Rakesh Sharma

Experience

• 

  BHEL

  Jul 2011 - Jun 2020
• 

  Bharat Heavy Electricals Limited

  Jul 2011 - Jun 2023

  Heading section of financial statement from Dec 2017, which is responsible for preparation of Financial statement in accordance with Ind AS, get audited form statutory Auditors / CAG / Internal Auditor. Responsible for Tax Audit coordination of region, Coordination with internal audit for audit program of various sites & HQ department, Implementation & review of Internal Finance Control, Risk & Mitigation plan, Closure of audit para after implementation of necessary controls over GL & process. Responsible for coordination of of Unit Level Audit Committee, Implementation of new Ind AS, Schedule III disclosure, Competitors data analysis.Responsible for Revenue Recognition of all project sites, Lease Calculation, PPE & Intangible Assets & its impairment analysis Controller, Inventory Controller, Provisions & Contingent disclosure, discussion with Operations Team for Project Cost to Complete.Responsible for Region's Budgeting & forecasting for ABP plan.Various MIS on Schedule III, Balance Sheet Reconciliation, P&L Reconciliation, Variation Analysis to Management.Lesioning with vigilance department to establish various controls on process.Interunit Reconciliation, Cash Allocation reconciliation. Show less I have been leading the financial statement section, responsible for preparing financial statements in accordance with Ind AS and ensuring they are audited by statutory auditors, CAG, and internal auditors. My duties include coordinating tax audits for the region, working with internal audit on audit programs for various sites and HQ departments, implementing and reviewing internal finance controls, and developing risk and mitigation plans. I also handle the closure of audit observations after implementing necessary controls over GL and processes. Additionally, I coordinate the Unit Level Audit Committee, implement new Ind AS and Schedule III disclosures, and analyze competitors’ data. My responsibilities extend to revenue recognition for all project sites, lease calculations, PPE and intangible assets, and their impairment analysis. I also act as the controller for inventory, provisions, and contingent disclosures, and collaborate with the operations team on project cost-to-complete discussions.From 2011 to December 2017, I served as the Project Finance Controller. My journey began as a trainee at the NTPC Vindhyachal project in 2011, where I gained comprehensive knowledge of project operations. I then took on the role of Project Finance In-Charge at the JPL Raigarh project, handling commercial finance and project site accounts activities, including:ACR (Order to Cash)ACP (PO to Payment)Concurrence of ProposalsDirect & Indirect TaxationBudgeting & Forecasting of Project siteEmployee PaymentsVarious MIS to managementStakeholder Management & Conflict ManagementPeople ManagementLater, I became the Project Finance Controller for the OPAL Dahej project, with main responsibilities including:ACR (Order to Cash)ACP (PO to Payment)Concurrence of ProposalsDirect & Indirect TaxationBudgeting & Forecasting of Project siteEmployee PaymentsVarious MIS to managementStakeholder Management & Conflict ManagementPeople ManagementCustom clearance in SEZ Project Show less

  • Deputy Manager

    Jul 2020 - Jun 2023

  • Senior Account Executive

    Jul 2011 - Jun 2020
• 

  Godrej & Boyce Mfg. Co. Ltd.

  Jun 2023 - now

  Lead Project Finance Controller

  Lead Project Finance Controller with Godrej & Boyce E&E Division on PIRE & MEP Projects.• Handling all aspects related to project controlling.• Preparation & Presentation of the Financial Summary of the Projects to Management. • Quarterly Estimating the cost of project, analysis of Cost variance (actual v/s forecasted) for the entire project (Material procurement, Transport, Site, Man Power, Project execution, Erection & Construction, Finance cost etc.).• Anticipation & Estimation of project Risk & Opportunities.• Preparation & Claim settlement, for Extension of time, scope deviation, Price Indices variation to both customer & vendor & improve project margin & cash flows for the Project & Unit.• Ensuring adherence to revenue recognition norms & revenue booking and Margin Management-Monitoring and sharing Percentage On Completion.• Bonds and guarantees, setting up Letter of Credit (Customer/Vendor) & its periodic review.• Monitoring the cash Flow & ensuring on time invoicing to customer. • Forecasting of Cash Flow with accurate projection of cash inflow and outflow for the project.• Accounts Receivable : Compliance of credit terms and follow up for collections by providing weekly reconciliations to Project Managers and Management.• Accounts Payable : Establish good credit terms with vendors and manage the payments.• Project Monitoring & backlog Analysis. Show less