Finance Manager
Saudi Bell Group Co
Total des années d'expérience :21 years, 9 Mois
Developing and managing budgets and forecasts, ensuring financial well-being and alignment with organisational strategy.
Providing financial analysis and recommendations to project managers and senior leadership, identifying areas of concern and potential opportunities for improvement.
Managing and maintaining relationships with banks, insurance companies, customers and vendors.
Preparation of project cashflows in coordination with the project managers.
Coordination with project teams to ensure timely and accurate billing, collections, and cash management.
Managing financial reporting, ensuring compliance with relevant accounting, and reporting standards and regulatory requirements for smooth and efficient completion of External Audit.
Ensuring compliance of monthly VAT (Value Added Tax), WHT (Withholding Tax) and Annual Zakat/ Tax Return as per Tax Laws.
Developing and maintaining financial policies and procedures related to project accounting, ensuring adherence to internal controls and best practices.
Providing guidance and training to project team members on financial and accounting principles. Collaborating with other finance and accounting teams to ensure accurate and timely reporting of financial results.
Preparing financial statements, in compliance with International Financial Reporting Standards (IFRS).
Ensuring completeness and accuracy of monthly closing of financial cycle to prepare Management Accounts.
Reviewing monthly branch reconciliations and branch financials.
Handle full spectrum of financial and cost accounting role. Monitoring Cost by comparing Budgeted Vs. Actual).
Preparation and filing of monthly VAT (Value Added Tax) Return as per ZATCA Requirements including RCM compliance.
Independently and successfully complied with VAT & Zakat Audits conducted by ZATCA.
Extended Support provided for Customs Audit Queries for last 5 Years.
Preparation and filing of Annual Zakat/ Tax Return in coordination with Tax Consultants. Successfully provided support for ZATCA’s Audit Queries related to Annual Zakat Returns.
Review and filing of Withholding Tax (WHT) Return as per ZATCA’s requirements.
Review the calculation of GOSI and ensure timely payment to obtain monthly GOSI Certificate.
Review the calculation and process End of Service (EOS) payments.
Manage the daily cash flow and ensure that the treasury reports are submitted regularly to CFO.
Review and finalize the Vendors and Customers balance reconciliations.
Review and approve all journal entries and payment vouchers.
Review and approval of payroll in coordination with HR Department.
Evaluate the ERP accounting systems and provide recommendations to IT team for improvements.
Liaise with External Auditors for the audit of the financial statements.
Review and oversee system design to ensure accurate and timeous financial reports.
Evaluate and developing procedures to improve and maintain internal controls in coordination with Internal Auditor
Providing management reports as required by Top Management
Monitor adherence to departmental policies, procedures and controls covering all areas of accounting so that relevant procedural/legislative requirements are fulfilled;
Preparation and analysis of financial statements on monthly, quarterly and annual basis;
Verification/ Analysis of Output/ Input VAT (Value Added Tax) Reports in compliance to GAZT Requirements;
Maintain effective recording of accounts receivables, accounts payable, fixed assets, inventory and general ledger activity to provide accurate information on financial parameters of the organization within prescribed deadlines;
Verify and approve of payroll for administrative staff and workers;
Designing effective budget models for departments and the entire company;
Manage the verification and review of all expenditure documents relating to employee expenses and maintenance to assess and confirm compliance with all parameters;
Respond to specific requests and queries from internal and external auditors in a timely manner and provide assistance to facilitate completion of audit proceedings;
Coordinate with internal audit to conduct any special investigation or review necessary to resolve problematic areas based on accounts reports;
Coordinate with external audit to ensure the validation of financial statements and the receipt of a Zakat certificate.
Developing and managing financial systems, implementation of accounting software and training to new and existing staff as needed;
Analyzing changes in financials and advising management accordingly;
As a Credit Controller
Analysis of accounts receivables aging and monthly reporting to Group Finance Manager;
Administer and enforce credit and collection policies and procedures;
Perform in-depth financial analysis and provide credit line recommendations for customer accounts;
Pro-actively share insights with the Country Sales Manager/ Regional teams to achieve common goals;
Review status with Customer Accounting Team or Credit Controller on a monthly basis with effective follow up action resolution process;
Achieve Monthly direct sales salesman confirmation and quarterly customers balance confirmation. Resolve all variances on time.
