Senior Accountant
Dual Investments
Total years of experience :16 years, 9 Months
• Arrangement of Corporate Finance to fund the large projects undertaken by the Company
• New Brands Evaluation and discussions with Brands and Management
• Set up of systems, processes and Inventory Control
• Liaising with Auditors, Banks and Insurance Companies
• Preparation of MIS, Cash flow Report
• Preparation for Financial audit and Sales Audit including bank reconciliation, correction of un-posted amounts, stock take, confirmation to clients and schedules required for audit.
• Capex Budgeting for new outlets including dealing with banks for financing and closing of non performing outlets
• Dealing with foreign suppliers for payments through different Banking Channels.
• Negotiating with Mall Management for locations of outlet and Rentals
Budgeting
• Preparation of yearly budget based on actual and forecasted results with the recommendation of finance department
• Revision at quarterly and half yearly based on actual results.
Monthly Closing and Management Reporting
• Updating schedules such as depreciation, prepaid rent, audit fee, trade license, Insurance etc.
• Booking monthly closing entries to ensure all expenses are booked for the month end reporting
• Scrutiny of trail balance and system generated profit and loss to ensure fair presentation of month end reporting
• Preparation of TDB for the management; outlet wise in particular and Company as a whole; presenting month and year to date performance (profit and loss) having comparison with last year and full year budget.
Brand Reporting
• Preparation of Weekly, Bi-Monthly and Monthly brand performance report for the brand managers and top management
• Preparation of statistical analysis of the sales by season and by month for evaluation of performance
• Preparation of buying budget based on historical data and budgeted sales to forecast the expected buying season-wise in particular and for the year as whole.
Others
• Preparation of daily sales report based on actual and budgeted sales
• Timely posting of all transactions based on the available and authorized documents
• Maintenance of monthly bank reconciliation statement and reconciliation of suppliers and customers statement
• Preparation of payment vouchers and transfer letters for payment to local and international suppliers
Forecasting and Budgeting
• Set-up yearly budget (Sales Budget, Purchase Budget, Cash budget) based on the assumptions discussed with the head of departments
• Revision of forecasted sales based on actual results at half year end
• Participation in strategic meetings to discuss achievement of budget and yearly targets
Cash Flow Management
• Management of day-to-day cash functions, including receipts from actual sales incurred and payments required to be made to supplier and assuring that they are in line with payment terms, with the goal of optimize use of cash flow of the company
• Forecasting six month and yearly cash flow with expected receipts and payments to meet the funds required for supplier and other long and short term payments and additional funds required for capex and opex investments.
• Commenting on the cash-flows emphasizing the red areas to be focused upon
Monthly Closing and MIS Reporting
• Updating schedules such as depreciation, prepaid rent, audit fee, trade license, Insurance etc.
• Booking monthly closing entries to ensure all expenses are booked for the month end reporting
• Scrutiny of trail balance and system generated profit and loss to ensure fair presentation of month end reporting
• Preparation of MIS Report for the management; outlet wise in particular and division wise as a whole; presenting month and year to date performance (profit and loss) having comparison with last year and full year budget.
• Preparation of Dashboard for Management Reporting for statistical analyzation of performance with visual and graphical effects
• Presenting MIS Report and Dashboard to Management in monthly performance meeting and preparing minutes of meeting.
Audit
• Reporting sales of outlets for the month as per requirement of Mall Management
• Preparation of all schedules as per the requirement of annual and sales audit.
• Performing year end closing activities such as cash count and inventory count.
• Assisting auditor in performing financial and sales audit and providing supporting documents as per the requirements of auditor
SAP Implementation
• Preparation of GL as per the requirement and implementation of SAP
• Mapping of current GL with the approved GL and Chart of Accounts
• Participate in the implementation of SAP including orientation and training sessions
Others
• Preparation of daily sales report based on actual and budgeted sales
• Timely posting of all transactions based on the available and authorized documents
• Maintenance of monthly bank reconciliation statement and reconciliation of suppliers and customers statement
• Preparation of payment vouchers and transfer letters for payment to local and international suppliers
• Preparation of rental payments and LC documents
• Preparation of aging analysis report and providing statement of accounts of customers for recovery by sales staff
• Preparation of payroll for retail staff and computation of commission based on actual sales and approved commission percentage
• Preparation of feasibility report for management for opening or closing of outlet or brands
• Guide and motivate subordinates to enhance performance and produce quality work and ensure that they are continuously developed for higher-level role.
• Providing key financial information within established timelines to the finance manager in areas such as operating results and budged verses actual and reports any issues with respect to planning and budgeting to the CFO
Planning audits by understanding organizational objectives, structure, policies, processes, internal controls, and external regulations; identifying risk areas; preparing audit scope and objectives; preparing audit programs.
Delegating work, performing reviews and giving appropriate directions for conduct of work
Assessing compliance with regulations and controls by executing audit program steps; examining and analyzing records, reports, operating practices, and documentation.
Assessing risks and internal controls by identifying areas of non-compliance; evaluating manual and automated financial processes; identifying process weaknesses and inefficiencies.
Verification of assets and liabilities by comparing and analyzing items and collateral to documentation.
Addressing and resolving significant accounting and auditing issues raised during audit.
Preparing annual financial statements for the purposes of statutory audit and requirements of Securities and Exchange Commission of Pakistan.
Communicating audit progress and findings by providing information in status meetings; highlighting unresolved issues; and preparing final audit reports.
• Preparation of daily receipt and payment vouchers and management of petty cash expenses
• Preparation of sales and purchase invoices on the basis of dispatch orders and goods received note and other supporting documents.
• Preparation of monthly and yearly bank reconciliation report
• Preparation of Salary sheets as per employee gross salary and applicable tax deduction.
• Posting all transactions in system on daily basis after all supporting documents have been received and approved.
• Preparation of accounts on monthly, quarterly, half yearly and annual basis for management, and banks, and auditors, and reporting significant issues related to accounts, to management.
In progress
C.A Intermediate
Masters of Arts ( Economics) ( June 2009) University of Karachi
Bachelors of Commerce ( June 2005) Govt. Premier College University of Karachi