Benny Anto Koovakkattil
Summary
A competent and result oriented professional with over total 27 years of extensive overseas and Indian experience in Cost Accounting and Financial Operations, inclusive of Statutory Compliance and new systems implementation, Internal Auditing, Budgeting, Logistics (Import and Export), Inventory Management with diverse industries, Product costing, Product pricing and Project Management. Proven analyst with skills in devising and implementing policies/ procedures for accomplishment of business goals in pre-set parameters. A keen analyst with exceptional relationship management & negotiation skills with proven abilities in liaising & monitoring with Banks for working capital and for new project financing. In-depth understanding of all phases of business and financial activity with diversified skill set and ability. Implementation of Product costing system to control and manage the cost for profit maximization in manufacturing company. Deftness in designing and implementing systems & procedures; supervising the consolidation of group accounts and preparation of financial statements & annual reports.
Overview
23
23
years of professional experience
1
1
Certification
Work History
Financial officer
Global Media Networking INC.
04.2021
- Legal formation and registration of the company
- Managing Bank Accounts and transactions
- Preparing and maintaining the accounts
- Filing Tax returns
- Interaction with Auditor
- Reporting to the Chairman and the Board of Directors.
Senior Accountant
VKC GROUP
09.2020 - 03.2021
- Maintaining and reconciling balance sheet and general ledger accounts
- Monitoring Bank Transaction, preparation on Bank Reconciliations
- Management of receivables and payables
- Preparation of Payroll – Bi-weekly, filing payroll taxes
- Sales tax Pre-payments and filing
- Monthly closing of accounts
- Preparation of financial reports to the management
- Assisting with Audit preparation
- Prepare documents for Internal Auditor
- Sage Accounting software is used to record transactions.
Manager Finance & Accounts
Emirates Macaroni Factory L.L.C
03.2009 - 06.2018
- Designing and implementing accounting systems & procedures; supervising the timely preparation of statutory books of accounts and finalization of year end statements
- Managing the preparation & maintenance of Accounting Systems & financial statements including P&L Account and Balance Sheet, ensuring conformance to time, accuracy, and statutory norms
- Month end and year end closing of books of accounts
- Analysing financial statements & preparing reports on performance of company, scrutinize the processes/procedural break downs in systems chain of operational divisions in the organization
- Handling financial matters including Working Capital Management, Ratio Analysis, and Capital Budgeting & Cash Flow Analysis
- Manage day-o-day accounting operations
- Monitoring the preparation and maintaining of statutory books of accounts viz, Journal Entries, Accounts and Bank Reconciliations, General Ledger, Cash Book and subsidiaries in compliance with time & accuracy norms and ensure that there is a redundant process backup in place for every critical operation
- Managing the Accounts Payable position for making timely payments to creditors and the Accounts Receivable position for receiving timely payments from debtors
- Supervising the preparation of MIS reports to provide feedback to top management on financial performance, viz
- Fund management, credit control, profitability, etc
- Fixed Asset Management track the location, condition, quantity, maintenance and depreciation status
- Cost Managements
- Cost control of purchase, production, selling and management expenses with proper controls
- Costing of finished goods and raw materials
- Implementation of Product Cost system
- Valuation and control of finished goods and raw materials.
Manager, Finance & Administration
Beauty Contact
07.2005 - 03.2009
- Day to day accounting and Finance matters
- Preparation of financial reports
- Finalisation of accounts, interaction with auditors
- Generation of various reports for management
- Administrative management of the office, staff and day to day office work
- Monitoring Bank Transaction, preparation on Bank Reconciliations
- Logistics (import and export), clearance of documents
- Management of receivables and payables
- Inventory Management
- Account's reconciliation
- Internal Auditing.
Accounts Manager
Adil Alhilal Est.
04.2003 - 08.2004
- Recording of all day-to-day accounting transactions
- Monitoring Bank Transaction and prepare Bank Reconciliation
- Follow up of Customers for payment
- Preparation of Quotations for Sales and Purchase
- Follow up the Suppliers
- Logistics clearance
- Computerization of accounts- Tally
- Preparation of budgets for Sales, Expense and Profit
- Comparison of budgetary allocation with the actual to find out the deviations and the reasons of variance to take corrective measures
- Preparation of Cash Flow Statement
- Accounts Reconciliation
- Finalisation of Accounts
- Generation of financial reports (monthly, quarterly and yearly) as and when required by the Management.
