Sonali Jagath, Chief Accountant

Sonali Jagath

Chief Accountant

Kuwait College of Science and Technology

Location
Kuwait - Hawali
Education
Master's degree, Chartered Management Accountant
Experience
12 years, 5 Months

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Work Experience

Total years of experience :12 years, 5 Months

Chief Accountant at Kuwait College of Science and Technology
  • Kuwait - Al Jahra
  • My current job since May 2017

Main duties:
• Responsible for the preparation of accurate monthly financial reports and supporting schedules as required.
• Analyze financial information, call attention to trends, make recommendations, collect information and prepare reports
• Initiate and assist in development of the annual budget preparation process.
• Perform day to day processing of financial transactions
• Balance and reconcile all accounts payable disbursements each month and post to General Ledger
• Assist in ERP implementation and training of users as required
• Provide accurate data entry of all invoices prior to payment and prepare monthly reports.
• Prepares and records asset, liability, revenue, and expenses entries by compiling and analyzing account information.
• Maintains and balances subsidiary accounts by verifying, allocating, posting, reconciling transactions; resolving discrepancies.
• Maintains general ledger by transferring subsidiary accounts; preparing a trial balance; reconciling entries.
• Summarizes financial status by collecting information; preparing balance sheet, profit and loss, and other statements.
• To ensure petty cash and main cash balance reports are verified on daily basis.
• To ensure monthly bank reconciliations are carried out timely.
• Liasoning with the statutory auditors for year-end audit and preparation and submission of audited financials to PUC and other ministries as applicable.
• Liasoning with Internal auditors and managing
internal audit procedure by providing all
documentation on time and concluding the same
smoothly
• Any other necessary tasks deemed suitable for the position in question.

Finance Manager and Assistant Professor at Core International Institute of Higher Education FZE RAK
  • United Arab Emirates - Ras Al Khaimah
  • February 2013 to February 2016

Finance Manager
Management Accountant reports:
a. Budget of Academic year
b. Budget Vs. Actual on quarterly basis- analyzing the variances
c. Fees receivable management
d. MOU related reports as requested by the parent University
e. Cash flows on bi-monthly basis
f. Analyzing all expenses and revenues in detail
g. Proof reading of all agreements and MOUs with banks and professional qualifications
h. Information memorandum to be submitted for debt facilities
i. Department wise CVP analysis (BEPs and profit)
j. Cost control and reduction reports wherever required
k. Reports required by Senior Management as and when requested
l. Banking and Internal Control Services - Arranged funding for Institute by preparing Information memorandum and Financial Feasibility report
m. Day to day monitoring of Accounts and Internal Controls of the Institute
n. Liaison with Bankers and External Auditors
o. Due diligence study
Assistant Professor- Finance (Department of Management) Bachelor of Commerce - Coordinator
Programme Leader for implementing globally recognized Professional qualification in the campus - CIMA, UK and ACCA, UK - The work involved Accreditation and documentation process, exemptions, Schedule for regular training classes, MOU with the said professional qualifications, adverts for marketing strategy, Listed Learning Provider application, etc
Due diligence and checklist for International University Tie up

Consultant - Financial services and Internal controls at Gautam General Trading LLC
  • United Arab Emirates - Dubai
  • October 2010 to January 2013

Initial set up of Tally 9 and Completing book of Accounts in Tally 9
Internal controls and streamlining day to day accounting activities
Arranging initial bank funding for the company
Internal controls of Group companies accounts and DIP warehouses
Setting up and implementation of policies and procedures for Group Companies (segment wise and countrywise expansion) for effective internal controls
Arranging working capital funding from Financial Institution for new ventures of the Group
Successfully handling the transportation business set up - Accounts dept, Sales dept, Finance Dept, Documentation Dept, etc
Involved in day to day monitoring of Accounts and Finance activities to smoothen and introduce new processes
Debt restructuring for the whole group w.r.t. extension of tenure, reduction in rate of interest, cash flow management and arranging new non-funded facilities

Education

Master's degree, Chartered Management Accountant
  • at Chartered Institute of Management
  • January 2008
Master's degree, Chartered Accountant
  • at The Institute of Chartered Accountants of India
  • January 2002
Bachelor's degree, Bachelor of Commerce in Accounting
  • at University of Mumbai
  • April 2000

Specialties & Skills

Accounting
Account Finalization
Finance
Budgeting
Internal Controls
Accounting
Training - UG and PG students
Management Accounting - Budgeting, MIS reporting and decision making
Corporate Finance and relations with banks
Internal controls and processes
Due diligence

Languages

English
Expert
Hindi
Native Speaker
Marathi
Intermediate
Punjabi
Intermediate

Memberships

Chartered Institute of Management Accountants, UK
  • Associate member
  • January 2012
Institute of Chartered Accountant of India
  • Associate Member
  • January 2002

Training and Certifications

Islamic Banking and Finance (Training)
Training Institute:
Pinnacle Knowledge Group
Date Attended:
May 2009
Duration:
20 hours
Mutual Fund Advisor (Training)
Training Institute:
National Stock Exchange
Date Attended:
May 2006
Duration:
5 hours

Hobbies

  • Dancing