SHUJAAT HUSSAIN
Cost and Management Accountant
Abu Dhabi
Summary of Career
1. +9 Years experienced, detail-oriented, efficient and organized professional with extensive experience in accounting systems
2. +3 Year Experience in the field of taxation, including Sales Tax, VAT, Income Tax, Provincial Taxes, excise and Import
3. Experienced in ADNOC-ICV Audits and Financials Audits for the companies
4. Extensive knowledge of keeping records, maintain the records and track the financial transactions
5. Skilled in budgeting and Cost controls
6. Excellent written and verbal communication skills
7. Resourceful in the completion of projects, effective at multi-tasking
8. Skilled at Variance Analysis and Management Reporting
9. Experienced in Decision Making Analysis, Project Reporting and skilled in Product performance analysis
10. Possess strong analytical and problem-solving skills, with the ability to make well thought out decisions
Experience as Finance Manager
01 November 2019
• Designing and establishing Banking Channels to control cash flows of the company
• Arranging of finance from banks for the long run project of the company
• Forecasted Revenue, Financial Statements and Cash Flow Statements of the Company
• Capital Budgeting and Payback period computation for new projects
• Budgeting and forecasting analysis reports for decision making of the management
• Preparation of Presentations with accounts and Finance Point of View to discuss the matters with the senior management’
• Drafting agenda items for the Board meetings
• Review and manage the work of the team members in Accounts & Finance Function
• Weekly review of Accounts Receivables and Accounts Payable Divisions and review of schedule of payments
• monitoring and interpreting cash flows and predicting future trends
• analyzing change and advising accordingly, formulating strategic and long-term business plans
• researching and reporting on factors influencing business performance
• developing financial management mechanisms that minimize financial risk
• conducting reviews and evaluations for cost-reduction opportunities
• managing financial accounting, monitoring and reporting systems and producing accurate financial reports to specific deadlines
• liaising with auditors to ensure annual monitoring is carried out
• developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organizations such as the Inland Revenue
• Reviewing the changes in applicable laws and regulations and reviewing their impact on the organization
Experience as Senior Accountant
01 July 2018
31 October 2019
Established in 2008, Quick Step Manufacturing is a new generation GRP Manufacturer, which is successfully pursuing its long-term goal of becoming the leading organization for the manufacture and supply of all types of GRP components in the Middle East.
KTI is registered with ADCO, ADMA-OPCO, GASCO, ADNOC & Takreer for performing Non-Destructive Testing (NDT) and third party inspection services.
Key Achievements:
1. Finished Financial Audit for the years 2016, 2017 & 2018 within 8 months of Joining for Quickstep.
2. The audit provided the basis to fulfil vendor list criteria for ADSSC, ADNOC, ADWEA and Abu Dhabi Municipality-Quickstep
3. Finished ADNOC-ICV Audit (In Country Value Audit) for Quickstep Manufacturing within 8 months of joining.
4. Designed internal control system for requisition, authorization and reporting structure for controlling costs
5. Based on my performance in Quickstep, the company entrusted me with the responsibilities to manage financial reporting of KTI
6. Converted unfavorable consumable and overhead levels to absorbable level by reducing them to 16.5 %
Key Result Areas:
• Preparing Balance sheet, cash flow statement and profit & loss accounts at unit level; ensuring integrity of all reported financial statements
• Coordinating with:
o Banks TR to keep track of funds utilization & financial performance
o Bankers, External Auditors, Suppliers and clients
• Planning & executing monthly / quarterly / annual closure schedules
• Bringing Financial Control in accordance to IAS & IFRS
• Conducting:
o Variance Analysis to determine difference between actual and budgeted sales and expenses
o Breakeven analysis on different sales mix & accessing the performance of each profit center
• Ensuring alignment of cost systems and reporting with business needs, goals & objectives
• Reviewing KPI’s for each department based on analysis of sales, customer wise & product wise
• Following up for payments & collections received and evaluating debtors / creditors aging reports
• Providing feedback to top management on financial performance, viz. monthly profitability and age-wise analysis of debtors
• Preparation of budgets for sales, expenses, cap-ex, op-ex
• Updating actual costs & standards in bill of materials
• Performance revenue & expense review to improve revenue forecasting
• Monitored inward and outward documentation with letter of credit and import & export bills of material
• Conducted analysis of Gross profit (GP) and Contribution Margin (CM) for decision making purposes
Experience as Senior Accountant
01 March 2017
30 June 2018
Novelty Furniture Manufacturing was established in 2013 as leading furniture manufacturer in AL Ain. It has a sister company in Abu Dhabi as Lines Definition Décor for interior designing. Both companies have more than 30 Million of turnover to date and performing well in the local market in order to meet customized needs of clients.
Key Achievements Include:
• Successfully finishing the Financial Audit for preceding 3 years including 2014, 2015 & 2016
• Establishment of Reporting Structure in the organization for Group Financial Reporting
• Designing of departmentalization and defining Job responsibilities
• Streamlining of procedures for acquisition of funds from the company by each department
• Efficient Management of working Capital for avoiding operational hazards
• Managed to bring company’s unfavorable outstanding aging into a favorable outstanding aging
• Restructuring of Suppliers in order to reduce Cost through comparison analysis
• Recently establishment of Value Added Tax Structure and Tax Reporting in the Organization
Key Responsibilities Include:
• Preparation of Monthly Budgets in order to meet cash flow requirements
• Preparation of Financial Statements in order to reflect financial position of the organization on quarterly and yearly basis
• Preparation of Annual budgets including sales, payroll, op-ex and cap-ex for better control
• Preparation of Bank Reconciliation Reports and meeting the banking requirements of the Organization
• Recording Sales Invoices in the System, follow up for collection of Payments from clients , resolving conflicts with clients related to invoicing
• Managing Accounts Payable Department in order to meet the requirements of Supply Chain
• Supervising the departments of Procurement, Credit Control and Project Cost reporting
• Preparing and recording of Assets, Liabilities, Revenue, and Expenses Entries by compiling and analyzing account information
• Reconciling and monitoring cash funds (i.e. petty cash fund, payroll fund, etc.)
