Chief Accountant

Location:

Dar es Salaam, Tanzania

Salary:

2500 usd

Posted:

November 02, 2021

Contact this candidate

Resume:

Benisters Isaac Kamunzyu

P.O. Box ****, Dar es Salaam,Tanzania +254-***-***-*** +255********* Email ********@*****.*** Career Profile

Accounting and finance professional with C.P.A. (K) qualifications and experience working in the retail and wholesale hardware and manufacturing industries.

Expertise in auditing, preparing and recommending policies and procedures, financial reporting and project management.

Ability to offer deep insight while providing financial reporting and risk analysis support in order improve visibility.

Key Skills

Computer Skills, SAP, Tally and Ms Office.

Financial Analysis and Reporting.

Accounting.

Auditing

General Ledger and Journal Entries

Analysis.

Budgeting.

Bookkeeping.

Financial Management.

Educational Background

Masters of Business Administration, Finance, Jomo Kenyatta University of Agriculture and Technology, 2016 - 2019.

Bachelor of Business Management, Accounting, Moi University, 2014 – 2015. Certified Public Accountant C.P.A. (K), KASNEB, 2005 - 2013. Diploma in Business Administration, Mombasa Technical Training Institute, 1993 - 1995. Kenya Certificate of Secondary Education, Matinyani Secondary School, 1988 - 1991. Professional Experience

Chief Accountant, June 2021 to Date

Gulled Investment Limited (Dar Es Salaam Tanzania)-(Group of Companies)

• Provide accounting technical support to the business on proposed ventures and impact assessments of new financial reporting standards;

• Ensuring compliance with IFRS standards;

• Report on the company’s financial health and liquidity;

• Preparation of monthly management accounts for various entities within the Group;

• Develop and undertake internal audits of companies within the group to ensure compliance with group policies;

• Project accounting including financial analysis;

• Maintain statutory registers and tax authorities reporting requirements;

• WIP and stock accounting;

• Responsible for the production of the financial statements for the Group Annual Report and interim report;

• Responsible for managing the external audit;

• Involved with developing system infrastructure (consolidation of VIE, mapping of COA, BSR reconciliations, group consolidation);

• Provide additional general support and complete ad-hoc tasks as required by the Group

• Communicate effectively with the Group Controller, CFO and other team members to enable timely integration of acquisitions and strong group controls;

• Prepare cash-flow forecasts to ensure cash is managed efficient and effectively and manage working capital.

• Attend any financial and administrative duty assigned. Key Achievements:

• Facilitated change from Tally system to Sage evolution.

• Managed to set up internal control measures which led to completely no loss claim

• Improved client relationships by putting systems and resources in place to enable the organization respond to queries and complaints in less than 24-hours.

• Analyzed the company's expenditure and benefits and was able to save 10% of the company’s budget.

• Monitored imprest transactions by carrying out monthly cash verification procedures

• Reduced paperwork by 65 % by converting all accounting procedures to an electronic form (Sage). Senior Accountant, September 2020 to May 2021

Kencos Hardware and Electrical ltd, Mombasa Kenya - Retail and wholesale hardware industry

• Payroll preparation and statutory remittance

• Preparation of managements reports and Maintenance of Fixed assets reports

• Verify accounting journals and General ledgers and other financial records.

• Review of financial procedures and policies in line with the regulations

• Coordinate monthly cash book and bank, Debtors and creditors reconciliations

• Prepare and analyze income statement and balance sheet schedules for annual audit

• Ensuring Accuracy in billing and suppliers’ payments

• Frequent training of accountants and interns to ensure they comply with IFRS and GAAP.

• Implementing internal control systems

• Responsible for cash management, accounts receivable and processing credit notes

• Passing month end journal entries, Preparing P&L statements, reconcile accruals and prepaid accounts

• Assist in auditing activities by providing necessary information and documentation.

• Attend any financial and administrative duty assigned. Key Achievements:

• Facilitated change from Manual to Tally system.

• Managed to set up internal control measures which led to completely no loss claim

• Managed to reduce purchasing cost by about 15% due to direct purchase from manufacturer and negotiating on volume discounts.

Chief Accountant / Personnel Officer, August 2012 - August 2020. Megha Marketing (EA) Ltd, Mombasa Kenya - Retail and wholesale hardware industry

Payroll preparation and statutory remittance

Managed month-end accounting activities such as reconciliations and journal entries.

Coordinated with the finance team to complete assigned accounting tasks within deadlines.

