Salah El-Fouly

Experience

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  Kahromika

  Nov 1997 - Sept 1999

  Accountant

  Participating in establishing & developing the financial system to use EXCEL applications as a start to use ORACLE applications. Participating in establishing the computerize system to use the Motamem accounting program. Develop the budgeting control system by using Excel applications and determining the variances between cash in & cash out for each project in the company. Responsible for the budget department control & computer department in the financial management, Do some technical support for the computers (hardware & Software), Financial Accountant, Financial Statement Analyst (Financial Ratios, Statement of Cash Flow, general & administrative exp. (G&A) analyses, aging analyses for accounts receivable). Show less

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  Montasser for Ready Mix Concrete Co. (MRMC)

  Oct 1999 - Jun 2002

  Senior Accountant

  Participating in preparing the financial statements in the MRMC by make the following analyses {Financial Ratios, statement of cash flow, general & administrative expenses (G&A) analyses, aging analyses for accounts receivable, accounts payable controller, inventory controller, forecasted analyses for the (G&A), vertical & horizontal analyses, preparing PowerPoint presentations for the company. Do some technical support for the computers (hardware & Software).

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  Kuwaiti British Readymix Company W.L.L.

  Jul 2002 - May 2009

  Chief Accountant

  KBRC is a subsidiary of M. A. Kharafi Group, Kuwait. It is the largest supplier of ready mix concrete in Kuwait with a market share over 20% and an annual turnover of 50M US$ and total assets of 40M US$.Started with the position of Accountant then Senior Accountant.• Oversee the preparation and maintenance of accurate financial records, including general ledger, accounts payable, accounts receivable, payroll, and inventory.• Prepare and present monthly, quarterly, and annual financial statements and reports.• Implement and manage cost accounting processes specific to the ready-mix concrete industry.• Oversee accounts receivable collections and accounts payable disbursements.• Oversee the accounting and valuation of raw materials inventory.• Conduct regular inventory reconciliations and ensure accurate inventory reporting.• Implement inventory control measures to minimize waste and losses. Show less

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  TRANSGLOBE S.A.E.

  Jun 2009 - Apr 2012

  Finance Manager

  • Monitor and control transportation and logistics costs, including fuel, maintenance, and labor expenses.• Implement cost-saving initiatives and efficiency improvements.• Conduct variance analysis between budgeted and actual costs.• Review and negotiate contracts with suppliers, customers, and service providers.• Ensure favorable terms and cost-effective agreements.• Monitor customers performance and ensure compliance with contractual terms.• Develop, monitor, and update the company’s financial budgets and forecasts.• Oversee the preparation of timely and accurate financial statements, including income statements, balance sheets, and cash flow statements. Show less

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  El-Shorbagy Trading & Construction Supplies

  May 2012 - Mar 2014

  Finance Manager

  • Monitor trading costs and operational expenses to ensure cost-effectiveness.• Conduct variance analysis and implement cost-saving initiatives.• Optimize financial performance through cost management and efficiency improvements.• Oversee the management of the company's cash flow to ensure liquidity and operational efficiency.• Monitor cash positions, manage working capital, and optimize cash reserves.• Ensure timely collections and payments, managing accounts receivable and payable effectively.• Prepare and present accurate and timely financial statements, including profit and loss statements, balance sheets, and cash flow statements.• Ensure the finance team’s alignment with the company’s strategic goals and objectives. Show less

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  Cedar Glass

  Apr 2014 - Apr 2016

  Finance Manager

  • Prepare and present monthly, quarterly, and annual financial statements and reports.• Coordinate with external auditors for annual audits and other compliance-related activities.• Monitor and control manufacturing costs and overheads.• Implement and manage cost-saving initiatives and efficiency improvements.• Develop and implement internal controls to safeguard company assets• Manage cash flow, including forecasting and monitoring cash positions.• Oversee accounts receivable and accounts payable processes to ensure timely collections and payments. Show less

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  Basem International

  May 2016 - Mar 2020

  Finance Manager

  • Develop comprehensive financial models to support the company's short-term and long-term business plans.•Prepare annual budgets, cash flow forecasts, and financial performance reports for management review.• Manage the company's cash flow, including A. receivable, A. payable and working capital requirements.• Negotiate and maintain relationships with banks and other financial institutions to secure appropriate financing and banking facilities.•Oversee the preparation of accurate and timely financial statements, including income statements, balance sheets, and cash flow statements. Show less

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  MCI-Detergent

  Mar 2020 - Mar 2023

  Manufacturing Group - Finance Director

  Modern Adhesives Products (MAP) Gulf Industries Company (GIC)1. Financial Planning and Budgeting:• Develop and manage the annual budget, forecasting for the manufacturing operations.• Collaborate with department heads to align financial plans with operational objectives.2. Financial Reporting and Analysis:• Oversee the preparation of timely and accurate financial statements, including income statements, balance sheets, and cash flow statements.• Conduct in-depth analysis of financial performance, variances, and key metrics to support decision-making.3. Cost Management and Process Improvement:• Implement effective cost control measures and strategies to enhance profitability.• Identify opportunities for process optimization, cost reduction, and operational efficiency.• Provide financial guidance and support to the manufacturing teams to improve productivity and margins.4. Risk Management and Compliance:• Ensure adherence to financial policies, procedures, and regulatory requirements.• Identify and mitigate financial risks, such as currency fluctuations, RM price changes, and credit risks.5. Banking Relationships and Facilities Management:• Develop and maintain strong relationships with the organization's banking partners (SNB, Riyadh Bank, Alinma Bank) negotiating favorable terms for various banking products and services.• Secure and optimize the utilization of bank facilities (Bank facilities SAR 40M), such as lines of credit, term loans, and trade financing, to support the company's cash management needs such as working capital needs, capital expenditures, and expansions.• Ensure the company's bank facilities are aligned with its cash flow requirements and financial objectives. Show less

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  Sarpco GCC (Saudi Rubber Products Co)

  Apr 2023 - now

  Finance Manager

  • Analyzed financial data and identified cost savings opportunities, resulting in a 15% reduction in operating costs over a one-year period. • Provided financial guidance to senior management, resulting in informed decision-making.• Developed and maintained financial models and projections, enabling accurate forecasting and supporting strategic decision-making that resulted improvement in ROI.• Costing of new products and project, updating the cost and the annual revision of standard costs.• Formulating effective cash flow management strategies to ensure sufficient liquidity and minimize financial risk, ensuring timely payments to vendors and reducing outstanding accounts payable by 25%, Streamlined the accounts receivable process, resulting in a 40% increase in collections.• Developed and maintained internal controls, resulting in a successful financial audit with no major findings.• Spearheaded the development of a new financial reporting system, increasing accuracy and efficiency.• Developed and implemented budgets, financial forecasts, and cash flow projection.• Collaborate with other departments to provide financial insights and support decision-making processes. Show less