Finance Director - Controller - Cost Accountant

ARVIND BHAKTA

**** **** *****, ********, ** ***** ******.*******@*****.*** Phone:424-***-****

Finance Director • Controller • Cost Accountant

A goal-oriented Accounting/Finance professional with extensive CPG, food/beverage and industrial manufacturing & distribution experience. Additionally, highly experienced working with growing start-up and PE/VC funded companies. Effective hands-on leader in building highly skilled & efficient accounting/finance teams, and technologically automating accounting & inventory processes to ultimately increase trackability, operational profitability, and scalability. Demonstrated track record of leading the preparation and analysis of financial reports to summarize and forecast financial position. Proven expertise in driving efficiency and productivity through evaluation of financial management systems and implementation of process improvements. In depth knowledge with evaluation and implementation of ERP/ Accounting systems including Lawson, Syspro, Fishbowl, NetSuite, Sage Intacct and QuickBooks Enterprise. Core Competencies:

● Accounting Management

● Financial Reporting & Analysis

● Forecasting & Budgeting & Planning

● Inventory Management/Analysis

● Cash Management

● Cost Reductions

● Payroll Management

● AR & AP Management

● Operations Management

● Efficiency Improvements

● Technology Integration

● Investor/Board Reporting

CAREER EXPERIENCE

American Botanical Pharmacy, Marina Del Rey, CA 03/2023 – Present American Botanical Pharmacy is a Plant based Health and Wellness products Manufacturer and Distribution Company. Products include different types of Organic teas, Detox kits, Vitamins and other wellness products. Finance Director

Directed financial management functions including Preparation and reporting of monthly/quarterly financial statements. Oversee general accounting functions, including AR/AP, account reconciliation, cash management and Inventory. Administer all financial management systems, evaluating and integrating new applications. Develop highly skilled accounting and financial management team to achieve established objectives.

Lead Cost Accounting functions for $50M Health and Wellness Products manufacturer, overseeing product c costing, inventory valuation and standard cost updates across 2 manufacturing plants.

Implemented enhanced variance analysis reporting.

Built strong working relationships with the Operations, Factory/Warehouse, IT and Sales teams.

Prepared and reviewed monthly Inventory cost variance analysis by product.

Partnered with Supply Chain to redesign Inventory Control and Write-off procedures.

Developed and rolled out Activity based Costing Model for new product lines, improving pricing accuracy and margin visibility.

Reviewed and approved monthly, quarterly and annual payroll and tax reports.

Preparation of Quarterly and Annual Tax Returns. Imperfect Foods, San Francisco, CA 06/2022 – 02/2023 Imperfect Foods a digital grocery subscription service that sources specialty groceries and organic produce Accounting Director

Directed the entire accounting operations of the company. Worked side-by-side with the Finance team to grow the company revenue and increase operational profitability.

Responsible for all elements of monthly and quarterly close process as well as financial reporting. This includes managing the overall close process.

Support and actively participate in the continuous development and enhancement of the accounting and finance sub systems to meet the needs of the organization.

Manage revenue recognition in accordance with ASC 606

Manage lease accounting in accordance with ASC 842 ARVIND BHAKTA

Work with external auditors.

Develop an accounting team with clear roles and responsibilities while encouraging cross function training and knowledge.

FOODSTIRS INC, Santa Monica, CA 7/2019 - 04/2022

Foodstirs is a start-up food manufacturing company that produces junk-free organic & keto-friendly baking kits, mixes and baked treats for sale via e-commerce channels and in national retail grocery chains and specialty health foods stores. Controller

Directed the entire finance & accounting operations of the company. Worked side-by-side with the CEO to grow the company revenue and increase operational profitability.

Provided accounting and business leadership in support of the company’s plan to drive capital venture and shareholder return and longer-term strategic goals.

Led efforts to set up in-house accounting processes and procedures. Additionally, led integration of ERP system and accounting system.

Instilled a performance culture resulting in meaningful process changes or improvements to increase efficiency and effectiveness.

Was hands-on in developing relations with various contract manufacturers and vendors.

Managed all areas of accounting, both technical and transactional reporting, consolidations, manufacturing accounting, operational accounting, transactional accounting (A/P, A/R, Payroll, Stock Plan Administration and Commissions), internal controls and financial systems.

Worked closely with the operations team to closely monitor supply chain/ inventory and coordinate cost-efficient packaging, transport, and warehouse/3PL contracts for our products.

Led the Company’s financial close process, including preparation of financial statements and management reporting metrics and analysis.

Continually evaluated opportunities to drive greater efficiencies and effectiveness in the monthly and quarterly accounting close process and reporting.

Well-versed in reviewing and accounting for shopper marketing deductions, TPRs, shrink allowances, BOGO.

Allocated the financial resources of the company to achieve or exceed business and strategic plan objectives.

Maintain fiscal records, establish and maintain budgetary controls and procedures, and prepare financial reports.

Developed and implemented financial plans, and accounting practices and procedures and interfaced with external auditors and customer representatives to assure the Company is in compliance with GAAP, Financial Accounting Standards, CAS, and other applicable financial and accounting regulations.

Experienced working with large multi-store grocery chains, specialty health foods stores, and food distributors.

