Finance Manager
Eye Mart Optics LLC (formerly Roots Eyewear LLC)
Total years of experience :40 years, 3 Months
Achievements/Tasks Worked extensively on the preparation of financial statements and the timely consolidation of inter-company transactions for the branches in 7 countries including UAE, KSA, Egypt and Jordan. Maintained accounting controls and recommended policies for statutory requirements and VAT compliance for all countries. Assisted with payroll using the Wages Protection system (WPS) and distributed paychecks to employees. Managed banking operations including daily cash deposits, Letter of Credit opening, Local Bill Discounting and Trust Receipts. Handled the preparation and consolidation of the Point of Sales summary reports for all retail outlets, including monitoring submission of insurance claims and credit card reconciliation from sales collection. Reported to Managing Director and worked closely with Accounts and IT teams during interim and year-end external audits. Tracked the company's financial performance and helped sustain the business during challenges faced as a result of Covid-19.
Achievements/Tasks Efectively maintained the accounting ledgers including the month-end closure and reconciliation reviews. Carefully monitored accounts by balancing journal entries and providing timely corrective actions for variances. Successfully managed payroll, incentive calculations and personnel files. Aimed to meet the needs of long-term individual investors by timely preparation of financial and due-diligence reports. Prepared accurate reports for VAT Returns filing for all divisions. Managed the working capital requirements of the business by securing financial facilities from the bank and seeing to its timely renewal. Reported to Managing Director and served as manager to accounting staf. Worked collaboratively with two separate audit firms at the time the company opted to sell 17 outlets to ensure the audit reports were delivered on time.
Achievements/Tasks Lead and managed a 6 person team of accountants and invoicing staf to accomplish the accounting functions. Facilitated the maintenance and monthly close of all accounting ledgers including the review of account reconciliations and journal entries. Up-to-date preparation of all financial reports, including Profit and Loss Statement, Balance Sheet and Statement of Cash Flows required by auditors during the interim and year-end audits. Provided timely explanations of variances between actual results and forecasts/budgets to facilitate corrective action and recommendations to management, where necessary. Helped to oversee the general accounting processes of Fixed assets and Related party accounting and financial reporting of all entities. Coordinated with internal and external auditors including the preparation and review of audit plan and reports. Successfully streamlined the monthly submission and settlement of AED 3 million worth of private taxi accident and repair claims.
Achievements/Tasks Dubai, UAE Provided reports, ad-hoc analysis, annual operating plan budgets, monthly cash forecasts, and revenue forecasts. Handled all monthly bank reconciliations and monthly reporting. Maintained books including bank statements, transactions, and all receipts. Processed accounts payable and accounts receivable. Prepared payroll and direct deposit accounts. Tracked the documentation of imports and exports on a monthly basis. Helped to implement a new user-friendly accounting software (VisAcc) to replace the manual system and successfully trained accounting and inventory staf to eliminate backlogs. WORK EXPERIENCE
Achievements/Tasks Lead and managed the accounting division, including selection, hiring, training, and appraisal of staf. Oversaw the maintenance and timely closure of accounts including the reconciliation of key areas such as Accounts Receivables, Accounts Payable, Inventory, Fixed Assets and Inter-company transactions. Monitored the purchase costs, retail prices, inventory controls, and year-end inventory counts in close collaboration with the inventory control team. Ensured timely completion and review of all Balance Sheet reconciliations and communication on findings to investors. Efectively acted as a liaison between internal and external auditors and the accounting staf during reviews and audits to ensure timely completion and compliance with all qualified requests. Secured bank credit facilities worth AED 12 million to help the business improve working capital needs and import a new line of goods from suppliers in Italy, France, and Japan. Successfully implemented the migration from manual to automation systems for general ledger, sub ledger, invoicing, inventory, payroll and Management Information System (MIS) reporting based on in-house requirements. Helped to design and implement procedures for the new accounting and inventory systems.
Achievements/Tasks Worked both independently and in a team to conduct internal audit visits and surprise investigations for the group company's subsidiaries, joint ventures, and afiliated businesses. Developed and implemented corrective action plans for weaknesses in processes and controls as indicated by audit findings. Aided in the review and issuance of leave clearance for the group's 1, 500 sales staf to ensure that all dues were collected and handover was completed properly. Helped to resolve the Oracle system's missing documents issue and retrieved 500 invoice-related documents on average monthly.
Achievements/Tasks Reviewed the journal entries, allocation of overheads, monthly payroll and accruals prepared by accountants. Assisted in the preparation and review of the financial statements and periodic decision support reports to management. Managed various accounts analysis including checking the accuracy of account reconciliations. Assisted in preparation of tax schedules and coordinated tax returns for the group. Facilitated in introducing modifications to the internal control system that made it easier for the accounting and financial operations to run smoothly and to clear backlogs within remarkable time. ARTICLESHIP
Eficiently conducted statutory and financial audits of private firms, hotels, and national and cooperative banks (Canara Bank & Syndicate Bank) within the stipulated time. Conducted tax audits including the review and filing of Income Tax and Sales Tax returns. Meticulously documented audit procedures in the work paper for the analytical and substantive testing, including reports on the audit findings and rectifying journal entries. Assisted in the timely preparation of PBC (Provided by Client) lists, confirmation letter requests, management representation letters and draft audit reports for management review.
Special Subjects-Costing and Income Tax
