Manager Accounts
Fazal Cloth Mills Ltd
Total years of experience :10 years, 7 Months
COMPANY PROFILE: The Company is the 7th largest textile in the industry, established in 1966, quoted on Pakistan Stock exchange. The company is engaged in the manufacturing and sale of yarn and greige fabric. With annual revenue of USD 280 Million. (June-2023) Job Description: FINANCIAL REPORTING AND MANAGEMENT:
•Managed accounting activities to ensure compliance with accounting principles, policies, and external audits.
•Prepared monthly Profit and loss monthly managements reports and monthly varience and trend analyis.
•Managing the complete chart of accounts and opening new GL codes in Oracle EBS, according to appropriate classification.
•Reviewing and approving the period end adjusting JE's and allocation of different costs. BUDGETING AND FORECASTING:
•Making annual budgets and future expectations based on previous trend and market trend.
•Mapping the budget with actual results on monthly basis and updating the budget when required.
•Fore casting profits based on the available future information and the planning of the management EXTERNAL AUDITS BY KPMG PAKISTAN:
•Point of contact for KPMG team performing the Annual audit and Half year review of the group in accordance with the International Standards on Auditing issued by IAASB and IFAC.
•In depth knowledge of complete cycle of risk-based audit. Worked closely with KPMG team provided all the data, information and explanations as and when required in completion of audit and review of the group.
Job Description: Financial Reporting
•Prepared budgeted and actual cost analysis to identify variances and take remedial measures.
•Ensured recording of period end accruals, prepayments and other period end adjustments.
•Prepared cost flows for pricing decisions based on marginal costing techniques.
•Made monthly stocks valuation of Finished Goods Yarn, Work-in-process & waste. Internal audit Operations
•Made detailed audit plans to assist the manager internal audit.
•Conducted risk-based audit and made reports based on the findings of procedures performed. Suggested improvements and corrective measures.
•Took work-in-process at mill site at start of each month. Attended physical stock count.
Job Description: Accounts Receivable department
•Maintained receivables record for issuing invoices to customers and processing receipts.
•Reviewed sales contract to ensure accurate invoicing.
•Managed processing of debit notes issued by the customer for discrepant invoices.
•Obtained CPRs from debtors for amounts withheld on account of advance income tax. Fixed Assets and insurance
•Maintained fixed assets register, mapped transfer from CWIP and tracked with the capex.
•Maintained record for fixed assets based on cost and revaluation model.
•Ensured appropriate insurance coverage for stocks pledged with the banks.
•Prepared projections and feasibilities for expansion projects of the Company. Accounts Payable Department
•Maintained accounts payables record for supplier's invoices and payments.
•Scheduled payments AP invoices in line with agreed terms with suppliers.
•Resolved invoice discrepancies and ensured all credit notes are duly accounted for.
• Recorded sales and purchase transactions on daily basis.
• Made customers’ accounts reconciliations. Made bank reconciliations.
• Took of physical stock count of Closing stocks at all warehouses periodically.
• Calculated valuation based on lower of costs and net realizable values.
MICROMICRO ECONOMICS MACROMICRO ECONOMICS ECONOMETRICS RESEARCH METHODOLOGY MATHEMATICAL ECONOMICS