Zainab Zahid
Sr. Accountant
Lahore
Summary
Experienced and detail-oriented leader with a strong passion for organization and accuracy. Demonstrated expertise in timely reporting, consistently achieving 100% accuracy. Skilled in managing diversified portfolios and ensuring compliance with accounting standards. Dedicated professional committed to delivering high-quality results and driving success in the field of finance.
Overview
4
4
years of professional experience
Work History
Team Lead
RIAZ AHMAD & COMPANY CHARTERED ACCOUNTANTS
06.2024 - Current
- Company Overview: Nexia International
- Involved in leading multiple engagements and managing a team up to 9 associates, Preparing Financial Statements of Diversified sectors, focusing on high-risk areas and ensuring compliance with general accounting principles and standards
- Supervise and mentor junior staff, review working papers, and finalize reports
- Maintain client relationships and ensure compliance with deadlines and standards addressed complex issues, demonstrating a thorough understanding of various accounting standards and practices
- Nexia International
- Key areas: Preparation of Financial Statements- Application of Standards such as IAS-1(Presentation of Financial Statements, IAS 7(Statement of Cash flows), IFRS 4(Insurance Contracts) and Accounting Standard for Not-for-Profit Organizations (NPOs)
- Taxation & Compliance in Various sectors - Handling tax provisions, GST, VAT, Export incentives, duty drawback schemes, and regulatory reporting and managing tax exempt status
- Insurance Contract Accounting (IFRS 4) - Expertise in classifying insurance contracts, premium recognition, reinsurance accounting, Claims reserving and Loss provisioning (IBNR) reserves and liability adequacy tests
- Investment Accounting for Insurance Funds (IAS 39) - Recording and fair valuation of fixed income, equities, and real estate investments under IFRS standards
- Investment accounting as per IFRS 9 - Accounting and financial reporting of investment portfolios in accordance with IFRS 9, including classification, measurement, and impairment of financial assets, such as debt securities, equity securities, and derivatives, ensuring accurate and timely financial reporting and compliance with regulatory requirements
- Risk Management & Actuarial Analysis Support - Coordinating with actuaries for pricing models, risk reserves, and financial reporting
- Regulatory Compliance & Solvency Requirements - Ensuring adherence to insurance regulatory frameworks and solvency margin calculations
Senior Associate
RIAZ AHMAD & COMPANY CHARTERED ACCOUNTANTS
06.2023 - 06.2024
- Company Overview: Nexia International
- As an Associate, I came across various complex areas of financial statements, including revenue from contracts with customers, short-term and long-term financing, investments, leases, advances, expected credit losses and Fixed assets
- My role encompassed a comprehensive review of all key financial areas
- Nexia International
- Key areas: Revenue Recognition & Cut-off Procedures - Ensuring compliance with IFRS/GAAP for textile, food and beverages sales, exports, and bulk contracts
- Revenue Recognition for NPOs, Insurance and Investments
- Fair Value & Amortization of Intangible Assets (IAS 38) - Accounting for acquired customer lists, policy software, and licenses
- Inventory Valuation & Costing - Expertise in FIFO, Weighted Average, and WIP valuation
- Cost of Goods Sold (COGS) Analysis - Allocation of direct and indirect production costs, variance analysis, and profitability assessment
- Fixed Assets & Depreciation - Evaluating textile machinery depreciation, capital vs
- Revenue expenditure classification, and impairment review, managing land acquisitions, disposals, and revaluations in compliance with related party transaction rules
- Foreign Exchange & Hedging - Accounting for forex gains / losses related to imports, exports, and investments in futures
Associate
RIAZ AHMAD & COMPANY CHARTERED ACCOUNTANTS
08.2021 - 06.2023
- Company Overview: Nexia International
- As an associate member, collaborated with the accounting team to analyze and process financial transactions, gaining hands-on experience with expense tracking, accounts receivable, and accounts payable, developing a solid understanding of financial reporting and compliance requirements
- Nexia International
- Key areas: Accounts Receivable & Credit Risk Management - Expertise in trade receivables aging, bad debt provisions, and credit risk analysis
- Payroll & Labor Costing - Managing payroll compliance, contractual labor cost allocation, and statutory deductions
- Fund Accounting & Grant Management - Expertise in donor-restricted and unrestricted fund accounting, grant reporting, and compliance
- Employee Benefits & Vehicle Transactions - Accounting for employee vehicle financing, lease agreements, and depreciation under IFRS
Education
Chartered Accountancy (Continued) - Accounting And Finance
Institute of Chartered Accountants Pakistan
Skills
Regulatory compliance
Bookkeeping
Financial reporting
Bank reconciliation
Accounts payable and receivable
Audit support
Auditing
Account reconciliation
Financial statements
Statutory reporting
Variance analysis
Timeline
Team Lead
RIAZ AHMAD & COMPANY CHARTERED ACCOUNTANTS
06.2024 - Current
Senior Associate
RIAZ AHMAD & COMPANY CHARTERED ACCOUNTANTS
06.2023 - 06.2024
Associate
RIAZ AHMAD & COMPANY CHARTERED ACCOUNTANTS
08.2021 - 06.2023
Chartered Accountancy (Continued) - Accounting And Finance
Institute of Chartered Accountants Pakistan