MS Dynamics AX 2012
Moamen Sedik
Chief Accountant
Dammam
Summary
As the Chief Accountant at Dammam Shipyard, the day-to-day finance and accounts operations of one of the largest ship repair facilities in the Middle East are overseen by this role. With over 16 years of experience in the industry, strong skills in financial statement preparation, variance analysis, reporting, cash flow forecasting, VAT, WHT, and ERP systems have been developed. Delivering accurate, timely, and reliable financial information to support key managerial decisions and strategic planning is a passion. Compliance with accounting standards, tax regulations, and internal controls is also ensured. Multiple external audits, budget preparations, and financial presentations have been successfully managed. Learning new technologies and best practices to enhance performance and efficiency is always a priority.
Overview
16
16
years of professional experience
2
2
Languages
Work History
Chief Accountant
Dammam Shipyard ABIC co.
Dammam, 04
06.2021 - Current
- Responsible for day to day finance and accounts operations
- Review, approve & post all journal entries prepared by accounting staff
- Perform full set of accounts and ensure timely closing of accounts
- Ensure Monthly ledger & sub-ledger reconciliation
- Review and approve monthly closing check list
- Producing monthly financial statement
- Prepare monthly MIS and variance analysis
- Prepared Monthly financial presentation to MD& HQ
- Review and approve online bank remittances
- Review monthly VAT & WHT reports
- Preparing annual Zakat assessment
- Review employees payable (salaries, PL, EOS)
- Preparing annual budget and cash flow
- Maintain internal control and effective accounting system and policies for set up.
- Consultative with respective departments on cost reduction initiatives
- Manage IKTVA audit process
- Managing cash flow through producing monthly cash flow forecast
- Identify any training and development requirements within Accounting Section and ensure that these are met
- Interpret legislative and regulatory requirements where necessary and ensure any resulting amendments to processes or procedures are implemented.
- Carry out any other duties that are within scope and grading of post which could also be requested by line manager or Head of Service
- Managing, reviewing and providing all requested information for Carve out & due diligence process to the consultancy.
- Set up and improved accounting systems and processes to meet business needs and maximize operational success
- Reviewed business operations and obligations to help organization function at acceptable level
- Prepared accounts for industry audits and supported audit process (Big 4).
- Completed year-end closing processes with controllers and external auditors
- Developed and implemented effective accounting systems
Senior Accountant
Dammam Shipyard ABIC co.
04.2013 - 05.2021
- Producing monthly financial statement (P&L, Balance sheet & Cashflow)
- Performing monthly P&L variance analysis (YOY, Budget) to support key financial & operational decisions
- Preparing monthly VAT & withholding tax reports
- Reviewing and approved procurement purchase orders before final approval to assure it is mapped to GL correctly and complied with procurement policy
- Checking and reconciled accrued and prepaid expense balances
- Checking and reconciling ledger & sub ledgers (vendors, clients, & PPE)
- Assisting in annual budget preparation
- Managing annual external audit process (E&Y)
- Preparing annual IKTVA external audit process for group of sister companies (RSM)
- Supervising new ERP (AX 2012) implementation at 2016
- Training new accountants (AP, inventory, GL) procedures and transactions
- Reconciling inter-company balances
- Supporting in AP/AR functions in absence of Accountants
- Assisted sister company to implement Microsoft Dynamics AX 2012 ERP program at end of 2016
- As requested by Group CEO
- Assigned by GROUP CFO to review sister company documentary cycle of stock and supplier accounts.
- Implementing fixed assets Acquisition, Transfer, Disposal cycle and implemented fixed assets tagging which was not available before
- Reviewing fixed assets ledger & sub ledger accounts that allowed to discover variances to understated depreciation expenses and did necessary adjusting entries
- Organizing company's participation in marketing exhibitions in UAE (ABU DHABI and Dubai)
- (like (EDIX - NAVDEX).
General Accountant
Jeddah Shipyard, ABG Group
05.2008 - 03.2013
- Recorded different types of accounting daily entries (purchases, sales, provisions cash, bank)
- Prepared and recorded monthly accrued revenues according to the percentage of work of completion
- Recorded monthly accrued expenses & required adjustment for prepaid expense
- Prepared financial statement (Income statement, Balance sheet, cash flow statement)
- Prepared monthly expense analysis and submit a report to finance manager about the main changes in the expenses
- Prepared budget forecasts
- Reconcile accounts payable and receivable and Computed taxes and prepare tax returns
- Managed balance sheets and profit/loss statements
- Report on the company's financial health and liquidity
- Checked and recorded sales invoices after complying with proper documents
- Followed up and pushed clients to pay the overdues in timely manner
- Checked and recorded vendor's invoices
- Created vendor's payment
- Checked and closed vendor advances balances
- Recorded inventory movement transactions
- Prepared Semi Annual stock counting, prepared necessary adjusting Entries.
Junior Auditor
ZAKARIA CHARTERED Accountant
01.2008 - 04.2008
- Assisted in auditing process for more than 20 companies in different business fields at Egypt (Alexandria & Cairo)
- Prepared monthly sales tax return & annual tax return for different establishments & companies
- Submitted monthly sales tax report to tax authority with payment as well
- Submitted annual income tax for companies and corporations to tax authority.
- Performed observations and evaluated supporting documents to supplement audit findings
Education
Bachelor's Degree in Accounting - English Section
Alexandria University
ALexandria,Egypt 06.2007 - 06.2007
Skills
Microsoft Office Excel PowerPoint Wordundefined
Accomplishments
- Key person in Implementing new ERP system ( AX MS Dynamic)
- Negotiated with vendors for discount which save more than 15% of the cost
Professional Development
- IFRS Dip course , Finance coach
- CMA Course, Morgan International
- Become a Financial Analyst, LinkedIn Learning
- Corporate Financial Statement Analysis, LinkedIn Learning
- Financial Modeling and Forecasting Financial Statements, LinkedIn Learning
- Analyzing and Visualizing Cash Flows, LinkedIn Learning
- Financial Modeling Foundations, LinkedIn Learning
- Running a Profitable Business, Understanding Financial Ratios, LinkedIn Learning
- Accounting Fundamentals, Corporate Finance Institute (CFI)
- Data Visualization in Excel, Udemy
Personal Information
Date of Birth: 04/1985
Software
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Chief Accountant
Dammam Shipyard ABIC co.
06.2021 - Current
Senior Accountant
Dammam Shipyard ABIC co.
04.2013 - 05.2021
General Accountant
Jeddah Shipyard, ABG Group
05.2008 - 03.2013
Junior Auditor
ZAKARIA CHARTERED Accountant
01.2008 - 04.2008
Bachelor's Degree in Accounting - English Section
Alexandria University
06.2007 - 06.2007
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