PRASAD BALABADRA

Experience

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  Sastry & Co

  Jan 2007 - Mar 2009

  Audit Executive

  Accounts,Tax, Audit & Assurance

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  T.R.Chadha & Co

  Jul 2009 - Oct 2009

  Assistant Audit Manager

  Job Responsibilities Held: • Statutory and Tax audits of Banks, Chit funds, Traders, Companies, Firms etc.• Preparation of Tax returns of Individuals, Companies and Firms.• Preparation of Projection reports for procuring Loans from Bank or other Financial Institutions.• Writing Books of Accounts of Small Companies and Traders.• Finalization of Accounts of Companies and Small Traders.• Coordination with Income Tax Authorities, Registrar of Companies and Banking Officials.• Preparation of Partnership deeds and Completion of Procedures for FirmsSome of the major audits in my credit: Statutory Audit & Tax audit CPG consultants pvt Ltd , Bangalore Peridian consultants pvt ltd, Bangalore Payroll Audit of GMR group of Companies, Bangalore Statutory Compliance of various acts like Provident Fund Act 1952, Professional Tax Act 1976, ESI and Income Tax Act 1961. This audit is for the entire group of eight sectors which has approx forty companies. Show less

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  Baker Tilly MKM

  Dec 2009 - Jan 2011

  Assistant Manager

  • Preparation of Monthly MIS Reports of Brasa Middle East FZE• Audit of companies in variety of industries like trading, manufacturing, equipment rental etc. As an auditor we use the following audit techniques Prepare, analyze, and verify annual reports, financial statements, and other records, using accepted accounting and statistical procedures to assess financial condition. Verify the applicability and application of IAS and IFRS, to the client’s financials and give recommendations to client for proper application of the IAS and IFRS standards. Collect and analyze data to detect deficient controls, duplicated effort, fraud, or non-compliance with laws, regulations, and management policies. Documentation of all the procedures and policies of the client relevant and necessary for completing the audit. Apply ratio analysis techniques and analyze the variances, in the financial data, over the period and document the explanations given by the client. Identify the points which are relevant, for expressing auditor’s opinion, and bring to the attention of the Manager/Partner. Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions. Confer with company officials about financial and regulatory matters.• Liaison with client’s staff and obtain the relevant information which is necessary for audit.Some of the major audits in my credit are as follows• Precision Fasteners LLC• Brasa Middle East FZE• Euro Steel FZE• Sakr Energy Solutions FZCO• Sakr Energy Solutions LLC• Sulzer Middle East FZCO• Sulzer KSA • Kobian Gulf Show less

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  ELENCO EMIRATES GROUP

  Mar 2011 - May 2013

  Group Senior Accountant

   Continues supervision of accounting staff to ensure that the accounting procedure being followed as per Company policy/Laws Verifying requests from HR department in relating to payroll (payroll register, Leave salary, ESOB etc.) and sending for final approval. Heading the Accounts Receivable department and ensuring the receivable turnover within the due date. Negotiating with the Accounts Receivable defaulters for the revised payment schedule with the finance charges (Depending up on the till date business relationship and market presence). Actively participating in cash flow management by preparing daily cash flow. Preparing month end closing activities and preparation of MIS reports for Management review within agreed date. Preparing Excel models of management reports and document formats in relating to operations, accounts and finance. Reviewing monthly divisional performance against annual budget plan and reporting deviances to management. Actively participating in preparation of annual budget plan, inventory management decisions, Credit analysis. Handling year end closing activities & liaising with external auditors to complete the financial audit with in timelines. Review of the internal controls to ensure o the extent to which the system of internal control ensures compliance with the company policies and procedureso the assets of the entity are properly controlled and safeguarded from losses arising from misuse or fraudo the adequate internal control system to the integrity and reliability of financial reports and reporting weaknesses to Management. Liaison with banks in resolving the queries relating to accounts and reports requested for project finance. Well versed with International Trade financing i.e Letter of Credit, Letter of Guarantee, Trust Receipts, Bills discounting etc. Familiar with Logistics activities of import, export, Insurance and other related matters. Show less

