CA RAKHESH S
Chartered Accountant
Abu Dhabi,UAE
Summary
Dedicated and driven Chartered Accountant with a proven track record in General Accounting, Audit and Assurance, Financial Reporting & Taxation. Proven Expertise in navigating complex regulatory environments specific to the United Arab Emirates. Demonstrates a passion for embracing challenges and driving transformation initiatives. Proficient in managing Tax matters, including Corporate Tax, UAE Value Added Tax, Bahrain VAT, and Tax Deducted at Source (another form of Withholding Tax in KSA). Possesses advanced skills in Excel, Word, PPT presentations, and other MS Office applications essential for task execution. Recognized for excellent communication and teamwork abilities.
Overview
10
10
years of professional experience
2
2
Years of UAE Experience
2
2
Certifications
Work History
Senior Accountant
SIBCA Electronics & Equipment LLC
Abu Dhabi , United Arab Emirates
2023.07 - Current
- Prepared Consolidated Financial Statements by integrating the Financial Statements of 5 UAE Units and 1 Bahrain Unit, collectively generating a turnover of around 1 Billion.
- Generated periodic Divisional Financial Reports to evaluate divisional performance throughout each period.
- Monitored monthly project-specific invoice status and conducted cash flow analysis to enhance project management efficiency.
- Led GL Closures as part of the month-end process, ensuring strict adherence to IFRS-15 Revenue Recognition, IFRS-9 Provision for Doubtful Debt, and IFRS-16 Leases standards.
- Developed monthly, quarterly, and yearly divisional performance review reports, facilitating the identification of areas for improvement in invoicing and collection processes.
- Managed Accruals and prepaid accounts & monthly journal posting.
- Managed the complete process of ICV (In-Country Value) audit for Abu Dhabi.
- Compiled unit-wise budgets and conducted periodic variance analysis for Revenue, Profitability, and Cashflow.
- Executed monthly General Ledger closures for Accounts Receivable, Accounts Payable, and Fixed Assets. Prepared monthly Management Information System (MIS) Reports for management meetings. Set and communicated collection targets for upcoming periods.
- Spearheaded the audit process for all 8 units (5 UAE Units, 1 Bahrain Unit, 1 Qatar Unit & 1 KSA Unit) companies within the group by external auditors, ensuring timely completion and issuance of final audit reports within the first quarter after the reporting period.
- Finalized VAT schedules and filed monthly VAT Returns, ensuring compliance with tax regulations.
- Managed Bahrain Units' VAT, Accounts Finalization, and facilitated yearly audits, ensuring accurate financial reporting and compliance.
- Handled Saudi Units' VAT and withholding tax, and coordinated yearly external audits, ensuring adherence to regulatory standards.
- Collaborated with ERP teams to integrate new reports into the Oracle System. Actively engaged in the brainstorming process for logic derivation, report format, and other relevant considerations.
- Served as the representative of the finance team in the Purchase Request approval process by validating GL Codes.
- Active participation in decision making with respect to Corporate Tax Implementation in UAE Units & other entities owned by Chairman.
- Managed and maintained the Company's Chart of Accounts.
Project accountant
Royal Group
Abu Dhabi
2022.04 - 2023.07
- Preparation of IFRS schedules for recognition of revenue derived from projects, adhering to guidelines outlined in IFRS-15. Additionally, formulation of quarterly provisions for doubtful debts in accordance with principles stipulated in IFRS-9
- Executed month-end General Ledger closures
- Managed project milestones through maintaining trackers, ensuring
timely achievement and delivery of project milestones, and facilitating accurate project invoicing - Compiled comprehensive Management Information System (MIS)
reports, developed project budgets, and conducted thorough variance analyses for managed projects - Ensured positive cash flow from projects by proactively communicating with project managers to address any variances
- Proficiently managed Letters of Credit (LC), encompassing the entire
lifecycle from initiating LC applications, processing invoices, handling
document arrival notices & making LC payments in the system and
validating Post-Dated Cheques (PDC) entries during month-end
processes. - Facilitated processing of Letter of Guarantees, Performance Bonds, and Advance Guarantees, including management of amendments.