• Establishment of Tax Structure in order to file VAT Returns on Timely basis in the organization
Experience as General Accountant
01 April 2015
31 March 2017
Key Achievements Include:
• Supervision of accounts department to enable submission of accurate and timely reporting
• Clearing of Back Logs almost 1.25 years
• Preparation of Fixed Assets Register from Scratch Level
• Streamlining of procedures for acquisition of funds from the company by each department
• Introduction of Revenue, Food Cost and Fixed Cost Reports
• Took measures to control Food Cost brought down to 21% from 26%
• Preparation of Annual Budgets including Revenues, Payroll, Fixed Costs and Op-ex.
Key Responsibilities Include:
• Preparation of Statements including Cash Flow Statement, Income Statement and Statement of Financial Position
• Performing Month end accounting and inventory closing activities.
• Producing an accurate set of month end accounts with comparisons of forecasts
• Reconciliation of Bank Accounts, Scrutiny of all banking transactions and bank payments received
• Reconcile bank accounts with general ledger accounts
• Managing daily banking requirements, Resolving bank related matters
• Preparation of budgeted and actual payment schedules for suppliers
• Preparation of Depreciation Schedules including Fixed Asset Registers
• Receive and verify invoices and requisitions for goods and services
• Verify that transactions comply with financial policies and procedures
• Managing Supplier payments, Data entry of invoices for payment, attending supplier meetings, negotiating for better prices
• Preparing and recording of Assets, Liabilities, Revenue, and Expenses Entries by compiling and analyzing account information
• Supporting the month-end and year-end close process
• Reconciling and monitoring petty cash expenses
• Preparation of budgets including sales, payroll, op-ex and cap-ex
Experience as Tax Officer
Engineering kinetics pvt ltd (EKL)
01 October 2013
31 August 2014
• Provided compliance & advisory services covering income tax and sales tax and managed the departmental works
• Preparation and submission of Tax Returns including Sales Tax and Income Tax Returns of the entity
• Preparation and attending the appeals before commissioner and applet tribunal
• Efficiently managed the tax audit process initiated by the tax authorities
• Preparation of filing of returns and statements with the tax authorities and handled legal correspondence with authorities
• Attending the notices received from tax authorities
• Assisting in obtaining the tax exemptions and tax refunds.
• Preparation and submission of tax advice & opinion on domestic and international matters.
• Prepare accrued/prepaid expense & other schedules
• Analysis of ledger accounts for variances.
• Check inter-company balances & Head office reconciliation.
• Perform variety of accounting functions including examination, analysis, maintenance, reconciliation and verification of financial records under direct supervision.
Experience as Budgeting and Taxation Assistant
Total Parco Pakistan Limited, Pakistan
01 July 2012
30 September 2013
• Preparation of Sales Tax returns (input and output) on monthly basis
• Successfully finished sales tax audit of the entity
• Collection and submission of invoices for Sales Tax Return
• Computation of sales tax liabilities and submission of related amounts to ta authorities
• Computation of Deferred Tax Assets and Liabilities for Income Tax
• Computation of quarterly Income Tax Liability based on projected sales of the company
• Consolidated Budgets on Excel including Sales Budget, Payroll Budgets, Cap-ex Budgets, Op-ex Budgets, Depreciation Budgets, long term plans and working capital management schedules
• Preparing aging of Receivables and Payables
• Preparing the Variance Analysis report and presenting it to management along with recommendation for areas of improvement and potential problems
• Forecast, ratio analysis reports and Financial Review Reports
• Economic Summary form Economic Survey of Pakistan
• Preparation of oil pricing reports for internal and external users
• Inventory gain/loss reports
• Preparation of Furnace oil reports ( twice every month)
• Market share of OMC’s Report and Graphical Analysis at each quarter
• Preparation of Dash Board for CEO Pakistan
• Preparation of Projected Financial Statements
Experience as Centre Accountant
01 May 2011
29 February 2012
• Participate in preparation Accounts.
• Purchase verification & payment process.
• Monitoring book keeping, daily entry into books of accounts, posting in ledgers.
• Scrutiny of all banking transactions, bank payments received and completely reconciled bank accounts with the general ledger accounts.
• Analyzed the reconciled expenditure and revenue accounts, including sales, salaries, and utilities expense reports.
• Preparation of payable and receivable accounts.
• Handling Payroll.
• Assist and support audit team in evaluating and assessing the accounting systems.
• Preparing forecasted financial statement.
• Preparing Cash Budgets for decision making purpose.
• Prepare and Present Management Reports.
• Research and Analyze Financial Statements and Audit Related Issues.
• Recommend financial actions by analyzing payable reports
• Documentation & Safekeeping of the Financial Record.
Experience as CSR
01 February 2011
31 May 2011
3 Months Internship Experience in PTCL as Data Analyst
Matric 15 August 2001
With SceienceIntermediate 09 July 2005
FSC with Pre EngineeringBachelor 06 June 2007
BA with Specialization in JournalismMaster 19 November 2019
Associate Cost and Management Accountant A-6986Master 31 August 2020
Chartered Institute of Management Accountants-CIMA UK (Finalist)