Accounting Supervisor
King Fahd University of Petroleum & Minerals
مجموع سنوات الخبرة :17 years, 1 أشهر
Under sponsorship of SRACO company
Manage grant accounting activities; monitor, prepare and submit reports of all financial activity of various global sponsorship program; Prepare monthly spreadsheets of actual fund expenditure vs budget.
Handle the preparation of annual budget & forecast of the College of Petroleum Engineering and Geosciences and present to the finance manager.
Examine department chairman, faculty, staff and student expenses and adjust for allowable reimbursements according to the guidelines as set by the KFUPM-CPG; analyze expense reports and provide recommendations on cost reduction practices; educate and train department chairman, faculty and staff on expense tracking, allowable expense reimbursements and submission guidelines.
Prepare departmental cost analysis for management report and inquire for clarification for any variances against budget.
Participate in accurate and timely closing of monthly accounts; closing procedures include bank statement reconciliation, expense analysis, reconciliation of General Ledger accounts and preparation of financial statements (balance sheet, income statement and cash flow statement).
Successfully implemented the Oracle ERP system as per requirement of the institution.
Lead and train two (2) accounting analyst and one (1) finance assistant.
Develop accounts payable, cash management and petty cash fund policy and procedures for College of Petroleum Engineering and Geosciences.
Perform test of controls to verify the effectiveness of control procedures and identification of any non-compliance.
Monitor procurement activities from the release of procurement request up to issuance of purchase orders and awarding of contracts; review documentation and ensure the deliverables are duly approved by the proponent prior to the release of payment.
Examine vendor contracts for any irregularities and non-compliance of agreement as per terms & condition and communicate the results to the Finance and Admin Manager.
Review and calculate value added tax (VAT) and withholding tax (WHT) prior to payment to General Authority of Zakat and Tax (GAZT).
Prepare monthly/yearly financial reports (management & tax) consistent with Group policies and International financial reporting standards (IFRS).
Compute annual tax due & prepare schedules as per Department of Zakat and Income Tax (DZIT) requirement.
Prepare annual budget & forecast and present to the finance manager for review and approval.
Provide Cost Analysis of on-going Job against budget and monitor progress billing.
Train and lead three (3) junior accounting staffs.
Examine the weekly bank reconciliation and ensures that reconciled in cash GL accounts.
Review accounts payable, accounts receivable and general ledger journal entries prior to posting.
Provide design of operation work flow process of procurement, sales and accounting department during the start-up of SAP ERP system implementation.
Assess the applied practice of operational personnel for stock inventory receiving and issuance if it is aligned to recommended control procedure of the organization and check if those controls are overridden.
Conduct monthly physical inventory of raw materials and store consumables to verify accounting records, operating documents and detect discrepancy results from theft.
Reaching out to vendors and suppliers with Confirmation Balance Request especially when vendor ledger shows a one or more open invoices. This is to ensure invoices have been properly recorded.
Confirm accounts receivable to detect common concealment methods such as lapping, fraudulent write-offs, force balancing and debiting fictitious accounts. Contact customers directly and ask them to confirm the amounts of unpaid accounts receivable as of the end of the reporting period.
Examine supporting documents of Sales Invoice prior to posting to determine whether a sale has actually taken place. Ensure proper accounting of revenue recognition to avoid overstated revenue reporting.
Ensure the cash is utilized correctly by reviewing the receipts and petty cash log which is a running tally of petty cash totals over time.
This program integrates a liberal arts foundation with professional fields of study in business, computing and accounting. The emphasis is on applied and hands-on training that prepare the student to step into a job immediately upon graduation in commerce and industry, government, not-for-profit organizations, or in enterprises as self-employed in Philippines and abroad.