Chief Accountant at Al-Dhow Group – Kuwait

The Chief Accountant is responsible the accuracy of the accounts, he is the main auditor for the company Trial Balance, P&L, as well as other Government related financial declarations.

• Performs the yearly reconciliation of the statement of account between Wooden Bakery and different suppliers.
• Forecasting of the Company Cash-flow
• Checks Bank reconciliation.
• Checks Cash reconciliation to guaranty the accuracy of the cashiers operations.
• Prepare the report about Accrual Charges and Prepaid Charges (Insurance, Rent, etc.)
• Performs Asset Depreciation on Company cars and vehicles, generators, machineries, furniture, etc.
• Audits the consolidated daily journal and verifies daily transactions consisting of: daily supplier invoices, returns and credit notes, daily client and Franchise invoices, returns and payments, daily cash sales (taxable & nontaxable), daily bank deposit receipts, daily Visa & Master Card sales with their corresponding bank deposits, daily ticket resto, etc…
• Audits and controls daily returns from franchises, including validation of quantities of each item returned, discount granted, etc… vis-à-vis each franchise.
• Monitors, validates and reports each franchise balance of accounts every ten days, as well as their commission invoices every month.
• Oversees JV entry of monthly salary as per Payroll processing, and insurance JV entry after validating with previous year.
• Monitors discounts obtained from suppliers either agreed upon ones (monthly regular discounts) or occasional ones (exclusivity contracts, marketing contributions, etc…).
• Validates accounts payable due to creditors, such as suppliers or banks, and to all governmental agencies, such as NSSF and Ministry of Finance.
• Supervises the proper implementation of VAT requirements on all JVs
• and ensures NSSF JV entries once every trimester.
• Prepares government related financial reports such as (R5 and R10)
• Validates daily bank deposits and receipts, as well as bank statement reconciliations.
• Maintains proper documentation and filing for all effected transactions.
• Maintains records of other assets subject to amortization in sufficient detail to allow the periodic recording of appropriate amortization.
• Ensures that past due receivables status is promptly brought to the attention of management.

Report Development & Documentation

• Prepare reports, logs and updates relevant data on Al Dhow information system in order to ensure continuous availability of correct data.
• Works closely with Senior Accountant, and Finance Manager
• Coordinates with suppliers and banks in a professional and transparent manner