Senior Accountant
AAF International
Total years of experience :18 years, 0 Months
Responsible for the management and performance of all the daily accounting activities and operations of the 2 Companies (and its business units) namely: AAF International Air Filtration Systems LLC and AAF International FZE. These include (but not limited to):
• Make sure that all accounting records are correct and in accordance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS).
• Receivable Accounting and Management:
Closing and reviewing of sales invoices (as per INCOTERMS and Margin Ratio) from sales coordinator of each business unit; these includes sales from the stock and drop-shipment sales
Verifying cash receipts from customers and clearing the cash receipts on customer subsidiary ledger
Producing Aging of Accounts Receivables; discussing the overdue invoices with management and to sales coordinator to follow up payments; setting up provision for bad debts as per company’s policy
Sending Statement of Account to Customers and resolve any discrepancies
Issuing Credit Note or Debit Note to customers for any approved adjustment
• Accounts Payable Accounting and Management:
Reviewing supplier’s invoice as per company’s policy, contract terms and level of Authority (LOA); making sure that the supplier invoice is completely approved by management as per LOA
Once approved, posting the supplier’s invoice on its proper business units, cost center and GL accounts
Reconcile supplier’s statement of account with our subsidiary ledger; resolve any discrepancies
Prepare semi-monthly batch of payments for approval; preparing cheque and online transfer payments
Posting the payments and clearing the invoices in the suppliers’ subsidiary ledger
Creating Purchase Orders in the system
• Monthly Closing and Financial Reporting:
Preparing bank reconciliation (multiple 12 bank accounts) and preparing JV for all reconciling items
Maintaining monthly schedule of fixed assets and setting monthly depreciation
Maintaining monthly schedules for prepayments and accruals
Completing all monthly journal entries & accruals, making sure that all expenses incurred are accrued
Preparing necessary financial reports and analysis to be submitted to Head Office in UK and Netherlands
• Managing and reconciling of all 10 Intercompany transactions and sending statements to affiliates (payables & receivables)
• Project Accounting Management:
Issuing Sales Invoice to customers as per approval and coordination by Project Manager.
Creating Project Number for new project/ orders received from customers and updating the project sheet
Creating Purchase Orders in the accounting system for all the projects
Preparing monthly project sheet and computing percentage of completion for each project.
Discussing monthly with project manager to update the status of each project
Obtaining from project manager the updated cost sheet for each project; allocating time of each engineer from Salaries Expenses to Work-in-Progress account.
Making sure that all invoices are accounted to Work-in-Progress.
Preparing journal for Revenue and Cost Recognition based on computed percentage of completion.
• Performing Other Duties
Monthly budgeting of cash position by projecting the monthly payments/ cash outflows and expected receivable collections
Liaise with external auditor, Delloite, during year end audit for 2 companies.
Liaise with internal auditor during SOX internal audit, Sarbanes-Oxley Compliance Audit
Acting as Factory Accountant (during his vacation) by performing all daily activities in the Factory such as: creating work orders for new orders to be manufactured; sending raw material lists needed; closing work orders once finished; creating purchase order and sending to suppliers; issuing sales invoices to customers
Responsible for assisting the Senior Accountant and CFO in performing the daily accounting activities and operations of the Company. These include (but not limited to):
• Make sure that all accounting records are in accordance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS).
• Review, process and post all suppliers’ invoice on time. Prepares journal entries and identifies the proper Cost Center/ Profit Center.
• Prepares cheques, telegraphic transfers, standing instructions to the bank, and liaise with the bank
• Review, process and post the monthly due invoices payable to factories/ affiliates worldwide thru Netting Centre.
• Review, process and post monthly all Expense Claims submitted by Managers. Make sure that it is in compliance with the existing Company’s Policy and Procedures.
• Review and reconcile monthly the Intercompany Payables and Receivables to all Affiliates of Getinge Group worldwide.
• Checking, processing and posting the monthly Petty Cash Summary Report.
• Assisting in finalizing the month end closing process.
• Assisting in reporting the Financial Reports to Head Office in Germany.
• Performing receivable management by sending reminders and coordinating with the customers.
• Performing analysis in all material or unusual variation of expenses of the company.