Evaluated computerized accounting systems and provided recommendations to the IT team for performance improvements.

Prepared and presented financial reports and statements to management.

Analyzed financial discrepancies and recommended effective resolutions.

Monitored expenditures and revenues, determined budget variances and reported to management.

Responded to accounting inquiries from management in a timely fashion.

Supervised and mentored other accountants when needed.

Assisted in budget preparation and expense management activities for assigned accounts.

Assisted in auditing activities by providing necessary information and documentation.

Monitored and recorded financial transactions according to company policies and regulations.

Reviewed and recommended changes to existing accounting procedures. Achievements

Effectively managed a team of 5 Accountants and interns ensuring all deadlines were met.

Was able to reduce overall business expenditure by 12%, saving the company Kshs.0.4B a year. By collaborating with the senior managers of all departments to analysis budget shortcomings and make improvements

Developed new and complex spreadsheets which helped in the production of the monthly management reports much quicker.

Recommended and implemented SAP improving efficiency and enabling the department spend more time on generating more accurate financial and accounting data.

Analyzed client portfolios using MS Access and was able to identify lower-performing accounts. Using this data, I was able to improve these accounts, increasing average client revenue by 16%. Total revenue increased from 2.85B to 3.31B.

Improved client relationships by putting systems and resources in place to enable the organisation respond to queries and complaints in less than 24-hours.

Was voted ‘accountant of the month’ on multiple occasions and nominated for an ‘Accounting Excellence Award’ by my colleagues.

Was able to advance my education level up to the MBA Finance option and CPA (K) within a few years while at this company.

Senior Accountant, January 2009 - July 2012.

Cook ‘N Lite Ltd, Mombasa Kenya – Manufacturing industry

Managed schedules and files for statutory deductions.

Ensured statutory payments such as withholding tax, withholding V.A.T, HELB, NSSF, NHIF, NITA were paid and ensured compliance with regulatory bodies.

Ensured bank reconciliations were carried out and all accounts updated

Monitored imprest transactions by carrying out monthly cash verification procedures

Maintained an updated filing system and ensured posting of all transactions.

Maintained and monitored a monthly creditor aged analysis.

Maintained proper and appropriate filing of electronic and hard copies of all documents and reports.

Prepared monthly reconciliations of balance sheet items with all necessary supporting documentation

Coordinated internal and external auditing processes.

Prepared payment requisitions and relevant documents and processed payments.

Maintained payable schedules and records of all invoices received from vendors and service providers.

Supervised junior accountants and monitored their work daily.

Assisted junior accountants in preparing month-end reports and monthly bank reconciliations. Achievements

Implemented a general ledger and journal entries analysis system that enhanced accuracy of reports.

Developed procedures for new accounting conversion software that was used by other departments to streamline general ledger reconciliations and saved 5 hours a week in staff hours.

Introduced a bonus system for extra production done hence reducing labour cost by 10%.

Analyzed the company's expenditure and benefits and was able to shave 10% off the company’s budget.

Introduced an octopus accounting system, which resulted in increased efficiency in accounting controls.

Reduced paperwork by 65 % by converting all accounting procedures to an electronic form (octopus).

Reconciled a Mabati rolling company’s (Sisters company) statement within 2 days, which had been stuck in limbo for six months.

Seamlessly provided profit and loss statements without a single miss between the years 2005 and 2011.

Promoted from Accountant to Senior Accountant within the same company. Other Relevant Experience

Accountant, Cook ‘N Lite Ltd, January 2007 - December 2008. Quality Assurance Coordinator, Cook ‘N Lite Ltd, January 2005 – December 2006. Training and Workshop

Branch Annual Tax Workshop, Bliss Resort Nyali, Mombasa, Kenya, November 2018.

Certificate in Bureau Veritas Training, ISO 9000 QMS Internal Auditors Course, Cook ‘N Lite Ltd., Mombasa, September 2006.

Seminars and Conferences

Taxation for Oil, Gas, and Mining Companies, Mombasa Kenya, August 2020.

ICPAK’S Annual Seminar, Sarova White Sands Beach Resort, Mombasa, Kenya, May 2020.

Annual Regional Tax Seminar Mombasa, Flamingo by Pride Inn, Mombasa, Kenya, December 2019. Membership/Affiliations

Member of ICPAK, Member No 26421.

Referees

Jeegar Shah,

Director,

Megha Marketing EA Ltd,Msa

P.O. Box 802**-*****,