Accountant
Falcon Pack
Total years of experience :12 years, 8 Months
This is the flagship company of the Falcon Group, which is the leading manufacturer and distributor of disposable packaging products for the food service and consumer markets in the Middle East.
Significant Highlights:
Preparation of the Bank Transfer Letters for employee leave payments, personal loans and end of service settlements, and the subsequent recording of the transactions in the ERP system.
Receiving and checking completeness of documents received from the concerned parties for inventory items including the additional cost-related documentation such as Letter of Credit opening, amendments, freight charges, Bill of Entry etc. before calculating the total cost of the foreign purchases.
Computing the unit cost of the items purchased, and determining the Costing factor for each shipment/vendor, to analyse the foreign exchange impact of payments.
Receiving the foreign purchased items on the ERP system, that includes trading items, spares and raw materials.
Passing the invoicing entries into the ERP, ensuring timeliness and accuracy of the entries, and submitting to the Assistant Accounts Manager for posting approval.
Analysis of all relevant expenses, and landing cost calculations
Regular analysis on foreign vendor activity
Inventory control and movement evaluation process.
Invoicing of non-inventory item purchases such as services, supplies and other company related expenses. Similar functioning as for the Foreign Purchases.
Key Deliverables:
Addressing the issues relating to Quality holds, Quantity and Price discrepancies on foreign purchases
Liaising with the Purchase department to resolve all queries.
Month end reconciliation and management reporting on all foreign vendors.
Updating the inventory transfers (to different locations), and inventory issuances after reviewing the relevant documentations from warehouses.
Reclassifying the expenses based on the nature and allocate to appropriate cost centres based on the location, department, division etc.
Supporting in the implementation of A/P related business efficiency improvements and simplify the A/P function and invoicing process
Amsafe Bridport specialises in designing and manufacturing engineered safety restraint equipment and security products for aviation, commercial, defence and transport industries. The company also provides airframe and engineered textile products, barrier solutions, cargo handling, MRO services and RPG protection products (for military vehicles). It is also one of the leading manufacturer of seat belts for commercial aircrafts.
Significant Highlights:
• Proactively involved in annual operational budget and business planning exercise, resulting in saving 40% of the over budget through material and inventory control guidance.
• Prepared accurate shipment reports with sales dues, and presented to product line managers and sales leads, thus minimising accounts receivables days to less than 60.
• Conducted operational expenses analysis versus budgets for military/defence contract projects, thereby reducing billing statement cycle time from 2 days to 2 hours.
• Monitored company capital expenditure, accordingly recommended ideas relating to capital spend and achievement of capital allowances.
Key Deliverables:
• Prepared and presented high level management reporting while adhering to group financial reporting policies and UK GAAP reporting.
• Involved in the preparation of monthly management reporting pack, dashboard and variance analysis.
• Reviewed monthly balance sheet reconciliation as well as control Procedure documents for SOX compliance audit purposes.
• Prepared financial reports to identify monthly, quarterly, yearly performance of the company.
• Designed financial reporting and budgeting templates in addition to coordinating with the internal and external departments.
• Maintained close communication with the top management including managers, controllers and PLM heads.
• Prepared detailed KPI reporting highlighting each revenue stream, advertising and exhibition expense. Analysed monthly performance; actuals versus budget.
• Involved in forex analysis of sales, COS and bookings while highlighting currency impact.
• Effectively liaised with the auditors (EY & Deloitte) and resolved financial audit queries.
• Conducted monthly business survey submissions and provide reporting to Office for National Statistics, UK.
• Complied cost analysis based on management accounts and prepared presentations for the management.
• Monitored actuals versus budgeted per caps as well as sales and margin targets through effective yields.
• Identified and highlighted risks relating to project and provided information to product line managers.
• Created and maintained ad hoc reports and analysis as per the instructions of senior management.
Significant Highlights:
• Played an integral role in managing shipments and associated paperwork including LCs, TTs, insurance, custom declarations, resulting in standardising the process to cut down on red tape.
• Instrumental in developing an effective financial management mechanisms and minimising financial risk/cost.
• Conducted internal analysis to develop and execute business propelling strategies for supply chain management and inventory management, which minimised inventory by 22%.
• Rationalised the due diligence process in contract signings with international retail brands.
Key Deliverables:
• Monitored and maintained purchasing activities relating to imports, local and consignments, and handled foreign and local supplier payments.
• Involved in budgeting and forecasting based on business performance and strategic plans.
• Reported on KPIs (sales, earnings and capacity utilisation) as well as conducting detailed analysis of low-/non-performing showrooms/brands.
• Managed all debtors and liaised with the sales managers and showroom managers on target account collections while implementing a delinquency plan.
• Determined prices of all the products in accordance with the pricing formulas and landing cost.
• Closely worked with the showroom managers, buyers, planners, director of sales and finance manager; monitored other business areas to ensure structured coordination of information gathering and data collating.
• Effectively reorganised the GRN, pricing and margin reports as per product category and brands.
• Evaluated and analysed investments and cash flows on monthly basis.
Significant Highlights:
• Evaluated performance of company business through seasonal patterns, optimal business forecasting and competitor benchmarking.
• Involved in information management, data collating and data mining relating to all customer account reconciliations while developing and implementing KPIs for member accounts.
Key Deliverables:
• Prepared and provided respective loan solutions for high and mid-market customers as per their requirements of alternative funding, also assessed loan policy decisions.
• Participated in business planning, auditing, cash flow projections, credit approvals, industry research as well as SWOT and PEST analysis on the market trends in borrowings and savings.
• Submitted quarterly returns to Financial Services Authority (FSA).
• Prepared board papers, senior management reports and presentations (PPTs) to assist board members in taking decisions relating to company financing.
Local clothing manufacturer for export in Sri Lanka, operating with facilities in BOI Zones.
- Evaluated and Analysed Investments and Cash Flows on monthly basis.
- Coordinated with external parties on Supplier Sourcing Process - Evaluation and Selection
- Finalised on ledgers for preparation of P&L, Balance Sheet & Cash Flow
- Handling foreign and local supplier payments and the AP Ledger reconciliation of Vendor accounts
- Passed necessary Investments, Accruals and Prepayments related Journal Entries for Financial Accounting purposes.
- Prepared Audit Schedules and Management Accounting Reports for annual and quarterly audits.
- Involved in the compilation of VAT Returns with Senior Accountant
- Complied cost analysis based on management accounts and prepared presentations for the Senior Management.