Manager, Financial Accounting
Maaden Phosphate Company
Total years of experience :20 years, 2 Months
Key Projects to Credit
1- Full Detailed Fixed Assets Register:
2- Played a key role in development of IT Modules for Finance, HR and Materials functions within the company. Leveraged IT to solve key financial issues: . Project Key Benefits are:
- Reduce the Working time by using finance modules & having all financial modules reconciled.
- Better, more detailed financial repots.
- Full integration between the company’s Depts. Modules & having full reconciliation results between them.
- Applying full monitoring over the budget consumption.
Moreover, 2 of Maaden’s affiliates, had already approach us to role out our enhancements to them & it was instructed by Maaden’s CFO to all Maaden’s affiliates to use MPC’s financial reports templates in all the company’s affiliates.
3- Enhancing the companies Financial Policies and Procedures:
Responsibilities:
Financial Reports Generation
• Responsible for generating financial and accounting records at regular intervals (monthly, quarterly and yearly) with a view to aid management decision-making.
• Implementing systems for record creation and maintenance for separate heads in the balance sheet and reviewing accuracy of entries from time to time.
• Communicating with external stakeholders including statutory auditors and government officials for matters of taxation and statutory compliances.
• In-charge of preparing budgets and calculating variances (actual vs. budgeted). Also worked on Capex and Opex budgets for major projects of the organization.
Project Accounting & Financing
• Handling finances for commercial production schedules of the company with special attention to fixed assets inventory, stores, bookkeeping and ledger updates.
• Responsible for ensuring precise fund flows during production runs and managing an all-inclusive set of activities from administrative tasks to finance related operational efficiency issues.
• Working on elimination of bottlenecks in specific areas of utilization of capital, materials management, inventory movement analysis and amortization of assets over the specified periods.
Fixed Assets Management
• Maintain fixed assets register according to statutory norms laid down by the IT department, company policies and auditor requirements. Using ERP (Oracle) based solutions for better management.
• Responsible for application of precise depreciation rates and methods based on the age and book values of assets.
• Head of the company’s assets disposal committee.
Other Responsibilities
• Working on function-wise modules in Finance such as (Fixed Asset), HR such as(Payroll) and Materials Management (Inventory Control). Responsible for consolidation of data at the SBU level and presenting strategic reports to the management.
Key Projects to Credit
• Instrumental in setting systems for the Finance & Accounting department managing finance tasks of all business units (Al-Arabiya News Channel, MBC-Production, MBC-News, MBC-FM, MBC- Engineering, New Media, ARA Production). Introduced requirement specific ERP solutions.
• Member of Purchasing and IT/Engineering Committee.
Responsibilities
Financial Reports Generation
Responsible for generating financial records at regular intervals (monthly, quarterly and yearly) with a view to aid management decision-making.
• Implementing systems for record creation and maintenance for separate heads in the balance sheet and reviewing accuracy of entries from time to time.
• Communicating with external stakeholders including statutory auditors and government officials for matters of taxation and statutory compliances.
• In-charge of preparing budgets and calculating variances (actual vs. budgeted). Also worked on Capex and Opex budgets for major projects of the organization..
• Responsible for ensuring precise fund flows during production runs and managing an all-inclusive set of activities from administrative tasks to finance related operational efficiency issues.
Accounts Payable Unit
• Streamlined existing payment schedules of suppliers to ensure that cash outflows can be managed effectively through a mutually beneficial credit line arrangement with most of the suppliers.
• Modified the working capital cycle to ensure optimum utilization of available cash and maintain the necessary liquidity position.
Accounts Receivable Unit for ARA International and MBC Group (parent company)
• Handled Accounts Receivables through investigation of ageing reports and modifying terms of credit given to customers / clients. Managed to increase effectiveness of inter-divisional collaborative efforts.
Intercompany Reconciliation
• Managed finalization and consolidation of monetary records for data collected from all business units under the parent company in KSA.
• Ensured that entries in books of accounts are self-explanatory, unambiguous and supported by relevant documents.
Merger
• Worked on the merger between Old MBC Group Jeddah and New MBC Group Riyadh. Chief activities included following an accounting roadmap for correctness of books of accounts, presenting audit reports, assessment of recorded transactions, valuations, classification of assets, treatment of intangibles and scrutinizing provisions made for contingencies.
Budgeting.
• Responsible for budgetary control and nonconformity management in case of excess amounts spent by a business unit.
Head of Accounting Department at Ameron
. Highlights
• Worked on the SAP Financial Accounting module to assist the team to arrive at better solutions.
• When working with MENA, handled budgeting, preparation of financial statements, customer contacts, general ledger accounts and accounts payables.
• After joining Ameron as Finance Manager, handled responsibilities that had greater financial
implications on the company including cost-benefit analysis of contracts entered into with the government and customers. Also worked alongside the treasurer for fund flow forecasting.
Responsibilities
Accounts Payable
• Managed the entire spectrum of activities for hassle-free payments and maintenance of steady cash balance.
• This included preparation of payment schedules, vendor compensation according to vendor approval matrix, advance payment management, ERP entries, bank documentation, analytical expense reports and reconciliation of books of accounts.
Accounts Receivable
• Handled customers directly for setting payment terms, deadlines and recover dues against pending invoices. Studied customer payment plans, payment history and credit lines from time to time.
• Responsible for invoice preparation, bank liaison, drawing up statements of accounts, filing documents for ready reference, and making adjustment entries wherever required
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