Farah Asalia
CMA Issued By Certified Management Accountant: CMA® Authorized By IMA | Institute Of Management Accountants | Tax Expert | VAT Compliance Diploma | Financial Recourses - Accounting Expert
Abu Dhabi
Summary
Tax –Financial – Accounting Expert Recognized by executive staff as a dependable leader with exceptional problem-solving skills, expertise in maximizing resources and the ability to motivate and encourage others. Long experience with governmental sector. Experience with International Organization Knowledge of employee development techniques and processes. Knowledge of tax auditing. Corporate Finance Cost Management Decision Analysis External Financial Reporting Decisions Financial Statement Analysis Internal Controls Investment Decisions Performance Management Planning Budgeting And Forecasting Professional Ethics Risk Management Technology And Analytics Tax – VAT – Excise – Corporate Tax Transfer Pricing Tax Return Revenue Forecasting Strategic & Business Plan Tax Administration Diagnostic assessment tool – International Monetary Fund Accelerating Designing the transformational project
Overview
19
19
years of professional experience
1
1
year of post-secondary education
2
2
Certifications
2
2
Languages
Work History
Financial Resources Specialist
Federal Tax Authority
Abu Dhabi
12.2017 - Current
- I had the honor to join the authority at the establishment stage to be part of the foundation team for the Tax Administration in United Arab Emirates
- It is a great journey full of challenges and successes on all legislative, technical and financial levels
- As part of the founders of the financial management in the authority, I had the honor to register the authority in the tax system to obtain a tax number TRN and manage the submission of the quarterly tax return to the Federal Tax Authority
- We have developed policies and procedures in accordance with the policies and procedures of the federal government, in addition to the technical requirements of the interim tax system (e-Services) , the budget, the authority’s bank accounts, payment gateways ..And others, in close daily cooperation with the Ministry of Finance, To be responsible than for Revenue Management in the state (VAT Value Added Tax –Excise Tax- Tax Residency Certificate TRC – Economic Substance Regulation ESR – Digital Tax Stamp DTS …) Part of Revenue Distribution team, In addition to Revenue Forecasts as a member of Revenue Forecast committee , Internal and External Audit requirements and the State Audit Bureau, reports of Top management and the board of directors
- Managing the projects related to the transfer of the tax Residency certificate service and commercial activities –Economic Substance Regulation activities, from the Ministry of Finance to the Federal Tax Authority
- Leading the project of integrated tax system (Emirates Tax) regarding Revenue Management Model,from financial perspictive arrange data migration , integrations with the related banks, payment gateways, external parties …In order to setup the automated Revenue Management Model
- Leading the project to replace e-Dirham payment gateway from a technical point of view related to financial management with Maganati – FAB payment gateway
- At the strategic level I worked with the team to coordinate with international organizations such as the International Monetary Fund(IMA) on Tax Administration Diagnostic assessment tool (TADAT)
- And the Organization for Economic Cooperation and Development (OECD) to meet their requirements
- Working on the criteria and indicators for the Sheikh Mohammed bin Rashid Government Excellence Award
- Work has also been started on corporate tax project with the authority’s team in order to actually launch corporate tax in 2023.
Finance /Audit Manager
Delta Medical Est. for Al Manara Pharmacy
Abu Dhabi
01.2015 - 10.2017
- Communicate the approved strategic financial direction to the SBU’s and accomplishes the approved objectives
- Effectively lead and assess financial aspects of merger / acquisition assignments
- Develop standard report formats
- Lead and coordinate the preparation of financial statements, financial reports, special analysis and information reports
- Develop and maintain Audit system
- Develop and maintain a documented system of the company strategies, accounting policies and procedures
- Oversee the operations of the treasury department, including the design of an organizational structure adequate for achieving the department's goals and objectives
- Forecast sales, cash flow positions, related borrowing needs, and available funds for investment
- Manage the preparation of the company's budget
- Direct reporting to the Director Report on variances from the established budget, and the reasons for those variances
- Engage in ongoing cost reduction analyses in all areas of the company
- Review the performance of competitors and report on key issues to management
- Participate in target costing activities to create products that meeting predetermined price goals
- Assist in the determination of product pricing in relation to features offered and competitor pricing
- Create additional analyses and reports as requested by management
- Involved in managing the lease agreements
Chief Accountant
Bosra Al Cham Cont
01.2011 - 09.2015
- Direct corporate financial management team
- Conduct the operational due diligence for the companies
- Develop valuable business relationships with key clients/constituents
- Reduce raw materials holding by gearing up marketing, plant and logistics activities to achieve just in time inventories, in an international business setting where all raw materials are imported from different geographic locations
- Achieve 10% reduction in company overheads, by negotiating prices of various services and supplies
- Reorganize accounting department, ensure standards of performance and qualification for financial personnel, make recommendations concerning business policy, resource allocation, and strategic planning activities to improve bottom-line financial performance, and implement control and reporting systems to adequately monitor and provide financial insight into business operations
- Assist the top management in formulating financial policies and control procedures, financial decision making, business planning and feasibility studies
- Standardize procedures and recorded step-by-step tasks for future years, reversing a chaotic consolidation process to one of accuracy and quality
- Develop a viable financial and operational strategic plan and manage activities of corporate legal counsel, accountants, insurance brokers, banks, flooring companies, and employee benefits administrators
- Revamp system of internal controls to ensure effective checks and balances and protect company assets
- Coordinate process improvements, staff development, and policy implementation to increase ownership and enhance employee competence for cross functional responsibilities
- Oversee internal reorganization of accounting and related departments to facilitate the change
- Prepare financial analysis including cash flow, income statements, and balance sheets
- Assume full responsibility for all core financial processes, including annual planning and forecasting, budgeting, cash management, treasury, internal audit, banking and long-range corporate and personal portfolio investment.
