/9
Implementation of ERP
Improved collection from customers.
Team management and training
Contributions-Area of Impact:
Management of the finance function in more effective manner to ensure availability of funds for smooth operations and also to avail discount facilities and accumulate stocks for future needs.
Effectively and efficiently handled accounts receivables assuring 0% cash loss or bad debt.
Preparation of budgets, forecasts and cash flows in lieu of proactive financial management.
Develop a new criteria to evaluate performances of merchandizers to contrast sales enhancements versus profit enrichment and also to identify more financially beneficial customer portfolio.
Devised better formulas and cost objects for post-shipment analysis to have more accurate review of activity performances and its monetary effects thereof.
Preparation of quarterly & annual standalone/consolidated statements including P&L and balance sheet in accordance with IFRS’s.
Cash management and treasury duties and overseeing the Payroll process.
Administrative work regarding employees’ visa processing and company documentation etc.
Cash & Cash Disbursements - Make sure to deposit all cheque (current & PD) / Cash on time on daily basis. Check weekly bank reconciliation and look after company petty cash.
Handling imports; quantity, quality, correspondence with the respective supplier regarding claims, and various financial issues.
Periodical inventory taking; weekly, monthly reconciliation of physical stock with movement thereof.
WPS
Achievements:
Implementation of new accounting system (FACTS -Microsoft SQL) assuring unitary level reporting and analysis of inventory while integrating purchases and sales.
Improved cash collection from customers.
Shifted from manual to computerized system.
Achieved HACCP certificate for the company
Contributions-Area of Impact:
Management of the finance function in more effective manner to ensure availability of funds for smooth operations and also to avail discount facilities and accumulate stocks for future needs.
Effectively and efficiently handled accounts receivables assuring 0% cash loss or bad debt.
Preparation of budgets, forecasts and cash flows in lieu of proactive financial management.
Develop a new criteria to evaluate performances of merchandizers to contrast sales enhancements versus profit enrichment and also to identify more financially beneficial customer portfolio.
Devised better formulas and cost objects for post-shipment analysis to have more accurate review of activity performances and its monetary effects thereof.
Preparation of quarterly & annual standalone/consolidated statements including P&L and balance sheet in accordance with IFRS’s.
Cash management and treasury duties and overseeing the Payroll process.
Administrative work regarding employees’ visa processing and company documentation etc.
Cash & Cash Disbursements - Make sure to deposit all cheque (current & PD) / Cash on time on daily basis. Check weekly bank reconciliation and look after company petty cash.
Handling imports; quantity, quality, correspondence with the respective supplier regarding claims, and various financial issues.
Periodical inventory taking; weekly, monthly reconciliation of physical stock with movement thereof.
WPS
Achievements:
Implementation of new accounting system (FACTS -Microsoft SQL) assuring unitary level reporting and analysis of inventory while integrating purchases and sales.
Improved cash collection from customers.
Shifted from manual to computerized system.
Achieved HACCP certificate for the company
Contributions-Area of Impact:
During my tenure at firm I have been assigned various responsibilities depending on the nature of assignment including statuary audits, internal audits, and assurance engagements.
In Tax Department my responsibilities were: Preparation of annual withholding tax statements, annual returns of total income, computations regarding taxable income, income tax liability including advance tax and income tax memorandum charts. A brief summary of my experience is as follows:
Clients -
Annual Audits & Corporate Tax
Sialkot International Airport Limited
Port Services Limited
Sialkot Dry Port Trust
Madinatul-Ilm (Guarantee Limited) - (Real Estate - 32000 kanal area housing society)
Port Services Limited - (Transportation and freight services nationwide)
Qarshi Research (pvt) Limited - (Research and development of new medicines and beverages).
Qarshi Industries (pvt) Limited - (Manufacturer and exporter of herbal medicines round the globe).
National Communications Services (SMC-PVT) Limited; (Dunya T.V - Famous Media Channel)
HONDA City Sales (pvt) Limited
Child And Social Development Organisation (UNO supported project)
Mansha Brothers (Pvt) Limited (Exporter of Leather Garments)
Blue Horizon (Pvt) Limited (award winning Exporter of Working and Fashion Gloves)
Punjab Group of Colleges, Lahore
Muhammad Ali Jinnah University - (Karachi and Islamabad)
University of Central Punjab
Purechem (pvt) Limited - (Manufacturer and distributor of chemicals at national and international level)
Makkah Foundation Society
Modern Floor Mills (pvt) Limited
Shcazoo Laboratories (pvt) Limited
Schazoo Pharmaceutical (pvt) Limited
Talon Sports (pvt) limited - (Exporter of Football, shoes and boxing goods)
Special Assignments:
Madina-Tul-Ilm (Guarantee Limited), Real estate;Costing of 32000 Kanal Land comprising period of 10 years
Taj Company Limited (Liquidation)
Leather Village Tannery (Fraud Detection)
Naseer+Fareed Chem (Fraud Detection)
Achievements:
Promoted to the role of Senior Audit Team Incharge within 6 months.
Successfully handled the complex clients and detected frauds.
Shel Petroleum, Caltex Petroleum, Lubricants and Pesticides business at large scale in the area.
Started my professional career by joining Ch. Asif Nazir and Co. as an Accounts Executive.
Contributions-Area of Impact:
Preparation of all set of financial statements including cash flows statement.
Prepares special financial reports by collecting, analyzing, and summarizing account information and trends.
Record and rectify general ledger transactions and subsidiary ledgers transactions.
Verify and record provisions and adjust periodic advances, prepayments and provisions.
Authenticate and countersign the balance confirmation certificate of Accounts Payable and receivables
Dealing with the Bankers and other financiers ensure timely reconciliation of balances.
Verify the interest charged by financiers.
CPA/C.A at final stage (pursuing towards completion) and completed Graduation in January 2006. While doing C.A got good exposure to dealing with the Auditing, Corporate, taxation matters in accordance with INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL FINANCIAL REPORTING STANDSRS LOCAL LAWS e.g. TAXATION, COMPANY LAW of small organizations to economically significant entities with billion plus turnover comprising of TRADING, MANUFACTURING AND SERVICE CONCERNS like; Sialkot International Airport Limited, Port Services Limited (A transportation and custom clearance company with its branches throughout the country) , Port Services Limited (A transportation and custom clearance company with its branches throughout the country) , National Communications Services (SMC-PVT) Limited; (Dunya T.V a world famous media tv channel) , Sialkot Dry Port Trust, Sialkot (Asia’s largest dry port) , Child And Social Development Organization (UNO supported project), Blue Horizon (Pvt) Limited (Asia’s largest Exporter of Working and Fashion Gloves), Punjab Group of Colleges, Lahore (Pakistan’s best and top level group of colleges through the country in private sector), Talon Sports (pvt) limited(Exporter of Football, shoes and boxing goods) HONDA City Sales (pvt) Limited. AND OTHERS: Team management (Forming, Norming etc.) good interpersonal communication skills. Preparing presentations verbal and non-verbal.