Accounting Accountant

Sainath Akula

Finance & Taxation Professional

Mobile: +971-***-***-***

E-Mail: ***.*******@*****.***

PROFILE SUMMARY

• Result-driven, Agile & Competent Finance

and Taxation professional with 11+ years of

experience in VAT, Accounting, Leasing,

Treasury, Budgeting and Reporting.

• Substantial knowledge in handling wide

range of indirect tax, general accounting

and finance management functions

covering VAT, customs, excise tax, AP/AR,

P/L, bank transactions, reconciliation,

maintenance of book of accounts, ledgers,

help in financial statement preparation and

MIS reporting.

• Proactive team player with high analytical

and problem-solving aptitude and

excellent organizational, communication

and interpersonal skills.

WORK EXPERIENCE

Accounts Officer – Management Accounting & Taxation, Meydan Group L.L.C Aug 2018 – Present Meydan Group is the visionary concept of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. Taxation – Value Added Tax (VAT)

• Managing all the indirect tax matters relating to VAT for the corporate office and support all the group entities on VAT technical matters;

• Responsible for preparing, reviewing and submitting the VAT returns for 13 group entities with monthly and quarterly VAT return filling cycles.

• Liaising with the FTA to provide all the relevant information for VAT refund related matters and successfully obtained substantial refund amount

• Preparing input tax apportionment workings on a monthly basis by identifying the directly attributable expenses towards exempt and taxable supplies.

• Coordinating with IT Team for system changes and improvements relating to VAT treatments.

• Regularly communicating with tax advisors & obtain their advice on complex matters relating to VAT.

• Assisting the management in maintaining the accuracy and integrity of VAT reporting, review and identify improvements to internal processes

• Streamlining the processes to comply with VAT regulations.

• Regularly address VAT related queries and provide guidance to the Finance teams of the various entities in the group on VAT implications for such transactions.

• Ensuring VAT payments on a timely basis, ensuring fund availability by liaising with the treasury team for VAT payments.

STRENGTHS

Competent in Finance &

Taxation

Excellent at Multitasking

& Meeting Strict

Deadlines

Experienced in

Commercial Leasing

Strong Analytical Skills

Attention for Details

Performs Efficiently Under

Work Pressure

• Ensure correct posting of all VAT related journal entries, debit/credit notes with regard to VAT return filling & issue Debit/Credit notes to group entities thereby meeting the VAT record keeping requirements.

• Reviewing the VAT clauses in contracts/agreements relating to new projects.

• Compiling all VAT registration documentation & assisting in submitting the applications to the authority after obtaining necessary management approvals.

• Circulating the FTA updates, clarifications across the group and ensuring the same is applied on a day to day basis.

• Ensuring that the FTA portal is regularly updated by monitoring the expiry of VAT registration documents such as trade licenses, representative passport/EID, obtaining the renewed documents & submitting to manager for timely.

• Preparing the M.I.S reports on VAT for Management’s approval on a monthly basis.

Accountant & Lease Coordination, Landmark International L.L.C Nov 2012 – Aug 2018

(A Division of Landmark Group) U.A.E.

One of the biggest and most successful retail and hospitality conglomerates in MENA, India & South-East Asia with over 50 home-grown and franchise brands

Accounts and Finance

• Handling Accounts Receivable and Accounts Payable from end to end.

• Inter-Company Reconciliations and data analytics.

• Reconciliations of other GL’s accounts.

• Handling of Fixed Assets.

• Treasury Activities such as remittance transfer and vendor payments along with PDC and cash flow details.

• Preparation of financial reports and the reporting pack.

• Participate in preparation of Annual Budgets and monthly forecast MIS and Budgeting

• Actively involved in preparation of monthly M.I.S and its Analysis.

• Month-end P&L, closure of the accounts books, including required reconciliations and their submission as per strict timelines

• Commentary on differences and escalating key items to management.

• Preparation of TFAR (Territory Finance Assurance report) for review by Finance Head and submission to corporate.

• Monitor accrual and provisions with all clearing accounts

• Liaising and participating in internal and external Audits.

• Preparing Rent, FA and other required schedules for external audit. Leasing

• Handling of Retail Leasing of LMI stores across UAE.

• Actively involved in retail property Lease renewals, Amendments, legal comments and approval notes, up to finalization and signing of leases.

• Preparation of various leasing-related reports such as lease progress and performance updates, feasibilities, P&L, offers/lease contracts and renewals sheet, stores for action sheet, rent increment, rebate and savings sheet, rent to sales report, rent comparison sheet, etc. necessary for review’s.

• Liaising with Mall Managements for all Operations related issues like audits sales, Trade License and affiliate collection on deposits.

• Interacting and maintaining cordial relations within landlords, mall management and other external clients within professional capacity. ACCOMPLISHMENTS

• Was a key factor in successful migration of Daily Accounting activities to the out-sourced third party

• Implemented lean ideas in the process development for reducing the time work frame.

• Successfully completed UAT on VAT Application.

• Successfully completed UAT and implementation of Cloud Accounting Software.

GENPACT Infrastructure India Ltd., (M.N.C) Sep 2009- Aug 2012 Job Role: (Process Developer) - Accounts Receivable Genpact is a global professional services firm that makes business transformation real in BPO industry spread across 20 countries.

• Worked on Major Client Accounts of Nissan Automobile Motor Company.

• Processing of cash application like wire and checks payments in SAP.

• Verifying the remittance from Bank of America (BOA) and J.P Morgan bank on daily bases.

• Clearing of Bank G/L’s & preparing vehicle aging report.

• Maintaining of Customer Master Profiles.

• Non- Cash Settlements & Affiliates collections.

• Accruals Entries and G/L Reconciliations.

• Billing invoices and creating credit memos and intercompany billings. QUALIFICATIONS

Certified Management Accountant

(CMA)

2019-Present

VAT Compliance Diploma – UAE Association of Taxation Technicians- (ATT), UK 2019 Masters of Business Administration Accounting and Financial Management- Osmania University, India

2009

Bachelors of Commerce Accounting, Economics and Statistics - Osmania University, India

2007

TECHNICAL

• SAP & Tally ERP System

• COGNOS IBM for Budgeting Pack

• Oracle Apps (Accounting & Finance Tools)

ACHIEVEMENTS

• Awarded best employee of the year for the implementation of Lean ideas in process.

• Star Performer award at GENPACT India Ltd.

• Member of the winning team for the best Budget presentation. PERSONAL DETAILS

Nationality : Indian

Date of Birth : 15th June 1986

Marital Status : Married

Visa Status : Work Visa

License : Valid U.A.E. Driving License

Languages : English, Hindi, Telugu and Arabic

REFERENCES

Available upon request.

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