Shwetha Anchan
Abu Dhabi UAE
Summary
Senior Accounting and Finance professional with more than 9 years of experience in trading industry. Specialized in technical accounting, revenue accounting and reporting; finance operations handling statutory audits, internal audits, limited reviews, building and strengthening internal controls. overseeing actual performance against budget and forecast transition and integration, involved in ERP implementation and development, driving automation and various efficiency improvement and cost saving initiatives
Overview
13
13
years of professional experience
Work History
Senior Accountant
Al Dawar General Trading Co LLC, Al Dawar Group
2016.08 - Current
- Dawar Group (which includes Add Care Pharmacy LLC-Main Pharmacy & its branches)
- Handling a team size of 3 members
- Primary responsibilities -
- Overseeing month close accounting activities - Reviewing various month close entries posted in Focus 9 ( which includes prepaid amortization, application of accounts receivable, capitalization of fixed assets, depreciation and amortization, intercompany transactions and confirmations, overseeing bank reconciliations)
- Preparing reporting of monthly standalone and consolidated financial statements for various subsidiaries
- Overseeing the finance operations such as monthly payroll runs, approving full and final settlements, managing weekly vendor payments and employee expense reimbursements, bank transfers, preparing & processing vendor payments that include processing through bank facilities viz Letter of Credit, Trust Receipt, Loan against collection documents, cheque discounting, invoice discounting (complete liaisoning with the bank’s relationship manager to ensure smooth processing of bank transaction)
- Also, actively involved in procurement process which involves fetching different vendor quotes, negotiating for competitive prices & better credit terms
- Maintaining and evaluating stock reports on every import and export shipments, following up closely with the sales team on the liquidation plans at regular intervals
- Well versed with running the banking operations under Murahaba facility with banks like Mashreq, First Abu Dhabi Bank, Commercial Bank of Dubai
- Ensuring timely statutory compliances such as VAT, corporate insurances, Health insurances etc
- Special Assignments - Assisting in the opening of a new pharmacy business in UAE and managing all the start up compliances single handedly
Accounts Manager
Vitane Pharmaceuticals Pvt Ltd
2013.12 - 2016.05
- Global operations supporting the accounting and finance operations of the Group and its subsidiaries based in USA, Germany, Romania, Russia, Saudi Arabia, Nigeria
- Primary responsibilities -
- Overseeing day to day accounting activities, reporting and variance analysis
- Regular MIS reporting to CEO & chairman on unit operations, includes regular business analysis (including breakeven analysis) for individual units
- Assisting preparation of budgets along with team, providing insights on various cost based on drivers, comparison of budget and forecast with actuals, studying variances & implementing corrective actions
- Active indulgence in Cost analysis of products based on market study
- Controlling complete cycle of Procurement-logistics-Vendor Management-Sales
- Overseeing entire AP process - recording of invoices to respective General ledger accounts and departments, maintaining vendor databases, obtaining service confirmations before making vendor payments, review of AP aging, reconciling vendor balances and obtaining confirmations at quarter end and year end
- Overseeing entire AR process - recording of invoices to respective General ledger accounts and departments, maintaining Customer databases, review of AR aging, reconciling customer balances and obtaining confirmations at quarter end and year end, tracking reasons for slow recovery (if any) & implementing better controls to improve the Debtor turnover ratio
- Handling reconciliation, control & balancing of the statutory liabilities A/c viz VAT
- Handling Inter company reconciliations between the sister concerns on monthly basis
- Working as a catalyst in the entire business process, monitoring the flow closely from the procurement stage till the delivery to ensure smooth operations
- Preparing forecasted financials for the units as required by the Top management
- Special Assignments - Played a significant role in setting up of finance module in ERP – Focus in collaboration with IT team
- Building up the accounting and accounts payable team – thereby getting better credit from our top supplier Haupt Pharma GmbH & appreciation from the top Management for better operational management
- Travelled to Germany (Munich) for restructuring the operational process understanding, migrating various process to India by building and training team, working personally with the auditors in Munich to understand & finalise the tax returns.
Article assistant
Sundaram Seshan & Associates
2010.12 - 2013.09
- Successfully completed Article Training (as required by the Institute of Chartered Accountants of India)
Education
Executive Programme (CS) - Law
The Institute of Company Secretaries of India
Mumbai, India06.2012
Bachelors in Commerce - Accounts & Finance
University of Mumbai
Mumbai, India03.2011
Integrated Professional Competence Course - Accounts & Finance
The Institute of Chartered Accountants of India
Mumbai, India05.2010
Skills
- Team Training
- Tax Computation
- Systems Efficiency Evaluation
- Budgeting and Variance Analysis
- Training and Development
- Effective and Professional Communication
Been awarded the "Outstanding Contributor of the year in the field of finance for the year 2020
Received the "Outstanding Contributor of the Year" in the field of Finance for the year 2020 for facilitating smooth flow of finance to the operations team.
Timeline
Senior Accountant
Al Dawar General Trading Co LLC, Al Dawar Group
2016.08 - Current
Accounts Manager
Vitane Pharmaceuticals Pvt Ltd
2013.12 - 2016.05
Article assistant
Sundaram Seshan & Associates
2010.12 - 2013.09
Executive Programme (CS) - Law
The Institute of Company Secretaries of India
Bachelors in Commerce - Accounts & Finance
University of Mumbai
Integrated Professional Competence Course - Accounts & Finance
The Institute of Chartered Accountants of India
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