Chief Accountant
Real Estate Projects House Co.
Total years of experience :19 years, 5 Months
Responsibilities:
• Manage and oversee daily operations of the finance and accounting division including month/end-year processes, AR/AP, GL, budgeting, cash forecasting, revenue and expenditure variance analysis, etc.
• Lead the accounting team in managing full spectrum of accounting activities; manage company’s accounting, monitoring and reporting systems; respond to accounting inquiries from management in a timely manner.
• Support in managing all financial and cost accounting transactions including AP/AR, financial closing and consolidations, reconciliations, maintaining chart of accounts and controlling fixed assets, ensuring compliance to the company policies.
• Direct the maintenance of general and subsidiary ledgers, accounts receivable, revenue distribution, depreciation, cost, property, operating expenses and insurance records.
• Direct and participate in cost analyses & rate studies; prepare statements/reports of estimated future costs and revenues.
• Perform monthly analysis of outstanding receivables from tenants and analysis of outstanding payables to contractors.
• Perform bank reconciliation to compare the balance in the bank as per the company’s accounting records with the balance stated in the bank statement, as well as prepare bank reconciliation statements.
• Establish system controls for new financial systems and develop procedures to improve existing systems.
• Assist in the development and implementation of goals, policies, priorities & procedures related to financial management, budget, accounting and payroll.
• Liaise with auditors during audits, provide accounting and financial information and address queries raised by them; furnish supporting documents, vouchers and proofs during audits.
• Maintain accurate and up-to-date records of all accounting transactions; analyze financial discrepancies and recommend effective solutions; protect organization’s value by keeping information confidential.
Responsibilities:
• Managed full spectrum of financial accounting including invoicing, refunds, purchasing, payment vouchers, payrolls, collection of account receivables, financial reporting, etc.
• In-charge of maintaining books of accounts, posting journal entries to the ledger, handling GL reconciliations, rectifications and accounting adjustments and preparing trial balance and financial statements.
• Supervised the closure of daily and monthly books of accounts; provided timely explanations of variances between actual results and forecasts/budgets; provided corrective action recommendations to management.
• Followed up on budget execution and cash flow, issued periodic reports on budget execution progress, and ensured corrective alternative solutions in case of deviation.
• Examined bank statements, performed bank reconciliation to compare the balance in the bank with the balance stated in the bank statement and prepared bank reconciliation statements.
• Maintained external & internal fixed assets and entered the appropriate cost in the respective site’s account.
• Managed clearance of final dues of ex-personnel as per company’s policy and Kuwait Labour Law.
• Maintained payroll record on computerized payroll system and upgraded payroll system as per operational requirements.
• Prepared JV for payrolls and entered them in the accounting system for cost reporting; coordinated with the bank for various issues related to the payroll & labour related problems.
• Maintained records of lease & rented vehicles, coordinated with Department Heads for necessary approvals, followed up on expiry dates & extensions of contract period and prepared report on status of rented vehicles from all suppliers.
• Analyzed accounting data and produce financial reports for management team including income statements, balance sheets, and analysis of future earnings/expenses to interpret current & projected financial position of the company.
Responsibilities:
• Handled daily accounting and financial transactions in the company including accounts payable/receivable, general ledger, bank reconciliations, and month-end and year-end closing.
• Monitored and analyzed accounting data, oversaw maintenance of accounting records, verified accounting heads assigned to transactions and ensured appropriate preparation of GL, trial balance and financial records.
• Followed up on cash flow and budget implementation, issued periodic reports on budget implementation and offered alternative solutions in case of deviation.
• Performed budget versus actual comparisons and reported to management on variances from the established budget along with the reasons for those variances.
• Checked all invoices for proper documentation and made agreement prior to payment; classified and matched invoices and check requests, ensured signing on all checks and allocated checks.
• Followed store inventory, entering and exit of materials; made entries of receipt, payments & JVs in ADVAC program.
• Responsible for accounting of projects cost of each project, prepared expected costs lists of each project as well as prepared monthly payments of projects.
• Followed up with subcontractors and prepared final accounts.
• Monitored, recorded, classified and summarized financial transactions in accordance with international accounting principles and financial reporting standards.