Section Head - Financial Planning
Fauji Fertilizer Company Ltd
Total years of experience :23 years, 9 Months
Responsible for preparing Master Budget with Projected Financial Statements on yearly basis.
Responsible for preparing Quarterly Management Reports for Board of Directors.
Preparations of profit projections on periodic basis.
Responsible for verifying monthly, quarterly variance analysis profitability reports
Responsible for reviewing reports for GoP.
Preparation of management by exception reports for Opex overruns on quarterly basis.
Responsible for reviewing the productions budget, sales and expenses budget and their supporting details.
A). Financial Reporting
• Responsible for preparation of Profit & Loss of SGH Jeddah on monthly and quarterly basis
• Preparation and reconciliation of Deferred Income Schedule and Prepaid Expenses on monthly basis in line with Financial Statements
• Preparation of Fixed Assets Schedule on monthly and quarterly basis.
• Worked as General Ledger Coordinator responsible for 13 inter projects reconciliations and adjustment of debit and credit advises averaging 10-15 transactions per project on monthly basis
• Responsible for all month end adjusting and reversing entries for true and fair presentation of accounts
B) Budgeting and Planning
• Responsible for the preparation of Financial Budget including Forecast Income Statement and Balance Sheet and Cash Flows and operational budget comprising of purchasing and issuance budget on annual and quarterly basis
• Prepare Key Performance Indicators for Finance Department section wise like Accounts Payable, Accounts Receivable, General Payments, Reporting, Revenue, Treasury and Fixed Assets
C. Project Costing
• Responsible for Costing of all medical procedures specially Dental, Cath Lab and Radiology areas
• Effectively carried out full costing project of Cath Lab properly classified into material, labor and overhead costs for each procedure (a section of Cardiology Department for diagnostic and therapeutic procedures)
• Identified business promoting and profitable procedures to management in cardiology section
• Calculating breakeven models levels for each of the Cath lab procedures and advising management to set package deal through contribution margin indexing
• Presentation on break even models and cost volume profit analysis to Executive Steering Committee and its utility and effectiveness in deciding proper product mix with special reference to radiology procedures i.e. X-Rays and MRI and CITI Scans
My key responsibilities include:
•Cost audit & Analysis of Fauji Foundation welfare & Industrial Projects
•Selection of projects annually on rotational basis for internal audit and planning annual schedules for audit teams.
•Supervising, directing and reviewing fieldwork done by audit teams and preparing audit reports for onward submission to the Audit Sub-Committee.
•Ongoing review and evaluation of existing internal controls at FF projects, preparing flowcharts and updating internal audit programs.
•Verification of payments being made by Central Procurement Office to its suppliers with respect to relevant SOPs.
•Planning and conducting follow-up audits of selected welfare and industrial projects.
•Developing manual for Internal Audit Division.
•Follow-Up and Compliance Audit of FF Projects
1 Bank Reconciliation
2 Sales Invoices
3 Executive Summary for Chairman
4 Trial balance
1. Assisting Manager Accounts in preparation of monthly, quarterly and annual accounts.
2. Preparing daily cash position including monthly cash position for CEO.
3. Preparation of cost monitoring reports.
4. Preparation of collection account reconciliations.
5. Preparation of interest schedules of all loans on monthly, quarterly and yearly basis.
6. Preparation of different analysis reports required by CEO.
7. Preparation of Bank Reconciliation Statements.
In process, completed Advance Diploma in Management Accounting (11 out of 15 Papers cleared)
Member IIA In Process