About KHURSHID AHMED
Academic Level Master’s Degree
Age 48 - 52 Years
2010 - 2020
Sharjah National Travel & Tourist LLC
KEY RESPONSIBILTIES Financial management. Budgeting, forecasting and closing. Monthly MIS reports & consolidation of Financial statements. Credit control and risk management. Accounts payable management. Business control. Financial Management Responsible for management reports on monthly, quarterly and annually basis and report to Managing Director and Sr. Manager Finance. Responsible for standalone and consolidated financial reports, performance dashboard and ISO measurement report. Budgeting, Forecasting and Closing Preparation of budget, forecast and variance analysis report. Worked closely with senior management, providing insight on budgetary control and decision making Supervised monthly, quarterly and year-end closing process, including preparation of relevant journal entries and accruals. Preparation of fixed assets, prepayments and other schedules. Monthly MIS Reports Prepared and presented monthly MIS reports for Sale, Income & expense. Top customers’ turnover, department & branch wise sales and profitability report. Market share, monthly cash flow and working capital statement. Monthly UAE & KSA debtors’ ageing report analysis and presented to Group management. Monthly suppliers’ turnover and rebate analysis report. Ensured the revenue against rebate is in compliance with budget. Credit Control and Risk Management Managed AR team and led the credit functions across UAE & KSA. Diligent control over accounts receivable through weekly and monthly meeting with sales and collection team. Preparation and analysis of debtors’ ageing report based on business share ratio, high risk, low risk and non-risky customers to plan collection and action plan for overdue accounts. Credit applications analysis, credit rating arrangement of the new customers from credit bureau and market research to ensure credit worthiness before submission of credit applications to Credit Committee. Accounts Payable Management Ensured to achieve the strategic objectives. Established accounts payable KPIs to ensure strategic objectives are achieved. Suppliers’ analysis reports to head of business units for better rebate negotiations. Cost effective and efficient payment system. Enhanced accounts payable process and control. Creditors’ accounts reconciliation review and approval on monthly basis. Ensured pending and long outstanding issues are closed. AP ageing report and advance payments analysis on monthly basis. Foreign currency creditors’ balances revaluation and approval to record gain or loss effects. Business Control and Compliance Ensured capital expenditures are controlled and aligned with budget. Monitored and ensured operating expenses are aligned with budget. Monitored and analyzed department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy. ACCOMPLISHMENTS |Additional revenue| Working capital / ACP| Trade credit insurance| Reduced operational expenses| Financial software| Global consortium| Automation| Additional Revenue Successfully increased other revenue through suppliers’ rebate scheme, tracked unused services through e-tracker reports and claimed refunds from suppliers. Working Capital / ACP Established report of delinquent customers to monitor and collected overdue outstanding, result in improved ACP from over 70 days to 60 days which helped in increase in cash flow of the company. Trade Credit Insurance. Successfully implemented trade credit insurance for UAE customers. Reduced Operational Expenses Successfully reduced operational expenses. Bad debt expenses were reduced by 65% over the last 5 years. Implemented Etisalat NBUS Local & Int’l business plan and reduced Communication expenses by 25-30%. Financial Software Introduced enhanced ERP version for Global and consolidated reporting. Global Consortium Partnered in Implementing reporting tools such as ibank for Global clients. Successfully able to generate carbon emission report, cost savings, advance booking and more. Automation Successfully implemented Credit Card payment via e-link and eliminated manual payment procedure. Maintained e-record of suppliers’ and customers invoices. Implemented auto bank and major suppliers’ accounts reconciliation. Created daily division based KPI report for management
2006 - 2010
Sky Line Travel (Juma AL Majid Group-UAE).
Led the finance team responsible for financial reporting and managed the overall operations of accounting department. Debtors’ aging review, analysis and accounts reconciliation
2005 - 2006
Etihad National Travel & Tourism Co
Managed accounting entries, bank reconciliation, staff monthly payroll, fixed assets and other schedules.