Accounts and Finance Manager
Binhendi Enterprises LLC
Total years of experience :14 years, 7 Months
Binhendi Enterprises LLC is one of the UAE’s leading and most respected business conglomerates engaged in trading, fashion, real estate, watches and jeweler, construction, media and advertising. The group successfully introduced many world-renowned high class brands to the UAE.
Working as Accounts and Finance Manager at Binhendi Enterprises LLC, Major responsibilities are:
• Ensure effective implementation and enforcement of the approved budget; monitor and report on budget variance and identify key issues and potential corrective action.
• Provide key financial information within established timelines to the CFO in areas such as operating results and budget versus actual and report any issues with respect to planning and budgeting to the CFO.
• Ensure timely preparation and communication of periodic financial reports to Group Corporate Finance based on the guidelines defined.
• Manage financial reporting processes, monitor progress against budget and carry out periodic reviews, performance and valuation of assets and report findings to the CFO.
• Work with Group IT to ensure the overall accuracy, completeness, timeliness and usability of system generated financial data.
• Monitor the ongoing financial performance of the company and provide continued visibility to management.
• Monitor the day-to-day cash needs for the company and develop comprehensive treasury management strategies and cash reporting mechanisms (including daily and cash in transit reporting) to ensure adequate liquidity.
• Ensure the implementation and enforcement of the established financial strategy as well as the financial policies and procedures and systems, identifying opportunities for continuous improvement.
• Design and maintain an effective control environment over all key financial processes including accounts receivable and accounts payables as well as accounting and reporting.
• Manage the external audit process including preparation of year end and interim financial statements to be produced in line with the group and up to date IFRS guidelines.
• Provide financial and commercial analysis for business development opportunities and other ad hoc projects, including NPV and IRR calculations to support the company’s decision making processes.
• Contribute to the annual and quarterly objective setting process for the business and how the company measures its achievement level for these objectives.
• Provide leadership and direction to subordinates towards the achievement of goals and objectives.
• Guide and motivate subordinates to enhance performance and produce quality work, and ensure that they are continuously developed for higher level role.
The Crescent Textile Mills Limited is one of the largest manufacturer and exporter of Home Textile in Pakistan. The Company is engaged in the business of textile manufacturing comprising of made ups, processed fabric, greige fabric and yarn make from raw cotton and synthetic fibers.
Worked as Senior Manager Accounts at Crescent Textile Mills Limited, Major responsibilities are:
• Prepare and submit a cash flow forecast to the management board on monthly basis
• Producing accurate, timely and detail management on monthly basis with commentary
• Maintaining accurate and prudent accruals and prepayments schedules on monthly basis with detailed comments
• Balance sheet reconciliation with supporting notes and back up every month.
• Advise the management board regarding financial exposures
• Set the finance team objectives and appraisal on quarterly basis
• Financial appraisal of all business cases and capital expenditure
• Prepare the annual budgets and manage the whole budgeting process
• Prepare quarterly forecasts
• Report actual against the budget and forecast on monthly basis
• Manage debtors and advise management board regarding bad debts
• Monitoring and reporting on capital expenditure, project costs and financial benefits/loss against the business case assumption
• Assist all departments with financial expertise and work as a finance business partner across the organization
• Development of a culture of financial accountability
• Understand, review and challenge all spend in the business
• Initial planning of engagement and application of risk assessment procedures.
• Understanding of management’s goals, objectives, strategies and critical success factors.
• Confirming the basis for determination of planning materiality and thereby testing thresholds.
• Assessment of control risk and designing the test of controls for specific areas in consultation with the engagement partner.
• Delegation of audit work to the team members according to the level of their knowledge and experience and supervising them to ensure timely and effective completion of the job.
• Coordination of the audit work with the team members during multi location audit engagements.
• Review of team members’ audit work in light of technical standards, GAAP, IFRS, ISA, corporate governance guidelines, company laws, income tax laws and other applicable rules and regulations.
• Reporting to assurance engagement partner for review of Financial Audit and discussion of audit issues.
• Ensuring timely preparation of all deliverables to the client that includes financial statements, management letters (highlighting control weaknesses, its consequences and recommendations) and other deliverables.
• Development of financial and cost accounting manuals.
• Designing and implementation of Material Management and Financial Reporting System of Pakistan Railways
• Designing of chart of accounts of Pakistan Railways.
• Updation of codes and manuals of Pakistan Railways.
• Preparation of Pakistan Railways’ financial statements in accordance with International Financial Reporting Standards (IFRS).
• Designing and implementation of costing system at concrete sleeper factories of Pakistan Railways.
• Financial Review of Pre-Service Training Education Program (Pre-STEP), a project managed by Academy for Education Development (AED) and funded by the United States Agency for International Development (USAID).
• Preparations of fixed assets register of different companies.
• Coordination with ERP implementation team for smooth implementation of different modules of ERP.