Prepared periodic Board of Directors and Investor presentations and packages for financial updates and overall company budget and growth evaluations.

Assisted CEO initiatives to secure new sources of capital funding. Negotiated and managed banking relationships and credit lines.

HEALTH-ADE KOMBUCHA LLC, Torrance, CA 11/2017- 05/2019 Health-Ade is a high growth specialty beverage manufacturer of small batch organic Kombucha tea products. With products sold at health stores, grocery stores, and specialty restaurants and cafes, Health Ade is one of the top three leading brands in the kombucha sector. The global kombucha market size has been valued at $760+ million. Corporate Controller

As head of the accounting department, managed and led a team of accounting professionals to successfully direct all accounting and inventory functions of the organization. Successfully established protocol for ERP system and advanced product cost accounting system.

Analyzed and prepared management reports and financial statements to investors and financial institutions.

Managed the A/P, A/R, bank reconciliations, cash management, general ledger, and tax submission processes.

Established and maintained a system of internal controls. Credit checks for new customers and manage credit extended to existing customers.

ARVIND BHAKTA

Managed monthly closings, quarterly physical inventories, the annual CPA audit, and quarterly bank loan audits.

Perform and oversee month end and year end close. Managed and monitored all accounts, ledgers, and reporting systems. Helped maintain internal control safeguards.

Monthly prepared, reviewed and analyzed Actual vs Budgeted Financial reporting.

Strong working knowledge of manufacturing accounting systems and particularly standard costing.

Implemented standard costs across product lines and tracked monthly variances and inventory analysis.

Collaborated with the operations team to build out capex expansion and gross margin improvement initiatives.

Built a robust budgeting process and financial reporting package for executive management and board of directors.

Developed relationships with external debt financing sources and managed equipment financing.

Identified opportunities to decrease COGS, improve operational efficiencies.

Developed forecasts that provided transparency into business drivers, risks and opportunities.

Produced management reporting tools to assess the financial performance of various business segments and solutions, as well as evaluate the ROI on key investments.

Analyzed and recommended effective options for the structure of client contracts utilizing extensive knowledge of revenue recognition methodologies.

Worked closely with the Sales and Marketing department in establishing correct product pricing models.

Led processing of revenue, expenditure and position control documents, department budgets, salary updates, ledger.

Optimized handling of bank and deposit relationships, and initiated appropriate strategies to enhance cash position

Ensure continuous improvement of the timeliness and accuracy of cash flow and management of the billing process

In collaboration with the IT team, coordinated improvements in automated financial and business information systems.

Ensured accurate, timely reporting of financial information – budgets, forecasts, monthly results and flash reports.

Managed development and expansion of the business intelligence function delivering key business insights, company dashboards, metrics reporting, and data analytics as needed.

Monitored key performance indicators, highlighting trends and analyzing causes of unexpected variance, including all areas of revenue, cost of sales, expenses, operating metrics and capital expenditures.

Identified and monitored significant business trends and variances, including in revenue, expenses, headcount, capital, balance sheet, and cash flow items.

LA CANASTA FOODS MANUFACTURING COMPANY, Phoenix, AZ 02/2009-10/2017 La Canasta is a food manufacturing company. Core business includes selling retail food products such as tortillas, wraps, chips, dips, sauces/salsas under the “My Nana’s” and “La Canasta Tortillas” brands. Additionally, the company develops and manufactures various food products for private labels. Also, the company sells many products directly to the retail chain markets, restaurant industry wholesalers, and distributors. Controller

As a member of the leadership team, directed the organization's planning, accounting practices and management systems.

Directed and coordinated the annual budgeting process and dynamic forecasting and planning process.

Analyze operating issues and implement changes to positively affect organizations profitability.

Oversaw all financial reports and was responsible for integrity of financial data of the organization.

Accurately recorded monthly COGS, inventory, reserves, labor, absorption, Fixed Assets.

Provided the President with key reports concerning profitability of jobs, customers and business segments.

Performed product cost analysis in support of sales organization.

Monitored system maintenance and input activities for labor and material.

Actively identified cost savings and process improvement opportunities.

Responsible for maintaining accuracy and integrity of the operation’s financial statements.

Prepared and reviewed capital expenditure requests to comply with guidelines and for proper financial returns.

Administered systems and policies to effectively measure financial and operational performance.

Reported on the financial status of the manufacturing plant to the President on a monthly, quarterly, annual basis.

Managed long and short-range operational planning and performance measurement, including profit planning, sales forecasts, expense budgeting, asset utilization, cost standards, capital investing and labor tracking. ARVIND BHAKTA

Supervised the Capital Expenditure Process (CEP), and all recording and reporting.

Directed the ADP Payroll & Benefits Administration

Collaborated with operations to guide negotiations with external vendors.

Lead the development of monthly reports & KPIs so management can track performance.

Interacted with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations.

Responsible for all company revenue recognition and general accounting processes and functions, including timely and accurate recording and reporting of all transactions and system reconciliations.

Optimized handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.

Developed financial models that effectively mirror operating results for large capital expenditures and assess overall profitability of investment decisions.

EDUCATION

Bachelor of Science in Accounting

California State University, Dominguez Hills

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