DHANANJAY LAKDEY
Contact No.: +971-557516853 E-Mail: dhananjaylakdey@gmail.com
Seeking managerial positions in Finance / Budgeting / Auditing with a high growth-driven organisation.
PROFESSIONAL PROFILE
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? Chartered Accountant with 16 years of experience in Financial Planning, Accounting, Budgeting and Internal Auditing within Oil & Gas Industry, Real Estate, Entertainment Industry and Audit firms.
? Awarded Best Paper from Institute of Chartered Accountants of India.
? Awarded Best Report from past employer in Internal Audit – Aneja Associates.
? Deftness in the preparation, maintenance, consolidation & finalization of accounts, audits, MIS and KPI.
? Adept at development of financial policies/ guidelines for achieving management objectives.
? Dexterity in formulating & preparing Scope of Audit, Audit Plans, Audit Program and Audit Reports with recommendation & suggestion for improvement in internal control system.
? Liaising with other members of the management team and General Managers/Business Unit Managers to improve financial processes, maximising efficiency and improving financial performance and provide ad-hoc financial and management reports.
CORE COMPETENCIES
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Financial Planning/ Budgeting
? Experienced professional in preparing monthly and quarterly profit & loss and cash flow forecast, budgets and providing critical commentary on variance analysis and implementing corrective actions.
? Redesigned Labour Time & Attendance process resulting in increase of overhead recovery by USD 240k.
Accounting Functions
? Designing and implementing policy & procedures, and handling the preparation of financial statements & annual reports as per GAAP. Designed and implemented policy for Labour Time & Attendance, Petty Cash, Pay Slip Issue and Gross Margin Forecasting.
? Designing & presenting MIS & KPI reports to provide feedback to top management on financial performance.
? Prepare and Analyse revenue statement, expenses, gross and net margin, aged receivables and payables report.
? Managing end to end preparation, finalisation and maintenance of complete Book of Accounts.
? Appointed and coordinated with external auditors for successful completion of audit.
? Lead & managed age-wise analysis of debtor accounts resulting in recovery of USD 814k from AR 90.
? Improved Working Capital Management by reducing Work in Progress by USD 343k.
Auditing & Internal Control & System Review
? Exposure to SOX compliance, evaluating existence and effectiveness of internal control systems & procedures, preparing audit reports with a view to highlight the shortcomings and implementing necessary recommendations.
? Reviewing existing processes and systems in the organization, and accordingly devising & implementing measures for ensuring higher operational efficiency.
CAREER HIGHLIGHTS
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May 19 - Till Present Finance Manager - Idea Crate Edutainment Company LLC, Orange Wheels, Orange Hub and Orange Seeds Nursery.
Idea Crate Edutainment Company is a multi-faceted company with a vision to create a niche in both Children’s Education & Family Entertainment industry. The Company aims at operating paramount schools, nurseries ( Orange Seeds Nurseries), indoor/outdoor play areas (Orange Wheels), and amusement centres (Orange Hub), which will also be a hub for the entire family in the region and across the globe.
Key Achievements and Deliverables:
? Providing input to Senior Management and implementing policies and procedures for all areas of business processes.
? Establish, modify, document and coordinate implementation of accounting control procedures.
? Conduct Internal Audit of other departments on quarterly basis and submit report to the CEO.
? Preparation of economic and financial feasibility study for prospective locations and new business ideas.
? Conduct feasibility studies of business proposals as and when advised by the CEO.
? Prepare financial statements for business development projects.
? Ensuring that all finances are properly administered and monitored, including credit control functions.
? Preparing and reviewing detailed annual budgets for approval by management.
? Conducting reviews and evaluations to explore & implement cost-reduction opportunities
? Preparation of monthly and annual cash flow projections and submitting to CEO.
? Providing suitable short term and long term solution for cash management.
? Producing accurate financial reports to specific deadlines.
? Preparing and processing payroll.
? Managing the company's financial accounting, monitoring and reporting systems.
? Preparation and submission of interim/ annual financial statements and submitting to the clients & Senior Management on a timely basis.
? Managing the Accounting and Finance Function of IdeaCrate Edutainment LLC, Orange Wheel Kids Game Hall LLC, Orange Seeds Nursery LLC and Orange Hub Game Centre LLC, across UAE.
? Successfully conducted audit of 2017 and 2018 for all group entity.
2013 – April 19 Finance Manager SJH Interior Decoration LLC
? Screening new projects, defining project description & scope and conducting feasibility studies to determine the financial viability of new ventures projecting cash flow & growth opportunities.
? Prepare comprehensive financial models for various projects to deliver cash flow forecast, scenario analysis, risk assessment and return analysis.
? Prepared timely and accurate periodic financial statements, profit and loss statement including budgets, cash flows, variance analysis and commentaries.
? Managing and verifying the payroll, payables, receivables, petty cash, bank reconciliation.
? Inventory management
? Work with project teams to ensure timely compliance with all conditions precedent and other obligations.
? Support senior management on various financing related matters on an ongoing basis.
? Assisted an international group of companies in establishing their trading company in Dubai. Project evolved identifying location and establishing trading company, recruiting staff, developing accounting system and business development.
? Negotiated a restaurant takeover and drafted purchase agreement, assisted in financing the project and handling smooth legal transfer of business.
2011- 2012 Business Finance Manager Wood Group Engineering Services, Abu Dhabi
Abu Dhabi unit is part of Wood Group Gas Turbine Services (Oil & Gas Industry) with focus on refurbishment & repair of valves, pumps and field service activity having turnover of USD 20 million with more than 200 employees. Overall Group turnover USD 6 billion employing more than 35,000 people.
