Senior Accountant
Sawaeed Employment LLC
Total years of experience :23 years, 10 Months
• Finalization of monthly and annual financial statements including Statement of Financial Position (Balance sheet), Income Statement (Profit & loss account), Statement of Cash Flows with ratio analysis. Preparing consolidated financial statements of group.
• Manage account receivables and make sure collection from debtors on timely basis against sales.
• Manage account payable e.g. purchase of material and services acquired, handling of insurance and visa cost of 7000 Employees, food and catering and transportation.
• Preparation of annual & semi-annual budgets and fixes the targets regarding future revenues & related costs.
• Review and authorize all transactions (e.g payable, receivables, bank receipts & payments, cash receipts & payments) & ensure that each transaction is posted into correct account head and ledger.
• Finalization of monthly payroll, bank reconciliation statements.
• Designing and implementation of SOPs regarding purchase and store departments.
• Make sure the implementation of company policies, rules & regulation regarding books of accounts.
• Managing the statutory audit compile and prepare supporting schedules, work papers, and financial reports as requested by auditors.
• Prepare a variety of monthly, periodic, and annual financial reports and account summaries
• Monitor and review daily funds position and arrange funds for PDCs (post dated cheques) clearing and for meeting company’s daily fund requirements. Managing fixed deposits and equity shares investment accounts.
• Finalization of monthly and annual financial statements including Statement of Financial Position (Balance sheet), Income Statement (Profit & loss account), Statement of Cash Flows with ratio analysis.
• Finalization of profit & loss statement of each production order with all post shipment costs and calculate the variance analysis regarding pre-costing vs. post-costing.
• Manage account payable e.g raw material purchase (yarn, conversion, fabrics), processing expenses (printing, dyeing, bleaching), accessories store (stitching, packing & consumables), services (sea/air freight, clearing & forwarding, transportation etc) & indenters commissions with aging.
• Preparation of annual & semi-annual budgets and fixes the targets regarding future revenues & related costs.
• Review and authorize all transactions (e.g. payable, receivables, bank receipts & payments, cash receipts & payments) & ensure that each transaction is posted into correct account head and ledger
• Finalization of LC costing for recording imported items in books of accounts
• Designing and implementation of SOPs regarding purchase and store departments.
• Make sure the implementation of company policies, rules & regulation regarding books of accounts.
• Participate in the statutory audit compile and prepare supporting schedules, work papers, and financial reports as requested by auditors.
• Prepare a variety of monthly, periodic, and annual financial reports and account summaries
• Monitor and review daily funds position and arrange funds for PDCs (postdated cheques) clearing and for meeting company’s daily fund requirements.
• Arrangements of working capital through, Export bills discounting (FBP), Finance against Packing Credit (FAPC) & Finance against Foreign Bills (FAFB), Loan handling (Export re-finances)
• Credit limits follow ups under banking credit facilities to ensure proper utilization of finance lines against bank offered facilities
• Preparing monthly and annual production reports and managing the stocks and valuation of closing stocks for financials statements.
• Implementation and Monitoring of Sales Tax and Income tax lwas where applicable .
• To handle the filling of sales tax/VAT returns and to monitor the related documentation
• Dealing with taxation department.
CIMA MANAGEMENT LEVEL STUDIED
MBA FINANCE
B.COM