Oracle ERP
SAMI ELAMROSY
Finance Manager
Kuwait City,KU
Summary
Highly qualified professional over 24 years of experience in leading and developing a successful finance team. Skilled in numerous financial and accounting fields, including: preparing Consolidated Financial statements and annual budgets, monitoring key accounts, following company policies and labor Laws. Advanced computer literate in multiple operating systems (Oracle financial E Business suite), software applications MS office, with up to date knowledge in changes in International Financial Reporting Standards IFRS and technology.
Overview
24
24
years of professional experience
3
3
years of post-secondary education
12
12
Certifications
2
2
Languages
Work History
Finance Manager
First Qatar Real Estate Development (Hilton Pearl Doha Owner)
Kuwait
09.2008 - Current
- Understanding and addressing impacts of new IFRS.
- Prepared internal and regulatory financial reports, balance sheets and income statements.
- Create and complied with established internal controls and policies.
- Identified improvement changes regarding key processes for internal controls and accounting procedures.
- Implemented cost control procedures and cost management processes in company project.
- Established and checked coding procedures, monitored reports and updated internal files for fixed assets.
- Performed routine closings, maintained clean, accurate and accessible records and kept close eye on transaction updates throughout each quarter.
- Validated existing accounting management and reporting systems to assess quality and conformance, identify problems and implement corrective actions.
- Established and enforced internal controls, workflows and policies for tracking, reconciling and reporting on accounting activities.
- Prepared cash flow projections, cost analysis and monthly, quarterly and annual reports.
- Performed spending analysis and partnerships to refine policies and develop recommendations for improvement.
- Kept up-to-date and accurate funding accounts for internal departments, key programs and special projects.
- Reviewed historical records, current operational data and forecasting information to identify and capitalize on system enhancement opportunities.
- Developed strategic plans for day-to-day financial operations.
- Improved overall financial reporting by streamlining control processes and reporting structures.
- Proposed and published KPIs to be incorporated into monthly financials and scorecards.
- Optimized employee performance, output and morale through development of enticing incentive programs.
- Organized budget documentation and tracked expenses to maintain tight business controls.
Chief Accountant
Refrigeration Industries and Storage company (RISCO)
Kuwait
07.2006 - 08.2008
- Set up and improved accounting systems and processes to meet business needs and maximize operational success.
- Performed advanced reviews of business operational trends and expected obligations to prepare accurate forecasts.
- Partnered with auditors on annual audits and realized compliance with governmental .
- Assisted team members in transitioning to Oracle through extensive training and one-on-one support.
- Completed biweekly payroll and maintained employee records.
- Reconciled balance sheets and streamlined best practices for balance sheet processes.
- Drafted variance reports, regulatory filings and related schedules.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Completed year-end closing processes with controllers and external auditors.
- Enhanced budget administration by reviewing reports, leveraging knowledge to strengthen controls and improve transparency.
- Prepared accounts for industry audits and supported audit process.
- Handled month-end and year-end end finances by managing and reporting fixed assets and other data.
- Analyzed financial audit information and made recommendations to improve efficiencies.
- Tracked and documented all expenses.
- Reviewed budgets, capital appropriations and operating budgets, and communicated findings to senior management.
Chief Accountant
Green Wing Group of Companies
Kuwait
04.2003 - 07.2006
- Supervise and allocate work to the staff in the Accounting
Departments of the group. - Monitor and approve cash and bank transactions for the group.
- Work with the purchasing department in costing and pricing sheets.
- Supervise and monitor the month end inventory count and investigate reasons for variances.
- Set up the plan for yearly and quarterly stock count & adjust the
discrepancy. - Responsible to ensure that liabilities are paid on time and receivables are timely collected for the group.
- Performing certain tasks for account’s closing at the end of each
month. - Review of monthly & yearly Trial balance for the group.
- Preparation of financial report and certain reports required by
managers. - Preparation of daily reports (outstanding payment – sales).
- Assess the accountants in the accounting department of the group
- Coordinate with accounting application consultant for developing
the oracle system retail pro system, etc. - Setting up accounting procedures.
- Choose new accountants, define their job descriptions, give them
proper training to use oracle financial. - Organize the timely completion of external audit and Co-ordination
with both the Company’s Internal and External Auditors. - Co-ordinate, Distribute and Consolidate Budgets and Forecasts.
- Matching with Actual vs. Budget Amount.
- Discuss with all departments the variance between Actual vs. Budget.
Senior Cost Accountant
Pharaonia Pharmaceutical Company
Egypt
12.1999 - 04.2002
- Developed and implemented effective accounting systems.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Assisted with month-end closing procedures, journal entry review, balance sheet analysis and monthly management report preparation.
- Predicted, planned and recorded costs of raw materials, labor and operation.
- Performed financial reporting, trend analysis and process improvement support.
- Designed monthly and annual budgets design, labor and manufacturing.
- Conducted product inventories for clients' products and translated findings into detailed financial reports.
- Calculated labor and overhead rates, annually updating costs.
- Monitored cost standard performance to confirm that costs met budget cost parameters.
- Worked with management at project level to achieve expense plans.
- Cooperated with senior leaders to create operating budgets and initiate financial planning.