Key Achievements and Deliverables:
? Lead and managed recovery of USD 814k (91%) of accounts receivable which were outstanding for more than 90 days in 6 month time frame which resulted in DSO falling by 18 days.
? Controlled and managed Work In Progress open for more than 90 days and reduce it by USD 343k (66%) in 6 months time frame resulting in improvement of working capital management.
? Lead the recovery of old retention amount of USD 140k.
? Developed Gross Margin Forecasting process resulting in less than 10% variation from actual margins.
? Designed and introduced Work Order Closure Check List which resulted in elimination of late cost by USD 90k.
? Analysed contract labour utilisation for 5 contractors were labour utilisation varied from 42% to 99% resulting in optimum utilisation of contractors and increasing average contract labour utilisation by 20 % with cost saving of USD 120k per annum.
? Redesigned & implemented LT&A process which resulted in increase in overhead recovery by USD 240k, timely booking of cost to correct jobs and providing accurate margins on individual jobs.
? Supported production manager by designing Labour Time & Attendance Daily Tracker to monitor progress on jobs and allocate manpower to achieve optimum utilisation of resources.
? Solved complaints from workers by designing and implementing Pay Slip Issue Process which enabled company to provide workers in advance details for overtime payment and site allowance payment.
? Trained and educated employees on Business Continuity Management Plan.
? Participated in company’s HSE training, initiatives and promoted safe work culture.
? Responsible for preparing all financial plans, budgets & forecasts for the businesses and providing critical appraisal and commentary on them as per company policy and timetables.
? Designing and preparing monthly Business Unit Reports, KPI and MIS Reports.
? Mapping continuous improvement areas to develop ‘best practice’ and achieving consistency across the region by rolling out Petty Cash Issue Process with proper internal controls.
? Ensuring that appropriate provisions are made for Warranty Costs, Bad Debts, Inventory and WIP.
? Monitoring timely month end closing, intercompany balances and preparing monthly financial statements.
Jan’09 – Dec’10 Senior Professional – Budget Accounting J.Ray Mc Dermott, JAFZA, Dubai
A subsidiary of McDermott and is a world class EPCI service provider in oil & gas industry with global revenue of USD 6 billion and employing more than 50,000 employees worldwide.
Key Achievements and Deliverables:
? Responsible for meeting deadlines and prioritizing tasks.
? Prepared forecasts on monthly and quarterly basis including forecast for capital expenditure projects.
? Prepared timely and accurate periodic financial statements, profit and loss statement including budgets, cash flows, variance analysis and commentaries.
? Coordinate and provided financial data to non- financial managers and assisted them in decision making.
? Designed Monthly Cost Analysis Report and Headcount Analysis Report for cost center managers.
? Ensured costs are correctly allocated and reallocated the cost on monthly basis.
? Established Standard Cost on annual basis and prepared proposal for Authorization for Capital Expenditure.
May’08 – Dec’08 Accounts Manager Rocky Real Estate, Dubai
Company operates into leasing and freehold property business within UAE and has revenue of USD 5 million employing more than 200 employees.
Key Achievements and Deliverables:
? Spearheaded and mentored a team of 6 accounts executive.
? Delegated work to other members of the company team.
? Approved Accounts Payable and Petty Cash Expenses as well as monitored preparation and cancellation of Settlements, Accounts Receivable, Journal Vouchers, DEWA payments, Leave and Loan applications.
? Conducted daily review of bank transaction, cheque discounting and correspondence with bank.
? Responsible for preparing Cash Flow and Financial Statements and Bank Reconciliation.
? /Responsible for preparing MIS reports like Rental Turnover Building wise, Building wise Rental receipts and payments, Landlord wise contracts and payments for negotiation strategy, Area wise rental payment and receipts, Commission reports area and salesmen wise, Maintenance cost report, Vacancy Report.
? Controlling master files for creation of new Vendors, Account heads and Sub Ledger, Buildings, Staff, Vehicles, Land Lord and Tenants.
Oct’06 – Apr’08 Assistant Manager - Internal Audit Aneja Associates, Mumbai
Company operates exclusively into internal audits and employees more than 300 Chartered Accountants.
Key Achievements and Deliverables:
? Awarded Best Report for audit at NRB Bearings.
? Analysed Internal Controls, its existence and effectiveness and policy review in various areas, viz. Stores & Inventory Management, Production and Quality, Third Party Operations, Purchase Operations, Excise, Human Resource, CFA Operations, Fund Management, Logistics & Marketing.
? Assisting companies in SOX compliance by identifying their business processes, documenting process flow and design of controls, evaluate effectiveness of design and internal controls, identifying remediate internal control weaknesses over financial reporting, providing independent audit assurance and establishing procedure for ongoing monitoring to enable certification.
? Handled internal audits for clients like RPG Life Science, MARICO , Meta Strips & Alloys, PMP Components, NRB Bearings, Merck Ltd, Sherwin Williams, Cadila and Sunfarma, Automotive, etc.
Commenced career with Nitin Alshi & CO, Chartered Accountants, Nagpur as Audit Assistant. (Jan’04 – Jan’06)
ACADEMIA
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Diploma in Information System Audit ICAI 2007
Chartered Accountant ICAI 2006
Bachelor of Commerce Nagpur University 2001
IT FORTE
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? Well-versed with MS Office (Word, Excel & PowerPoint), Tally 5.4, SAP R3, ERP and Visaer.