Finance Manager
RAK PRECAST
Total years of experience :17 years, 1 Months
Cost Accounting
• Co-ordinate with the various operations and support units to ensure timely and accurate cost data is
available for preparation of cost reports.
• Participate in Preparation of budgets and financial forecasting as well as monitoring progress and
expenditure against budget.
• Controlling expenses in alignment with the set budget and developing monthly expenses report.
• Prepare monthly variation reports of actual progress against planned progress.
• Prepare project monthly cost reports for tracking purposes and control (upon implementation of ERP)
• Identify delays against contract programs and to advise the Project management/development dept.
accordingly.
• Liaise with internal and external Quantity Surveyors and the Project Management team in respect of
Project Invoices and preparation and updating cash flow forecast.
• Generate detailed time schedule plan and cash flow for awarded projects.
Financial Management & Reporting
• Preparation of financials of all the properties on monthly, quarterly and annual basis
• Preparation of Yearly financial budgets as per corporate guidelines within the time cycle.
• Efficient Fund Management Planning through periodic forecast for proper utilization of resources
• Preparation of cash flow statement to ensure proper deployment and procurement of funds
• Monitor and Report budget variance periodically for control
• Analyse working capital to anticipate future cash flow problems.
• Management & optimization of major financial recording, payment and monitoring systems of the
company
• Monitor receivable movements to curtail collection issues that lead to bad debts.
• Monitor Inventory position to avoid overstocking and dead stock
• Review and ensuring the accuracy of Account Schedules.
Compliance and Monitoring of Policies & Procedures
• Reviewing and approving all accounting transactions in line with the Group Policies & Procedures
• Ensuring all accounting transactions in line with approved corporate authority matrix
• Review and approve credit as per group policies
• Execute internal and external audit procedures
• Ensure efficient fixed assets management to safeguard company assets are in place.
Accounting & Finance :
• Liaison with contractors to ensure timely completion of projects and correct payments.
• Exercising full control over PDC’s received, from clients and proper accounting & banking of the same.
• Exercising full control over PDC’s issued to beneficiaries and proper accounting & banking of the same.
• Handle property Insurance and indemnify the company from associated risks.
• Verifying & processing the monthly payroll.
• To manage the day to-day finance and accounts for the company.
• Manage the digitizing of the accounting transactions through ERP.
• Supervising staff.
• arranging new sources of finance for a company's debt facilities
• ERP implementation.
Responsible to prepare monthly and yearly financial reports .
Following and assuring monthly closing for finance department and other departments under Ajman government .
Insuring compliance with internal Ajman government financial policies and procedures
Participate in developing and reviewing Ajman government polices and procedure and issuing the 2nd version of Ajman polices and procedure manual
Strictly ensuring that all the financial data are posted into Oracle ERP as per standards through the different sub-ledger avoiding and using of general ledger only for necessarily adjustment that couldn’t not be done through sub-ledgers.
Coordinating and guiding other department for resolving financial related issue .
Training new staff on work procedures and accounting standards.
Participate in preparing yearly budget for Ajman Government .
Monitoring and maintain finance department budget.
Approving transaction such as ( Requisitions, PO, GL, AP, AR ..)
Coordinate and facilities the work of external auditors and replying on their comments .
Provide monthly and yearly performance reports .
Assisting the management for decision making .
Implementing new system to manage and handle fixed assets for Ajman movement,
Coordinating with the banks and monitoring bank transactions ..
Following with revenue department to insure that all revenues under control .
Supporting all departments with advices, help, trainings .
Suggesting improvement and introducing new collection system for Ajman government with Dubai Islamic bank
Participate in the implementation of automated budget system by IBM .
Participate in the implementation of VAT .
Participate in the implementation of advance procurement system .
Maintain chart of accounts .
Obtain and maintain a thorough understanding of the financial reporting and general ledger structure.
Ensure an accurate and timely monthly, quarterly and year end close.
Provide training to new and existing staff as needed.-
Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.
esponds to inquiries from the Group CFO, finance staff and managers regarding financial results.
nsure the monthly and quarterly Bank Compliance activities are performed in a timely and accurate manner.
Budgeting, forecast and predictive analysi
Proactive dealing with customers & suppliers on finance related issues
Internal controls
Cost controlling
July-2015-Dec.2015- Gulf Laboratories, Abu Dhabi, UAE.
(Finance Manager )
Duties and Responsibilities :
Creating Accounting System .
Setting Up company financial Polices & Procedures .
Arranging Finance to the company .
Hire New Team .
Evaluating the company performance .
Highlighting the SWAT for the company.
Setting up inventory system .
launching the Collection Works System, develop the Business Required designs for Collections system
Preparing financial statements .
Coordinating With Talal Abu Ghazlaeh to issue audited financial report .
Setting up HR polices .
Develop purchasing system .
• June 2008 - Present - Arab Center for Engineering Studies (ACES), Dubai, UAE
(Finance Manager -Receivables, Payables, GL)
Duties and Responsibilities:
Finance & Accounting Management:
Managing all aspects of the financial function, including the following;
Create and maintain the chart of account.
