Senior Accountant
Red Sea International Company
Total years of experience :23 years, 3 Months
Financial & Management Accounting
• Month end MIS reports, financial statements review, scrutinize & closings.
• Prepare monthly divisional Income statements cost centre wise. (Construction/Manufacturing Div., Facility (Hospitality) Management Camp Operations (FMCO) Div., Leasing assets and company’s own compounds)
• Performs complex accounting activities/analysis relating to the general ledgers.
• Able to make special financial reports by collecting, analyzing, and summarizing account information and trends.
• Payroll administration, management, monthly review, approval and department wise analysis & variations report.
• Timely customer invoicing, accounts receivables updation, follow ups, collections, with customer, ageing reports analysis & reconciliations.
• Update accounts payables, vendor reconciliations for financial discrepancies by collecting and analyzing account information. (Ageing analysis)
• Credit control management, validation of vendor invoices and approvals, and ensure timely payments are executed.
• Project management accounting & costing, review of projects for % of completion, estimate to complete costs and progress billings and revenue recognition as per IFRS.
• Oversee the day-to-day accounting processes ensuring that proper books of accounts are maintained for effective financial control.
• Maintain fixed asset register, schedules (PPE & IP), Depreciations, detail analysis on CAPEX/OPEX, monitoring additions/disposals.
• Petty cash, process expense reports and prepare payments by verifying documentation, and requesting disbursements.
• Accounts Integrity, develop & maintain necessary accounting controls and processes to ensure financial targets are met and to assess the need for any remedial action.
• Half & yearly inventory inspection kingdom wide, Inventory audit with external Auditors.
• Ensure business transactions are recorded & reported in accordance with generally accepted accounting principles- GAAP.
Management Information System, Performance Management, Planning, Budgeting & Forecasting
• Monthly comparative variance analysis on Income statement, Balance Sheet and key ratios.
• Assist to provide ad-hoc reporting requirements from corporate senior management and audit committee.
• Intercompany management, reconciliations, reporting, posting journal entries.
• Leads the analysis of current and historical financial operations and estimating future expenditures for budget preparations.
• Prepare monthly financial rolling forecast Income statement.
Working Capital Management
• Closely monitoring on regular basis for billed and unbilled accounts receivables out-standing.
• Review of aged & slow-moving inventory and reporting to operational GM’s, President on monthly basis.
Treasury & Taxation
• Closely monitor & prepare consolidated banking facility report. (Letter of Guarantees (LG’s), Letter of Credit (LC’s)
• Liaising with Bank representatives on annual facility renewal requirements.
• Prepare & review VAT (Value Added Tax) statement and filling returns on online.
• Evaluation of VAT external audit from Govt. authority with strategic thinking and planning.
• Compliance to WHT (withholding tax) as per GCC Law & regulations.
• Manage In kingdom Total Value Add (IKTVA) program and ARAMCO certified external audit for the Company.
• Assist in preparation of annual Zakat return requirements.
Compliance and Control
• Liaising with Internal & External auditing of the company.
• Deeply participating in fraud prevention and loss control.
• Maintain financial security by following internal controls as per company rules, regulations and policies.
• Identifying cost saving and control measures.
• Handling Purchase, Procurement of materials & negotiation with the Suppliers.
• Material Issue/ Material Receipt consumption reports project wise.
• Managing books of Accounts & day to day works.
• Responsible for Company accounts up to finalization as per International Accounting Standards.
• Reconciliation with the Banks, Suppliers & Customers.
• Employee working hours calculation project wise.
• Preparing the analytical review, performing ratio analysis, and reporting reasoning for significant variances.
• Responsible for Audit execution, Work assignment, Team building, etc.,
• Actively attending the meeting with the clients & senior staff meeting to abreast key challenges in Audit assignments.
• Accountable for team management, meeting tough deadlines, work quality standards.
• Played a pivotal role in detecting fraud in inventory verification.
Leading a Team of 4 Persons (Two Engineers, Purchaser and Accounts Assistant)
•Banking Finance & Assessments of Firms Records by Concerning Income Tax & Sales Tax Authorities.
•Maintaining TDS (Tax Deducted at Source) REGISTER and Follow up for Non Receipt of TDS CERTIFICATE.
•Maintain core business relationship with Governmental Cliental like, BPCL, ONGC, GAIL, BHEL & IOCL.
•Accountable for team management, meeting tough deadlines, meeting work quality standards, drafting of audit issues and control issues, meeting standards of work documentation, etc.,
Key Result Areas:
• Preparing Monthly Inventory Reports & Physical Stock Verification.
• Monthly Submitting SALES TAX Returns to Govt. Authority.
• Prepare Half-yearly provisional income statement.
• Finalization of Books of Accounts of HO.
Significant Highlights:
• Visit Major Suppliers like, Samsung, Sony, Daewoo.
• Keep scheme records readily available for Management.
Prepare profit & loss a/c. on monthly basis.
3 years Accounting & Auditing