Specialist Budget Planning & Cost
SABIC
مجموع سنوات الخبرة :18 years, 6 أشهر
Collaborate with department heads and senior management to develop annual budgets and long-term financial forecasts.
Analyze historical data, current trends, and future projections to determine realistic revenue and expense targets.
Identify cost-saving opportunities and potential risks, and provide recommendations for budget adjustments as needed.
Ensure compliance with budget guidelines and financial policies.
Monitor budget performance on an ongoing basis, tracking actual expenses against budgeted amounts.
Investigate and explain variances, identifying areas of concern and recommending corrective actions.
Conduct regular budget reviews with department managers to provide guidance and support in managing their budgets effectively.
Develop and implement financial controls and processes to prevent overspending and optimize resource allocation.
Prepare accurate and timely financial reports, including budget vs. actual analysis, variance explanations, and financial forecasts.
Analyze financial data to identify trends, highlight key performance indicators, and provide insights to management.
Develop and maintain financial models and tools to facilitate budgeting, forecasting, and decision-making processes.
Contribute to the preparation of board presentations, executive summaries, and other relevant financial reports.
Continuously evaluate and improve budgeting processes, tools, and systems to enhance efficiency and accuracy.
Collaborate with cross-functional teams to streamline financial workflows and ensure data integrity.
Stay updated on industry best practices and emerging trends in budgeting and financial management.
Calculate E&PM Yearly Unit Price which involve finalization of Functional Cost, Service Volume and Manpower and its Actual True-up which later approved by User Council.
Prepare and analyze various financial reports, and coordinate, analyze, and compile information required for business plans, budgets, and forecasts. Reporting to the Controller.
Prepare confidential monthly reports, including analysis of budget to actual and year-over-year analysis of the income statement, balance sheet, and statement of cash flows.
Collect, analyze, and compile data required for annual business plan and forecasts.
Analyze data and produce reports for review by Senior Management.
Oversee and direct the different functional area Cost Analyst.
Implement finance policies, procedure and process while maintaining the knowledge base of general accounting standards.
Help analyze and make recommendations for accounting system improvements and coordinate with the Consultants (Accenture & Wipro) for the development of management reports.
Ensure internal accounting policies and the documentation of system processes are accurate and up-to-date.
Complete other duties and special projects as assigned.
On monthly basis analysis of cost sheets pertaining to all functional area departments reports to keep expenses in line with operating plan.
On quarterly basis perform forecast activity and for that initiate forecast guidelines and instructions and coordinate cost analyst for the preparation of forecast data.
Closely in contact with Department Managers if any budget adjustments are required in accordance with delegation of authority.
Always guide cost analyst for any unplanned expenditure which have significant impact on the approved operating plan and will require especial approvals to account for the entries and also amendment in approved operating plan.
Participate in analyzing and monitoring the transactions taking place in YASREF and ensure that they are recorded according to the accounting financial standards. - Evaluate and analysis of financial statements and reports.
Analyze current and past trends in key performance indicators including all areas of revenue, cost of sales, expenses and capital expenditures.
Monitor performance indicators, highlighting trends and analyzing causes of unexpected variance.
Oversee and manage the continued development of Budgeting, Financial Forecasting Operating Plan and Modeling tools.
Implement and work with a Business Intelligence Tool and Dashboard reports.
Develop financial models and analyses to support strategic initiatives.
Analyze complex financial information and reports to provide accurate and timely financial recommendations to management for decision making purposes.
Protects operations by keeping financial information confidential
Perform all work procedures in compliance with all relevant safety, health and environmental procedures to ensure a healthy and safe work environment
Support Senior Management Team and Departments heads with in-depth analysis - Prepare presentations to Board of Directors and Senior Management Team.
Perform other job-related duties as assigned by the Controller.
Prepare budgeted to actual variance analysis report on monthly basis.
Prepare monthly inventory reconciliation of finished goods, raw material and spare parts.
Controlling & performing monthly physical stock count.
Preparing on monthly basis actual revenue/volume vs. budgeted revenue/volume comparative reports.
Controlling & monitoring on daily basis the movement of finished goods from plant to distribution house and local and export sales on daily basis. Classification: General Business Use
Preparation of presentation related to financial results on monthly basis.
