Nasooha Hameed

• Preparing Financial Statements (P&L, Balance Sheet, Cash Flow) in compliance with accounting standards.
• Finalizing of Financial Accounts as per IFRS for annual external audits
• Responsible in finalizing annual audits & CT audits
• Developed and managing annual budgets and monitoring performance against budget.
• Conducting variance analysis between actual results and budget/forecast monthly.
• Performing financial forecasting to support strategic planning and decision-making, by involving in monthly target setting for each store
• Managing day-to-day cash flow operations to ensure adequate liquidity and efficient working capital.
• Provided financial insights and reports to support management decisions
• Proactively raising alarms for decline in product margins to ensure monthly/ annual profitability
• Submission of quarterly VAT in FTA after reconciling internal records
• Monthly preparation & finalization of the payroll
• Submission of quarterly VAT in FTA after reconciling internal records
• Responsible for HO departments & all branches, Internal Audits & risk assessment on company’s systems, policies & procedures
• Responsible for all transaction approvals as the Head of Finance

• Responsible for the submission of VAT Returns/Sales Returns of the Group of Companies in the FTA portal/ ZATCA system, etc. for the following entities:
• Falcon Pack - Group
• All Other Branches - GCC (KSA (2)/Oman/Bahrain) & USA
• Chairman’s VAT Return & Heir’s of Chairman’s VAT Return
• Monthly reconciliation of the revenue & Import purchases (with the custom reports (RCM))
• Handling the VAT audits conducted by the FTA (Federal Tax Authority)
• Continuous monitoring of the system (SAP S/4Hana) entries posted for the Input VAT/ Output VAT, ensuring accuracy of the tax codes selected & verification of the Tax Invoices to ensure the compliance with FTA requirement.
• Monthly gathering of the Export Evidences & maintaining accurate documents liasion with the relevant departments as per the requirement of the FTA
• Submission of monthly Management Reports in the following areas to the Finance Manager & the Finance Director
• Sales Price Quantity Variance Report
• Inventory Reports

Was promoted as the Assistant Manager Finance in 2013 October (Was the Senior Executive Internal Audit: July 2012 - Sep 2013).

(NOLIMIT is the largest Fashion Retail Clothing Chain in Sri Lanka for 30 years having more than 22 outlets across the island & the Finance Division is centralized to manage all such outlets with 14 dynamic staff)

Main functions:

Handle full spectrum of Financial Accounting Role & responsible for day to day financial operations.

• Perform complete set of Accounts for submission of CEO & Directors (by ensuing all Accounts Payable/ Accounts Receivable, Payroll, Journal Entries, Bank Reconciliations, Depreciations entries are completed on time)
• Monitor expenditures, analyze revenues & determine budget variances & report the same to the management
• Periodic reports of all outlets' performances to Outlet Managers
• VAT Reconciliation, payment & quarterly VAT return submission in the RAMIS system
• Work consultatively with respective departments on cost reduction initiatives

All tasks done with tight deadlines.

Other functions:

• Oversaw departmental tasks, coached, trained, groomed, and evaluated staff periodically based on their JDs
• Liasion with other departments for process improvement & resolving issues
• Monitoring of the COA to ensure the accuracy of daily/monthly JEs

I joined BDO Partners in June, 2010. I was involved in various statutory audits of leading organizations in Sri Lanka basically of the BPO sector (Business Process Outsource), garment sector and local trading sector.

The tasks undertaken by me basically included;

• Gathering & evaluating audit evidence to ensure the compliance of the Company’s financial statements with the LKAS (Sri Lanka Accounting Standards).
• Assisting the senior in-charge to finalize the final accounts of the company.
• Meeting Secretaries of such audited companies to ensure the conformity with the Company’s Act No 7 of 2007.

Became a member of the Risk Advisory Services department in November 2010 and advanced to the position of ‘Senior’, improving my skills to a greater extent.

Oversaw responsibilities that encompassed:

• Initiating & executing internal audits of leading organizations in Sri Lanka covering diversified sectors such as manufacturing, brokering, travel, shipping & freight forwarding, real estate, distribution networks, services & other.
• Obtaining a comprehensive understanding of the operational & financial processes of the company, whilst trying to identify risk factors embedded in each of the processes performed.
• This was performed with a high degree of communication and leadership skills, personal relationship & with greater extent of professional caliber as most often process owners were CEOs (Chief Executive Officers), CFOs (Chief Financial Officers), Sector Heads and Directors.
• Preparation of risk matrices for each focus area by inculcating risk mitigation action plans in the form of a detailed audit report which is to be presented to the Board of Directors of such audited companies.
• Further documenting processes via flow charts using MS Visio, which is to be included in the same audit report.
• Joined Management Meetings and Audit Committee Meetings alongside the Audit Engagement Partner to present and discuss the final audit report.

I stepped in to the centralized finance department of the Brandix Group in May, 2009 as an Accounts Trainee, which is one of the largest apparel exporters in Sri Lanka.

Gained extensive experience at Brandix Group, developing skills in managing extreme work pressure and tight deadlines while fostering a culture of commitment, self-confidence, and teamwork.

Taxation (May 2009 – Sep 2009)

• Reconciled, prepared and filed final tax returns with the Department of Inland Revenue for VAT, NBT and WHT for four main clusters of the group: Brandix Lanka Ltd, Brandix Active Wear Ltd, Brandix Textiles Ltd, and Brandix Intimate Apparel Ltd.
• Ensured the tax invoices are VAT complied as per the requirement of the IRD.
• Reconciliation of the physical VAT invoices with the input and output vat ledger accounts.
• Preparation of the input-output VAT schedules, NBT schedules and WHT schedules in obtaining the ledger balance.
• Completion of the tax returns and filing of the returns with the IRD, on or before the due dates.

I was a part of the team when the Tax Team won the prize as the ‘Best Team’ for the month of July, 2009 in the monthly event Reward and Recognition, for outstanding performance.

Accounts Payable (Oct 2009 – May 2012)

Executed non-trade advance payments for all clusters of the Brandix Group, settled advances, and prepared the monthly advance schedule for presentation to the CFOs of each cluster.

• Executed non-trade advances within 24 hours of payment requisition receipt, ensuring timely payments to local and international suppliers through various methods including manual cheques and online banking.
• Communication with the clusters and the banks to ensure the receipt of the acknowledgment bank advice for urgent payments.
• Settlement of advances in the ERP system (Movex) upon the receipt of the original invoice to the Finance Division.
• Prepared and circulated non-trade advance schedules to CFOs of each cluster by the 20th of each month, and to the General Ledger Team on the last working day, facilitating month-end closure processes.