Manager Financial Accounting and Reporting
Abdullah A.M. Al-Khodari Sons Co (A Saudi Joint Stock Co)
Total years of experience :25 years, 11 Months
-Exercising control and monitoring over the Accounting Operations. -Manage the corporate finance tasks including all financial, management and statutory accounting and reporting. -Review the monthly Business Activity Statements and review all monthly balance sheet reconciliations. -Maintain the General Ledger and ensuring compliance with the SOCPA and relevant IFRS Standards. -Supervising the operations of the Oracle Fixed Assets, Oracle General Ledger and Oracle payables & receivables. -Supervise employees in the Finance and Reporting Department and responsible for the overall direction, coordination and evaluation of this unit. -Develop Policy & Procedures for various functions of Accounting & Treasury -Improve existing processes and streamline workflows -Supervise the Interim and Annual Audits (Internal & External)
-Prepared Financial Statements & Management Reports with effectiveness and accuracy. -Supervised the Quarterly and Annual Audits with efficiency. -Handled Zakat & Tax matters and calculated Zakat Liability for 2013 & 2014 and filed Zakat/WHT Returns to DZIT. -Supervised the related parties’ transactions and their reconciliations on monthly basis. -Prepared sheets for the Revenue Calculation under POC method, Cost allocation and projects scorecard. -Piloted monthly, quarterly, annual, and ad-hoc reports with analysis for Executive Management and Board of Directors. -Maintained the development of Chart of Accounts. -Prepared and interpreted the actual monthly financial statements and reviewed the balance sheet reconciliations. -Supervised the accounts of various business units and prepared consolidated financial statements. -Supervised the preparation of management accounts of various business units.
-Handled the debt portfolio of SR: 1.4bn under Islamic mode of financing.
-Managed the Renewals of Credit Facilities with the banks and comparing the terms of agreements with existing agreements. -Ensured that all the covenants and pricing are within the benchmark set by the management.
-Monitored the Bank Covenants and alerted the management in advance to avoid the breaching.
-Effectively implemented Project Finance Scheme for proper distribution of Projects funds.
-Supervised the monthly utilization of Funded/Non-Funded credit lines and reporting it to top management.
-Handled the complete operations of “Letter of Credit” and “Letter of Guarantees”.
-Effectively created and managed the forecasted Cash flows statement on daily, weekly and monthly basis.
-Arranged the ECA from KBC bank Germany to meet the CAPEX requirements.
-Arranged funds of SAR 50mm (Approx) on monthly basis through Bill Discounting facilities from various banks.
-Established and maintained relationships with banks and other financial institutions.
-Coordinated with Auditors on all matters related to Banking and Treasury.
-Supervised the Oracle treasury, Cash management and payable modules for timely recording of transactions.
-Reconciliation of all bank accounts which includes current accounts, Loan accounts, Overdraft accounts.
-Supervised the monthly and yearly closing of accounts and preparation of various corporate reports.
-Coordinated with external auditors for statutory audit.
-Implemented Standard Costing system and reported the reasons for under/over applied cost to management.
-Prepared the annual budget and reviewed the variance analysis of actual vs budgeted figures on monthly basis.
-Coordinated with the Production Manager and section heads to analyze the order wise cost and profitability.
-Prepared the Cost of Production Reports of various sections to calculate the Cost of Finished/WIP inventory.
-Examined the accounts of sister companies and report to management for any error or fraud.
-Prepared the Export Documentations and negotiated with banks for bill of exchange and Export Refinancing.
-Supervised the inventory record and implemented the Procurement management system according to ISO documentations.
-Reviewed the Ageing Report of Payables and Receivables for funds management.
-Supervised the Reconciliation of banks, creditors and receivables.
-Prepared the weekly & monthly cash flow forecast for proper utilization of available funds.
-Implemented computerized payroll and inventory management system.
-Prepared and implemented P&P for all the functions of accounts& finance.
-Prepared the monthly trial balance and financial statements.
-Maintained the General Ledger in Computerized accounting system.
-Prepared and monitored the cash flow and bank position on daily basis
-Co-ordinated with auditors for annual audit.
-Prepared the receivables and payables statements on weekly basis.
-Prepared the Payroll Sheets, Cashbook, Supply and Purchase register.
-Prepared the landed cost of imported raw materials.
Diploma in IFRS from ACCA
ACCA is a globally recognized degree in Chartered Accountancy.
The institute of Cost & Management Accountants of Pakistan is globally recognized Professional Body producing high quality professionals in the field of Management Accountancy, Cost Accounting, Financial Reporting.
Accounting, Auditing, Business communication