MAYANK VERMA
CA (ICAI)| FINANCE PROFESSIONAL
Email : mynkv287@gmail.com Phone : +971 52 658 3307
Location : Dubai, UAE
LinkedIn : https://www.linkedin.com/in/ca-mayank-verma-65733a139/
PROFESSIONAL SUMMARY
Chartered Accountant with 8+ years of UAE and India experience across manufacturing, and industrial trading industries. Skilled in financial accounting, cashflow and treasury, budgeting, forecasting, trade finance, IFRS reporting, VAT compliance, Corporate Tax (UAE), internal controls, MIS reporting, and audit management. Proven ability to lead accounting teams, streamline financial operations, and enhance internal controls to support business profitability and performance.
CORE COMPETENCIES
Financial & Accounting : Financial Accounting, IFRS, Month-End Closing, Payroll & Cost Control.
Reporting : MIS, Financial Analysis, Budgeting, Forecasting, Variance Analysis.
Compliance : VAT, Corporate Tax, Audit Coordination, Internal Controls. Treasury : Cashflow, Treasury Ops, Banking Relations, Credit Facilities. Trade Finance : LC Negotiation, Trust Receipts, Documentation.
Tools : NetSuite, Omega ERP, Tally, Advanced Excel.
PROFESSIONAL EXPERIENCE
Unigulf Airconditioning Industries LLC - Dubai, UAE
(HVAC Manufacturing & Trading)
Financial Reporting, Audit and Compliance
Led month-end closing for multiple entities, overseeing journal entries, provisions, and adjustments (Prepaid Expenses, Depreciation, Visa Expense, Professional Fees) ensuring timely closure under IFRS reporting.
Supervised Bank Reconciliation across entities ensuring timely finalization for
monthly/quarterly/annual reporting.
Directed General Ledger & Control Account Reconciliations including Intercompany, Fixed Asset Register, VAT Payable, Prepaid Schedules, Credit Card & Visa Control accounts.
Presented MIS dashboards, Cashflow reports, and variance analysis to senior management for informed strategic planning and financial decision-making.
Managed consolidated UAE VAT filings for multi-entity structure, ensuring full compliance with FTA guidelines and accurate documentation.
Delivered comprehensive Monthly Stock & Sales MIS, ensuring accurate inventory valuation, sales performance tracking, and margin visibility.
Coordinated with Internal/external auditors ensuring availability of reconciliations, supporting documents and audit schedules.
Manufacturing, Costing & Inventory Control
Managed manufacturing finance operations including production entries, WIP booking, and raw material consumption tracking, keeping inventory and COGS accurately reflected in accounts.
Prepared daily production snapshot reports for top management with insights on output, consumption, efficiency & cost variances, supporting faster decision-making.
Reviewed and approved GRNs ensuring PO compliance, correct pricing, and accurate inventory valuation impacting costing and margin results.
Performed GP margin analysis across product & service portfolios, supporting pricing decisions and commercial profitability improvement.
Performed product costing & margin analysis, highlighting deviations vs. standards and recommending corrective actions for profitability improvement.
Ensured BOM (Bill of Material) accuracy, investigated consumption mismatches, and rectified irregularities for reliable material costing.
Prepared Sales & Stock MIS covering inventory ageing, movement trends, profitability, and
slow/non-moving stock analysis for operational planning.
Collaborated with Procurement & Stores to improve stock control, reduce variance, and ensure material availability without overstocking.
Treasury, Cashflow & Trade Finance Management
Led daily cash flow management with real-time visibility, optimising working capital utilisation and ensuring smooth execution of TR/LC-based trade finance operations.
Coordinated with banking partners (ARMs/RMs) to arrange Trust Receipt Loans and Avalisation, ensuring timely processing and seamless trade finance flow.
Planned supplier payments by aligning cashflow forecasts with raw material consumption and production requirements, ensuring uninterrupted procurement and smooth production flow.
Led monthly trade finance planning reviews with the team and coordinated with the Finance Manager to ensure timely and seamless execution.