• Documentation of Process and Controls, Mapping the Process and Sub-process, Assessing the internal control on documented processes (particularly in Revenue, Purchasing, Inventory & Financial Reporting) for the COSO Internal Control Audit.
• Proposing and implementing some company’s internal control policies and procedures.
Software Used: SAP (Systems, Applications and Products in Data Processing).
Responsible for assisting the Accounting Manager in directing and supervising the accounting operations and accounting staffs assigned in the location/branch/section
Specific Duties and Responsibilities:
1. Make sure that all accounting records are in accordance with Generally Accepted Accounting Principles (GAAP).
2. Check the Vouchers Payable prepared:
• Check if the Standard Company’s Procedures in vouchers payable preparation and payment are complied with
• check the correctness of journal entries before posting to SAP/ General Ledger.
3. Process and review the billing statements (Statement of Account) for tenants.
• Review the journal entries posted on general ledger
• Review the completeness and correctness of documents supporting the accounting entries.
4. Review the Journal Voucher at month end.
• Review the completeness and correctness of accruals, depreciation and amortization
5. Checks all required reports submitted by subordinates relative to sales, expenses, payables, inventory and other reports needed by Management.
6. Prepare monthly Balance Sheet and Income Statement per segment reporting.
7. Prepare Notes to Financial Statements
8. Perform month end/ semi-annual physical count and reconcile the discrepancies.
9. Maintains and reconciles General Ledger Accounts.
10.Assist/ support the Accounting Manager in making management decisions
Performed audit procedures to determine existence, adequacy and effectiveness of internal controls, to ascertain compliance with internal policies and procedures and to recommend control measures that will promote efficiency in the processing systems and mitigate the risks in the day-to-day operations.
Our audit focuses mainly on the review of the core processes to ascertain the presence, adequacy and effectiveness of internal control and procedures, such as, cash management, loan management, advances to suppliers and officers, expenditure cycle/ purchases, financial reporting, related party and business associate transactions, and other material/ necessary core processes.
The audit procedures we performed include:
• Preparing an Audit Program for job assignment/s based on audit objectives as authorized by the Internal Audit Manager.
• Obtaining material documents, such as Operation Manual, and performing analysis and other necessary procedures.
• Conducting preliminary interview with concerned personnel for the documentation of business understanding and key processes and for further clarification of data/ issues noted in critical documents received.
• Conducting process flow analysis and preliminary risk and control assessment (audit fieldwork).
• Conducting test of controls to check whether control procedures are applied as prescribed, how control procedures are performed, who performed them, and the consistency with which they are applied during the period in the attainment of the group’s objectives (compliance testing and operation audit).
• Preparing an Audit Report which summarizes the audit findings and recommendations.
External Financial Auditor
External Auditing Services
Financial Statement Audit:
• Leading the audit to each Company (Client) handled, assessing the effectiveness of company’s internal control, executing the audit procedures in accordance with International Auditing Standards, reviewing the working paper of the auditors, and directing or supervising the other auditors in the audit group.
• Obtaining evidence that the accounting records/ reports are free from material misstatements and in accordance with International Accounting Standards and International Financial Reporting Standards
• Preparing Audited Working Trial Balance, Finalizing the working papers and financial reports
Preparing Audited Financial Statements and Notes to Financial Statements to be submitted to Securities and Exchange Commission (SEC) for statutory requirements.
Compliance Audit:
Performed audit procedures to ascertain whether the internal control and accounting manual implemented by Client were complied with by responsible officers and employees (Compliance Audit).
Accounting Supervisor (Temporary)
BPO Accounting Services
Supervising and leading the accounting staffs assigned / outsourced to clients.
This responsibility includes - but not limited to the following: Completing the Full sets of Accounting records effectively and correctly. Make sure that all accounting records are in accordance with Generally Accepted Accounting Principles (GAAP). Reviewing the reports, reconciliation, schedules, journal entries, check vouchers, sales invoice, journal vouchers and other management reports prepared by staffs.
Obtained the degree of Accountancy with a general average of 85%. Accomplished and passed all the major and minor subjects in scope of four years without any failing grades. Included in Top 100 students out of 2,000 students.