Assistant Manager Finance
GE-General Electric USA
Total years of experience :21 years, 1 Months
GE Industrial Solutions (GE Energy), Bangalore
Assistant Manager Finance (Aug 2007 onwards)
Responsibilities: Accounts Payable: • Organize and lead the team performing Material and Base Cost Bookings.
• Monitor adherence to all statutory and legal requirements pertaining to TDS, VAT Credit, Excise/Customs, etc.
• Manage various kinds of Import Purchases and Payments pertaining to them including Rate Booking, Document Management and Hedging.
• Reconcile various Balance Sheet items such as Cash and Bank, Sundry Receivables, Trade Payables, Employee Payables and Other Current Liabilities.
• Monitor maintenance of Fixed Asset Register following the provisions of US GAAP.
• Oversee maintenance of Leased Asset Register under the provisions of AS 19 pertaining to both Financial and Operational Lease.
• Maintain accounts for Salary with adherence to Payrolls Register.
• Perform Gratuity and Leave Encashment Analysis and True - up on a yearly basis.
• Deal with commercial requirements such as Letter of Credit, Bank Guarantees and Bills Discounting.
• Review Contracts with Vendors as well as PO Analysis on a yearly basis.
Inventory Management: • Determine Standard Cost margins for Inventory.
• Ascertain Material Movement and verify Dead and Slow Stock under the provisions of GE Policy.
• Perform Physical Inventory Count and Variance Analysis.
• Utilize Oracle to maintain Perpetual System of Inventory on a monthly basis.
• Analyze and revise Standard Cost on a yearly basis.
• Revalue inventory on FIFO basis on a yearly interval.
Financial Analysis: • Analyze Contribution/Margin & Variance consisting of: Monthly contribution analysis and reporting, analysis of various variable costs, monitoring actual expenses in relation to annual business plan, analysis of deviations from annual business plan, analysis of price and usage variance and introduction of corrective action. The following procedures are usually adopted: * Calculating Margins of all items and scrutinize the items displaying odd Margins.
* Examining variances pertaining to Purchase Price, Invoice Price, Job Close, etc.
* Monitoring Component as well as Equipment Division.
• Account for Depreciation and ensure that ET&L are provided for promptly.
• Analyze Freight Inwards and Outwards.
• Scrutinize Material Cost in detailed manner, compared market costs of essential raw materials such as Aluminum, Steel and Copper and assist the sourcing team into identifying the appropriate suppliers through a study of past purchases and trends.
• Manage the whole of Fixed Asset Management for the business.
• Handle S2G for the business and various other operational controllership activities in relation with the business.
• Responsible for the Oracle Book Closures for modules like AP/Inventory/Purchasing/GL/Project Accounting etc....
• Led team successfully towards completion of the Statutory Audit by KPMG.
• Implemented fruitfully several new modules in Oracle for increasing the efficiency of Material Management.
• Represented Finance Department during the introduction process of a new Assembly Line on the Production Floor.
• Completed all Internal Audits successfully within deadlines whenever required.
• Introduced a new procedure in Costing which reduces cycle time and manpower.
Articled Clerk (May 2005 to July 2007)
Audit Assistant (April 2003 to April 2005)
Responsibilities: Accounting Procedures: • Imparted advice to clients including Proprietary Concerns, Partnership Firms and Companies in relation to design and implementation, review and modifications of Accounting Systems
• Drew up Bank Reconciliation Statements, Cash Flow Statements and other management reports.
• Helped accounting personnel of clients to apply Accounting Standards in the process of Book Keeping and other statutory compliances.
• Formulating an internal control system, the implementation of the same and review the same periodically.
• Assisted clients through Financial Planning, Budgeting and Reporting.
Auditing: • Conducted Statutory and Internal Audit of Proprietary Concerns, Partnership Firms and Companies.
• Conducted Statutory Audit of Banking Companies.
• Finalized accounts of companies including Trial Balance, Profit and Loss Account and Balance Sheets.
• Prepared Audit Reports and ensured compliance with other Statutory Requirements.
Income Tax: • Determined Income Tax Liability for Individuals, Firms and Companies.
• Prepared Form 16 with Annexure, Form 16A and various such other forms.
• Computed Tax Deduction at Source for Clients pertaining to Salaries and Non Salaries.
• Successfully managed Income Tax Assessments.
Sales Tax: • Drew up Monthly Sales Tax Returns.
• Calculated Annual Sales Tax Returns.
• Dealt with Sales Tax Assessments.
Professional & Academic Credentials
• Chartered Accountancy (Final) ~ The Institute of Chartered Accountants of India
• Chartered Accountancy (PE II) ~ The Institute of Chartered Accountants of India
• Bachelor of Commerce ~ Christ College
• Class XII Board Exams ~ Christ College
• Class X Board Exams ~ Bangalore Public School
Trainings Attended
• Six Sigma
• Essential Leadership Training
• Budget Sessions Year on Year
Personal Dossier
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• Languages Known: English, Malayalam, Kannada, Tamil, Telugu and Hindi
• CA Membership No .: 227841
• Passport Number: H9274050
• Interests: Financial Planning, Taxation, Costing and International Taxation
• Skill Set: Public Speaking and Essay Writing.
• Hobbies: Reading, Playing Football
• Track record of leading team towards successful completion of audit, fruitful implementation of Oracle in various new procedures in business, representing finance department to implement new process of Assembly Line on production floor, completion of internal audit within deadlines, introducing improved costing procedures resulting in reduction of cycle time and manpower. • A formidable, competitive, focused and driven individual possessing firm resolution, flexibility, imagination, and insight. Energetic, meticulous and responsible are some more traits that add to the strength. • A qualified Chartered Accountant besides being a Bachelor of Commerce.
