Basic Info

Waqas Hassan

10 years

United Arab Emirates

Bachelor's Degree

Manager

Work Experience

Senior Project Accountant at RAK Hospitality Holding LLC

Experience Details

Senior Project Accountant

Accounting/Finance, Hospitality/Hotels/Food Services

Experienced (Non-Manager)

 Book keeping, banking transaction and passing journal vouchers for accurate financial recording
 Exercise of control over GL functions. This includes but is not limited to monthly, quarterly and annual closing. Ensured closure of books within agreed corporate timetable and accuracy of reporting with minimal material adjustments.
 Preparation of management and financial accounts. Support to business on financial reporting matters with a view to manage audit risks, IFRS compliance
 Project budgeting and reporting. Take the lead in the preparation and consolidation of annual budgets and regular forecast update.
 Project expense management, forming budget variations, developing reasons for variance. This resulted in increased efficiency by 25% and also reduced costs by 10%.
 Bank reconciliation, cash and bank management. Regular and accurate maintenance of reconciliations resulted in 0% errors in last 03 months.
 Payroll Management, ensuring timely preparation of payroll with relevant income tax and/or other deductions and overtime calculation
 Inventory management: recording, accounting and utilization record. As a result, missing inventory items are reduced to 3% of total inventory cost.
 Correspondence with branch offices for project performance.
 Assist in the development of strategic plans for operational activity. Implement and manage operational plans. Attrition rate was not more than 3%.
 Keeping up with procurement policies and ensuring timely arrangement of documentation and all relevant requirements
 Developing funds requirement / expense allocation
 Payables management/ invoice processing
 Develop customized reports to be presented to higher management and support fellow departments
 Developing and ensuring internal control document and process.
 Ensuring controls stand with the smooth and transparent function of activities, devising new ones to replace error by 100%.
 Examine business processes to manage the audit risk and address internal control issues, if any. Identify process issues, if any, arising from reviews, identify audit / control risks and setting right with stakeholders’ involvement.
 Query handling and monitoring.
 Evaluating procedures and Individuals performance to suit departmental & organizational goals
 Dealing with staff; assisting team to achieve efficiency, effectiveness and accuracy


Company Details

RAK Hospitality Holding LLC

United Arab Emirates

51-100 employees

Food Services/Restaurants/Catering

N/A

May 2017 to present (7 months)
Senior Manager Finance & Accounts at Akbar Associates Group of Companies

