ORACLE
Adnan Shaheen
Finance & Accounts Professional
Multan
Summary
I am a dedicated, hardworking and initiative taking PwC alumni being professional of Accounts, Finance and Taxation with more than nine years of experience with reporting to CEO, COO and Senior Management. By professional qualification, I'm a finalist of Chartered Accountancy. I am seeking opportunities where I can exercise my professional knowledge and experience which I gained through performance of variety of tasks in the major domains of Finance and Accounts.
Overview
9
9
years of professional experience
6
6
years of post-secondary education
1
1
Certification
2
2
Languages
Work History
Chief Manager Finance, Account and Tax
Hafeez Ghee and General Mills Pvt Ltd
Multan
05.2022 - Current
- Financial Statements: Management accounts for review of CEO and Directors. Statutory accounts for statutory audit statutory compliances
- Joint Venture accounts: Review of JV accounts and computation of distribution of profits of Joint Venturer in accordance with the terms of JV agreement.
- Provident Fund: Preparation of PF accounts, investment of PF balances, disbursement of PF loans and final settlement of employees
- Cost audits: Cost audits of manufacturing facility as per requirements of The Companies Maintenance and Audit of Cost Accounts Regulations, 2020
- Cashflow forecast and financing: Review of availability of funds, funds requirements and arrangement of funds as per need
- Investment analysis: Analyzing different portfolios w.r.t high returns for the purpose of investments and effective utilization of surplus funds
- Costing of imports: Review of purchase costs, duties, taxes, markups on credit lines and computation of cost of inventory
- Costing and pricing: Review of computation of manufacturing costs of the products and computation of target sale prices
- Standard costing and variance analysis: Computation of standard cost of production and variance analysis with actual cost of production
- Inventory management: Review of movement in stocks of direct and indirect material during the period and variance analysis of material consumption
- Payables management: Verification of purchases and approval of disbursement of payments on daily basis. Review of creditor’s aging analysis on monthly basis. Reconciliation of purchases with payables
- Receivables management: Review of debtor’s aging analysis on monthly basis. Reconciliation of sales with debtors
- Petty cash management: Utilization of petty cash, physical count of petty cash fund on regular and surprise basis
- Disbursement of Payroll: Review of and disbursement of payroll and other employee benefits as announced by company on ad hoc as well as policy basis
Manager Accounts & Finance and Taxation
Premium Petroleum Pvt Ltd
Multan
10.2021 - 05.2022
- Management accounts: Review of quarterly and annual management accounts of private company, AOPs and sole proprietorship entities.
- Statutory accounts: Review of accounts in the light of applicable accounting standards in Pakistan with a view to get them audited.
- Statutory audits: Coordinating with external auditor for the audit of Financial Statements of more than 50 entities.
- Internal Audits: Pre-audit of all transactions on daily basis, review of inventories management, sales and purchase areas etc.
- Monitoring of inventory: Review of stock levels, sold out, obsolete stocks. Inventory movements during the period, inventory turnovers and planning thereof.
- Reconciliation of purchases and payments with suppliers: Review on monthly basis of reconciliation with suppliers’ ledgers.
- Monitoring of bookkeeping on daily basis: Review of journal entries report having more than 300 journal entries on daily basis.
- Review of data for tax compliances: Review of data i.e., Purchases, sales, payments etc. and sharing it with Tax department to ensure compliances under Sales tax, u/s 153 and 236 G.
- Managing intra entities transactions: Review of record of inter group transactions and loans.
- Review and disbursement of payroll: Review of payroll, its recording and disbursement supervision.
- Filing of income tax returns: Computation of taxable income, tax liability and filing of income tax returns of individuals, AOPs and company.
- LC transactions and costing of inventory: Review and evaluation of LC transactions, review of reconciliation of assessed and purchase value, its recording and computation of cost of inventory of imported products.
- Feasibilities and investment appraisals: Review/ preparation of investment appraisals and feasibilities of new projects and/ or initiatives.
- Responding to queries from banks: To get sources of finances from banks, coordinating with banks and responding to their queries related to Financial Statements and variances in the line items.
- Business process reviews: Review of existing business processes, identifying the areas of improvements, suggesting and developing compatible SOPs.
Assistant Manager - Finance & Accounts
Indus Hospital and Health Network
06.2017 - 10.2021
- Statutory Audits: Coordination with management and auditors to provide Financial Statements (FS) and related data to auditor and get FS audited. I successfully got FS audited with unmodified opinion for four (4) years 2017-18 to 2020-21.
- Review of Statutory and Management FS: Review of monthly management accounts along with related reports e.g. BRS, Creditor’s aging analysis, Inventory Movement etc. Review of annual accounts with perspective of compliance with applicable IFRS.
- Review of Budgets: Review for finalization of annual OPEX and CAPEX budgets and presenting it to senior management for final presentation to Board of Directors.
- Variance Analysis: Carrying out variance analysis along with reasons and/ or remarks for presentation to senior management. Coordination with other departments to mitigate negative variances.
- Review of Costing: Calculation/ Review of cost of medical services which are provided by Hospital. Costing of medical services also includes Laboratory Tests and Kidney Transplant.
- Review of Billing: Review of patients bills, their accuracy according to medical services rendered to patients and their presentation to Trust as per demand.
