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Abayomi
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Financial /management accountant
Job Type: Full-Time

Education

From 0 to 2012
University of Wales UK (MBA Financial Management)
From 0 to 2011
Oxford Brookes University UK (Bsc Applied Accounting)
From 0 to 2011
ACCA
No added languages

Experience

Financial/Mgt. Accountant
MW & More (Milliner warehouse Ltd) London
October 2009 - Present Day (7 years 5 months)

Financial/Mgt. Accountant (March 2011 to Date): MW & More (Milliner warehouse Ltd) London

Prepare and interpret financial and operational reports prepared in according to IFRS & UK GAAP and management requirements in supporting management decision making and providing support to the finance team

Duties Include:

  • Timely preparation of financial and management accounts for business entities in accordance with IFRS, UK GAAP and management requirements
  • Assist to prepare consolidated P & L and Balance sheet of business units in accordance to IFRS & UK GAAP
  • Processed month and year end General ledger journals and reconciliations of General Ledgers
  • Analysis of inventory for proper administration using pivot table and other excel tools
  • Costing of product, cost analysis of business units and product pricing to match/beat competitors
  • Maintain GL and sub-ledgers, cashbook and other nominal ledgers of business units
  • Monthly review of group balance sheet to assist in the delivery of information to meet banking covenants
  • Evaluation of Franchise and agency agreement documents and business case for final endorsement
  • Make input to the strategic direction, planning, budgeting and performance review of business units
  • Provide credit risk report on new customers, projects, franchise and agents for decision making
  • Supervise bi-annual stock take and inventory reconciliation and revaluation for database update
  • Assist in preparation of budget, forecast, cash flow and variances for business units
  • Prepare liquidity report and working capital requirements for business units and offices.
  • Monitor account reconciliation and KPI metrics and projects evaluation of costs and margins
  • Draft and review business case & agreements for negotiation with franchisees, agents and distributors.
  • Identify improvements in processes and make recommendations for changes to processes and controls
  • Prepare multi- currency management accounts relating to European and oversees transactions.
  • Test and remit VAT, WHT, PAYE, EC Sales list and all statutory returns on timely basis at all times
  • Liaise and work closely with external auditors ensuring all supporting documents and evidences are made available regarding quarterly and year-end audits.
  • Provide relevant financial information as required to other departments including tax, project controls and management and financial accounting
  • Provide strategic direction, supervision, coaching and mentoring support for new finance recruits

Asst. Management Accountant (Oct 2009 March 2011): MW & More (Milliner warehouse Ltd) London

  • Prepared sales invoices, Purchase invoices and maintained upkeep of account filing systems
  • Reconciled staff and managers expenses to card statements and reported discrepancies
  • Carried out credit control and reported debtor age and creditors unsettled payment
  • Processed month and year end General ledger journals and reconciliations of GL accounts
  • Maintained general ledgers and sub-ledgers, cashbook, of business units and the group
  • Performed reconciliation of inter-company/Office transactions and raised corrective journals
  • Calculation of accruals, prepayments, monthly amortizations and adjustment journals
  • Performed daily review and reconciliation of nominal ledger, suspense accounts and cashbook
  • Managing and updating Fixed assets register and calculating depreciation, accruals and prepayments
  • Prepared bank and card reconciliations and control accounts reporting identified issues
  • Processed of Accounts Payable and Accounts Receivable and Assets register maintenance.
  • Performed testing of transactions for filing of VAT, PAYE, NI, EC Sales and corporation tax
  • Liaised with external consultant, agents and professional services and funds providers

Achievements:

  • Contributed to strategy leading to opening of new business units, franchises which boosted revenue
  • Contributed to lean operations saving cost and improving sales and profitability margins.
  • Integration of accounting system inventory database software and the website causing efficient operation
  • Motivated an extensive improvement to accounting information system and implementations
  • Maintained an efficient and integrated accounting system leading to tight internal financial controls
  • Lead the project team in implementing migration to new accounting system
Accountant / Client Relationship Management.
OA & Co. Tax and Accounting Services London, UK
September 2008 - October 2009 (1 year 2 months)
  • Performed bookkeeping and prepared Management accounts for industries clients,
  • Filed personal self-assessment, HMRC and company house filings for clients
  • Prepared and remitted VAT, PAYE, NI, EC Sales and corporation tax for various clients
  • Prepared periodic payroll for clients’ staff i.e. weekly, monthly and produced payroll reports
  • Liaised with HMRC, company house on filings, taxes and penalties matters for clients
  • Prepared bank reconciliations, invoicing, journals, prepayments, accrual and year end for Clients
  • Ensured continuous review and improvement of accounting processes for client.
  • Prepared trial balance, profit & loss account, balance sheet, accruals and prepayments for the firm
  • Performed periodic reconciliation of statements and general ledgers.
  • Carried out ad hoc tasks as well as daily administrative functions.
  • Designed and developed bespoke management layouts, templates and reports

Achievements:

  • Determined effective tax planning for clients business
  • Seized tax opportunities designed for clients industry in negotiations with the HM Revenue and Customs
  • Helped Clients in recouping overpayments on tax and cancellation of penalties and charges.
Fund Accountant
Marimpex Finance & Investment Co. Ltd, Nigeria – (Member of the Nigerian Stock exchange)
January 2005 - July 2008 (3 years 7 months)
  • Analyzed daily liquidity/cash flow and forecast daily fund requirements and report to Head of Accounts
  • Processed and posted sales and purchase invoices, Journals and Credit notes and manage cash book
  • Prepared bank reconciliation statements (Current, Trading, Fixed and Call deposit accounts, stock deals) and report any inconsistency
  • Assisting the Head of Accounts when preparing statutory management reports
  • Year-end accounting including revaluation of equity portfolios for annual audit
  • Reconciled daily stock transactions, investigate and report discrepancies
  • Maintained Clients’ accounts, cashbook and other general ledgers
  • Manage local banking relationships and relating issues.
  • Negotiate revolving credit and other security for client receivables
  • Make cash requisitions and control disbursement
  • Processed dividends arising from equity stocks of corporate and high net-worth clients

Achievement:

  • Compiled, reconciled and managed group/ high net-worth clients’ equity portfolio in excess of £38,750,000 (N9.3Billion) without any supervision.
  • Recouped equity share bonuses and unclaimed dividend worth over £870,500 (N226.33million) after thorough reconciliation, for high net-worth clients and the group