Supervising and directly involved with consultants in complete implementation of MS Great Plain ERP.
Arranging and meetings with all departmental heads related to ERP implementation.
Single handedly prepares company Chart of Accounts comprises of company, departments/sub departments, locations and natural account codes.
Preparation of expense analysis on monthly closing.
Supervising the committee responsible for disposal of fixed assets, scrap raw material and others.
On monthly basis doing stock count of Fixed Assets and responsible for ensure the proper tagging and its accounting entry in system and in FA module. -Running the monthly depreciation from system and ensure its figures in system.
Supervise and monitor from Finance the whole project of implementation of MS Great Plain.
Directly in association with Al Futtaim consultant in every aspect of implementation and coordinate internal IT team in smooth implementation process.
Develop process flow charts for each area of Finance and also covering area of Marketing & Sales for the development of reports for each section.
Redesign the flow document process according to best practices of MS Great Plain in order to achieve desire bench mark result and also the desire KPI's.
Develop financial reports using MS Great Plain tool of FRFX such as balance sheet, income statement and other related reports to monitor departmental actual expenses in comparison of define Budget in system.
Arrange training to all users to have a complete understanding of all modules.
Arrange successful UAT with the support of IT and ensure the proper migration of balances from old to new system. Duties & Responsibilities - Towards Payroll:
Monitors and maintains all payroll general ledger accounts and personnel budgetary balances for all company accounts.
Performs reconciliation and analytical reviews.
Prepares account analysis, accounting entries and financial reports and statements to ensure payroll information is accurately and properly reflected in the financial accounting system in a timely manner.
Assists supervisor in processing payroll.
Provides all other departments and employees on payroll related inquiries in timely manner and ensure that no figure entered wrong.
Monitors payroll general ledger budget personnel cost by coordinating with department personnel when budget transfers are required coordinating with budget office to payroll related accounts, providing information and answering all budget related questions.
Assists in the operation and management of the payroll system by recommending payroll process improvements, coordinating the development and maintenance of the automated payroll/general ledger interface, monitoring policies and procedures, providing training to payroll personnel, working with Information Systems regarding payroll enhancements and performing testing to protect the accuracy and integrity of payroll information and system.
Preparation of monthly schedules.
Preparation of bank reconciliation.
Posting of Journal Voucher.
Inventory valuation and stock check on monthly basis.
Maintaining the petty cash fund.
Checking all the necessary adjustments that are to be made in the accounts for arriving at the Adjusted Trial Balance for its correctness and arithmetical accuracy.
Preparation of payment and fund transfer vouchers on a daily basis and booking of all supplier bills.
Preparation of monthly payroll sheets.
Monthly accruals.
Tagging of Lease payments.
Preparation of monthly lease rent schedules.
Involve in Monthly closing.
Prepare bank reconciliation.
Maintain Client credit information on State Bank of Pakistan web-based system.
Preparation of periodic and annuals Financial Statements and coordination with the external auditors in the finalization of annual audited accounts.
Checking each account (maintained in the computer under Visual Basic programming) for correctness of the data.
Keeping a check on insurance policies expiry dates for their timely renewals regarding stocks and assets.
Ensuring that the payments being properly checked before they are being paid and are promptly recorded. -Checking all the necessary adjustments in the accounts for arriving at the Adjusted Trial Balance for its correctness and arithmetical accuracy.
Preparation of monthly payroll sheets.
Valuation of closing inventory and its periodic and annual stocktaking.
To prepare different types of consumption reports of yarn, fabric and thread, per unit cost analysis and their related factors.
Preparation of payment and fund transfer vouchers on a daily basis and booking of all supplier bills.
Preparation of supplier statements on a regular basis and liaison with the suppliers.
Making bank reconciliation statements every month for the relevant bank accounts.
Preparation of monthly payroll sheets.
Valuation of closing inventory and its periodic and annual stocktaking.
Preparation of relevant information for onward submission to Sales tax and customer authorities on a daily and monthly basis.
Preparation of landed cost sheets for import of machinery/fabric from various countries.
Major in Finance and Accounting