Senior Accountant
Darwish Interserve Facility Management
Total years of experience :21 years, 2 Months
Directly reporting to the Chief Accountant & Finance Manager.
Handle and manage the GL, Fixed Asset Management, Cash Management and Supplier/Subcontractor payments.
Prepare various MIS reports (i.e. P&L vs. Budgets), Balance Sheet, Cash Flow, Daily Bank Position, Weekly Aging and Collection report.
Monitor the Direct and Indirect (Overhead) Costs at a minimum or desired level.
Focal person during external audit.
Prepare other special reports as directed by the Finance Manager.
o Directly reporting to the country manager and functionally, to the financial controller in head office-KSA.
o Assisted with successful migration of the software from Microsoft Great Plains to ERP Oracle.
o Maintained effective internal controls, participated in developing & implementing of policies and procedures, reviewed financial performance and revamped financial operational procedures to deliver maximum profitability
o Manages the activities of the finance department to ensure the accurate and timely dissemination of monthly, quarterly & yearly financial statements and management reports and information to the Country Manager and head office in KSA and UAE.
o Ensure the accuracy and integrity of the Group’s accounting records and financial systems
o Prepares annual financial budgets (e.g. Sales, COGS & labor cost, CAPEX) and business plans and ensure timely submission to the head office for approval.
o Oversee payroll through WPS and filing of monthly withholding tax.
o Worked closely with internal audit as well as with external auditors during quarterly reviews as well as the year end audit.
o Manage insurance renewal of the company
o Perform financial analyses projects as requested by corporate management and head office.
o Partnered monthly with key members from Human Resources, Supply Chain and Operations to discuss impacts of payroll & other expenses to P&L.
o Advise management on matters that effect P&L and KPIs, such as effective use of resources and assumptions underlying budget forecasts.
o Monitoring company’s performance, efficiency and benchmarking it to pre-agreed KPIs.
o Conduct special studies and projects as may be assigned by the country manager.
o Plans and executes various financial, compliance, and operational audits in accordance with accepted professional standards in order to determine compliance with institutional policies and procedures and adherence to applicable laws and regulations.
o Provides assistance on financial, compliance, and operational audits in accordance with accepted professional standards
o Under the supervision of the Internal Audit Manager.
o Develop detailed audit plans and programs.
o Assist in the planning phase on assigned segments of an audit.
o Evaluate the adequacy and effectiveness of internal controls. Assist in the process of evaluating the adequacy and effectiveness of internal controls.
o Execute detailed audit procedures, including reviewing transactions, document, records, reports, and policies and procedures for accuracy and effectiveness. Perform specific audit procedures and prepare working papers documenting the audit procedures performed.
o Prepare comprehensive written reports.
o Follow-up to determine adequacy of corrective actions.
o Maintain and update local accounting systems and ensure that information produced is complete, accurate, reliable and timely.
o Ensure that local cash resources are properly managed; control working capital and optimize group cash flow; monitor accounts receivable / movement and investments closely and institute necessary measures to ensure collection of overdue accounts; review and make recommendations for action on bad debts. Perform regular audits of cash resources, disbursements, deposits and petty cash funds.
o Rigorously apply group accounting, corporate and treasury policies; remain up-to-date with all financial, tax and legal legislation which may affect the business.
o Timely preparation of financial and / or group reports & local statutory accounts, tax returns as well as payment of staff payroll and benefits
o Work / liaise with country manager, group & local auditors, pension trustee bank and other staff as needed
o To supervise accounting staff.
o Monitor compliance with Generally Accepted Accounting Principles (GAAP) and company procedures.
o Review, investigate, and correct errors and inconsistencies in financial entries, and reports.
o Coordinate monthly closing as well as maintenance of all accounting ledgers including monthly review of all account reconciliations and journal entries.
o Prepare all financial statements; including Profit & Loss Statement, Balance Sheet, and Statement of Cash Flows and other financial reports.
o Prepare quarterly cigarette sales forecast and analysis of the performance of competitors as well as marketing trends.
o Analyze monthly regular and special budgets to maintain reasonable expenditures.
o Prepare a variety of studies, reports and related information in assisting the Resident Manager for decision-making purposes.
o Prepare all tax filings (Corporate, Sales, Employer’s Withholding, FICA, and Excise) and ensure a timely and accurate reporting and payments to regulatory agencies & tax authorities as required.
o Responsible for product costing / pricing analysis and applies cost accounting methods to achieve accurate representation of cost center performance.
o Monitor monthly inventories and prepares necessary month & year-end adjustments.
o Closely maintain and monitor the fixed asset system.
o Handle bank reconciliation and payroll.
o Liaise with Division of Customs officers for clearing & inspection of inbound shipments (imports).
o Handle renewal of government statutory licenses & permits.
o Update company regarding changes in legislations that may affect the business operations.
o Performed compliance review on company’s operation and financials.
o Performed Audits of company’s books and assist external auditors during year-end audit.
o Provided support to Finance on Accounting Software.
o Examined internal controls to detect deficiencies. Prepared concise written reports, identifying deficiencies and make recommendations for corrective action.
o Reported all compliance issues immediately to the appropriate party.
o Maintained current knowledge of issues related to compliance (e.g., BIR Rulings, & the like)
o Handled migration of accounting system from manual to computerized accounting system.
o Monitored and checked daily cash sales, remittance and deposits, settlement of credit sales from credit card companies and promotional activities.
o Conducted surprise counts of Inventory on hand of shoes and garments, examined deliveries and store’s sales report, reviewed Inventory report and established final losses if there’s any.
o Reviewed existing systems and procedures to insure complete documentation of transactions and proper implementation of duties and responsibilities of each member of the organization to minimize if not eliminate errors and avoid fraud.
o Prepared memorandum on important features and any differences noted in the review, any changes or improvements suggested correcting them.
o Examined the business, developed and maintained client relationship by obtaining knowledge about the client’s business and its processes and industry practices as a whole.
o Assessed client’s accounting system and controls in place, in order to identify risks, weaknesses and other areas for improvement for management consideration as well as developed and communicate to clients constructive recommendations.
o Prepared audit working papers in accordance with the firm’s policies and procedures.
o Prepared the auditor’s report, clients’ audited financial statements, income tax returns and related schedules required by government agencies, if applicable, management letters and other communication relative to the engagement.