Understand the chart of accounts, and the impact of the accounts on P&L & BS Statements.
Managing General ledger, fixed assets and bank reconciliations overall transactions.
Participate in the company strategic plan and budgeting.
Managing and Establishing annual budgets and quarterly forecasts, implementation & evaluation of internal controls.
Arranging financing for the company with the financing institutions
Auditing and checking the financial transactions.
Managing the account receivables and collections.
launching the Collection Works System, develop the Business Required designs for Collections system
Managing accounts payables and controlling the payments.
Managing and checking the sales invoices.
Cash flow management
Preparing monthly and quarterly financial statements.
Report the necessary financial analysis to the management.
Month and year end close process and reconciliation for the P&L & BS Accounts to ensure timely and accurate data.
Lead the negotiation with the vendors for any disputes, discounts...etc.
Held brief meetings with the advocates and followed up legal issues/court cases. Made personal presence in the court at the time of hearing of cases.
Ensure adherence to company policy and procedures.
Accounts Payable Management
Audit all submitted expense claims against established policies and procedures for compliance.
Posting the suppliers invoices.
Prepare, verify and process invoices/credit notes and coding payment documents
Getting the necessary confirmation and approval on the vendors invoices.
Checking the vendors invoices against the job order, LPO, Contract.
Schedule the payments for the vendors as per the agreed terms.
Accounts Receivable Management
Posting the sales transactions
Checking the sales invoices in accordance with the sales policy and verifying the BOQ and other documents.
Responsible for the reviewing the sales invoices before posting to the accounting system.
Managing and training collection team on regular basis to ensure quality output/ results.
Ensure Team awareness of Monthly Targets and achievements/ results with the collection team.
Develop the mechanism for collection cases allocation and reallocation of upgraded cases to Targets business goals.
Monitoring, conducting and reporting weekly review on all collection cases on prioritization bases.
Making sure that skip accounts are identified at early stages and proper Skip tracing strategy is followed by respective Collector.
Circulating the collecting Figures on daily basis to the concerned
GL, Fixed Assets and Month End Management
Reconcile the current accounts between the inter company branches.
Preparation of Fixed Assets month end entries, to make sure accurate and Timely month end depreciation, and reconciling the accounts
Resolve accounting discrepancies and irregularities
• Auditing purchase transactions and posting it to the accounting system .
•Auditing purchase transactions and posting it to the accounting system .
• Following with suppliers and preparing cheques and payments.
• Handling administrative transactions and expenses, and handling daily journal vouchers .
•Doing bank reconciliations and other ACES branches reconciliations .
• Checking sales invoices and posting it and checking with clients .
• Handling year end adjustments and entries.
• Follow up with auditors step by step. Following with suppliers and preparing cheques and payments.
• Control and reconcile the petty cash fund
• Handling administrative transactions and expenses, and handling daily journal vouchers .
• Doing bank reconciliations and other ACES branches reconciliations .
• Checking sales invoices and posting it and checking with clients .
• Handling year end adjustments and entries.
• Follow up with auditors step by step.
•Manage the accounts payable function.
•Maintain and control the Fixed Assets Register
•Prepare month end journal entries
Highlights:
•Organized various training sessions for the team to enhance their performance.
•Distinction of establishing accounting & budgeting department including recruitment of professional accounting staff.
•Instituted a new accounting system, which resulted in a dramatic improvement in the accuracy and timeliness of financial data as well as strengthening the relationship with investors, bankers and clients.
Key Responsibilities:
•Prompted posting of the sales expense invoices, checking sales invoices against LPO and quotation for maximizing profits through internal controls and budgeting
•Accountable for posting receipt & payment vouchers in a debtor / creditors book, while maintaining cash book and bank book to enhance better efficiency and profitability.
•Regulated execution of the inventory physical counting, checking the supplier invoices against LPO and Quotation thus contributed to the overall success of the company.
•Resolved the income and value added tax, prepared monthly income statements to enable smooth finalization of accounts for the annual audit.
•Restructured the inventory level and prepared the payments for the vendors to ensure smooth execution of all accounting activities.
•Revamped the follow-up accounts receivable, prepared the aging report to mitigate loss.
•Built and nurtured relations with bankers and financial institution for loan arrangement and loan documentation.
•Deftly handled tax planning of investment and finance companies.
•Drove the efforts for maintaining vendor a/c & payments, import records & documentation for import payments and conducting age wise analysis of debtors and follow up with sales departments and parties to reduce the same.
•Coordinated with Internal and Statutory Auditors for conducting periodic audits; evaluate Internal Control Systems to identify the flaws and implement necessary processes to overcome the defects in the existing system.
•Successfully monitored the requirement and optimum utilization of funds as per approved guidelines and procedures.
•Carried out staff expenditure management and control and reviewing Payroll Accounts, Bank, Parties a/c and other reconciliation.
andling all the accounting matters in the company, bank accounts, cash in hands, suppliers and customers …..
• Auditing the daily transactions and entering it on the accounting system .
• Making monthly financial reports .
• Handling all the secretary and administrative work.
• Working as sales representative .
I have bachelor degree in accounting and finance