Nagesh Babu Thota
Dubai
Summary
Business-minded Finance Manager promoting more than 8 years of expertise overseeing transactions and reconciling monthly financial reports. Highly collaborative individual with track record of effectively training and coaching staff members. Offering confidence, team contribution and decision making skills. Proactive Team Leader & Team Member with strong background in financial analysis, budgeting and forecasting. Develops and implements financial plans and delivers strategic financial advice.
Overview
9
9
years of professional experience
Work History
MANAGER -Finance
STERLING OIL EXPLORATION & ENERGY PRODUCTION Co.LTD
2022.10 - 2023.08
- Accounts
- A Major Crude oil and Gas Exploration and Production Company in Lagos-Nigeria For Drilling Support/Logistic Operational Accounting for overall group companies
- Handling of team 8 Nationals Members review of all transactions and allocation of daily works as per target
- Scrutiny and validate the multi-currency (USD, Euro, INR) payments documents validation and review for process as per SOP
- Review validates of PDC/ ABG/ LC Documents as per Po terms and process the same with Treasury team
- Verification of Purchase Bills, Maintenance bills, Recurring Expenses with tally entry along with Statutory Portion
- VAT, WHT Etc
- Processing of Site Expenses / Employee Reimbursements as per Approved Matrix structure
- Daily Bank Reconciliation and Posting of Entries
- Processing of Monthly Salaries for Nationals / Union Deductions/ Statutory payments/ DPR Licenses renewals/ Vendor payments as per schedule without deviations
- Ensure to Obtain the payment approvals from Management as per due date schedule and payment process for Local and Other currencies
- Inventory Management:
- Verification of Inventory Report /MRR copies and Record the Inventory stock code wise in Books without deviations / Resolve the Inward & outward Issues immediately as per Stock statements
- Reconciliation of Stock GL’s clear the control accounts and review the PJV’s for the stock related impact
- Distribute the mails to User department and C&P team to clear Yet to be Vouched GL’s
- Weekly Stock Reconciliation of Inward & Outward as per Consumption at site and match the same with Tally books any deviation resolves the issue on priority
- Working for Landing cost on Import Material/stocks to derive the consumption cost
- Record Month end tally entries Well wise Material Consumption as per outward stocks
- Weekly & Month Reports:
- Preparation of Monthly Budget VS Actual Reports and Reasons for the Variance
- Prepare Monthly G&A Cost -RIG/Well wise OPEX and CAPEX Statement for Management
- Prepare Weekly Reports (Cash Flow for USD/NAIRA), Bank payment report, TAT Report, Aging reports
- Preparation of Monthly Advance Report (Ageing)
- Preparation of Material Status Report against Advances outstanding -PO Number wise /Project wise
- Prepare Fixed Asset Register at Every Month end
- Prepare Monthly/Quarterly Budget Reports (Both usd & Naira) as per Requirements and projections
- Preparing Invoicing to Intercompany Drilling operations Well wise
- Analysis of Profit and Loss Account Monthly / Quarterly / Yearly ( YTD/PTD/QTD)
- Others ;
- Trained new and existing staff members in various financial procedures to prepare for job requirements.
- Processed invoices and contacted appropriate parties for timely payment receipt.
- Created organizational structures to improve accounting and finance functions.
- Managed regular finance tracking for numerous branch offices and headquarters expenses.
Financial Acct Advisory Analyst
Accenture Solutions Pvt Ltd, Interco
2016.04 - 2022.09
- Career Achievement
- Received Extra Miller award for the excellent contribution in completing yearend revenue recon in short span of time.
- Responsibilities
- Preparation of Balance sheet Notes to accounts, FP20(P&L) preparation and supporting backup for each account
- Analysis of compensation, each NIS line item of P&L A/c, Balance sheet, Preparing the summary report based on Analysis
- Handling associated/Intercompany transactions, periodical reconciliation of transaction, tracking of outstanding intercompany transaction/Invoices, zero rising overall Balance, Making recharges
- Passing standard and Ad hoc
- JV’s, AP accruals (after AP system close) and any other JV’s as and when required
- Preparing the Revenue Reconciliation and Revenue Transfer
- Ensuring Interco AR/AP accounts are analyzed and sharing detailed reports to business
- Highlighting areas of concerns and maintaining explanation for all Interco items >90 days.
- Liaise with BPO team and ensuring that, they are delivering requirements as per SLA.
- Month-end discrepancies are resolved and closed within the set timelines.
