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Sumeet Bucha

Candidate ID: 666439

Career Summary

Indian CA with over 9 years experience in Finance / Accounting / Tax / Banking / Audit / Other functional area

Skill Set

Managing all activities of Finance and Accounts

Professional Information

Total Experience : 9

Nationality : United Arab Emirates

Qualification Level : Post Graduate

Job Function : Accounts / Tax / CS / Audit / Finance

Work Location Preference : Kuwait, Bahrain, Oman, Qatar, UAE

Detailed Profile



CAREER SUMARY
More than 9 (Nine) years of rich experience in Planning, directing, organizing and synchronizing the finance, accounts & commercial functions in reputed MNCs across different geographies of the world. Worked in India, Nigeria, Saudi Arabia and UAE. Showcased managerial and multitasking skills with, excellent communication skills high moral values and professional approach, setting ambitious goals and always working towards achieving them.

CORE COMPETENCIES & RESPONSIBILITIES UNDERTAKEN SO FAR…

• MONTH END CLOSING OF BOOKS
• BUDGETING & FORECASTING
• VARIANCE ANALYSIS
• MANAGEMENT REPORTING
• CASH FLOW MANAGEMENT
• PROJECT ACCOUNTING
• ACCOUNTS PAYABLE
• ACCOUNTS RECEIVABLE
• GL ACCOUNTING
• FIXED ASSETS MANAGEMENT
• INTERNAL CONTROL
• STATUTORY AUDIT
• INTERNAL AUDIT
• BANKING
• TAXATION
• COMPLIANCE
• STANDARD OPERATING PROCEDURES (SOPS)
• TEAM MANAGEMENT ? Independently supervising accounting functions of Subsidiary/JV/UJV, including posting of revenues and expense, accruals, intercompany transactions & reconciliations, and preparing periodical financial & management reports.
? Meeting accounting financial objectives by preparing annual budgets, analyzing trends in actuals, report variances and initiating corrective action.
? Monitoring cash flow and ensuring positive cash flow through timely client invoicing / deferring vendor payments / other working capital measures and allocating for necessary resources.
? Ensuring that all foreign currency exposure are hedged timely.
? Performing financial and cost accounting responsibilities eg. AP, AR, GL, etc. locally and through Global Business Accounting Service (GBS) function in India.
? Providing guidance to the team (local & outside) on complex accounting transactions to ensure quality, integrity and accuracy of accounting & financial reporting.
? Developing and maintaining effective accounting & internal control by establishing a chart of accounts, defining/complying with group accounting policies and procedures.
? Monitoring Asset capitalization, its retirement or transfer, disposal and its timely insurance.
? Handling banking operations, company taxation and secretarial matters, in consultation with consultant.
? Ensuring payment of statutory liabilities (e.g. TDS, MSMED Interest, GOSI, Advance Zakat and WHT) and filing periodic returns, within due date.
? Managing financial internal & external audits.
? Communicating job expectation, planning, monitoring, appraising, and reviewing job contributions of the team.
? Updating professional knowledge by participating in education opportunities and maintaining personal networks.
WORK EXPERIENCE SO FAR…


Aug 2017 – Present Petrofac International UAE LLC
- A Group company of, London Listed, Petrofac Ltd, an EPC group into oil & Gas projects Sharjah, UAE
Oct 2016 – Aug 2017
(11 months) Indorama Eleme Petrochemical Limited
- A Group Company of Indorama Corporation, is a Poly-Olefins producer Port Harcourt (Rivers State, Nigeria)
Aug 2014 – Oct 2016
(2 years 3 months) Larsen & Toubro Hydrocarbon Engineering Ltd.
- A Group Company of Larsen & Toubro Limited Al-khobar (Saudi Arabia) & Vadodara (Gujarat, India)
Feb 2014 - Jul 2014
(6 months) Saraf & Chandra
- A Chartered Accountants firm Kolkata (West Bengal, India)
May 2010 - Jan 2014
(3 years 8 months) Larsen & Toubro Limited
- US $ 20 bn with diversified interests in infra, EPC, finance, IT, etc. and listed in India Vadodara (Gujarat, India)
May 2007 – Apr 2010
(Article assistant) V Singhi & Associates
- Chartered Accountants Kolkata (West Bengal, India)
Mumbai (Maharashtra, India)



ACADEMICS HISTORY SO FAR...
2018 – Pursuing
Pursuing ACCA (Professional Level)
(Cleared P1) ACCA, UK
2018 UAE VAT Certification ICAI, India – Dubai Chapter
2010 IFRS Certification ICAI, India – Mumbai Chapter
2005-2010 Chartered Accountant
(First Attempt – All levels – PE I, PE II & CA Final) ICAI, India
2004-2007 Bachelor of Commerce [Hons. in Accountancy) Gauhati University, Assam, India



COMPUTER LITERACY SO FAR…
? SAP ECC 6.0 ? Oracle E12 ? Tally ? Hyperion ? MS Office ? Newgen


