Experience as Chief Accountant

• Employer

  Muhammad Ramzan

• From

  20 March 2015

• To

  30 November 2019

• Detail

  • Finalization of monthly Management Accounts/MIS Reporting Package that includes Budgeted vs Actual P&L, B/Sheet, Cash Flow Statement, Forecasted P&L for the rest of the year, projected cash flows, Departmental Headcount Reviews and comments on monthly performance etc.
  • Preparation of annual financial statements as per International Financial Reporting Standards (IAS and IFRS).
  • Liaisons with external auditors, responding their queries and resolving the issues to get the company accounts audited within the group deadlines.
  • To improve the quality of financials by monthly reconciling customers, suppliers, banks, inter companies and other control accounts.
  • Preparing, analyzing and reporting of necessary stock records to track the inward/outward movement of goods; conducting stock verification/ reconciliation at every month/quarter end.
  • Workout the landed cost of imported materials.
  • Preparation of Annual Master Budget of the company and present it to the management for approval.
  • Checking of monthly payroll and its related events to ensure the employees are paid in an accurate manner as well as booking of labor/staff cost to their proper cost centers suitable for the future analysis.
  • VAT records and Invoices
  
  Project Specific Role
  
  Bid Approvals:
  Representing Finance Dept. in Bid Pre-Qualification meetings. Analyzing expected Cash Flows and project Profitability before the bid submission stage. Providing inputs on margins, vendor requirements, payments and commercial terms at Bid approval meetings.
  
  Vendor and Bank Negotiations:
  
  Understanding Customer Commercial and Payment terms in Contracts and PO, Negotiating Commercial and payment terms with Vendors to be in line with Customer terms, Responsible to collect and secure all securities and guarantee documents from vendors as per contracts, Responsible to arrange advance payment guarantees, performance bonds and letters of credit etc. Liaise with Bank to arrange Project financing as per drawn up Project Cash-flows.
  
  Projects Costing, Profitability and Cash Management:
  
  Liaise with Projects team to obtain Project Plan and Invoicing milestones, Co-ordinate with Procurement and Project Manager to ensure JIT delivery of Project deliveries to sites, Follow-up with Project Manager to ensure timely invoicing as per Project Plan, Work with the Project Manager to be aware of invoicing delays and plans to bring invoicing back on track, Track Actual Cost versus Planned Cost on the Project and ensure minimum variance from Planned Cost and highlighting (if any) the estimation and/or execution mistakes in the projects, Track actual Project Cash-flows versus Planned Cash-flows and take necessary measures to manage cash-flow as per approved financing terms.
  
  Revenue Management:
  
  Responsible to co-ordinate with Operations Manager and Procurement to provide rolling monthly revenue and GP forecasts, Monitoring projects completion stages and liaison with commercial deptt. For updating the cost-to-complete of the running projects to ensure the correct POC calculation as a basis for revenue recognition.
  
  Payment Applications Verification:
  
  Checking the completeness of monthly project payment applications submitted to the customers by ensuring it includes all the approved work of subcontractors as well as the/high value items delivered/installed on the sites. Monitoring the deliveries/materials on site as well as the installation progress to ensure the correct amount of invoicing as per installation, material on site/off site contracted terms.
  
  Projects Completion and Variance Reporting:
  Responsible to keep the bonds and guarantees updated till the completion of execution phase of the project and/or towards the completion of Defects Liability Period. Once completed, collection of guarantees back from the customer and submission of Retention Bond as per the agreement. Reporting includes actual vs budgeted cost of completion of the projects including variations (approved/unapproved) and updating the overhead rate for future projects to take into account.