SAP B1
MUHAMMAD ASIM
Chartered Accountant
Lahore,PB
Summary
Chartered Accountant with more than 10 years of valuable experience in managing the entire spectrum of finance, auditing, accounting, and taxation matters with deep insight of applicable accounting, tax and corporate laws. Expertise in managing complex financial scenarios.
Overview
4
4
Languages
16
16
years of post-secondary education
13
13
years of professional experience
Work History
Senior Manager Advisor-Reporting, Finance, Tax
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
Lahore
07.2015 - Current
- Engaged in financial planning, decisions with respect to initial capital funding, best fit structures, long term and short-term financial planning.
- Data driven decision making based on data analysis related to products fetching high profits, low performing products and many other analytical factors.
- Engaged in preparation of project planning and computation pre tax ROI and Pos tax ROI.
- Contract management covering the finalization of commercial, financial and taxation terms
- Executed core financial processes, including vendor setup and payment, operational expenses, administration of bank accounts and account reconciliations.
- Finalization and review of monthly, quarterly, bi-annual and annual financial statements in accordance with IFRS. Finalization of group Financial statements.
- Researched and drove integration of system to increase efficiency of accounting & reporting systems.
- Created organizational structures to improve accounting and finance functions.
- Created documents to display financial reports and data using Software.
- Trained new and existing staff members in various financial procedures to prepare for job requirements.
- Management of transfer pricing issues, tax implications on international transactions and transactions with parent companies. Handling non-resident taxation issues and implication of tax treaties, onshore & offshore taxation issues.
- compliance risk management. Ensuring compliance with all taxation laws. Managing direct and indirect taxation laws compliance.
- Evaluation of tax Risk and monitoring internal policies and procedures to address the tax risk. Managing tax audit and other tax proceedings of the company
- Coordination and liaison with internal and external auditors for the annual audits and quarterly reviews. Reviewing of Management Letter issued by external / internal auditors and gathering response from relevant departments for consolidation and submission to the auditors.
- Leading & training finance team members to well equip them with latest law amendments with the concept of capacity building
- Partnered with IT, business development and operations leadership to develop robust financial business plan with detailed benchmarks and action plans.
- Built and strengthened productive and valuable industry partnerships to drive collaboration, engagement and revenue stream development.
Manager Advisory-Reporting, Finance & Tax
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
Lahore
07.2013 - 06.2015
- Executed core financial processes of clients. transaction based advisory, contract advisory with the perspective of accounting and reporting laws, tax and other commerical laws of country.
- processing transactions, recording the transaction impact, preparations of books, accounting record and preparation of financial statements for clients operations using cloud based and remotely deployed ERPs.
- Preparation of reports on financial results, financial performance and growth of client.
- Trained new and existing staff members in various financial procedures to prepare for job requirements.
- Created documents to display financial reports and data using Software.
- Consulted with representatives of regulatory agencies to complete accurate filings and uphold strict compliance.
- Decreased monthly expenditures by more than 20% through effectively reviewing documents and identifying problem areas.
Asst. Manager-Client Services
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
Lahore
09.2012 - 06.2013
- Serving efficient service to all customers, handled challenging situations with ease.
- managing clint queries & requests for opinions on corporate reporting, finance and taxation matters.
- responding queries arising from day to day operations. offering best possible solutions to manage day to day operational issues.
- managing transaction reporting and tax impact issues.
- supervising team of deployed personals doing accounting work. resolving reporting issues
- Tax Planning and tax concept papers for new/proposed investments, transaction-based taxation, tax opinions covering non-resident taxation, under multilateral tax treaties and current laws. computation of annual tax liability for statutory audit purposes for all type of tax payers. SKU wise tax analysis and preparation of tax budgets.
- Used Microsoft Word and other software tools to create documents and other communications.
- Performed duties in accordance with all applicable standards, policies and regulatory guidelines to promote safe working environment.
- Developed and implemented performance improvement strategies and plans to promote continuous improvement.
Audit Associate
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
Lahore
06.2010 - 08.2012
- Analyzed trends over monthly, quarterly and annual financial data to investigate fluctuations.
- Developed and enforced audit policies and administrative and technical functions.
- Complied with federal, state and local requirements.
- As a team leader conducted audits of various companies in Computer Information System (CIS) environment
- development of audit plans, identifying internal control weaknesses
- Applying appropriate audit procedures based on risk level of client
- Followed up on reviews to assess and report on completion or progress of corrective actions.
- supervision of audit, audit reviews, liaison with client and audit staff, completion and finalization of audited accounts
Tax Associate
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
Lahore
09.2008 - 06.2010
- Reviewed and analyzed client data and accurately prepared income tax returns
- Delivered comprehensive tax documentation required for accurate individual and corporate returns.
- Consulted with clients to assess and mitigate future tax liabilities and determine eligibility for tax abatement.
- Researched and analyzed specialized tax laws, rules and regulations and analyze pertinent client, industry and technical matters to remain current on tax legislation.
- Secured and properly handled confidential data to protect against unauthorized access, improper transmission and unapproved disclosure.
- Contacted IRS/FBR or other relevant government organizations on behalf of client to address issues related to tax self-preparation.
- Conducted reviews of internal tax documentation, reducing errors related to missed tax benefits.
- Facilitated integration of modern tax software with client accounting software.
- Reviewed available data and compared against tax code to determine exemptions, deductions, and potential liabilities.
- Prepared wide array of returns such as corporate, fiduciary, gift, individual and private foundation returns.
- Reviewed clients tax filing papers thoroughly to determine eligibility for additional tax credits or deductions
- preparation and filling of monthly withholding statements, sales tax returns, preparation of draft reply to tax notices, preparation of annual income tax returns, reparation & filling of appeal documents and any other tax work
Education
BBA - Commerce
Hailey College of Commerce
Lahore 01.2003 - 12.2005
Chartered Accountant-Inter - Accountancy And Finance
Institute of Chartered Accountant of Pakistan
Lahore 01.2006 - 09.2008
Associate Chartered Accountant - Accounting And Finance
Institute of Chartered Accountant of Pakistan
Lahore 01.2009 - 06.2019
Skills
Finance reporting standards
Software
Quick Book-Cloud Based and Local server
Telly
Customized ERP for FMCG Sector
Customized ERP for Construction Sector
Real Time Invoice Management Software of FBR
Point of Sales Solution
Customized Data Analysis Software
Task and Team Management Software
Interests
Technology Driven Products, solutions, techniques
Political and Business Environmental Changes Effecting economies
Adaptive techniques ruling over fear of change
Timeline
Senior Manager Advisor-Reporting, Finance, Tax
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
07.2015 - Current
Manager Advisory-Reporting, Finance & Tax
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
07.2013 - 06.2015
Asst. Manager-Client Services
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
09.2012 - 06.2013
Audit Associate
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
06.2010 - 08.2012
Associate Chartered Accountant - Accounting And Finance
Institute of Chartered Accountant of Pakistan
01.2009 - 06.2019
Tax Associate
MHSS& Co. (Affiliated with of UC&CS America & US&CS Global)
09.2008 - 06.2010
Chartered Accountant-Inter - Accountancy And Finance
Institute of Chartered Accountant of Pakistan
01.2006 - 09.2008
BBA - Commerce
Hailey College of Commerce
01.2003 - 12.2005
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