MAGDY HANBAK
Senior Accountant
Dubai
Summary
Experienced Senior Accountant successful at cultivating effective working relationships at all levels while driving improvements to budget administration, expense tracking and forecasting of future financial needs. Proven track record of performing work ethically while maintaining integrity of all financial data.
Overview
10
10
years of professional experience
4
4
years of post-secondary education
3
3
Certifications
2
2
Languages
Work History
Senior Accountant
Paris Group - JW Turner Contracting LLC
Dubai
09.2022 - Current
- Project cost control and tracking – ensuring proper allocation of direct and indirect costs.
- Monitoring work-in-progress (WIP) and recognizing revenue as per IFRS 15.
- Subcontractor billing verification and payment approvals.
- Budget vs. actual cost analysis for ongoing construction projects.
- Retention and advance payment tracking, preparation of project profitability reports.
- General ledger maintenance and reviewing chart of accounts.
- Prepare and review financial statements (P&L, balance sheet, cash flow).
- Accounts payable and receivable oversight, ensuring timely invoicing and collections.
- Bank reconciliations and cash flow management.
- Intercompany transactions and reconciliations (if part of a group).
- Fixed asset management – tracking project equipment, depreciation, and disposals.
Senior Accountant
Sankari Properties Group
Dubai
02.2021 - 09.2022
- Prepare and review financial statements (P&L, balance sheet, cash flow) and handle month/year-end closing, journal entries, and general ledger accuracy.
- Manage accounts payable/receivable, bank reconciliations, daily cash flow, and supervise junior accounting staff.
- Recognize revenue under IFRS 15 based on project completion or handover milestones.
- Track project costs including land, construction, and marketing, and monitor cash flow and funding needs.
- Manage off-plan sales, customer advances, progress billing, and post-handover collections.
- Administer escrow accounts and ensure compliance with RERA and DLD regulations.
- Perform customer account reconciliations and follow up on outstanding dues.
- Ensure VAT compliance, particularly in real estate-specific scenarios (residential vs. commercial).
- Coordinate with auditors, maintain documentation, and support annual and escrow audits.
- Prepare budgets, forecasts, MIS reports, and assist in project feasibility studies and financial modeling.
Senior Accountant
iLaw Group
Sharjah
02.2019 - 02.2021
- Examined account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures for the main group and 4 subsidiary Companies.
- Ensured compliance resulting in 15% error reduction by reviewing expense reports.
- Supported audit efficiency by providing timely documents, aiding 10% faster audit preparation.
- Enhanced financial understanding by preparing 10 comprehensive reports including income statements and budgets.
- Grew client profitability by 15% through effective cost management strategies and precise financial forecasting.
- Implemented tax filing systems, reducing client tax liabilities by AED 20% annually.
- Managed accounting processes for 4 companies with a combined revenue of AED 37 million.
- Reduced audit times by 30% by streamlining financial processes using advanced data analytics.
- Increased organization's tax compliance rate to 100% by introducing automated reporting tools and training staff.
Senior Tax Accountant
Al Dhaheri Capital Investments
Dubai
01.2017 - 01.2019
- Improved tax compliance processes, reducing costs by 15% annually through strategic tax planning and audit preparation.
- Streamlined tax filing systems, resulting in a 20% reduction in processing time and improving efficiency.
- Managed tax reporting for 250 individual and corporate clients, ensuring accurate and timely submissions.
- Handled tax documentation for clients with combined annual revenues of AED 50 million.
- Increased corporate tax savings by 25% by leveraging tax incentives and deductions.
- Enhanced the accuracy of financial reports by 30% by implementing rigorous review and audit procedures.
Senior Accountant
Integrated Resources Call Centers Services LLC
Dubai
01.2015 - 01.2017
- Reduced annual financial processing errors by 15%, resulting in savings of AED 200,000.
- Optimized tax filing procedures, resulting in an AED 50,000 reduction in tax liabilities.
- Managed five projects simultaneously with a combined budget of AED 8 million.
- Oversaw accounting operations for 10 divisions, with a total annual turnover of AED 50 million.
- Enhanced financial reporting accuracy by 20% by implementing new audit procedures.
- Streamlined payroll processing by 30% by implementing advanced ERP software.
Education
Bachelor Degree - Accounting
Faculty of Commerce English Section
Sohag University 05.2009 - 07.2013
Skills
Zoho Books
- Tally ERP
- Quick Books
- Microsoft Navision
- Excel
- Google Sheets
- Bank reconciliation
- Financial reporting
- Financial statement review
- General ledger accounting
- Payroll processing
- Audit support
- Accounts receivable management
- Generally accepted accounting principles
- Audit preparation
- Tax preparation
- Cash flow management
- Value added tax compliance
- Tax law expertise
- Internal controls implementation
- General ledger management
- ERP systems expertise
- GAAP proficiency
- Year-end closing
- Tax return filing
Certification
Certified Management Accountant, Studying CMA part 1 at The Information Technology Center ITC at Cairo University, 02/12, 06/12
Accomplishments
- Improved financial accuracy by managing over 100 real estate transactions yearly, ensuring precise records.
- Oversee accounting across 50 diverse real estate properties, including commercial and residential.
- Ensured compliance with tax law by filing property tax returns for 30 properties.
- Finalizing more than 102 Tenancy Contracts (negotiation renewal process and new proposals, receiving rental checks, deposits).
- Processed community charges payments for 373 properties, coordinating with developers.
- Handling 373 properties Ownership transfer process 'Gift, direct, Emirates Auctions.
Timeline
Senior Accountant
Paris Group - JW Turner Contracting LLC
09.2022 - Current
Senior Accountant
Sankari Properties Group
02.2021 - 09.2022
Senior Accountant
iLaw Group
02.2019 - 02.2021
Senior Tax Accountant
Al Dhaheri Capital Investments
01.2017 - 01.2019
Senior Accountant
Integrated Resources Call Centers Services LLC
01.2015 - 01.2017
Bachelor Degree - Accounting
Faculty of Commerce English Section
05.2009 - 07.2013
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