- Fixed Assets Register Management: Maintaining record of fixed assets, their movement and disposals thereof etc. Monitoring tagging of assets.
- Receipt & Payment Reporting: Reporting to Trust on monthly basis of utilization of funds to meet OPEX and CAPEX requirements. Estimating funds requirement for the next periods keeping in view funds received through Trust and other different resources.
- Payables Management: Managing liabilities, verification of supporting for payments of vendors, which are more than Five hundred (500) in numbers, according to creditor’s management policy. These liabilities and payments include utility payments as well.
- Disbursement of Payroll and other employee Benefits: Review of payroll of more than seven hundred (700) of employees. Review of disbursement details and coordination with banks for payroll disbursement. Processing of loans out of reserves maintained by Hospital, recovery and recording of loans installments.
- Monitoring of Inventory Consumption: Monthly monitoring over pattern of inventory consumption, its alignment with pattern of volumes of medical services rendered.
- Cash Flow (Funds) Management: Monthly review/ preparation of cash flow forecasts and planning of utilization of funds. On the basis of forecasted cash flows, determining the need of funds of future periods.
- Cafeteria Sales Revenue Management: Monthly monitoring over revenue generated from Cafeteria. Setting the rates of the products. Review of monthly profit and loss analysis of cafeteria.
- Petty Cash Management: Monitoring over petty cash utilization, its management and ensuring compliance of internal controls over incurrence of petty cash expenses.
- Responding to Internal Audit Queries: Coordination with internal auditor and finance & accounts team to provide data to auditor, addressing the queries raised by internal auditor, giving remarks on observations documented by auditor and implementation of recommendation given by auditor.
- Team Management: Managing a team of Nine (9) professionals with stress management, conflict resolution, and motivational issues and marking performance appraisals.
- Related Party Transactions: Management of and monitoring over related party transactions. Monthly reconciliation and settlement of payable/ receivable.
Supervisor Business Process Review
A. F. Ferguson & Co. Chartered Accountants
Lahore
01.2017 - 04.2017
- Documented AS-IS i.e. Existing SOPs being followed by the company.
- Documented TO BE i.e. If company wants to shift to SAP then what changes in existing processes shall have to be made.
- Documented Road Map i.e. In which phases/ steps company shall move its operations from current software to SAP
Audit Associate
A. F. Ferguson & Co. Chartered Accountants
Lahore
05.2013 - 11.2016
- Planning of Audit based on draft version of Financial Statements and previous working papers.
- Analyzed trends in financial data to identify abnormal fluctuations.
- Discussion on client's profile and relevant industry to assess the risks.
- Assigning areas to different team members according to their technical strengths for conducting audit in accordance with ISAs and preparing relevant working papers as per applicable laws.
- Documenting available information and data in documentation software AURA.
- Administered auditing program to address risks and evaluate compliance with regulatory requirements.
- Review of findings of the audit by the team and passing on necessary instructions.
- Getting audit workings papers reviewed by audit managers and engagement partner.
- Finalizing audit report based on working papers and discussion with those charged with Governance.
- Issuance of audit report to client and ensuring safe custody of working papers
- Proof reading of audit report and financial statements to be published by client.
Education
Chartered Accountant - Finalist - Accounting And Finance
Institute of Chartered Accountants of Pakistan
Karachi, Pakistan 06.2011 - 05.2013
Bachelor of Arts - English Literature
Bahauddin Zakariya University (BZU)
Multan, Pakistan 11.2020 - 04.2022
Associate of Science - Mathematics
Punjab Group of Colleges
Multan, Pakistan 02.2008 - 06.2010
Skills
Finance and accounting
Certification
Advanced Excel for Business
Software
QUICKBOOKS
MICROSOFT EXCEL
Industries Experienced
- Ghee and Oil (Manufacturing)
- Fertilizers (Trading)
- Solar Energy (Trading)
- Healthcare Services (Hospital)
- Audit Firm
- Others
Accomplishments
- A problem of wrong treatment of input sales tax was identified and troubleshooted which lead to profitable results as compared to previously loss results.
- Developed chart of accounts of a newly established Hospital.
- Got financial statements audited from A. F. Ferguson & Co. Chartered Accountants with unmodified opinion.
- Trained and supervised a team of ten staff members.
- Helped Store department to develop inventory tracking spreadsheets using Microsoft Excel.
Timeline
Chief Manager Finance, Account and Tax
Hafeez Ghee and General Mills Pvt Ltd
05.2022 - Current
Advanced Excel for Business
10-2021
Manager Accounts & Finance and Taxation
Premium Petroleum Pvt Ltd
10.2021 - 05.2022
Bachelor of Arts - English Literature
Bahauddin Zakariya University (BZU)
11.2020 - 04.2022
Assistant Manager - Finance & Accounts
Indus Hospital and Health Network
06.2017 - 10.2021
Supervisor Business Process Review
A. F. Ferguson & Co. Chartered Accountants
01.2017 - 04.2017
Audit Associate
A. F. Ferguson & Co. Chartered Accountants
05.2013 - 11.2016
Chartered Accountant - Finalist - Accounting And Finance
Institute of Chartered Accountants of Pakistan
06.2011 - 05.2013
Associate of Science - Mathematics
Punjab Group of Colleges
02.2008 - 06.2010
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