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  Snacks Foodstuff Trading

  Jun 2013 - Jan 2017

  Chief Accountant

   Monitoring of Account Maintenance, Due Diligence, Compliance to ensure that all business activities adheres to policies, rules and regulations. Improving credit terms with Accounts payable and managing payments in line with cash flow.  Preparation of monthly MIS Reports consists of o Complete set of financialso Variance analysis of Income & expenditure, Cash flow (Budget & Actuals)o Sales margin analysis brand wise, department wise with recommendations Feasibility study while evaluating for new branch setup decisions. Evaluating and strengthening the internal controls in respect of accounting procedures, operations. Liaison with External Auditors for completion of yearend financial audit. Preparation of Budgets & Cash flow reports (Annually, Monthly & Daily). Preparation/Review of Monthly payroll and processing through WPS System. Ensuring accuracy in employee payments. Arranging & Renewal of General Insurance and Staff Medical Insurance.  Monitoring stock aging to improve stock turnover and to reduction of stock loss by devising proper controls on purchases. Provides recommendations for improving the operational procedures in terms of both efficient and effective performance. Conducting periodical QC audits, Quarterly inventory verification and reporting to management. Preparing adhoc management reports as requested by management time to time. Safeguard and ensure overall financial interests of the company in respect of the company assets. Effectively led and coached a team of five members. Handled independently implementation of Sage Accounting package and New Era (POS Software) while setting up the company. Show less

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  Fathima Group of Companies LLC

  Mar 2017 - now

  Chief Accountant

  Handling Trading divisions of Dubai and Al ain consists of • Fairway General Trading LLC - Trading of Frozen and Dry products.• Feltron General Trading LLC – Electronics and Home appliances division.• Fairway Flourmill LLC- Processing and Repacking unit.• Palm Spring Pure Nature Water LLC- Drinking water bottling unit.Job Responsibilities:  Monitoring of Accounts Maintenance in compliance with IFRS and local rules and regulations. Handling independently VAT Registration and implementation works of the group o By coordinating with VAT Consultants, Finance, operations and IT.o Given training to accounts staff, operations staff.o Attending queries of Operations, Accounts, HR and Admin. Handled migration works of Accounts from mycom to SAP. Feasibility study for making the decisions of Central ware house, Staff accommodation shifting by calculating time and motion study. Carried restructuring works of the divisions for cost reduction/ Cost saving options and presented to management. Monitoring daily cash flow of the divisions and managing payments accordingly. Preparation of monthly MIS Reports consists of o Complete set of financialso Variance analysis of Income & expenditure (Budget & Actuals)o AR and Inventory ageing with analysis and feedback from department heads. Preparing annual budgets and presenting to management. Verifying payments, Bank documents, Contracts, purchase orders before going to the owners. Liaison with internal and external auditors, banks to resolve the issues. Well versed with International Trade financing i.e Letter of Credit, Letter of Guarantee, Trust Receipts, Bills discounting etc. Review of the internal controls and do the needful to strengthen them to comply with the company’s policies and procedures, to safe guard company’s assets, to maintain integrity and reliability of financial reports. Show less

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  Al Ahlia General Trading Company LLC

  Apr 2019 - May 2021

  Group Chief Accountant

   Implemented Payroll software independently in compliance with local labour laws and given training. Close monitoring of Accounts Maintenance in compliance with IFRS and local rules and regulations. Handled various operational audit assignments to give assurance to the management. Handling monthly filing works of VAT and Excise. Carried restructuring works of the divisions for cost reduction/ Cost saving options and presented to management. Monitoring daily cash flow of the divisions and managing payments accordingly. Preparation of monthly MIS Reports consists of o Complete set of financialso Variance analysis of Income & expenditure (Budget & Actuals)o AR and Inventory ageing with analysis and feedback from department heads. Preparing annual budgets and presenting to management. Verifying payments, Bank documents, Contracts, purchase orders before going to the CFO. Liaison with internal and external auditors, banks. Well versed with International Trade financing i.e Letter of Credit, Letter of Guarantee, Trust Receipts, Bills discounting etc. Review of the internal controls and do the needful to strengthen them to comply with the company’s policies and procedures, to safe guard company’s assets, to maintain integrity and reliability of financial reports. Show less

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  Own Professional Practice

  Jun 2021 - now

  Chartered Accountant having 17.5 Yrs Experience

   Handled finalization of businesses like Wholesale & Retail Pharmacies, Retail FMCG’s, Educational Institutions, Catering businesses. Tax Audits. Filing of GST Returns, TDS Returns. Monitoring monthly compliances like EPF returns, ESI, Professional Tax, Advance Tax. Budgeting, Feasibility evaluations.