Asad Syed

• Supervised day-to-day operations to meet performance, quality and service expectations.
• Preparation of notes to the financial statement, which includes detailed movement of fixed assets additions on cost & revaluation model.
• · Assisting in monthly closing process by ensuring all the transactions are posted timely and accurately, reconciling GL balances, preparing capital expenditure report (CAPEX), and performing its budget vs Actual analysis.
• · Preparation of monthly CWIP reports for the business unit pertaining to business (G.T.D) and monitoring it for open projects.
• Ensuring all capitalized items must have asset tag number and correct depreciation key.
• Preparing depreciation Schedules and analysis, preparing planed depreciation report on existing assets for forecast & breakup of it based on profit centers/ cost centers, providing monthly depreciation reports based on the business area/plant wise to distribution and regulatory affairs, calculating & recoding of revaluation surplus/impairment loss on leasehold land, plant & machinery. Providing an aging report of assets classified as held for sale.
• Maintaining and monitoring of fixed asset register, ensuring all transactions are posted accurately and timely (additions, retirements, transfers, Write-off, etc.), processing of asset allocations /buybacks for laptops and vehicles, posting of JV’s, Suspense account clearing, GL accounts reconciliations and calculating / posting of depreciation to respective asset classes, etc.
• Managing a system of internal controls and procedures for the identification and accurate recording of fixed assets, ensuring that policies and procedures are in place and documented to provide reasonable assurance that the company assets are protected and coordinating with internal and external auditors.
• Conducting regular meetings with departments and other stake holder on periodic basis on update of ongoing projects and obtaining completion certificates for capitalization.

Worked as Sr. Commerical officer Business Finance

Inventory Management, Accounts Payables and Budgeting & Controlling

• Preparation & analysis of annual CAPEX and REVEX budget of departments, its approval from upper management and its subsequent monitoring and controlling.
• Ensuring commercial and financial compliance of annual contracts and Purchase Orders. Monitoring of departments’ expense report and GL positions for error free financial reporting which is in compliance with accounting standards.
• Monitor and close old outstanding open purchase orders and ensure timely settlement of employee and vendor advances.
• Constant checking of projects consumption within approved budget and take appropriate measures if project gets off track. Ensuring compliance of required documents as per company policy.
• Suggesting Automations to ease the operations and implement system changes suggested by regulatory authorities.
• Prepare the inventory physical verification plan for the year. Payment processing for all cases and maintaining record till settlement

Procurement Related:

• Verification and allocation of budget for Purchase Requisitions according to nature and their needs.
• Validation of correct release strategy in SAP and approvals of PR and POs according to company policies.
• Confirmations of budget consumptions and to negotiate needs as per the budget retained by user.
• Responsible for creating Purchase requisition, Purchase Orders and price schedules according to company policies.
• Verifications of Purchase Approval Summary, Vendor quotation and selection of technical sound and financial efficient vendors according to company policies.
• Recording of Delivery of Goods and Services in SAP ERP for timely recording of expenses and financial activities.
• Processing of Invoice receipt and payment vouchers for vendors as per company policy and rules.
• Correct recording of Asset & Expense type invoices as per company policies.
• Analyzing commercial benefits of upcoming Projects and supports business to select best possible options and conducting in depth analysis through historic trends to evaluate financial benefit.
• Contract Management (By Streamlining procurement process, Optimizing Vendor management & SLA, Eliminating Manual process. Monitoring & managing expenses & terms, Audit & reporting).

• Prepared monthly reconciliation of bank accounts and took corrective actions on deviations.
• Ensured compliance with all relevant regulations, maintaining accurate records of financial transactions and reporting requirements.
• Preparation of Financial Statements along with bookkeeping and bank reconciliation