Senior Cost Accountant
Al Ain Food & Beverages PJSC
Total years of experience :13 years, 4 Months
• Working closing with SAP consultant to implement SAP;
• Preparation of budget (DC, OH & CAPEX) and perform monthly forecasting to capture the changes in quarterly budget review;
• Performing monthly analysis reports of Overheads Variance, Direct Cost (Inventories) & CAPEX;
• Presenting financials to Finance Director and submitting reports to HO finance team.
• Managing the closure of monthly books of accounts and producing management reports.
• Supervising detailed CAPEX projects and assessing the project feasibility by calculating ROI & Payback Period.
• Conducting monthly meeting with department’s head to present monthly results;
• Maintaining and monitoring SLOB provision and NCR (Noncompliance Report) for Obsolete, Slow Moving and Damage Inventories.
• Assist Finance Director and Plant Financial Controller in ad hoc reporting and requirements;
• Reviewing insurance coverage on monthly basis against insurance policy;
• Maintain an adequate control on expense booking, inventory consumption and movement, capitalization of Fixed Assets, tracking of Work in Progress CAPEX to ensure cost are being captured into relevant Cost Centers, Business Group and specific categories (212 Cost Centers and 20 Business Group);
• Preparation of MOH, Payroll and CAPEX budget and perform monthly forecasting to capture the changes in quarterly budget review;
• Performing Monthly variances analysis of MOH, highlighting the key variances and providing rationale and or justification to finance director;
• Managing the closure of monthly books of accounts and producing management reports.
• Single Handed Payroll Management of 500+ Employee, validating the payroll records of each month provided by the HR;
• Responsible for CAPEX management, including monitoring monthly commitments, spending and capitalization and performing variance analysis of budgeted / unbudgeted CAPEX;
• Handling Hedge Accounting in compliance with IAS 39 and Analysis of market trends on future contracts undertaken by the company related to Grain Price Hedging;
• Identifying cost savings initiative in Liaise with SCL and OPS Director to reduce the overhead expenses;
• Assist to Plant Financial Controller and Operation Finance Director in ad hoc reporting and requirements;
Deputed at Al Ain Dairy
Responsibilities:
• Implementation of Balanced Scorecard in Dairy Industry;
• Part of Strategic Workshop sessions related to Balanced Scorecard, identification of Strategic initiatives, translating Vision & Mission to Corporate Strategy, implementation of process and obtaining buy-ins from HODs;
• Assisted in performing business risk analysis and suggested precautionary measures to mitigate identified risks
• Preparation of Finance Manual and Corporate Governance Manual;
• Assisted in preparing a detailed report on Corporate Strategic Objectives, SWOT Analysis, Balanced Scorecard Methodology, Growth Strategy and Market Analysis;
• Finalization of Financial Statement for Yearly Audit
• Finalization of Monthly Management Accounts;
• Income Estimation of various businesses and individuals;
• Preparation of Various month end reports;
• Conducted monthly meetings with senior management regarding accounting and other financial issues;
• Coordinated with External Audit Team and assisted in resolving issues pertaining to various financial matters;
• Assisted and participated in preparation of different audit reports, compliance reviews as per requirement of audit team;
• Lead a team of accounts department of 5 companies;
• Maintain the record by posting the entries in ERP software;
• Reconciliation of Cash and Bank Balances
• Maintain the employees data base;.
➢ Karachi Port Trust
Internship
Duration: From January 2011 to August 2011