Regular follow up with sales team to evaluate delinquent customers and report the specific provision accordingly;
Develop strategies and goals to minimize bad debt write-offs;
Periodic customers credit review and discuss with Sales Management to comply with the Group Corporate Policy;
Recommend changes to credit policies and update procedures in line with corporate strategies;
Periodical visits to branches and customers to resolve issues and maintain effective credit control;
Manage customer credit files;
Re-structured and maintain controls over credit and cash sales system;
Provide for ongoing training of the sales staff for Cash/ Credit Sales and Collection;
Circulation and follow up of periodical collection plans to sales staff;
Effective execution of internal control as per Group Corporate Policy.
- Collating, preparing and interpreting reports, budgets, accounts and financial statements;
Compliance of monthly e-filing of Sales Tax and Income Tax returns;
Undertaking strategic analysis and assisting with strategic planning;
Producing long-term business plans;
Undertaking research into pricing, competitors and factors affecting performance;
Controlling income, cash flow and expenditure;
Managing budgets;
Developing and managing financial systems/models;
Arranging new sources of finance for a company's debt facilities;
Liaising with auditors to ensure annual monitoring is carried out;
Developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organizations;
Analyzing change and advising accordingly;
Supervising staff.
VARIOLINE having a Joint Venture with SANDEN INTERCOOL, THAILAND and is a sole manufacturer of VISI COOLERS in Pakistan. Our key clientale include COKE, PEPSI, UNILEVER, NESTLE.
In the Company my responsibilities include
- Day-to-day functional responsibility for accounting areas such as payroll, general ledger management, accounts payable, accounts receivable, fixed assets and consignment inventory.
- Generate financial statements (balance sheet, profit and loss, cash flow) monthly, quarterly and annually.
- Compliance of Sales Tax/ Income Tax monthly returns submitted to Govt. Departments.
- Develop procedures and accurate implementation of the recording, classifying, and summarizing of daily financial transactions.
- Ensure general ledger, subsidiary ledgers, and other financial records and schedules are accurately maintained.
- Liaison with external auditors and follow up till signing of audit report.
- Institute policies and procedures capable of protecting the business resources against waste, fraud, and inefficiency.
- Ensure timely follow up of accounts receivable and payable.
- Evaluates & implements internal and external audit recommendations & provides feedback to management on results
- Implement budget and forecast preparation schedule by collecting relevant business data and projections from the line departments and provide relevant analyses and feedback to enable finalization of the budget and forecast proposals and all related reports including profit & loss, balance sheet and cash flow statements.
- Provide support, service and advise in all finance matters to the company’s management.
- Prepared and Maintain Fixed Assets Register
- Costing of imported raw material and providing support to import department.
- Dealing with the leasing companies and financial institutions for acquisition of assets.
- Handling all corporate matters of the Company
Conduct of statutory audits and system audits of various industries;
Sales Tax & Income Tax Audits in compliance to Law;
Conduct of internal audits and designing the system of internal controls.
Planning and Development of work methodology and work programs
Assessment of the financial statements in order to ensure their compliance with the requirements of the local laws, Regulation and International Financial reporting Framework (IFRS).
Job Supervisory and review
Holding meetings with client personnel to resolve issues and removal of the expectation gap.
Providing assistance to companies in the preparation of the financial statements under local statutory framework.
My responsibilities in the audit department, included finalization of audit with the managers and partners and in later stages of my articles also included supervising them. I was also responsible for the compliance of quality control policies of the firm during audits.
Stock Take exercises performed visiting the clients production areas
Performed Internal Audit as Supervisor of DHA EME Cooperative Housing Society & HIMOUNT PHARMACEUTICALS.
Special Assignments:
Six Years audit of Employees Provident Fund & Staff Gratuity Fund of Total Parco Pakistan Limited
Advances to employees (Pakistan & Gulf Offices) since 1995- 2003
(Descon Engineering Limited)
Income Estimation assigned by ABN Amro Bank Ltd. & Faisal Bank Ltd.
Sugar Sampling exercises performed at different Sugar Mills assigned by PEPSI Cola International (Pvt.) Ltd.
CORPORATE AND SECRETARIAL SERVICES
Job Title Assistant Manager
Reporting To Partner
Managing the Corporate Law Department and dealing with corporate clients. Responsible for doing research work and handling corporate and individual law matters, incorporated various companies under the Companies Ordinance 1984.
Interface with Securities and Exchange Commission of Pakistan (SECP), Lahore Chamber of Commerce (LCCI), Sales Tax Department and Federal Board of Revenue (FBR). Formed various Partnerships under the Partnership Act 1932.
CA - Finalist
Fellow Public Finance Accountant (FPFA-4485)