Successfully handled associated bank charges for these financial
instruments - Vigilantly monitored issued Guarantees, ensuring their timely
cancellation to prevent incurring additional charges - Prepared audit schedules, including detailed analysis of Work in
Progress (DWIP), cost segregation, and comprehensive reports on
project cost details for annual external audits - Generated month-end schedules for managed projects, encompassing Advance to Suppliers, DWIP analysis, Advance from Clients, Project Retention details, Prepayment schedules, and Accrued Expenses.
- Processing Payroll accounting, verifying payroll processing sheets
- Distributed risk assessment forms to Project and Operations teams,
facilitating comprehensive education on contractual risk elements with clients
Finance officer
Reizend Private Limited
Trivandrum , India
2018.06 - 2022.02
- Extensive experience in company valuation using various techniques such as Discounted Cash Flow Method and EBITDA multiplier. Lead share issue procedures over 150 million.
- With expertise in accounting, ensured compliance with Accounts Standards and handled ITR filing, Advance Tax & TDS compliance, and liaising with Income Tax, GST & Ministry of corporate for various matters including Refunds & compliance.
- Preparing GL schedules and reconciliations on monthly basis, monthly book closing, reviewing recurring provisions, accrual of expenses, and amortization.
- Managed Company yearly & short-term budgets, cashflow projections, variance Analysis and presented MIS & finance reports in Company Board meetings & investor pitches.
- Monitoring and reconciling inter-company accounts, ensuring accuracy and completeness.
- Worked closely with auditors, ensured timely completion of Statutory Audits under the Companies Act & Tax Audit under Income Tax.
- Played vital role in development of finance & MIS modules in software owned by the Company.
- Ensured Company & LLP statutory compliance, including MCA compliance on share issue procedures, filing annual returns, Auditors & directors' appointment, and Company registered office change.
Audit Assistant
Suri&Co CharteredAccountants
Trivandrum , India
2014.02 - 2018.03
- Statutory Audit of Companies - Audit Planning & Execution, Guiding and Mentoring team members, Work prioritization, Communicate extensively within firm as wells as client stakeholders . Expert to quickly understand nuances of audit work. Report drafting & reviewing ability. Establish and maintain effective working relationships during course of work
- Central Statutory Audit of Banks -responsible for consolidation of accounts of branches including Foreign Branches, head office, its divisions and circles.
- Accounts Finalization of large organizations with turnover exceeding 1 billion including GOVT undertakings, Tax Audit, Income Tax Return Filing, other income tax related works. Internal Audit of GOVT undertakings
Education
Chartered Accountant - Finance & Taxation
Institute of Chartered Accountants of India
New Delhi 2014.02 - 2018.11
Bachelor of Commerce - Taxation
Kerala University
Trivandrum, Kerala 2010.06 - 2013.03
Skills
- Accounting Standard (IFRS, Ind AS)
- Consolidation of Financial Statements
- Oracle ERP
- UAE Corporate Tax
- UAE VAT
- Financial Statements
- General Ledger
- Audit Planning
- Taxation
- External Audit
- Reporting
- MS Office
- Valuation
- Analytical skill
- Account Reconciliation
PERSONAL COMPETENCIES
- Analytical Skills
- Leadership
- Inquisitive
- Innovative
Certification
- Chartered Accountant from ICAI
- Microsoft Excel Certification
Languages
English
Fluent
Hindi
Intermediate
Malayalam
Native
Tamil
Intermediate
REFERENCE
- Muhammed Farooq Butt, Finance Manager, RTS (Royal Group)
Contact: +971 508979385 - Noble James, Director, Reizend Private Limited
Contact: +91 9846449296
Timeline
Senior Accountant
SIBCA Electronics & Equipment LLC
2023.07 - Current
Project accountant
Royal Group
2022.04 - 2023.07
Finance officer
Reizend Private Limited
2018.06 - 2022.02
Chartered Accountant - Finance & Taxation
Institute of Chartered Accountants of India
2014.02 - 2018.11
Audit Assistant
Suri&Co CharteredAccountants
2014.02 - 2018.03
Bachelor of Commerce - Taxation
Kerala University
2010.06 - 2013.03
- Chartered Accountant from ICAI
- Microsoft Excel Certification
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