Experience Details

Senior Manager Finance & Accounts

Accounting/Finance

Manager

 Slashed payroll & administration cost by negotiating, maintaining and monitoring contracts. This helped in achieving reduction in costs by 20%. Conducting sub-recipient monitoring of contracted partners; and provide oversight to program and fiscal audits.
 Responsible for financial planning, monitoring, reporting and the development of policies, systems and processes across the organization. Increased organizational efficiency by 5%, hence 20% more profits for the year.
 Handle entire financial and cost accounting role, i.e. accounts receivable, accounts payable, general ledger, treasury, forecasting and budgeting.
 Managing organizational cash flow and forecasting and oversight of all bank accounts and investment vehicles to maintain adequate working capital requirements
 Prepare Group Treasury Report, Exceptions Report, Cost centre Report and any other adhoc reporting requirements of Senior Management.
 Achieved 95% accuracy of financial transactions by ensure accurate calculation of all debt service obligations and posting of monthly accruals. Monthly reconciliation of Interest, fees and loan balances.
 Ensure the smooth and adequate flow of information within the company to facilitate other business operations along with managing schedules and deadlines
 Ensuring that the company's relevant risks identified by the company's Risk Management are incorporated into the internal audit plan, internal audit execution and working papers. Hence, risks were mitigated to 2%.
 Produced clean & unqualified audit reports for consecutive 05 years for the external audit conducted by GT (One of Big4).
 Maintaining LCs for import of oil equipment from China, Singapore, Cameroon
 Book Keeping, Bank Reconciliations done regularly resulted in 100% accurate information with 0% margin of error.
 Cash and Bank management. Increased the cash cycle by 60days
 Monthly and quarterly management reporting
 Accurate payroll processing with salaries disbursement not later than 5th of every month.
 Performance analysis reports with variance studies resulted in increased performance by 10%.
 Analysis of accounts receivables/accounts payables aging. Aging was reduced by 30% in terms of number of days.
 Supervise Accounts staff in their respective accounting functions.
 Complete analysis, projections and reporting as required by the CFO, CEO, Directors
 Filing statutory returns to SECP and FBR.
 Annual statutory audit and compliance with local statutory requirements.
 Formation of annual financial statements as per IFRS.
 To play a proactive role in reviewing accounting policies, systems and reporting requirements on regular basis as well as recommend changes for improvement
 Clear unaccounted entries with AP in current period and identify issues in unaccounted transaction
 Arrange Auditor’s certificate as per various departments requirements
 Support business forecast processes
 Ensure all contracts are included in accounting for tax issues and credit limits
 Ensure timely payment of customers by day 60th after invoice submission in accounts.
 Interface with a number of functional teams within and outside to develop controls and implement them in processes and standards to sustain and continuously improve the internal control environments
 Maintain the appropriate internal controls documentation to help ensure controls are operating effectively, including annual review of key controls on the site internal control processes
 Provide monthly analysis and accrual recommendations and supporting information associated with outstanding invoices and services performed, on both capital and expense items - work closely with Senior Accountant to coordinate period end accruals to maximize accounting accuracy
 Ensure balance sheet integrity (BSI) through summary account status reports against the RV2 (reconciled, verified, validated) standard
 Provide weekly fixed cost reports to management for monthly financial estimation purposes and to inform management in a timely manner of potential overspend against budget
 Generate invoices for option premiums, executed options and swaps, review for accuracy and email to customers after prices are published and interfaced to the financial settlement system
 Allocation of incoming payments including Direct Debit allocation
 Dealing with returned funds, deductions and other differences


Company Details

Akbar Associates Group of Companies

Islamabad, Pakistan

More than 1000 employees

Oil and Gas

N/A

Feb 2012 to May 2017 (5 years 3 months)
Manager Finance & Accounts at Personforce Consulting Private Limited

Experience Details

Manager Finance & Accounts

Accounting/Finance

Experienced (Non-Manager)

 Accurate presentation of financial information in financial statements
 Analysis of accounts receivables/accounts payables aging & monitoring with sales.
 Monthly E-filling of Taxation
 Cash and Bank management and cash in and out flows monitoring
 Inventory management
 Supervise the general ledger group to ensure all financial reporting deadlines are met.
 Ensure the monthly and quarterly Bank Compliance activities are performed in a timely and accurate manner.
 Supports budget and forecasting activities.
 Work with the Controller to ensure a clean and timely year end statutory audit
 Assist in development and implementation of new procedures and features to enhance the workflow of the department.
 Provide training to new and existing staff as needed.
 Handle personnel issues relating to staff conflicts, absenteeism, performance issues, etc.
 Work with each direct report to establish goals and objectives for each year and monitor and advise on the progress to enhance the professional development of staff.


Company Details

Personforce Consulting Private Limited

Islamabad, Pakistan

11-50 employees

Consulting Services

N/A

Dec 2010 to Dec 2011 (1 year)
Audit Senior at Grant Thornton International

Experience Details

Audit Senior

Accounting/Finance

Entry Level

Completed various assignments


Company Details

Grant Thornton International (multinational)

Islamabad, Pakistan

More than 1000 employees

Accounting and Auditing Services

N/A

Sep 2006 to Dec 2010 (4 years 3 months)

Achievements


 Project expense management, forming budget variations, developing reasons for variance. This resulted in increased efficiency by 25% and also reduced costs by 10%.
 Bank reconciliation, cash and bank management. Regular and accurate maintenance of reconciliations resulted in 0% errors in last 03 months.
 Inventory management: recording, accounting and utilization record. As a result, missing inventory items are reduced to 3% of total inventory cost.
 Assist in the development of strategic plans for operational activity. Implement and manage operational plans. Attrition rate was not more than 3%.


