GL Accountant 3 Shared Services
National Industrialization Company (Tasnee)
Total years of experience :14 years, 4 Months
Responsible for timely reporting and submission of 8 production plants (separate legal entities) and 9 Investing and Manpower supply companies at pre-agreed time line. 3 production plants are closed on 5th working day while others are closed by maximum of 7th working day of each month.
Monthly execution and reporting of self-designed cost allocation cycles between the Group (24 Companies) to ensure all Global & SBU/BU Shared Cost allocating to each receiver at entity level and its function.
Releasing non-trade intercompany settlements between the Petrochemical Complex to ensure contract compliance and mutual settlement to treasury for settlement.
Submitting Pre-Close Reporting Deck for each finance function (AR, AP, Treasury, Business Partners, and Fixed Assets & Debt) to ensure quality submission at quarterly closing. Also responsible for ensuring all out-standing points are having valid comments from all relevant departments before closing.
Providing quarterly analysis on BRA (Breakup, Reconcile and Analysis) method for all reporting balance sheets as required by Balance Sheet Review Committee.
Ensuring all consolidation entries at SBU and at each required level are properly entered with all relevant details. This includes intercompany and third-party loans and investments.
Supporting all SAP improvements projects with accounting perspective. Includes SAP BPC implementation, related party balance confirmations, and Master Data reviews etc.
Submission of quarterly review of financials (YAGO, PAGO & FTM) for 17 companies of the group. (This includes review of manual entries posted apart from SAP direct postings.)
Forecasting and Budgeting for Saudi Plant & GCC Product licensing activities that include volume, product costing and intercompany transfer pricing.
Bi-weekly analysis on product overheads costing for regular weekly GCC review meeting.
Execution of detailed 3-year plans and quarterly forecasts and lead on strategic objectives.
Development and Issuance of monthly financial records for submission to Managing Director in Saudi Arabia and CFO in Paris.
Report and challenge plant activities for monthly financial reporting and submitting semiannual statutory financials in HFM (Hyperion Financial Management) for consolidation of group data and other qualitative data.
Establish pricing strategy for all intercompany dealings and distributors.
Ensuring compliance with group policy of credit terms and entity liquidity ratios.
Trainer of MM and FI Module for Axens Group in GCC for new recruits for the operational team.
Mange and review product costing and gross margin analysis in SAP and sharing results with the local operational team.
Authorize removal of intercompany profits at group level while consolidation.
Review offers made to customers related to its financial impact on Gross/Net Margin and EBIT.
Actualize variances on each inventory movement at month end through JVs or SAP built-in settlement activity.
Submitting Manufacturing Overhead Deck containing period ago, a year Ago, Year to date vs. Year to date Year ago, vs. Annual Operating Plan and Hyperion (HFM) submission details.
Sharing breakup for cost of goods sold by material type, brand, category and its variances against the standard cost of sales.
Analyze and report purchase price variance, manufacturing (Usage and Yield) variances and its related settlements on inventorization methods through SAP and outside system.
Reports on Inventory aging and to ensure proper reserves/provisions have been reported in the balance sheet for any upcoming losses or un-shippable products.
Final execution of Inventory scraps or Physical Inventory Documents (PID) in SAP.
Authorize SAP’s BOMs update and rate routing details for effective reporting.
Submitting COGS forecast on the bi-weekly schedule with Under/Over Absorption effect.
Ensuring final submission of Inventory reports i.e. Inventory Deck, DOH, MOH, COGS Breakup, Cost Conversion, DII and Intercompany Profits to Controller and Reporting Manager.
Variance analysis vs. AOP, YAGO & PAGO for COGS and Balance sheet Inventory section.
Additional Responsibilities:
Focal person in working with raw material supplier (sister concern) for any reconciliation issues and Intercompany profit elimination.
Running and ensuring COSO tests scripts for internal control in Inventory reserves & Inventory Movements, Unusual Movements.
Removing Intercompany (Delivered) profits at regional level in HFM.
Costing and releasing Standard Cost in SAP for cross function usage.
Consolidating 3 regions for the quarterly closing of financials.
Working Capital Management for critical financial analysis on trend forecast of future costs, sales and Return on Investment (ROI) reviews.
Assist Divisional Managers with the inventory planning and evaluation of capital requirements.
Analyze actual monthly inventory and financial results versus budgets for cost control planning.
Credit Analysis of divisions and adjustments of costing model for each division.
Preparation of credit proposals for capital requirement for acquisition and disposals.
Analysis of financial statements and reports on variances.
Managing annual budgets and reporting its variance analysis.
Documentation and monitoring of internal controls, assisting in preparation of audited financial statements, footnotes and supplemental information.
courses: Certified Financial Consultant, Institute of Financial Consultants, Canada