Accountant Supervisor
Egyptian Household and Electrical Company
Egypt
07.1997 - 12.1999
- Developed and implemented effective accounting systems.
- Set up and improved accounting systems and processes to meet business needs and maximize operational success.
- Enhanced budget administration by reviewing reports, leveraging knowledge to strengthen controls and improve transparency.
- Reviewed budgets, capital appropriations and operating budgets, and communicated findings to senior management.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Evaluated and improved accuracy and completeness of financial records.
- Drafted variance reports, regulatory filings and related schedules.
Education
Bachelor of Science - Accounting And Finance
Alexandria University
Egypt 09.1994 - 06.1997
Skills
Skilled in (Oracle ERP)
Reporting familiarity
Process implementation
Financial analysis and reporting
Budget forecasting
Cost control and reduction
Cash handling expertise
Strategic and financial planning
Accomplishments
- Achieved fixed assets company tracking system with consultant by introducing following tasks.
- Successfully implemented financial software (Oracle system), which is more efficient than the one already being followed within three months, included with design business process cycles and their related setups, the accounting structure and chart of accounts which is applicable for company field.
- Implemented an effective cash flow system, by follow up cash day-by-day in bank and comparing with forecasting cash flow and improving in DSO and DPO by change in company customer collection credit policy to be in line with suppliers' payment credit policy to avoid the short of cash. for example, decreased the time it took to collecting the rental receivables by 30% more efficient due to revised rental receivable policy.
- Applied IFRS 16 new treatment of Lease contract with create controlling sheet to follow-up discount present value for right of use, lease liability and monthly interest and monthly amortized. · Applied IFRS9 Financial Instruments new classification for investment portfolio Fair Value through Profit Loss (FVTPL) and FV through OCI. · Decreased the time it took to issue the staff payroll by one day due to implemented system through excel sheet more effective, included leave & indemnity due balances and all other related HR format, employee performance.
- During RISCO time increased the profit of the year by 38% due to result of extinguishing some of the provisions are not reviewed from longtime.
- During RISCO time increased the company receivable collection by 45% due to reviewed and collected old receivable balances from old projects was not collected by gave more discount to pay early and re-discussed with customer collection Dept.
- During RISCO time Successfully reimplemented financial software Oracle ERP system, Supply chain and inventory, included design business process cycles and their related setups on the system, the accounting structure and chart of accounts within 5 Month.
- During Anotha time Decreased the cost of bags by 45 % due to negotiation and changing with new material.
· Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets.
· Recommend to management any updates to accounting policies related to fixed assets.
· Assign tag numbers to fixed assets (in co-ordination with Projects team).
· Record fixed asset acquisitions and dispositions in the accounting system.
· Track open purchase order, and ensure the same is closed in co-ordination with respective departments.
· Track the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed.
· Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.
· Review and update the detailed schedule of fixed assets and accumulated depreciation.
· Calculate asset retirement obligations for those fixed assets to which AROs (Asset retirement obligation) are applicable.
· Conduct periodic impairment reviews for intangible assets.
· Ensure periodic physical counts of fixed assets done by projects teams are updated in system with proper approvals.
· Conduct analyses related to fixed assets as requested by management.
· Prepare audit schedules relating to fixed assets and assist the auditors in their inquiries.
Software
Advanced & professional in Excel
Advanced & professional in & Power point
Certification
Udemy and 365 Career Instructor Course Financial Analyst
Additional Information
Date of Birth : 26 Feb, 1975
Nationality : Egyptian
Gender : Male
Military Status : Completed
Visa Status : Transferable
Driving License : Valid
Marital Status : Married
Timeline
Udemy and 365 Career Instructor Course Financial Analyst
07-2021
Udemy and 365 Career Instructor Course Financial Modeling Build a DCF Model
08-2020
E&Y Ernst and Young a course study in "IFRS Update Seminar "
05-2019
E&Y Ernst and Young a course study in "IFRS Update Seminar "
05-2018
E&Y Ernst and Young a course study in "IFRS Update Seminar " May
12-2016
E&Y Ernst and Young a course study in "IFRS Update Seminar " May
03-2014
The George Washington University a course study in Certificate in Real Estate Modelling
05-2011
International Academy of Financial Management a course study in CRA™- Certified Risk Analyst
11-2010
Finance Manager
First Qatar Real Estate Development (Hilton Pearl Doha Owner)
09.2008 - Current
Global Consultants a course study in CMA (Certified Managerial Accountant).
06-2007
Chief Accountant
Refrigeration Industries and Storage company (RISCO)
07.2006 - 08.2008
Hyperlink Consultants Implementation of oracle application “Multi Org Architecture Setup”.
06-2006
Arabian construction company Implementation of oracle applications AP, AR, CM, FA and GL.
10-2005
KPMG Hazem Hassan Management consulting Implementation of oracle application.
09-2003
Chief Accountant
Green Wing Group of Companies
04.2003 - 07.2006
Senior Cost Accountant
Pharaonia Pharmaceutical Company
12.1999 - 04.2002
Accountant Supervisor
Egyptian Household and Electrical Company
07.1997 - 12.1999
Bachelor of Science - Accounting And Finance
Alexandria University
09.1994 - 06.1997