 Slashed payroll & administration cost by negotiating, maintaining and monitoring contracts. This helped in achieving reduction in costs by 20%. Conducting sub-recipient monitoring of contracted partners; and provide oversight to program and fiscal audits.
 Responsible for financial planning, monitoring, reporting and the development of policies, systems and processes across the organization. Increased organizational efficiency by 5%, hence 20% more profits for the year.
 Achieved 95% accuracy of financial transactions by ensure accurate calculation of all debt service obligations and posting of monthly accruals. Monthly reconciliation of Interest, fees and loan balances.
Clean and unqualified audit reports for five consc years
 Ensuring that the company's relevant risks identified by the company's Risk Management are incorporated into the internal audit plan, internal audit execution and working papers. Hence, risks were mitigated to 2%.


Completed various assignments in Audit, Advisory and Business Assurance department including Full scope
audits, Limited scope reviews, Audit assignments based on agreed upon procedure, Special certificates in
accordance with the regulatory requirements, Prepared various financial and technical proposals, Internal
controls assignments and book keeping.



Education

B Com in Commerce & Accounts

Education Details

B Com

Commerce & Accounts

The University Of Faisalabad, Pakistan

C / Good / 65 - 75%

Taxation Financial Accounting Management Accounting Business Maths Law

N/A

The University Of Faisalabad
2002 - 2005
High School - Other

High School Details

Other

IMCB

Pakistan

2002

C / Good / 65 - 75%

N/A

IMCB
2002

Certifications

ACCA
Dec 2017

Certificate details

ACCA

Dec 2017

na

N/A

N/A

ACCA

Intermediate in Process

Training and Courses

Training/Course Details

Attended various training courses conducted by Grant Thornton (Prominently those relating to GT audit methodology, developments in the IFRSs, Presentation Skills Training Course)

Dec 2010

GT

Attended various training courses conducted by Grant Thornton (Prominently those relating to GT audit methodology, developments in the IFRSs, Presentation Skills Training Course)

This profile is not updated!
Last update more than 5 months ago.

Jobseeker photo

Profile Skills and Keywords

ACCAAccountingAccounting And Auditing ServicesArabicAttended Various Training Courses Conducted By Grant Thornton (Prominently Those Relating To GT Audit Methodology, Developments In The IFRSs, Presentation Skills Training Course)Audit Assessment SoftwareAudit SeniorBank ReconciliationsBookkeepingBudgeting & ControllingCarsCateringCommerce & AccountsConsolidation Of AccountsConsulting ServicesERPEnglishExecutorExternal AuditFICS (Financial Information And Control System) - Accounting SoftwareFinanceFinancial Planning & AnalysisFinancial ReportingFinancial Statement Interpretations For The Stakeholders, Lenders And Government AgenciesFood ServicesForecastingFoxpro - Accounting SoftwareFrenchGAAPGrant Thornton InternationalHandles StressHard WorkerHospitalityIASIFRSIncome Tax And Sales Tax LawsInsuranceInternal AuditInternational Financial Reporting Standards (IFRS) & GAAPInternational Standards On Auditing (IAS)Inventory, Creditors, Debtors, Sales, Payroll, Cash Management And Credit ControlManagement ReportingManager Finance & AccountsOil And GasOraclePIBAS - SME Bank Accounting SoftwarePayables ManagementPayroll ManagementPlaying With NumbersProblem SolverPunjabiQuickbooks - Accounting SoftwareRestaurantsSAPSenior Manager Finance & AccountsSenior Project AccountantTeam PlayerUrduVATVoyager - Audit Control Assessment And Risk Evaluation-Risk Assessment Software

Self-assesed Skills

Languages

Arabic

Arabic

: Intermediate

: Beginner

: Beginner

: Beginner

English

English

: Advanced

: Advanced

: Advanced

: Advanced

French

French

: Beginner

: Beginner

: Beginner

: Intermediate

Urdu

Urdu

: Fluent

: Fluent

: Fluent

: Fluent

Punjabi

Punjabi

: Intermediate

: Beginner

: Fluent

: Advanced

Tools and Technologies

SAP

SAP

: Intermediate

: High

:

1-3 years

Oracle

Oracle

: Intermediate

: High

:

1-3 years

Fields of Expertise

Financial Reporting

Financial Reporting

: Expert

: Extreme - I love it!