- Being the focal point to provide coding details for the Interco recharge invoices and processing the same with the support of BPO team.
- Preparing monthly Interco metrics and develop action plans based on metric outcome.
- Reducing the exceptions through root cause analysis and implementation of solutions.
- Monitoring and approving the Interco payments to upload it in Bank portal.
- Ensuring that Interco policies were applied for the overdue items on both IC AP & AR books.
- Preparing MRBR report and releasing the blocked invoices as per the Interco policy with the Business approval.
- Assisting BPO team to process Interco overdue invoices with PO/GL & PC/CC/WBS as per the IC policy.
- Co ordination with buyer for the GRN.
- Sharing the payment remittance details to counterparty.
- Reviewing & approving the Interco accruals as per Goods and services and approving the same via portal to ensure that the Interco balances were aligned with respective Interco partners.
- Being the Interco focal point for the migration of Non-SAP entity to SAP.
- Handling several SAP Transaction codes like MIRO, FB60/65, F-04, ME23N, FBL1N, FBL5N, FS10N, VF02
- VF03, XK03, FK03, MRBR, FB50, F-02, FBL3N, VA01, VF01, VF11, MR11 etc.
- Advised business process improvements based on performance metrics and detailed observations.
- Evaluated current processes to develop improvement plans.
Cost Audit trainee
Chandra Sekhar & Co
2014.07 - 2015.12
- Chandra Sekhar & Co
- Involved in handling Cost audit reports, Cost Compliance reports, CAS – 4 related to various public and private companies
- Responsibilities handled were:
- Checking whether TDS is as per the provisions of IT Act and E-Filing of Quarterly TDS Returns.
- Calculating Service tax liability and Half yearly return filing.
- Reconciliation of Books with Banks, Debtors and Creditors.
- Active participation in Concurrent and bank audits.
- Preparation of Working Capital loan proposals.
- Preparation of MIS Reports and Reporting.
- Preparation of Consolidated Financial Statements.
- Sound knowledge in Cost Audit records, rules and Financial management.
- Computation of Cost per unit of different products manufactured.
- Preparation of Reconciliation statements Cost accounting Vs Financial accounting.
- Preparation of Working Capital proposals.
- Preparation of necessary data for fixation of Selling price of products.
- Budget variance analysis with actual.
- Used Excel to create and manage budgets, balance sheets and other related financial statements.
- Developed understanding of company audit methodology, approach and tools while working under supervision of licensed auditors.
- Provided journal entries and performed accounting on accrual basis.
- Trained new employees on accounting principles and company procedures.
Education
CMA - Accounting And Finance
ICMA
Guntur08.2016
B. Com - Accounting And Finance
B Com
Tirupathi04.2012
Intermediate - Accounting And Finance
Board of Intermediate Education
Kadapa03.2009
SSC -
Board of Secondary Education
Kadapa03.2007
Skills
- Summary of Skills and Experience
- Energetic Graduate with 6 years of experience in planning, process and quality in Finance Industry.
- Energetic, self-motivated individual with hands on experience on accounting entries with SAP, Tally ERP, Oracle.
- And business improvements with strong communication.
- Computer Knowledge
- Operating System: Windows XP, 7, & 8
- Application: MS Office & SAP, Tally ERP. Oracle
- AREA OF INTEREST
- Finance & Accounting
- Strengths and Positive Traits
- People skills -Ability to build rapport with people instantaneously and maintaining it.
- In depth knowledge of Cost Accounting and Cost Audit Rules,2014
- Having the Great Positive Attitude and willing to learn quickly.
- Quick learning through Grasping & Observation.
- Self – Confidence and Motivation
- Cash Flow and Reconciliation
- Workflow Coordination
- Income Statements
- Departmental Oversight
- Account and Ledger Reconciliations
- Financial Revenue
Languages
Telugu
Bilingual or Proficient (C2)
English
Upper intermediate (B2)
Hindi
Upper intermediate (B2)
Timeline
MANAGER -Finance
STERLING OIL EXPLORATION & ENERGY PRODUCTION Co.LTD
2022.10 - 2023.08
Financial Acct Advisory Analyst
Accenture Solutions Pvt Ltd, Interco
2016.04 - 2022.09
Cost Audit trainee
Chandra Sekhar & Co
2014.07 - 2015.12
CMA - Accounting And Finance
ICMA
B. Com - Accounting And Finance
B Com
Intermediate - Accounting And Finance
Board of Intermediate Education
SSC -
Board of Secondary Education
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