Chief Accountant
Green Engineering System &Elard
01.2008 - 01.2011
- Abu Dhabi, the UAE
- Assisted with preparation of the budget and implemented financial policies and procedures
- Established and maintained cash controls and reconciled the general ledger
- Monitored cash reserves and investments and prepared bank statements
- Reviewed internal controls, reporting systems, overall performance of finance department
- Issued cheques for all accounts due, ensured security for all credit cards and verified charges
- Ensured transactions are properly recorded into the computerized accounting system
- Prepared monthly financial statements, quarterly reports and reports on variances
- Carried out review of banking, insurance and various local services for adequacy and cost effectiveness
- Administered employee files and records in order to ensure accurate payment of benefits and allowances
- Advised management about measures to improve business performance / reduce costs
- Provided guidance with regard to protection of assets/improving insurance coverage/reduction in cost of funds/improving quality and timing of management reports/training needs of people etc
- Monitored the financial system in order to ensure that the company's finances are maintained in an accurate and timely manner.
Chief Accountant
National International Holding Co
01.2006 - 01.2007
- Prepared, examined and analyzed accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to financial reporting and procedural standards
- Updated and reconciled the company’s records of cash, assets inventories, receivable and payables
- Interacted and co-operated with operational management to achieve the company’s target
- Prepared monthly and annual financial reports, budgeted reports & cash flow projection and submit it to the management in appropriate time
- Reviewed the costing for the new purchases of stock and assets
- Inspected and reviewed the financial terms of new contracts
- Monitored the liquidity and managed the working capital also report to the senior management regarding the liquidity and cash flow position
- Followed for collecting company’s debts and regular inspection to the system and manual receipt voucher and allocations
- Monitored and controlled the company assets and over heads expenses to cut the unnecessary costs.
Junior Accountant
Falcon Electro Mechanical, Abu Dhabi
01.2005 - 01.2006
Junior accountant
Syriatel Co
01.2003 - 01.2005
Education
Certified Management Accountant -
Institute of Management Accountants
USA 06.2021 - 08.2022
Issued by Certified Management Accountant: CMA Authorized by IMA - undefined
Management Accountants
Bachelors - Economics (Accounting
VAT Compliance Diploma –UAE Certificate - undefined
Damascus University
Issued by Association Taxation Technicians - UK - undefined
Issued by International Monetary Fund – IMF - undefined
Issued by Organization for Economic Co-operation and Development - OECD - undefined
Skills
COMPUTER SKILLSAccounting softwaresMS Office
Certification
• Revenue Forecasting & Analysis Certificate Issued by International Monetary Fund – IMF
Timeline
• Basic Concept of Transfer Pricing Certificate Issued by Organization for Economic Co-operation and Development - OECD
09-2022
• Revenue Forecasting & Analysis Certificate Issued by International Monetary Fund – IMF
11-2021
Certified Management Accountant -
Institute of Management Accountants
06.2021 - 08.2022
Financial Resources Specialist
Federal Tax Authority
12.2017 - Current
Finance /Audit Manager
Delta Medical Est. for Al Manara Pharmacy
01.2015 - 10.2017
Chief Accountant
Bosra Al Cham Cont
01.2011 - 09.2015
Chief Accountant
Green Engineering System &Elard
01.2008 - 01.2011
Chief Accountant
National International Holding Co
01.2006 - 01.2007
Junior Accountant
Falcon Electro Mechanical, Abu Dhabi
01.2005 - 01.2006
Junior accountant
Syriatel Co
01.2003 - 01.2005
Issued by Certified Management Accountant: CMA Authorized by IMA - undefined
Management Accountants
Bachelors - Economics (Accounting
VAT Compliance Diploma –UAE Certificate - undefined
Damascus University