Muhammad Farrukh Zia

Senior Finance Manager – Operations | Jul 2019 – Nov 2023 Manager Finance & Audit | Jan 2015 – Jun 2019

A leading Electronics, IT & Digital Gadgets brand since 2001 (DANY, Audionic, ZERO Watches)

• • Worked with CFO for smooth execution of month-end and year-end close procedures, validate operating expenses and accruals to ensure accurate reflection of financial statement
  • Streamlined month-end close process through automation initiatives that increased data accuracy while reducing time spent on administrative tasks.
  • Oversee annual audits, timely regulatory filings of monthly, quarterly and annual tax returns and statuary (SECP) return filing, and compliance with tax & state regulations.
  • Ensure implementation and compliance with FBR Tax policies
  • Monitor and manage Sales Tax & Income Tax adjustments and management of Tax return filing
  • Ensure transparency in financial reporting for stakeholders, including board members, and regulatory bodies.
  • Developed policies and procedures for cash management & optimizing working capital to ensure sufficient liquidity for operational needs and strategic investments.
  • Reduced outstanding receivables through improved credit control procedures and proactive collection efforts.
  • Closely monitoring Day Sales Outstanding (DSO) and Aging Reports to identify overdue and ensure efficiency of AR.
  • Establishing Vendor selection criteria and payments terms to optimize cost.
  • Implement approval workflows for invoice processing and maintain internal controls to prevent unauthorized payments.
  • Monitoring Days Payable Outstanding (DPO), AP aging analysis to access overdue payments and manage vendor relationship to avoid penalties.
  • Implement and monitor investment strategies for budget surplus to maximize returns.
  • Reviews monthly financial operating results and identifying key trends & variances with suggestion for corrective decisions
  • Managed the financial planning process, resulting in more accurate forecasting and informed decision making.
  • Increased financial efficiency by streamlining budgeting processes and forecast by implementing cost-saving measures and collaborate with cross-functional team leads to develop comprehensive financial plans to align all with company's financial goals
  • Identify and execute cost-saving initiatives across departments, ensuring cost-effective resource allocation to maximize efficiency and profitability.
  • Conducted in-depth analysis of the company's financial performance (ROI) against industry benchmarks, highlighting areas for improvement or potential risks.
  • Created financial dashboards to provide insights into key performance indicators.
  • Drive the implementation of financial technologies to improve reporting accuracy and operational efficiency.
  • Oversee financial systems and data management, ensuring integration with overall IT infrastructure.
  • Lead digital transformation initiatives for more agile and data-driven financial management.
  • Closely monitoring with IT department on Software's / Applications Integration, Financial/Accounting reports requirements in ERP and smooth functioning of accounting ERP software's like SAP S4-HANA / Sales & Distribution (S&D), Payroll & Attendance etc.
  • Build and maintain a culture of collaboration, ensuring that the finance department aligns with the company's broader goals.

HADI CPA Accountants & Consultants providing premium Tax & Accounting services to individuals and businesses includes Tax Returns/Planning, Payroll, Financial Planning, Book Keeping and much more

• Lead preparation of monthly, quarterly, and annual financial reports and ensure adherence to (GAAP) and (IFRS) to provide insights on business performance to various USA clients.
• Facilitate month-end and year-end closing procedures to support accuracy of financial reports
• Finalize and communicate monthly and quarterly financial statements and cash flow reports to clients
• Present findings and recommendations to clients and translating complex data into actionable information.
• Develop with client collaboration annual budgets, working closely to gather data and align financial targets.
• Analyze variances between actual results and forecasts/budgets, explaining discrepancies.
• Analyze client's financial data to identify trends, key drivers, and performance metrics.
• Develop dashboards and reports that summarize key findings for executive and departmental leaders.
• Assist clients in long-term strategic planning, including setting growth targets and identifying key financial goals.
• Evaluate the financial impact of potential initiatives, such as market expansions, product launches, or acquisitions.
• Suggest to clients the best practices in financial analysis, modeling, and reporting to improve accuracy and efficiency.
• Leverage financial technology, such as ERP systems or analytics tools, to enhance reporting capabilities to clients.
• Lead monthly payroll run of various clients by validating work hours and attendance of employees
• Monitor issuance of W2 & 1099 to employees & contractor
• Finalizing individual and business tax returns
• Guiding assistant accountant team in prepare Tax working for individuals, AOPs and Corporate
• Filing Tax returns statements 1099, 1120, 1120S, 1065 etc.

Accountant | Jun 2001 – Dec 2008

Renowned Group of Companies serving in Real Estate, FMCG & Plastic Products Manufacturing and Imports of Automotive Engineering & Lubricant products

Assist in preparation of financial statements and ensure adherence to (IAS) and (IFRS).

• Prepare reports for stakeholders, including board members, and financial institutions, on financial status and performance.
• Ensured timely and accurate month-end and year-end closing procedures
• Reporting on working capital for efficient cash use and ensure strategies implementation to optimize liquidity.
• Monitoring of accounts receivable and payable to optimize cash flow and ensure funds availability for daily operations and project funding.
• Developing financial models to forecast cash flow, revenue, and expenditures.
• Participate in budgets, projections, and variance analysis to provide data-driven insights to the executive team.
• Working with the CFO and Manager Finance on property acquisitions, dispositions, and overall portfolio management.
• Analysis of investment opportunities and evaluate the potential ROI.
• Work on reports for financing options for real estate and other projects.
• Participating in capital management to ensure optimal leverage for growth while maintaining liquidity.
• Ensure compliance with financial regulations, tax requirements, and audit procedures.
• Heading successful completion of audits and ensure full compliance with regulatory requirements
• Monitoring and control operating expenses, including property maintenance, and administrative expenses.
• Negotiate vendor contracts and implement cost-saving initiatives without compromising quality.
• Implement or oversee financial systems and technology that enhance reporting, data accuracy, and operational efficiency.
• Working with the integration team of technology solutions, such as property management systems, financial analytics platforms, and ERP systems.