Mahesh ( FCA) Lamahewa

• Cleaning of books- audit readiness & review of internal controls and recommending best practices.
• Help secure accounting software - designing chart of accounts , implementation and training.
• Special projects. e.g. financial forecast and projections
• Advisory on accounting and financial related matters & helping clients to automate and in simplifying processors.
• Support in writing / designing of policies and accounting playbooks.
• VAT registration support.
• Analyzed problematic areas to provide recommendations and solutions
• Improved performance, hiring practices and management systems to facilitate success of client's organization.

• Oversaw the monthly closing of books of 20 legal entities including revenue recognition under ASC 606 & IFRS 15. Accounting for prepayments ,amortization, accruals , management salaries, overhead allocation and preparation of draft financial statement and balance sheet schedules for external reporting purpose. ( Bankers , Auditors and pension fund )
• Managed high-value cash sweep accounting between related entities.

Key Achievements & Contributions:

• Notable productivity improvement through standardization measures - reduced monthly close time by 3 days.
• Coached the team to automate & improve productivity - prepayments, accruals, bank rec & BS schedules.
• Contributed to develop and implement group “Accounting Team Playbook”
• Automated reconciliation of 200 inter-company balances that significantly saved time of 4 Accountants.
• Migrated over 20 group entities from Intacct to NetSuite ERP, also integrated over 10 newly acquired companies to central accounting system.
• Successfully closed, 3 statutory group audits with big4 Auditors -US and UK territories, along with Tax returns working with Consultants in different geographical locations.
• Collaborated with consultants - US, Europe, and Asia to complete 3 group tax audits & filing.

• Influenced business decisions with effective verbal and written communication, data-driven analysis and modelling, and presentation of options and alternatives to minimize tax obligation.
• Oversaw all accounting, credit control & finance, restructured and created JD's & KPI's to empower team of 6 Accountants.
• Provided pre-opening support for Restaurant business, from planning stage, forecast, evaluation & managing budgeted CAPEX, designing chart of accounts to software deployment. Menu costing and prizing in conjunction with the head Chef.

Key Achievements & Contributions:

• Implemented Microsoft Dynamic ERP
• Revalidated current credit management policy and implemented changes to mitigate credit risks.
• Renegotiated banking arrangements with favorable terms.
• WPS setup, menu costing/ pricing, daily sales tracking and automation.

• Empowered a team of 30 - finance, credit control, procurement & stores to deliver expected results.
• Played active role in Oracle implementation “AS IS” study processes
• Reviewed and prepared financial reporting pack in meeting with Group / Corporate requirements.
• Business partnering with HoD's - completed commercial evaluation of projects - in securing recurrent high worth Business (achieved 8% growth in print line) contracts/ cross-selling.
• Ran monthly business review meetings with business unit heads to discuss achievement /underachievement and to re-forecast.
• Reduced bad debts provisioning to 5% from 10% through continuous follow up with credit control manager and team. Recovered long outstanding probable bad debts by offering cash discount.
• Scrapped a large quantity of stock of newsprint through tenders

Key Achievements & Contributions:

• Implemented standardization of balance sheet schedules to to identify challenges and speedup closing time.
• Actioned to close high and medium risk open audit items and facilitated completion of Government audit.
• Reviewed 25+ group policies and procedures to align with business unit deliverables and objectives, provided recommendations to suite Khaleej Times business operations.
• Fostered strong Stakeholder relationships that led to sales growth through proposed incentive scheme for sales staff .
• Partnered with technical and procurement department to source newsprint from China which brought immediate cost savings of 3%-5%.

• Partnered with the GM Finance to develop MIS & KPI pack for 18 profit centers, took ownership for monthly reporting including dashboard presentation.
• Played active role in full cycle budget process, from strategy sessions, collating, designing, debate and seeking board approvals.
• First point of contact for all company insurance with improved cover, including cover for loss of profits.

Key Achievements & Contributions:

• Spearheaded monthly payroll reviews and oversaw all approvals online banking. ( SmartBusiness)
• Selected to review all contracts for special projects - ensuring commercial viability, meeting key suppliers and negotiating better terms of trade, including annual volume discounts where relevant.
• As part of the M&A team was responsible to manage and report historical and forecast financial to private equity firm, was a key steering committee member.

• Was responsible for the review and Consolidation of Real Estate, Construction, Travel & Hospitality portfolio.
• Reviewed internal controls and procedures of group companies and recommended changes inline with business requirements and to mitigate risks to group CFO.
• Created organizational structures to improve accounting and finance functions.

Key Achievements & Contributions:

• Helped secured project finance to - tune of USD 200 Million, for Northern Emirates project, when project finance was severely restricted.
• Implemented uniformity in presentation of financials- covering various business units to provide summarized consolidate financials to the board.
• Completed group audit with big 4 - unqualified/ clean report, covering five industry segments- close to 15 legal entities.
• Managed USD 375 million investment budget in a hotel apartment in the heart of Dubai, worked with CFO to acquire capital assets & the selection of various suppliers/service providers.

• Established corporate line of credit and effectively managed cash flows during recession hit period.
• Act as a joint signatory for cheque payments.
• Assisted with recruiting, interviewing and hiring new department employees.
• Was involved in overseeing IT, HR and Admin Departments of company, other than core accounting and finance.
• Management reporting packs and new lines of business support ( digital media)
• Dealing with various stakeholders including government agencies and affiliate.

Key Achievements & Contributions:

• Reduced DSO from 66 days to 43 days and bad debts from 12% to 2.5%
• Executed cost reduction measures in 2009 which brought about 20% reduction in overheads.
• Diligently worked with experts to annul unfair Tax Assessment raised for US $ 280,000/- (which lasted over 3.5 years)
• Minimized corporate tax liability through effective tax planning .
• Collected tax refund from Department of Inland Revenue amounting to US $ 75,000 in 2008 Supported CEO with due diligence process to maximize selling price /goodwill for stake in business.