Mohammed Aijaz Ahmed
Chief Accountant
Dubai
Summary of Career
1. • Report to the CFO and deal with all aspects of accounts management as a member of the company’s management team contributing to setting of business objectives and targets
2. • Lead and coordinate the development and implementation of accounting policies and procedures to provide accurate and on time inputs for strategic decision making
3. • Supervise the finalization of books of accounts and preparation of financial statements complying with applicable standards for submission to the head office
4. • Review and approve of financials of all food & beverage (F&B) units ensuring completeness, accuracy and compliance with standards
5. • Monitor all revenue and expenses to control cash flows as per agreed plans and arrange funds to meet requirements of other units
6. • Participate in formulation of capital and operations budgets for the company and monitor costs and expenses to achieve budgetary compliance
7. • Review and approve payrolls ensuring accuracy
8. • Conduct monthly reviews of sales and purchase reports, perform variance analysis and recommend appropriate corrective actions
9. • Monitor and ensure consistent implementation of and compliance with all company policies, procedures and guidelines
10. • Coordinate and provide all required accounting documents and inputs for on time completion of internal and statutory audits
Experience as Senior Accountant
01 May 2001
31 December 2007
a) Processing & issuing job orders for purchase order and contracts received followed by preparing invoices upon completion of orders & follow up for receivables with project managers & collection department.
b) Reconcile receivables statements at the end of each month and forward statements to all customers for balance confirmation
c) Follow and expedite the inward letter of credits after completing all formalities as per the instrument to avoid any discrepancies.
d) Liaise with various banks for issuance of Bid, Advance Payment & Performance guarantees for the new project and track upon expiry.
e) Prepare cash flow statements in coordination with project & engineering department of major project & followed other requirement for submission to banks to avail & maintain bank facilities
f) Drawing of individual project statements at the end of each month, reconcile with cash flow and budgeted figures and prepare the report for the variance, if any.
g) Interact with senior managers for various requirements for the related projects and update them with the status
h) Reconciling of accounts payable on monthly basis with proper documentation such as bills, purchase orders, stores entry vouchers and sub contractors payment certificates duly approved by procurement and concerned manager.
i) Review and approval of sales orders and purchase orders Administer cash collection and accordingly preparing payment schedule for all vendors, contractors and other parties at the end of each month as per internal policy and procedures and getting the payments prepared
j) Drafting of letter of credits and follow up with banks for local and international vendors and later follow up to close the same and avail TR and process payments to vendors thru bills for collection and transfers using TR facilities
k) Ensuring of materials procured, bills received and cash transactions are accounted to the true account head and later reconcile with budgeted Vs actual
l) Arrange for physical inventory check at the end of each year and prepare reports accordingly for the management and for closing purpose
m) Preparation of monthly payroll for all staff after collecting full information from administration department, such as attendance and overtime by each project, leave & other deductions or additions and arrange for disbursement with cashier
n) Preparation of monthly journal entries for all payroll accruals as per UAE Labor Law such as leave, ticket, ESOB, bonus and any other provisions.
o) Act in a personal assistant capacity to the Manager Human Resources e.g. analyzing the cost effect of various administrative expense proposals.
p) Agree priorities with Heads of Departments and ensure the deadlines required are achieved
Above all liaise with Banks’ Relationship Managers for reconciling and providing necessary documents such as cash flow for projects, in-house financial statements, etc., for updating and maintaining facilities extended. Processing guarantees for Ministry of Labor. Drawing up of trial balance at each quarter and preparing reports for Accounts & Regional Manager for weekly meetings. Liaise with auditors, arrange for audit & prepare all supporting & schedules required for monthly closures & audit finalization.
Experience as Chief Accountant
01 January 2008
30 June 2009
• Maintain general ledger & all related accounts and assure accuracy for entries to general & subsidiary ledger that compliance with the company policies and procedures, control all changes to chart of accounts.
• Month and Year end closing of the general ledger.
