Accountant Accounts Payable
United Arab Shipping Company
Total years of experience :18 years, 3 Months
1. GL Reconciliation for Major Payables Accounting Heads, Maintaining Control Accounts
2. Assist in Container Financing, Structured financing Transactions through preparing cash flow requirement
1) Management Reports/MIS.
i) Analyze data dump for cost centers CMD, Trade, Fleet to generate customized reports
ii) Lease Schedules (For containers acquired on Operating and Finance Lease Agreements)
iii) Variance analysis through Charts and Scenarios
iv) Vessel Expenses analysis
v) Other reports.
3. Updating all the Terminals, Ports and Feeder invoices from Agencies in Europe, UK, America, Asia & M.E
4. Assure that all the expenses are as covered under relevant budget
5. Assure the recognition of all the Assets and Expenses is as per IFRS
6. Coordinating with user departments
7. Analyzing accounts payable days outstanding, supplier balances and accuracy in supplier accounts statement
8. To perform workings to get the maximum discounts and credit notes from supplier
9. Perform check on all the purchases for the New Vessel Building and Corporate purchasing done in the company
10. Validating Invoices against Contract, Supplier Reconciliation, Recording and checking Transactions for all Purchases, Leasing, Slot reconciliation, Container Purchases, Terminals Handling, Container Repairs.
11. Coordination with internal and external auditors
Accounts Operations
1. Recognizing the revenues for cash and bank shipments in the INFOAXIS on daily basis
2. Reconciliation of the outstanding balances under cash accounts
3. Reconciliation of the outstanding balances of other station for specific accounts
4. Issuing the Invoices for Bank and Cash customers on daily and Adhoc basis
5. Checking the accounts reflecting the correct rates as per the contracts established
6. Preparing for the Debit and Credit notes
7. Preparing for the discounts notices for certain cases
8. Satisfactorily process all the month end procedures including the Trial checking of invoices and
their settlement
Reporting
1. Preparing the pivots for the settled, outstanding and discount cases for onwards submission to the heads of the teams and other department for the approvals
2. Preparing the pivot reports for the specific accounts to analyze the shipments records
3. Analyzing the trends in the accounts of customers to monitor their business trend
4. Preparing specific reports as per the request of the customers and the internal teams
Analysing the data base of monthly shipments, trend analysis, budgeting etc
1. Checking and clearing all the Foreign Currency Nostro accounts maintained with correspondent banks
2. Negotiating the Foreign Exchange rates for all the import and export transactions with treasury as follows:
a) Hedging, Forward Cover/Forward Booking
b) Sport Rates
c) Dealing with all the treasury matters
d) All the daily buying/selling of currencies against the visible/invisible imports/exports
e) Discounting of foreign bills for short term and long term contracts
f) Coordinating wit clients-Treasury for sufficient balances in Nostro accounts for upcoming
maturities
g) Arranging Swap among different banks’ treasury through RTGS (Real Time Gross Settlement)
h) Maintaining the income from Multiple Banks financing agreements to one project.
3. Reporting to SBP on the International Transaction Reporting system (ITRS)
4. Export Financing : Negotiating the Sight Document, Advancing funds as per the approved limits against the deferred LC and Usance LCs Documents
5. All the Export related reporting for Head Office, and Internal Management Reporting.
6. Complex transaction of Pre-Shipment and Post Shipment Financing with SBP.(Export Refinance)
7. LC advising, Transfer, amendments and cancellations.
8. Inward/Outward Remittance
9. Document Scrutiny as per UCP 600, ISBP, URC, URR Foreign Exchange Regulations etc.
IMPORT DIVISION
1. Issuing Credit against Sight, Acceptance and Deffered Terms, Including the services LC’s
2. Reimbursement and Confirmation arrangements
3. Payments against LCs
4. Documents Scrutiny as per the stated laws
5. All the reporting related to Imports
6. Import Financing : FIM, FE 25 USD Loan, PAD etc
7. Maturity Follow-up
8. Preparing related SWIFT messages such as MT 700, 707, 740, 742, 754, 752, 799, 996, 760, 103, 202 etc
My studies cover an in depth knowledge of Financial Accounting, Financial Management, Management Accounting and Auditing including IFRS and IAS’s, it also encompasses the Auditing standards ISA’s. This certificate has a worldwide recognition and maximum exemptions in CIMA (UK), SMA (Canada) ACA, ICAEW, CIA etc. Major Subjects Studied : Financial Management, Advanced Audit, Management Accounting, CISA, Integrated Management, Corporate Laws, Cost Accounting, Advanced Financial Reporting, Advanced Accounting, Business Mathematics, Business Strategy, Marketing Management.
Includes the study of Macro, Monetary, International & Mathematical Economics
Advanced Accounting Statistics Cost Accounting Business Law