Ravi كومار

KEY AREAS OF EXPOSURE

Accomplishments
•To provide financial support to internal customers in relation to financial reporting, budgeting and forecasting through effective communication in order to meet the business needs and contribute to improving the current processes.
•Responsible for completing the accounting cycle for assigned Residential and Retail portfolio. (Revenue, Expense, Closing & Reporting).
•Ensure accuracy of sales and leasing contracts, conditions and information created in the system in accordance with the supporting documents and timely activation of the contracts.
•Ensure compliance of all financial documents and proper recognition of related expenses and costs.
•Ensure production of accurate and timely management and financial reports as per the deadlines.
•Review and verification of leasing and sales documents including but not limited to Lease Approval Forms, Lease Agreements, Sales Approval Forms, Reservation Agreements, Sales and Purchase Agreements, Statements of Accounts, Service Charge Statements, Business Case Proposals, Requests for Approvals, Tender summary Reports, Budget Details, etc, .
•Manage the process of completing the business plan, annual budgets, quarterly forecasts, and monthly reporting as per the agreed assumptions and deadlines.
•Manage the process of preparation of various adhoc reports as required by the management and assisting the investment team in preparing sales plans rollouts, cash flow, and projects feasibilities.
•Lead and coordinate with the Owners Association Manager in facilitating the computation of service charge and payment thereof.
•Ensure audit of initial service charge and reconciliation of bank and balance sheet accounts.
•Spearhead the process of Escrow accounting and recognition of the costs and revenue.
•Manage the process of coordination with the various departments with regards to internal and external audit.
•Assist the Financial controller in leading the Business Support team, setting the strategy of operations, and continuously contribute to improvement projects.
•Contribute to the various initiatives of process development & mapping, system automations and policies drafting and implementation.
•Effectively lead the finance team by ensuring setting & review of objectives, providing necessary feedback, developing training plans and opportunities.
•Ensure approved payments are released as per agreed payment terms and all supporting documents are in compliance with company’s policies & procedures and approved as per DOA, including timely settlement of Intercompany creditors and debtors.
•Ensure GRN’s are assigned to LPO’s on a monthly basis against completed works & services and cumulative monthly provision is revised as required.
•Liaise with Financial Planning & Analysis team and provide the cash flow inputs for weekly and monthly forecasts.
•To liaise with consolidation team and provide the cash flow inputs for weekly and monthly rolling forecast.
•To take an active lead in preparing and coordinating with the respective business to complete the budget and forecast exercise on quarterly and annual basis.
•Prepare monthly and adhoc management reports for retail business and coordinate detailed commentary for monthly business reviews.
•Receiving and checking intercompany and intra company invoices against the payments due and verifying the same in SAP as per the contracts.
•Monitoring Inter Company Module (ICM) reports for the respective businesses on timely and basis and ensuring no forced ICM for the businesses and further accepting the same.
•Analyzing P&L trend to ascertain accruals to be made on a monthly basis.
•Well-versed in IAS / IFRS, preparation of Financial Statements and knowledge of Dubai Real Estate Laws, guidelines and directives..
Key areas of Exposure (Senior Accountant)
•Prepared and presented the Financial Statements (Profit & Loss Account, Balance Sheet, Cash flow statement).
•Prepared the depreciated assets schedule to ensure depreciation rate is charged as per statute.
•Review collection reports to ascertain status of collections and outstanding balances and evaluate effectiveness of current collection policies and procedures.
•Supervise the account receivables in collecting the delinquent account receivables and report to senior management.
•Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
•Oversee and perform the process of collections, cash Application, credit management and billing activities in accordance with specific deadlines.
•Manage the monthly reconciliation of other AR related accounts (such as un-applied cash, unclaimed credits, accruals, bad debts, charge- backs & Credit Card).
•Monitor and reconcile customer account details for non-payment, delayed payments and other irregularities.
•Oversees and perform research to solve payment discrepancies.
•Generate and analyze aged account analysis as necessary.
•Review current policies and procedures and modify as necessary to ensure most efficient and effective methods are being employed.
•Preparation of AR schedules used for internal and external reporting.
•Establish the company receivables and work with other departments to resolve any outstanding issues.
•Apply customer payments by recording cash, cheques and credit card transactions.
•Active lead in preparing and coordinating with the respective business to complete the budget and forecast exercise on quarterly and annual basis.
•Prepare monthly and adhoc management reports and provide detailed commentary for monthly business reviews.
Overseas Accounting and MIS/ Reporting
•Preparing Fund requirement statement and Cash Flow on weekly and monthly basis.
•Preparation and analysis of leasing and sales cashflows for residential and retail properties.
•Reconciliation of Import purchase.
•Inter Company reconciliation - Overseas.
•Making cheques for overseas units as per the creditor’s statement.
•Formulating & implementing MIS & monitoring movement of key performance/business indicators (KPI’s).
•Generating & maintaining MIS reports for cash flow/debtor’s outstanding statements and costing, budgeting cash expenditure of profit and cost center.
•Coordinating with Managers for revenue & expenses forecasting. Preparation of excel reports for MIS reporting.
•Analyze business information to identify process improvements for increasing business efficiency and effectiveness.
Banking and Documentation
•Drafting, preparing and updating letter of credits, negotiating loan renewals, credit lines with banks, and collection of past due loans.
•Ensuring that Letter of Credit is in compliance with the banking regulations and financial institution policies.
•Making recommendations for improving policies supporting letter of credits.
•Answering customer inquiries with respect to bank policy and specific letter of credit financing.
•Determining and follow-up of advance and full payments in accordance with the letter of credit terms.
•Verifying the terms of credit such as amount, Insurance coverage, Bill of lading and and shipping conditions to determine the compliance and established standards.
•Deep knowledge of credit and collection policies, practices, and procedures.
•Knowledge of legislative codes governing letter of credits including the Uniform Customs Practice for Commercial Documentary Credits (UCP 600) which are maintained by the International Chamber of Commerce.
•Administering and checking of letters of credit, trade documents including, drafts, Commercial Invoice, Packing List, Bill of Lading, Shipment and Banking Advice, Certificate of Origin etc and reviewing documents and amending them as per requirements.
•Liaising with the private bank managers to resolve account documentation discrepancies.
•Documentation skills in Credit review for new and existing deals and Compliance policies.
•Handling overseas trade more effectively and efficiently by reducing the risks and hassles associated with exports/imports.
•Increasing the cash flow and bottom-line profitability through reduction of bank charges and other administrative costs.
NOTABLE ACCOMPLISHMENTS

•Developed a 10-year strategic plan for the company with rolling forecasts and annual financial budgets.
•Providing the monthly sales reports, expense analysis, Inventory reports.
•Designed and implemented a group restructure that resulted in clearer reporting lines, reduced staff costs and improved productivity and morale.
•Word of appreciation from every client linked with our organization.
•Interaction with the client on a regular basis to discuss changes in reporting systems, help review targets and set timelines with the cardholder sales manager.
•Single handedly implemented a future trend determination plan, thereby, received high accolades from the higher management.
•Ensure accurate generation, timely delivery and efficient analysis of daily, weekly and monthly reports, focused at creating precise and true records of performance and optimum utilization of resources.