• Administers preparation of interim, year end and comparative financial reports, perform and provide analysis of current results to previous and budgeted
• Prepares monthly bank reconciliation for all accounts, verifies accuracy and resolve problems, maintain integrity of cash balances and cash flow system.
• Ratification of monthly payroll sheets prior to submission to General Manager for approval and disbursement
• Review journals, as per UAE Labor Law, for accruals of leave, air ticket, end of service benefits, bonuses and other staff benefits and reconcile on monthly basis and on yearly.
• Prepare analysis report for payroll transaction with budget and highlight the variance with recommendations for control of payroll expenses
• Review and approve all invoices of suppliers before processing for payment
• Closely monitor the Receivables for maintaining better cash flow
• Ensure existence of fixed asset register & physical verification of assets are done regularly
• Management of Import & Export LCs (Expert in LCs, Bank Guarantees and CAD etc.)
• Preparation of costing sheet for various products
• Liaise with banks and maintain relationship with Bank RMs for the credit facilities extended
• Coordinate with F&A Manager to carry a comparative analysis between monthly actual and budgeted results and cash flow before forwarding to the General Manager
• Assist Finance & Administration Manager in training and management of accountants.
• Represented subsidiary in proper manner in all dealings inside and outside the business unit.
• Arrange and coordinate for internal and statutory audits with the Big4 firms
Experience as Chief Accountant
01 July 2009
26 April 2018
• Supervised maintenance of all books of accounts including general and subsidiary ledgers ensuring on time and accurate recording of all transactions.
• Dealt with monthly and annual finalization of accounts and preparation of financial statements accurately representing the company’s position as per applicable accounting and financial reporting standards.
• Developed and implemented accounting and policies and procedures aligned to industry best practices as well as international accounting and financial reporting standards.
• Coordinated with various departments to gather and consolidate budget proposals, coordinated preparation of annual budgets and monitored budgetary compliance.
• Supervised the accounts receivable and implemented the company’s credit policy following up with sales for on time collections from customers ensuring minimization of credit risk.
• Managed the accounts payable process ensuring validation and payment of suppliers’ invoices as per purchase order terms and conditions.
• Liaised with banks for reconciliation of accounts, arranging of banking facilities including short term funding, letters of credits and bank guarantees and managed cash flows as per plans.
• Reviewed and ratified monthly payroll statements ensuring accuracy and compliance approved manpower budgets with recommendations to correct variances.
• Provided accounts inputs for computation of product prices and participated in developing pricing strategies to maintain targeted margins
Experience as Chief Accountant
06 May 2018
31 October 2019
• Report to the CFO and deal with all aspects of accounts management as a member of the company’s management team contributing to setting of business objectives and targets.
• Lead and coordinate the development and implementation of accounting policies and procedures to provide accurate and on time inputs for strategic decision making.
• Supervise the finalization of books of accounts and preparation of financial statements complying with applicable standards for submission to the head office.
• Review and approve of financials of all food & beverage (F&B) units ensuring completeness, accuracy and compliance with standards.
• Monitor all revenue and expenses to control cash flows as per agreed plans and arrange funds to meet requirements of other units.
• Participate in formulation of capital and operations budgets for the company and monitor costs and expenses to achieve budgetary compliance.
• Review and approve payrolls ensuring accuracy as well as adherence to applicable policies and procedures, coordinating with the personnel department in resolving all discrepancies and issues.
• Conduct monthly reviews of sales and purchase reports, perform variance analysis and recommend appropriate corrective actions.
• Review and approve purchase orders ensuring satisfaction of budgetary requirements as well as approved policies and procedures.
• Monitor and ensure consistent implementation of and compliance with all company policies, procedures and guidelines.
• Coordinate and provide all required accounting documents and inputs for
• on time completion of internal and statutory audits and follow up corrective actions for audit points/observations.
Bachelor 31 March 1995
Bachelor of CommerceOther 23 August 2013
Certified Management Accountant