:

More than 7 years

Forecasting

Forecasting

: Expert

: Extreme - I love it!

:

More than 7 years

Management Reporting

Management Reporting

: Expert

: Extreme - I love it!

:

More than 7 years

Payroll Management

Payroll Management

: Expert

: Extreme - I love it!

:

More than 7 years

Payables Management

Payables Management

: Expert

: Extreme - I love it!

:

More than 7 years

Budgeting & Controlling

Budgeting & Controlling

: Expert

: Extreme - I love it!

:

More than 7 years

bookkeeping

bookkeeping

: Expert

: Extreme - I love it!

:

5-7 years

Bank Reconciliations

Bank Reconciliations

: Expert

: Extreme - I love it!

:

More than 7 years

Financial Planning & Analysis

Financial Planning & Analysis

: Expert

: Extreme - I love it!

:

More than 7 years

GAAP

GAAP

: Expert

: Extreme - I love it!

:

More than 7 years

IFRS

IFRS

: Expert

: Extreme - I love it!

:

More than 7 years

IAS

IAS

: Expert

: Extreme - I love it!

:

More than 7 years

Internal Audit

Internal Audit

: Expert

: Extreme - I love it!

:

3-5 years

External Audit

External Audit

: Expert

: Extreme - I love it!

:

More than 7 years

Consolidation of Accounts

Consolidation of Accounts

: Expert

: Extreme - I love it!

:

More than 7 years

Voyager - Audit Control Assessment and Risk Evaluation-Risk assessment Software

Voyager - Audit Control Assessment and Risk Evaluation-Risk assessment Software

: Expert

: Extreme - I love it!

:

3-5 years

Audit assessment Software

Audit assessment Software

: Expert

: Extreme - I love it!

:

3-5 years

Quickbooks - Accounting Software

Quickbooks - Accounting Software

: Expert

: Extreme - I love it!

:

3-5 years

PIBAS - SME Bank Accounting Software

PIBAS - SME Bank Accounting Software

: Expert

: Extreme - I love it!

:

1-3 years

Foxpro - Accounting Software

Foxpro - Accounting Software

: Expert

: High

:

1-3 years

FICS (Financial Information and Control System) - Accounting Software

FICS (Financial Information and Control System) - Accounting Software

: Expert

: Extreme - I love it!

:

3-5 years

International Financial Reporting Standards (IFRS) & GAAP

International Financial Reporting Standards (IFRS) & GAAP

: Expert

: Extreme - I love it!

:

More than 7 years

International Standards on Auditing (IAS)

International Standards on Auditing (IAS)

: Advanced

: Extreme - I love it!

:

More than 7 years

Income Tax and Sales Tax laws

Income Tax and Sales Tax laws

: Advanced

: Extreme - I love it!

:

More than 7 years

ERP

ERP

: Intermediate

: Extreme - I love it!

:

3-5 years

Oracle

Oracle

: Intermediate

: Extreme - I love it!

:

1-3 years

SAP

SAP

: Intermediate

: High

:

1-3 years

VAT

VAT

: Intermediate

: High

:

3-5 years

Financial Statement interpretations for the stakeholders, lenders and government agencies

Financial Statement interpretations for the stakeholders, lenders and government agencies

: Intermediate

: High

:

More than 7 years

Inventory, Creditors, Debtors, Sales, Payroll, Cash management and Credit control

Inventory, Creditors, Debtors, Sales, Payroll, Cash management and Credit control

: Intermediate

: High

:

5-7 years

Key Skills

Executor, Hard worker, Problem Solver, Handles Stress, Team Player

Online Presence

https://www.linkedin.com/in/malikwaqasulhassan/

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