cost controller
Oman LNG LLC
Total des années d'expérience :17 years, 2 Mois
Responsible for the timely preparation of Oman LNG annual operating and capital budgets for endorsement and approval by the shareholder committees and the board. Provide comprehensive financial services to the assigned departments such as preparation of annual budgets, monitoring and periodic review of expenditure, in an effective and timely manner with due regard to compliance with the company financial policies and procedures.
• Engage with business heads from various departments in preparing annual budget, cost reporting, performance reviews, variance analysis, cost trend and forecast analysis.
• Active involvement in cost leadership initiatives which includes Lean, COR, system enhancement and creation of high quality management information reports.
• Coordinate with project sections to monitor, control and report CAPEX and ensure that figures are accurately reported. As well as attend all CAPEX financial enquiries and provide guidance as a subject matter expert.
• Ensure proper and timely recording of expenditure, including the execution of the monthly and year end activities, using ERP systems with the agreed corporate Calendar and in compliance with IFRS’s and IAS’s.
• Maintain sound cost management ledger structure that serves the cost reporting and benchmarking.
Highlights:
• Worked closely with Oman LNG project team for the effective delivery of USD 500 million value project (CAPEX) which includes milestone cost analysis, creation of chart of accounts, define project work breakdown structure, system enhancement and project capitalization.
• Acted as finance focal point for the worldwide LNG plant performance analysis - benchmarking exercise which was overviewed by Solomon Associates.
• Active member in cost optimization drive which significantly brought down the company OPEX by more than 10%.
• Reported to Chief Financial Officer; overall in charge for, Costing, Budgeting, Cost reviewing, Revenue analysis, Monthly management reporting through extensive variance analysis and cost control suggestions.
• Worked on ERP Software-Navision; actively involved in accounting functions by preparing year end schedules, doing reconciliations, closing of accruals & prepaid accounts monthly and finalisation of financial statements and consolidated reports.
• Steered the preparation of cost sheet, fixing & revision of overhead rate, inventory valuation, and cost allocation and variance analysis.
• Involved in process improvement and cost leadership; automated regular accounting jobs by utilizing advanced excel functions, cost optimization by reducing production setup time and stoppage of production due to raw material shortage.
• Acted as Finance focal point in setting the KPI’s for team and process, which resulted in timely reporting of financial statement and achievement of company objectives.
• Developing and implementing Finance/Accounting plans, policies and procedures in line with corporate Finance strategy and performed cost benefit analysis related to projects / programs
• Engaged with internal and external auditors for the timely completion of audits.
Highlights:
• Developed a costing system for company subsidiary, Atyab Bakery LLC, resulted in cost reduction, fixing product line and effective pricing which helped in winning new orders.
• Automated various accounting and costing related reports using advanced Excel skills that had previously required long hours to complete.
• Led the production process improvement in Oman Flour Mills through reducing production set up time, changing employee shift timing from 8 hrs three shifts to 12 hours 2 shifts and introduction of scheduled maintenance programme
• Managed accounts & costing and worked on ERP Software - ORION
• Maintained all accounting & financial information for Alkhamis trading retail and wholesale activities
• Generated and submitted:
o Comparative sales & stock report
o Stock holding report
o Brand wise profitability report
o Showroom wise performance report
o Monthly, quarterly and yearly material requirement report
• Involved in monthly, quarterly and annual reconciliations, audit work papers and schedules as requested
• Reconciled credit card payment & cash deposits from the showrooms
• Executed costing activities for company subsidiary, General Leather Mfg Co. LLC and performed the following activities
o Prepared the budgets & provided comparative report of actual and budgeted performance
o Drafted cost sheet, fixing & revision of overheads rate, prepared overhead analysis report and offered recommendation for cost control
o Performed model wise time measurement analysis and assisted the management for fixing the product mix to obtain maximum profitability
• Steered functions of accounts receivable section, managed accounts of Australian based telecommunication firm
• Executed:
o Activities as per seven billing systems
o Bank reconciliation on a daily basis
o Billing system reconciliation on a weekly basis
• Prepared cash book on a daily basis and provided details to the treasury, about the expecting cash inflows
Worked as a faculty for the CMA program and handled the topics from management accounting and economics.
• Successfully completed ACCA examinations in two years.
Passed CMA in first attempt with an aggregate percentage of 80.