Finance Manager
Bilal Industries LLC
Total years of experience :16 years, 1 Months
Managed company's financial accounting and reporting system.
Review financial data and prepare monthly and annual financial reports.
Track company's financial status and performance to identify areas for potential
improvement.
Producing financial reports related to budgets, account payables, account
receivables, expenses etc.
Analyze costs, pricing, variable contributions, sales results and the company’s
actual performance compared to the business plans.
Coordinating with the Banks for LC/TR facilities & loans arrangement.
Forecast cash flow positions, related borrowing needs, and available funds.
Monitoring working capital requirement through preparation of cash budgets,
allocation of funds to different parties, a control on receipts and payments and
bank balances thereon.
Planning, preparing & evaluating budgets with coordination to other management
team.
Managing fixed assets transactions including additions, retirements, and
depreciation and maintain updated fixed assets master record.
Implemented Focus Software in company for accounting, production & VAT
purpose from scratch.
VAT returns working and filing.
Liaise with external auditors for annual audit of the company.
Reviewing the aging reports of receivables in terms of credit limits (i.e. invoice date
+ Credit days) to raise flag on overdue invoices.
Maintains financial security by establishing internal controls.
Oversee the extension of credit to customers.
Ensure accurate, timely month and year end closing of the books of accounts.
Looking after business development & improvement in sales.
Physical verification and valuation of stocks.
Provide training to new and existing staff as needed.
Managed company's financial accounting and reporting systems.
Produced accurate financial reports to specific deadlines. (Profit & Loss, Balance
Sheet, Cash Flow)
Analyzed financial trends, variance analysis and analysis of Sales.
Initiated budgets preparation and fixed targets for the sales team and monitored
actual results while comparing it with the budgets & targets.
Handled the salary sheet process as per WPS and payroll validation,
Arranged financing from various financial institutions.
Coordinating with the Banks for LC/TR facilities and loans.
Ensure that sufficient funds are available to meet ongoing operational
requirements.
Worked with internal and external auditors during reviews and audits to ensure full
cooperation from accounting staff.
Reviewed the aging reports of account receivables in terms of credit limits to
highlight overdue invoices for timely recoveries.
Prepared Individual and consolidated financial statements (Balance sheet, income
statement, cash flow and related reports as requested.
Reviewed all the ledger accounts & ascertain that these are properly reconciled and
correct.
Worked on development of accounting software to consolidate accounting of all
business units that in turn helped to save time, cost, and manpower and generated
consolidated F.S. and related reports.
Developed and supervised an internal control system for payable, analyzed account
activity and related reports at account level resulting in fewer billing & payment
errors.
Facilitated internal and annual audits (external) through advance preparation and
planning of audit.
Extensively participated in maintaining a documented system of accounting
policies, SOPs and internal control policies to establish guidelines, authorization
and responsibilities in the organization.
Receivables Collection: Ensured in-time collection of sales invoices, to meet
collection targets.
Compared and analyzed sales growth budgeted and actual.
Inventory control management: Highlighted long outstanding unused stock items
causing company’s funds blockage and took measures to liquidate the stock.
Settled minimum stock levels in system to raise flag on crossing minimum level.
Initiated and managed Month and Year End Closing process.
Worked with Chief Accounting Officer for consolidation of Financial Statements of
the group companies, monthly as well as annually.
Planned, prepared & evaluated budgets with other team members.
Analyzed Financial Statements of group companies.
Reviewed periodical adjustment journal entries and depreciation calculation.
Maintained and updated group chart of account.
Prepared audit schedules for the yearly consolidated F.S.
Liaise with external auditors for annual audit of the company.
Credit Limits & Risk - Reviewing the aging reports of account receivables in terms
of credit limits (i.e. invoice date + Credit days) to raise flag on overdue invoices, and
reports to management and other sales staff for timely recoveries.
Stream lining the Fixed Assets Module in BAAN ERP which reduced the time of
calculating depreciation and Fixed Asset Schedule.
Transferred data of various companies from Dolphin to BAAN ERP.