Amgad Abdul Mohsen, CMA

Accountabilities:

• Financial Analysis, Budgeting, and Forecasting

• Accounting, General Ledger

• Financial Management

• Financial Relations and Policies

• Finance and Accounting Team Management

• Cash Management.

Budgeting & MIS:

• Prepare & finalize the financial/operational budgets with the various team members & present them to Management

• Provide exceptions and various Analysis Reports on MIS • Study and pricing new projects and tenders. (Capital needed, cash flows and P/L )

• Prepare the costing and analyzing the cost drivers of RAC tenders and making sure the actual expenses not exceed the projected tenders costing.

• Monitor various inventory costing (Vehicles, OBM, Cycles, and Spare parts).

• Monitor the costing of job cards in all garages.

• Generate monthly MIS and interpret data to suggest ways of cost optimization and performance improvement • Monitor the income and expenses versus budget, track the variances, recommend corrective actions, and follow up on remedial actions to ensure adherence to the budget and to support the effective monitoring of performance within the budget

• Initiate and develop reporting and tracking systems

• Train and educate the team members about errors / new system developments.

Financial Accounting & Control:

• Prepare the annual financial statements.

• Develop and maintain systems for prompt and accurate collection of financial and accounting information

• Prepare monthly and quarterly financial statements in compliance with the statutory/ regulatory norms

• Ensure all Revenue and expenses are properly accounted for

• Analyze discrepancies and resolve queries about the reports prepared

• Manage payables and receivables for all the concepts

• Supervise Insurance transactions - Policy formation/renewal, and addition/rate negotiation

• Supervise Banking transactions - Daily fund management/utilization of funds / liaisoning with banks / analyzing banking facilities and Repayment

• Set up controls and procedures for debtors

• Monitor the staff cost against Sales/Business outcome

• Conduct markdown management by detailed analysis of margins and gross profit and advice on margin setting for fresh stock and discounted sales.

IT responsibilities:

• Ensure smooth functioning of the operating system, database, application server software, and middleware

• Avert IT infrastructure problems and resolve issues before they impact business availability

• Ensure minimum downtime of critical IT systems

• Monitor, evaluate and forecast critical IT infrastructure requirements

• Ensure efficient turnaround of IT software and hardware-related complaints, queries

• Ensure query design, maintenance, and management for MIS generation through ERP systems.

Bank Facilities:

• I am managing over 100 million Kuwaiti dinars of total bank facilities between cash facilities and non-cash facilities.

• Ensure optimum allocation and utilization of allocated working capital for various divisions

• Analyze Working Capital requirement viz. Receivables, Inventory, and Trade Creditors and coordinate with Banks to arrange the required finances

• Liaise with major trading banks and other financial institutions to source forecasts and predictions. .

• Handle treasury operations such as (Fx dealing, fund securing, and interest rate negotiation).

The company's subsidiaries:

(1) Al-Mas Holding

(2) Gulf Diamonds DMCC

(3) Emirate Cut Co.

• Supervision Payment Journals & Adjustments
• Prepare Fund Position for banks and banks reconciliation
• Responsible about the assurance of conformance of intercompany accounts
• Supervision Petty Cash in Advance (Custody)
• Supervision leaves pay provisions & payments for every employee which submitted by HR department and Final Settlement
• Supervision and control of Suppliers Payment which through Bank Transfer (Local & Foreign) and checks
• Prepare the annually financial reports such as (Balance Sheet and Income Statement (Profit & Loss Statement) for each division and make the consolidation
• Making the initial financial analysis of the statements by using (Liquidity ratios and Profitability ratios), and submit the report to the finance director
• Prepare the monthly and annually Cash Flow budget
• Participate in the preparation of overall budget of the whole company and its subsidiaries (Annually and Quarterly(
• Prepare the annual operational budgets for Emirates Cut L.L.C such as (Sales budget, Production budget, and Raw Materials & Labor budgets)
• Prepare comparison report between actual Company performance against the budgeted performance and find out the variances and make recommendations to the management
• Prepare comparison report between actual Company expenses Vs Company Budget
• Finalize Auditing Requirements for Quarterly Balance sheets
• Costing of Import Purchased Materials, Conducting physical stock checks with main Store
• Prepare Aging report for Accounts Payable (Suppliers) & issue payments in due dates
• Supervision Monthly payroll processing with HR Department
• Supervision Monthly Accruals of expenses
• Supervision Monthly prepaid expenses adjustments
• Supervision Monthly statement of Depreciation
• Supervision Monthly Closing Month procedures with Subsidiaries Companies

• Managing and monitoring the day to day accounting operations, and work instructions.
• Responsible for monthly reports, financial cash flow, handling of existing and new projects of the company, the tenders departments and contracts, and financial analysis
• Reviewing the structure of the finance department to ensure maximum efficiency.
• Planning and supervising the preparation of monthly budgets and Financial Statements, and bank reconciliations
• Minimize all expenses, make risk assessment and present financial recommendations to the Management
• Arrange for the audit of the company’s accounts (internal) and providing the required reports and information to the auditors
• Responsible for accounts receivable and aging of customers
• Monitor letters of credit related to the consignments form SMC (Japan), Maruti (India), and Indomobil (Indonesia), and review all documents related to any shipments such as (bill of lading, invoice, and certificate of origin)
• Responsibility of Costing of Inventories.