Corporate Finance Executive
Bateel
Total years of experience :9 years, 8 Months
Preparation of monthly MIS (store-wise, company-wise, region-wise, and consolidating MIS at group level, compared with the Budget versus Actual and identifying deviations monthly basis. Give representation to line manager for decision-making. Also, check whether all entries are incorporated monthly basis.
Gross Margin and SGA analysis by various indicators (Sales Price variances, mix variances including trade analysis, and suggesting actions for reducing expenses.
Ensuring all compliance of UAE, VAT, Economic Substance Reporting, Knowledge of taxations in GCC countries, and JAFZA.
Responsible for carrying out accounting functions like the accurate recording of journal entries, preparing monthly accounts, maintaining a general Ledger schedule, review of payroll workings, coordinating with a group of companies and preparing monthly statutory compliance reports, and communicating with businesses in the Middle East managing all aspects of the accounts payable cycle, cashflow management, and providing support for various general accounting operations.
Taking care of treasury functions and coordinating with the bank for long-term and short funding for the company. Also converting short-term loans into revolving loans for the smooth operation of the day-to-day payments. And monitor bank balance against the facility available.
Assisting Finance Manager to manage entire bank facilities across all territories, this including OD, Import Loan, short term / long term, etc. Manage day-to-day cash needs for the company and provide inputs to management for cash shortage/cash surplus.
Coordinating Insurance companies and negotiating with them for all retail store’s insurance. Handling Money insurance, Business interruption, all property risk & public liability insurance for the middle east.
Assist in Reviewing the current budgetary and accounting policies of the company and suggest changes if any. Prepare Management Reports to examine operating expenses of the company and suggest corrective action, as and when required
End-to-end accounting of accounts payable including monthly reconciliation and claiming credit notes. End-to-end accounting of accounts receivable issue of Performa and tax invoices, accounting of sales and receipts, and monthly reconciliations.
Compliance with the provision of WHT (withholding tax), preparing working for payment of tax liabilities, filing tax returns, and submitting the amount of tax withheld to the tax authorities within the due date.
Identify the Working Capital Requirement and accordingly arrange the fund monthly.
Monthly MIS and presentation to management for returns generated, deviations with actual and budgeted returns, and future forecast about the fund availability and new Investment Plan.
Conducting Feasibility studies of New Projects and investments for a diversified portfolio for the Group.
Prepare Management Reports to examine operating expenses of the company and suggest corrective action, as and when required. Assist Chief Accountant in preparing a Books of Accounts, treatment of IFRS & Preparation of Lease working as per IFRS 16
Conducted monthly closing process, accruals, and journal entries trained accountant on A/P systems and policies and set up an approval matrix for Accounts Payable. Verified accuracy of A/P batch output to ensure correct vendor coding which resulted in a 60 % reduction in Vendor classification. Manage the Working Capital of the Company, daily observation of AR & AP
Improve the Accounts payable approval process by reducing late fees from 40 % to 10 %.
Accounting for multiple clients (including proprietorships, firms, and private companies).
Conducted Statutory and Interim audits of clients operating in various sectors like Manufacturing, Trading, IT, and the Food industry.
Reconciliation of VAT output and Input tax credit and filling of VAT returns.
Preparation and filing of income tax returns of corporate and non-corporate entities.
Compliance with Transfer Pricing Provision, calculate the Arm’s Length Price to an international transaction by using various procedures i.e., CUP Method, TNMM, RPM, Cost plus procedure, profit Split procedure.
Understanding of the DTAA (Double Tax Avoidance Agreement) Treaty between various countries to avoid double taxation and to get an understanding of the withholding tax implications on remittance to different countries covered under the various Articles of Treaty.
Verified the Internal control system of the company and reported to the company regarding the same and ICFR Compliance. Conducted physical verification of the stock of the reputed company and prepared the report. Attending senior management meetings for discussion on internal controls and other related issues
Good knowledge of Accounts payable, Accounts receivable, preparation of Financial Statements such as Profit and loss accounts, Balance sheet, and Finalization of Final accounts.
Reconcile and prepare Accounting Data for GST to return filing as per Goods & Service Tax Law, 2016. Able to file Monthly, Quarterly and Annual Return under the Act. (GSTR 9)
Financial Due diligence of entities (Real estate developers) as per grounds provided by the Auditee and Reporting thereof.
Preparation of Audit Plan and Conducted an audit in Timely Manner as per Standards of Auditing (SAs) and Indian Accounting Standards (Ind AS)
Reply to various notices received from the Income-Tax Department
Reviewing conformity to statutory laws (Sales Tax, TDS, Service Tax, Employee Relate Laws i.e., Gratuity)
Preparation of Form No. 15CA/CB for foreign remittances
Analytical review of financial statements with past ratios & undertaking detailed documentation.
Conducted audit in the team and appointed as Senior in charge as well for assignments
Ledger Scrutiny and third-party verification & confirmation
Preparation of credit monitoring of arrangement Report (CMA Report) i.e., Projected Financial for a future period which is useful for borrowing. Preparation of Audit Report