Assistant Manager-Costing
Itnoa Carina Products Ltd
06.2000 - 01.2003
- Collection and analysis of cost
- Allocation of cost product wise and overhead wise
- Preparation of cost statements and cost sheet
- Profitability analysis of each product
- Maintenance of cost records such as stores ledger, Production ledger, and sales ledger
- Preparation of budgets for production, sales (area wise and salesman wise), expense and profit
- Analysis of actual with the budget to find out variance if any from the budget
- Find out the reasons for variance
- Recommend to management necessary actions required
- Preparation of reports as and when required by the Management
- The company adopted Process Costing system to find out the cost of production.
Chief Accountant
Suliman Al-Othaim Jewellery Factory and Showrooms
08.1998 - 04.2000
- Maintaining financial accounts manually and computerised
- Finalisation of accounts of each showroom and group
- Monitoring bank transactions
- Interaction with the Auditors
- Preparation of budgets for each showroom regarding Sales (quantity and amount), for each salesman and profit for the showrooms and also for the group
- Analysis of budgets with the actual to find out the reasons for the variances and recommend management with the Solutions
- Computerization of showrooms and head office
- The company was using Gold Accounting Package called ACE
- Preparation of reports as when required by the management.
Education
Master of Arts - Accounting And Finance
University of Calicut
Kozhikode05.1993
Bachelor of Arts - Accounting
University of Calicut
Kozhikode05.1989
Skills
- Well versed with MS Office Conversant with Financial Accounting
- Financial Reporting
- Budget Development
- Accounting Principles
- Fiscal Management
- Operational Management
- Documentation Compliance
- Infrastructure Planning
- Quantitative Analysis
- Documentation Requirements
- Regulatory Requirements
- Strategic Planning
- Performance Metrics Analysis
- Regulatory Compliance
- Corporate Leadership
- Cash Flow Management
- Infrastructure Development
- Business Forecasting
- Reporting Expertise
- Program Leadership
- Financial Administration
- Strategic Financial Planning
- Operational Decision Making
- Accounting Principles Understanding
- Audit Coordination
- Financial Management
- Reporting Skills
- Cross-functional Team Leadership
- Financial Strategy Development
- Risk Management Proficiency
- Capital Raising Abilities
- Budgeting and Forecasting
- Corporate Governance Understanding
- Financial Policy Creation
- Working Capital Management
- ERP System Implementation
- Change Management Expertise
- Cost Reduction Strategies
- Profit and Loss Management
- Resource Utilization
- Performance Benchmarking
- Staff Management
- Business Administration
- Cross-Functional Collaboration
- Board Reporting
- Approachable Leader
Certification
- ACMA from ICWAI (India) in 1997 with Merit. Membership No.24204
- CMA from USA in 2009. Membership No.1154603
- CIMA and CGMA (UK) in 2017. Membership No.1-1K7CS3M
- Eligible to take the Uniform CPA examination
Academics
- M.Com from Calicut University (India) in 1993.
- B.Com. from Calicut University (India) in 1989.
Key Highlights
- Emirates Macaroni Factory: Cost control of production, purchase, sales and administration through proper planning and control. Implementation of New accounting software- Microsoft Dynamics AX. Capital raising for the Expansion project (Bank loan). Working Capital Management.
- Beauty Contact, Dubai: Inventory control through computerization – Peachtree accounting.
- Adil Alhilal Est, Jeddah, Saudi: Setting up computerized accounting system – Tally accounting.
- G.V Group: Cost control and over all control of each office and setting up targets for each division.
- Suliman Al-Othaim: Involved in Computerization of showrooms and head office through Gold Accounting Package called ACE.
Reading
Interested in reading religious books. News paper reading and other interesting books.
Timeline
Financial officer
Global Media Networking INC.
04.2021
Senior Accountant
VKC GROUP
09.2020 - 03.2021
Manager Finance & Accounts
Emirates Macaroni Factory L.L.C
03.2009 - 06.2018
Manager, Finance & Administration
Beauty Contact
07.2005 - 03.2009
Accounts Manager
Adil Alhilal Est.
04.2003 - 08.2004
Assistant Manager-Costing
Itnoa Carina Products Ltd
06.2000 - 01.2003
Chief Accountant
Suliman Al-Othaim Jewellery Factory and Showrooms
08.1998 - 04.2000
Master of Arts - Accounting And Finance
University of Calicut
Bachelor of Arts - Accounting
University of Calicut
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