Senior Accountant
Marka PJSC
Total years of experience :28 years, 0 Months
One of the listed company in the Dubai Share Market ) dealing with retail sports, Fashion Garments and Hospitality division.
Fund Management & Cash flow Forecast
Managed cash flows of the companies contributing to the achievement of predefined financial objectives. Fore casted cash flow positions, related borrowing needs, and available funds for investment. Ensured that sufficient funds are available to meet ongoing operational and capital investment requirements
Liaison with banks
Built and maintained professional relationship with banks. Liaised with banks for facilities like LCs, overdrafts, Bill discounting and guarantees - labor, performance, and advance payments - to meet the operational requirements.
Receivable Management
Maintained track of the money receivable from clients and followed up to realize the receivables. Monitored the Ageing report and made sure that all are received within the due date.
Payable Management
Maintained track of the amount of money owed to vendors. Negotiated payment terms and conditions with vendors. Monitored the Ageing report and managed the timely payments to be made for smooth operation.
Payroll Management
Oversaw the payroll processing and made sure it adheres to the requirements of the Protection System (WPS).
Audit
Liaise with & assist internal & external auditors to complete the audit in time.
Financial Analysis and Control
Conducted reviews and evaluation for cost-reduction opportunities in all areas of the company. Engaged in benchmarking studies to establish areas of potential operational improvement. Interpreted the company's financial results to management and recommended improvement activities
Analyzed the financial details of past, present and expected operations in order to identify the development opportunities and areas where improvement is needed.
Maintained accounting controls by establishing chart of accounts, defining accounting policies & procedures.
Met financial accounting objectives by development and implementation of goals, policies, priorities and procedures relating to financial management, budget, accounting and payroll. Guided other departments by researching and interpreting accounting policy, applying observations and recommendations to operational issues.
Achieved accounting operational objectives by contributing accounting information and recommendations, preparing and completing action plans, resolving problems, determining system improvements, implementing change. Established and enforced proper accounting methods, policies and principles
Overall Accounts Management
Managed and oversaw the daily operations of the accounting department. Managed the monthly closing of accounts and prepared financial statements conforming to IFRS and coordinated with auditors for on time finalization of accounts. Maintained procedures and other relevant records to ensure compliance with VAT and quarterly VAT Return filing.
One of the leading Fashion retail companies in U.A.E. owned by Sharaf Group dealing with major brands (Woolworths, Forever 21, Sanrio, Bayti, AiiZ, Red Earth, Reset, Bbush etc) and having more than 40 outlets
Cash flow Management/Forecast
Performed effective cash management by preparation and monitoring of daily cash flow statement for all group companies, consolidated as well as individually. Forecasted and budgeted cash flow which included forecasting of sales and expenses and projection of monthly cash inflows and outflows for the budget period. Compared budgeted with actual performance on a periodical basis.
Funds Management
Liquidity management by ensuring that sufficient funds are in the bank accounts to cover the expenses and cheques issued. Continuously monitored the financial covenants and compliance with other contractual requirements and raised early warnings for potential non-compliance and gave recommendations
Liaison with banks
Built and maintained professional relationships with banks and financial institutions across the group. Interacted with banks regarding clarifications and advices for letter of credits, trust receipts, interest on loans, payment transfers, collections etc.
Trade Finance
Gathered necessary information or documentation to process and complete Commercial letters of credit and related financial transactions for Sharaf Retail Division and its subsidiaries. Performed drafting, processing and amending of application for letter of credit, document examination, and collections in accordance with organizational policies, the Uniform Customs and Practices for Documentary Credits (UCP) guidelines, and import& export restrictions.
Bank/Cash Reconciliation
Oversaw the preparation of Cash/Bank reconciliation for various bank accounts for the Group on a monthly basis
Accounts Receivable Management
Managed receivables and provided information on debtor’s ageing and followed up for collection of receivables.
Financial Reporting
Submitted financial statements with all relevant schedules and other MIS reports as required by the Management. Assisted the team as and when required with ad hoc requests.
General Duties
Oversaw accounting department daily functions to ensure efficiency and compliance. Managed month-end and year-end closing. Supported annual audit by providing information and answers to auditors. Protected organization's value by keeping information confidential.
•Preparation of Day to day accounting entry to the system, like purchase, sales, payment & receipts. And monthly provision entries to system
•Preparation of staff list and advance list for pay roll preparation.
• Credit card & Bank reconciliation
•Preparation of cost sheets for import purchases
•Preparation of cash flows
•Vendor account reconciliation.
•Maintain inventory register and inventory valuation
•Assisting year - end stock auditing.
One of the leading registrar of public issue)
Major Accomplishments:
•Preparation of day to day accounting entry to the system
•Bank reconciliation statement
•Payment process
•Independently handling and controlling AP & AR
One of the leading Construction companies in India).
Major Accomplishments:
•Maintaining books of accounts on tally accounts package
•Maintain debtors ledger & creditors ledger
•Reconciliation of accounts receivable & payables
•Monthly trial balance & profit and loss account
•Monthly bank reconciliation statement
•Payment process
One of the leading tiles manufacturer & distributor of Italian marbles)
Major Accomplishments:
•Preparation of daily and monthly management reports under strict deadlines.
•Checking and process of petty cash vouchers
•Preparation of Department wise staff list and advance list for pay roll preparation for Head Office
•Bank reconciliation statement
•Inter branch supply - monthly reconciliation
•Preparation of cost sheets for import purchases
•Maintaining inventory records of raw materials, finished products & sundry spare & tools.
Writing books of accounts
•Bank reconciliation
•Handling petty cash
•Attending Tax office & maintaining files/ record of the clients
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