Chief Accountant
Occidental Petroleum of Qatar
Total des années d'expérience :23 years, 4 Mois
Responsible for maintenance/review of the General Ledger and provision of Development Production Sharing Agreements.
Review of Trial Balance, Financial Statements and other General ledger Accounts on monthly basis and ensure the recording of adjustments thereof.
Responsible for smooth running and maintenance of Oracle modules including G/L, Project Costing, Fixed Assets, JVA, Cash Management and Project Costing. Oversee Projects module with Operations and Cost Control.
Responsible for month end & year-end Financial closing of Books of Accounts and providing necessary data to the Budgeting & Reporting Group for preparation of Monthly Management Report.
Review fixed assets register on monthly basis and coordinate with project managers regarding the completion of project for accurate calculation of DD&A.
Review Joint venture books on monthly books, also review the monthly accrual process, ensure accuracy of cost allocation.
Review intra-company invoices for shared services between OXY Qatar companies and with other OXY business units.
Assist in Statutory Annual Audit & Development and Production Sharing Agreement (DPSA) Audit, Recovery audit conducted by Government of Qatar (represented by Qatar Petroleum)
Review and submission of the annual Audit /Tax Pack (used for consolidation of account) and other schedule at the year end to the head office in L.A.
Review inventory processes, conduct audit and recommend inventory controls and procedures.
Sarbanes-Oxley act (Sox) coordinator (Internal Controls) for Qatar, responsible to coordinate with end user for submission of half quarterly survey. Coordinate with head office Sox team in case of any exception or weakness noted/reported in process.
BUDGETING REPORTING & JOINT VENTURE AFFAIRS
(Jan 2005 TO Oct 2009 - Key deliverables)
Prepare Corporate Budget & Joint Venture Budgets for Pakistan & overseas Oil & Gas Assets.
Preparation of monthly outlook reports i.e. Profit & Loss, Balance Sheet, Cash Flow and CAPEX/OPEX schedules along with monthly variance analysis report.
To prepare and maintain “Consolidated projected Financial Plan” based on company long term & short-term objectives on monthly basis with the help of Planning & Reservoir department; prepare variance analysis & responsible to present in front of management for approvals and recommendations.
Responsible to prepare and compile monthly KPI targets based on “Balance Score Card” each month set by the Management.
Preparation of “Authorization for Expenditure” (AFEs) for all Capital./Opex Projects and make variance analysis/comparison with actual. Also responsible to take Management & joint venture partner’s approval for all AFE.
Review Operated cash call, and non-operated cash calls in light of Concession Agreements. Draft replies for joint venture partner’s queries regarding budget and financial aspects of on-going capital projects.
Preparation presentation for “Financial Performance” analysis for quarterly “Operating Committee Meeting” (OCM) for Joint Venture Partners.
Prepare financial presentation for “Board meeting” held each year.
Responsible to check the Operating Expenditures of the company accordance to approved budget plan and give accounting approval for all material / service requisitions.
General Accounting
(Jan 2001 to Dec 2004 - Key deliverables)
Prepare variance analysis for all operating and Capex expenditures.
Monitoring and validation of the data of different modules of accounting systems like General Ledger module, Accounts Payable module, Materials Inventory and Purchasing module, Payroll Module, Fixed Assets Module etc. Review all monthly Journal vouchers for onward approval.
Monthly & yearly closing of Books, continuous monitoring and further development of Oracle Financial system so that the organization can get maximum utilization of this resource & development of new online reports through MIS department.
Review of Analysis of Pakistan Branch’s books on monthly basis. “TIME ALLOCATION OF DIRECT & INDIRECT COST” review of monthly time sheets of Time Writing Managers for appropriate allocation to different JV’s projects and its setup in Oracle system.
Maintenance of Individual Employee’s Receivable Accounts and its clearance upon receipt of expense reports according to company Policy and Procedure.
Liaison with external auditors during audit to provide the necessary information pertaining to Audit.
Preparation of monthly material reconciliation & clear difference between purchase order and actual payment made. Review of issue & receipt of inventory each month & make correction, if required.
Conduct annual physical stock takes of warehouse with joint venture partners & Auditors.
Sales & Receivables:
(Jan 2003 to Dec 2004 - Key deliverables)
Preparation of Oil, Gas, LPG & Sulphur monthly Sale Invoices for company operated blocks and thereafter follow up of collections from off-takers. Prepare the detail for General Sales Tax, Royalty, Production & Sales volume and Excise Duty for internal use and for Government authorities each month and process the Royalty & Excise Duty monthly payments.
Preparation of details of weekly Oil prices as per International Oil Market and also preparation of half yearly Gas sales prices.
Input the vouchers relating to sales invoices, collection of trade receivable, booking of royalty and excise duty and make correction in the books if required. Responsible to handle correspondence with the Government authorities, Joint ventures partners and oil refineries related to revenues & GOP ex-checker.