Ahmed Abdel Aziz

• Financial Analyst
• Preparing Financial Statements 
• Budgeting & Forecasting
• Treasury 
• Controlling budget VS Actual 

• Experiences

Financial Controller in Qatar Building Co, 01/11/015 – Present {Revenue: QAR 3 billion}

“Working in one of the mega construction companies in Qatar, we are doing infra structure works in Qatar for the following governments sector “Ministry of Transportation, Qatar Rail, Karama, Ashghal, QEAF& Qatar Airways”

I am controlling the budgeting on quarterly basis “Rolling budgeting method we are using “and checking the variances whether “Operational or Planning”, Preparing the work in progress schedule for recognizing unbilled revenue, negotiating with banks project facilities “overdraft, letter of credits& letter of Guarantee”

Preparing quarterly financial statements “Balance sheet, Income statement& Cash flow statement” 

Key Of achievements 

1. Implementing new accounting standard IFRS 9 & IFRS 15 construction contracts 
2. Covering the cash shortage especially in one of our joint ventures, when the partner bankrupted, I got term loan from the financing bank for the project for five years with proper interest rate 
3. Successfully maintaining the billing for the material on site and material offside by claiming part of it with customer hence, Cash flow increased, and deficit reduced 
4. Reducing the given advance payment Guarantees to our customers by the value of the executed work hence, I succeeded in reducing the load of the contingent liabilities with bank 
5. Implementing new system for the procurement between the inter companies so, once the LPO placed by any of the discipline manger will be linked on another company as unbilled vendor/ Customer so, Reducing the consuming time for doing the reconciliation between the inter companies
6. Implementing ABC costing system for distributing the fixed overhead on the project so, adding challenge for the civil team “Engineers” to cover not only the operating expenses that incurred while executing the project but also trying to cover the overhead and this will give them motivation to achieve this 

Chief Accountant in Gulf Tunneling Co, 01/03/2010 – 31/10/2015 {Revenue: QAR 200 million}

Core business for the company is making tunneling works , I was holding position of Chief accountant , The company working as sub-contractors for the other construction companies , I was responsible for preparing financial statement , reviewing accounts team transactions, controlling the receivables collection, issuing letter of credits for settling supplier dues in case of any cash deficit , partially participating in budgeting preparation , we were using traditional budgeting method on yearly basis.

Key of Achievements 

1. Hedging Hard currency with bank, I did hedge with bank regarding the Qatari Riyals against Euros, most our required spare parts for the tunneling machine is coming for Germany by this I reduced the cost of purchase for the spare parts addition to reducing the cost for the maintenance team in the company
2. Convincing the commercial manager and the operation manger to provide check guarantee instead of bank guarantee because of most of our works it was as subcontractors for the big companies so, the banks will provide any guarantees in high financing cost
3. Changing the followed depreciation method from straight line method to linked with activity level so, depreciation has been calculated based on the executed meters by each micro tunneling machine “useful life based on the capacity for each machine, how many meters can do during its life based on the manufactured company “so, I reduced the cost of depreciation   
4. Implementing new ERP system and assisting in setting up the mapping phase for the program 
5. I succeeded in reducing the bad debt in the company to 2% instead of 5% 
6. Allocating the account steam according to their qualification and establishing a unit for managing the receivables accounts, collection & providing a commission in the respect of collecting any bad debt 
7. Implementing digital banking transaction it gives us advantage for more security, fast acting in case of absences of the authorized signatory and less paperwork 
8. Implementing IFRS 16 leases “Operating lease “when doing any contract for the Horizontal Direction Drill works “Right to use the asset”

Sr. Accountant in Pharmaceutical Co 01/02/2009 – 31/01/2010

Responsible for recording customer billing, bank daily transactions, aging receivable and applying the following ratios “Day Sales outstanding ratio, Sales turnover & Inventory turnover”

Key of Achievements 

1. Managing accounts receivables and ranking the customers according to their abilities for settling their dues 
2. Reviewing the inventory levels in the company and determining the reorder point on the system, the demand can be met on time 
3. Requesting the local distributer for providing their financial statement and submitting financial prequalification for checking the cash liquidity what they have based on this I provide to each distributer his payment terms whether will be on credit by checks, LCs, or Cash 
4. Following with tax authority regarding sales tax and reconciling the accounts between each other 
5. Increasing the given tenor for the customers for receiving cash discount from 15 days to 30 days with this policy I encouraged the customer to pay in cash and we have more inflow and better cash flow  

Associate Auditor 01/01/2007 – 31/01/2009

Auditing the financial statement for the customers 

Preparing tax file 

Financial analysis and checking and verifying the changes in the financial statements 

1- B.COM Ain Shams University , Accounting Section 

2- Graduated May, 2006

• Courses & Certificates 

1. Certified IFRS – ACCA