Moin Deshmukh

• Analyze and provide financial data; conduct the account processing and closing activities regarding inventory management, in accordance with legal accounting standards and policies, in order to optimally manage timely and correct payments from customers and to provide the management with the correct financial information about company funds for making policy decisions

Job Responsibilities / Specific Accountabilities:

Inventory Controlling

• Organize and perform inventory counts and follow up on potential inventory fluctuations to highlight areas of non-conformances
• Analyze inventory and reporting on financial implications to management to support informed decision making and support awareness of current status of operations
• Conduct the final validation of financial impact of all booked rebates, valorization of the inventory as per defined guidelines

Booking entries

• Manage monthly, quarterly and annual closings with regards to inventory and conduct reconciliation of the accounts as per defined standards and regulatory requirements
• Follow up and coordinates with Depots staff in all Areas to send monthly stock statements on target dates in order to prepare the monthly consolidated statement of Main Product on time
• Prepare on a monthly basis General Leger Reconciliation of purchases and related liability and accrued liability accounts
• Prepare on a monthly basis Journal Vouchers for Main Products in all Depots & Filling Stations for gain & loss, down-graded and transportation charges of Main Product from/to Depot, and vessels monthly charges and own use of main products
• Receive the cases of spillage and contamination of Main Products at Depots & Filling Stations and applying Company's policy regarding salary deduction, if any, and accounting action
• Check and confirm Debit Notes, verifying and Confirming Good Receiving Notes (GRNS) and Vendor Payment Advices (VPA) of Main Products purchases

Generic Accountabilities Supervision:

• Plan, supervise and coordinate all activities in the assigned area to meet functional objectives
• Train and develop the assigned staff on relevant skills to enable them to become proficient on the job and deliver the respective section objectives
• Investigate and highlight any significant variances to support effective performance and cost control
• Support process flow initiatives conducted by Supply Chain and ensure that accurate accounting and valuation of inventory is maintained

Pricing:

• Collect data from Market view App, update Main Product (Gasoline, Gas Oil) and Aviation (JET A1, JP8, KEROSENE) monthly prices for ADNOC Distribution and update in SAP material master

Performance Management

• Contribute to the achievement of the approved Performance Objectives for the Department / Section in line with the Company's Performance framework
• Innovation and Continuous Improvement
• Design and implement new tools and techniques to improve the quality and efficiency of operational processes
• Identify improvements in internal processes against best practices in pursuit of greater efficiency in line with ISO standards in order to define intelligent solutions for issues confronting the function

Reports:

• Provide inputs to prepare Section MIS and progress reports for Company Management
• Once books are closed and ML is run, do the Product reconciliation to ensure that COGS are posted correctly.
• Prepared monthly profit and loss, balance sheet and cash flow reports with exceptional accuracy.
• Prepared and distributed financial statements and reports, including variance reports, regulatory filings and related schedules.

Financial Accounting & Reporting:

• Maintains the books of accounts and ensure that the monthly accounts are closed & submitted on timely basis
• Monitor various key expenditure accounts for descriptive details and analysis and produces ad-hoc reports on various items of revenue/expenditure/capex etc
• Processing payments for feedstock suppliers in a timely manner to ensure that key suppliers receive payments in a timely manner ensuring no disruptions in the feedstock procurement activity of the company
• Co-ordinates with Group Financial Services (GFS) on specific transactions of the company under the purview of GFS
• Generating weekly and monthly invoices, debit memos, credit memos for all customers and arrange for further dispatch
• Monthly reconciliation and development of various GL Schedules on periodical basis
• Reviews the month end closing reports of Finance Shared Services of the company and prepares the monthly management reports for reporting to Segment Management and for Controller review
• Analyses the financials and operations of the company and presents the data and concern areas
• Monitor bank accounts, prepare monthly bank reconciliation for daily operating bank accounts and resolve reconciliation discrepancies
• Prepare adjusting journal entry to correct the appropriate general ledger accounts
• Managed supplier related queries, issues and review periodic supplier reconciliations

Audit:

• Supported the audit process while dealing with the various Auditor‘s such as the external and internal auditors to resolve the queries raised by such auditors on various financial aspects of the company

Compliance and control

• Highlight instances of non-conformities to control framework and potential control issues on day-to-day transactions for resolution
• Ensured compliance with financial covenants and service level agreements and ensuring that any contractual obligations arising thereon are met

Treasury Management

• Ensures development of routine operations and cash flow for the internal projects / company
• Managed short term cash flows / fund requirements including overseeing bank accounts to ensure ready availability of adequate funds without maintaining idle funds

Taxation

• Record the input and output VAT separately for identification purpose and maintain all records for future identification purpose

Regulatory Submittals

• Collate required information to be submitted to external agencies/ regulatory authorities in line with audited financial statements and other reliable resources.

Account preparation and closure:

• Performed full cycle of financial accounting, inclusive of accounts receivable, accounts payable and preparation of monthly payroll schedule of ~200 employees
• Monthly accounts adjustment and closing of books
• Assisted management of the month end process including responsibility for the production of branch P&L accounts, Production
• Cost and other reports
• Preparation of financial statements including cash flow statement, profit & loss and balance sheet and others yearly/quarterly/half year reports
• Preparation of details of liability for outstanding expense, depreciation and prepaid expenses for monthly financial statements
• Assist external auditors with preparing schedules, providing explanations of supporting materials and procedures, and preparing any other necessary data during annual audit
• Maintained monthly intercompany spreadsheets for billing purposes and consolidated financial preparation
• Budgeting and performance analysis:
• Prepared yearly budgets for RAK unit (prepared monthly budget variance and reasons for performance variation)
• Hands-on experience in financial planning, budgeting, forecasting and project cost analysis, fund management
• Prepared monthly management report which analyzed key trends in revenues, cost and expenditures
• Submitted monthly performance reports to parent company, banks and regulators
• Assisted financial controller with debt and equity raise for ongoing projects (detailed analysis on financial projections, capital planning and fund utilization)
• Exposure in identifying areas of strength & weakness in the financial function; managing systems effectively to improve efficiency, increase cost saving & productivity
• Perform financial forecasting, reporting and operation metrics tracking
• Analyses financial data and create financial models for decision support.

• Book-keeping of all the tasks and transactions of the company i.e., sales, purchases, expenses, inventory management, payroll and etc
• Managing suppliers' accounts by tracking their invoices, credit notes and payment records
• Preparing sales invoices and billing the invoices to customers on daily basis & follow up for payments
• Maintain records of all financial documents with appropriate supporting material; update records as necessary
• Monitor production and stores department to update production journals, GRN and GDN on daily basis
• Verify & reconcile the physical stock with the system stock sheet on monthly basis
• Statement reconciliation of bank accounts
• Process payroll and other employee benefits through bank