PERSONAL DETAIL
? Date of Birth : Mar 20th 1986
? Marital Status : Married, to CA Monika Chopra Bucha
? Nationality : Indian
? Native : Rajasthan, India
? Passport Details : L2664038, Issued from Vadodara, Gujarat, India and expiring 16-Jun-2023
? Permanent Address : Dhubri – 783301, Assam, India
? Languages known : English, Hindi, Marwadi, Bengali, Assamese, Gujarati (Elementary)
? Personal Interest : Social Welfare, Travelling, reading Newspaper
? Alternative mail : sumeetbucha20@gmail.com

CAREER DETAIL
Petrofac International UAE LLC (A Petrofac Group Company)
- A London Listed EPC Contractor of Oil & Gas projects across the globe

Designation: Senior Executive – Finance & Accounts

Reporting Vertical – Director of Finance

Roles and Responsibilities:
? Independently supervising accounting functions of a UJV, including posting of revenues and expense, accruals, intercompany transactions and prepare periodical financial & management reports.
? Diligently validating forecasted project revenues, cost and cash flow by analyzing records of present and past operations, trends, commitments, and obligations incurred.
? Review Project Cost Reports, prepared by Project Cost Controls, to analyze actual cost against budget, commitment and estimate to complete, contingency, tax and margin, and report variance.
? Document and analyze change in contract value, accounts receivables, WIP and backlog and report risk against planned.
? Act as focal point for assigned projects for maintaining financial control over the project throughout the life of the project. Ensures that the project costs are properly processed and recorded timely.
? Reviewing every change orders for material/sub-contract orders for any over-run against the latest estimate to complete and impact on project margin.
? Calculating BG commitments, agency fees commitment, exchange gain/loss in contract revenue & cost due to foreign currency exposure and ensure necessary accounting entries.
? Ensures that all foreign currency exposure are hedged timely and rolled over periodically.
? Coordinating with local banks for issuing Labor, Visa guarantees bond and Letter of credit.
? Monitor day-to-day accounting operations, viz. AP, AR, GL and bank accounting locally and through Global Business Accounting Services (GBS) teams in India.
? Ensuring required documents are made available to EY during periodical audit periods.
? Providing inputs to any ad-hoc reporting as required by local and corporate management.

OIS Indorama Port Limited (Subsidiary of Indorama Eleme Petrochemical Limited)
- A port, for facilitating export of Urea bulk
Super Packaging Limited (A group company of Indorama group)
- A bagging manufacturing plant, facilitating bagging of PP, Urea and other Indorama products

Designation: Manager – Finance & Accounts

Reporting Vertical – Head of Finance/CEO

Roles and Responsibilities:
? Monthly closing of books and Trial Balance Finalization.
? Preparation of Monthly Management Accounts, Annual Projections and Budgets.
? Monitoring of day to day activities of Finance, Accounts, Banking and Administration.
? Resolving ERP issues for branches, internal control checks in ERP & preparing chart of accounts.
? Finalizing commercial terms while negotiating with suppliers for various operational & administrative supplies.
? Reviewing and Finalizing Bank Reconciliations, Supplier Reconciliations, Stock Reconciliations.
? Filing statutory returns.
L&T Hydrocarbon Engineering Ltd.
Designation: Assistant Manager – Finance & Accounts

Reporting Vertical – Head of Finance

Roles and Responsibilities:
? Preparation of Monthly Management Account, MIS and uploading into Hyperion for consolidation.
? Preparing a comprehensive budget providing basis and assumptions for each P&L item.
? Periodic review of critical value drivers like Bookings, Backlog, Revenue, Gross Margin, Customer Outstanding and Working Capital to remove bottlenecks in the business.
? Handled Tax assessment proceedings for 2007 to 2011.
? Ensuring payment of statutory liabilities within due date (e.g. GOSI, Advance Zakat and WHT).
? Filing monthly withholding returns.
? Secretarial compliances - board meeting, shareholder meeting and AGM and preparing MOM.

Saraf & Chandra
Designation: Senior Manager - Audit

Reporting Vertical – Senior Partner

Roles and Responsibilities:
? Oversee the internal audit practice and execution of internal audit projects including: risk assessment, testing / evaluation of records, and designing /conducting the internal audit process
? Identify an organization's internal controls based on review of documented operating policies and procedures
? Design and execute tests of internal controls including business process and information technology controls
? Discuss all significant accounting, auditing and internal control issues identified during the engagement with the project lead

Larsen & Toubro Limited
Designation: Senior Executive – Finance & Accounts

Reporting Vertical – Senior Deputy General Manager

Roles and Responsibilities:
? Authorizing all kinds of payments after due verification of documents.
? Monitoring of Bank Guarantees vis-à-vis advance against it.
? All project Import payments and FEMA compliance thereby.
? Opening, amendment and payment against Letter of Credit.
? Fund forecasting for ensuring timely payments, maintaining positive cash-flow.
? Inter-company reconciliation.
? Identifying Goods in Transit, various provisions, major cost variance analysis.
? Preparing disclosures to notes to accounts (CIF, Expenditure in foreign currency, MSMED).
? Preparing forex commitment report and providing input for hedging.
? Preparation of MIS for accounts payable section on monthly basis.
? MSMED & TDS compliance by filing monthly returns and Issuing TDS Certificates.
? Replying to Income Tax notices and making representation to AO whenever required.