Strengthened Accounts Payable (AP) processes by reviewing vendor credit terms, supplier coordination and improving working capital management & cashflow discipline.
Directed the accounts team on preparation of supplier payments (CDCs & PDCs) based on daily cashflow requirements.
Monitored, approved and ensured timely processing of ad-hoc payment requests such as credit cards and miscellaneous payables.
Key Achievements:
Reduced reconciliation discrepancies through stronger GL, bank, and sub-ledger controls.
Improved working capital cycle by 25% through tighter receivables & supplier management
Boosted liquidation of old stock by 20% via daily ageing tracking and targeted sales actions.
Reduced month-end closing time by 10 days, resulting in timely MIS reporting.
Assistant Finance Manager (Apr 2021 – Apr 2024)
Bhatia Brothers Group - Dubai, UAE
(Industrial Equipment Trading Group)
Accounting, Reporting & Compliance
Standardized accounting processes across GL, AP, AR, Fixed Assets, and Bank Reconciliations, ensuring compliance with IFRS reporting requirements.
Implemented month-end closing checklists, ensuring timely posting of accruals, amortizations, and period-end adjustments.
Conducted periodic ledger scrutiny & variance analysis, rectifying exceptions and improving reporting accuracy.
Directed preparation of budgets, rolling forecasts, IFRS-compliant financial statements, and MIS reports, supporting strategic decision-making.
Led group-level audit finalization, consolidation of accounts, and preparation of audit schedules and trial balances for year-end closure.
Handled quarterly Group VAT filings, ensuring timely and compliant submissions.
Treasury, Cashflow & Trade Finance Management
Led finance and accounts operations for EPC and industrial equipment divisions with a monthly turnover of approx. AED 3 Million, ensuring strong financial governance and business support.
Developed and presented daily cash flow dashboards, prioritizing collections and supplier payments while managing TR/LC-based settlements and monitoring due liabilities.
Managed payroll for 70+ employees through WPS.
Liaised with suppliers for payment scheduling, improving credit utilization and optimizing
working capital management.
Strengthened treasury controls through monitoring liquidity position, bank limits, and ensuring settlements are completed on due dates.
Directed the accounts team for preparation and release of supplier payments (CDCs/PDCs)
based on working capital cycle and credit terms.
Key Achievements:
Reduced trade finance cost by 10% through timely settlement of TR and LC.
Improved the working capital cycle by 20%.
Strengthened internal controls over accruals, provisions, and expense recognition, improving
month-end and year-end closing efficiency by 10 days.
Accounts Associate (Jan 2017 – Mar 2018)
Brivan Consultants Pvt Ltd - Delhi, India
(Accounting & Advisory Firm)
Prepared standalone and consolidated financials, managed GST, performed import/export trade accounting, and ledger finalization.
Coordinated statutory audits, and supported financial due diligence.
Provided GST implementation and compliance advisory, improving compliance accuracy.
Assisted in financial due diligence for the acquisition of Zbee India Pvt. Ltd. by Eicher Motors.
Reconstructed incomplete accounting records, improving financial data integrity & compliance.
Article Assistant (CA Training) (Aug 2012 – Sep 2016)
CA Ajeet Jalan & CA Rajesh Dhruv Khanna - Delhi, India
(CA Audit & Tax Firm)
Prepared financial statements and conducted ledger scrutiny.
Performed statutory, tax, and internal audits for clients.
Managed TDS calculations, TDS returns, and Income Tax filings.
Filed VAT/GST returns and maintained compliance documentation.
Supported ROC filings and company incorporations.
Provided assistance in tax planning and client advisory.
EDUCATION
Chartered Accountant (CA) – ICAI - 2021
PGDBA (Finance) – Symbiosis - 2016
B.Com (Hons.) – University of Delhi - 2014
CPA - In progress
PERSONAL DETAILS
Date of Birth : 19th Feb 1992
Nationality : India
Driving License : Valid UAE Driving License