CAREER SUMARY
More than 13 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, Saudi Arabia, Nigeria 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
• FIXED ASSETS MANAGEMENT
• INTERNAL CONTROL
• STATUTORY AUDIT
• INTERNAL AUDIT
• BANKING
• TAXATION
• COMPLIANCE
• POLICY & PROCEDURES
• TEAM MANAGEMENT ? Manage the preparation of the Monthly, Quarterly, and Annual reporting for P&L and cash flow in accordance with Group reporting requirements.
? Formulating the budgets & forecasts and conducting periodic variance analysis of actual results against the budget.
? To monitor the cash flow cycle and preparing cash flow forecast on monthly basis, reporting on the company’s existing cash position and highlighting any anticipated cash calls (if any) from the partners to meet the operational cash needs.
? Preparation of MIS reports including P&L and Balance Sheet to provide feedback to the top management on the financial and operational performance of the company.
? To ensure the adequacy of the internal financial controls and recommend changes, in consultation with Head of Finance in order to achieve the financial objectives.
? Continuous review and up gradation of the systems, process, policies & procedures in order to the successful accomplishment of the organizational objectives.
? Overseeing management of AR and AP function, to ensure timely billing and collection with clear reporting of cash flow position and review the progress payment claims from contractors against terms of the contract.
? Responsible for overseeing accounting procedures in accordance with international financial reporting standards.
? Coordinating with internal and external auditors by providing them required information to conclude the audit in a timely manner.
? To monitor capitalization of assets, their retirement or transfer and disposal.
? Liaison with banks, overlook taxation and secretarial matters, in consultation with consultant.
? Communicating job expectation, planning, monitoring, and appraising job contributions of the team members.
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.
? Monitor day-to-day accounting operations, viz. AP, AR, GL and bank accounting locally and through Global Business Accounting Services (GBS) teams in India.
? Providing guidance to the team (local & outside) on complex accounting transactions to ensure quality, integrity and accuracy of accounting & financial reporting.
? 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.