Mostafa Fawzy
Woodbridge,ON
Summary
Proven financial expert with extensive experience in full-cycle accounting and cost analysis, notably at Egyptair Holding Co. Achieved significant process improvements and cost reductions through analytical research and SAP ERP system proficiency. Demonstrates strong capabilities in internal controls and financial auditing, ensuring accuracy and compliance.
Overview
16
16
years of professional experience
1
1
Certification
Work History
General Accountant, Financial Reporting
Dass Metal Products
08.2023 - Current
- Trial Balance Review: Conduct thorough reviews of the trial balance and provide necessary adjustment recommendations to accountants.
- Accounts Monitoring: Oversee and manage the accounts payable (AP) and accounts receivable (AR) processes.
- Bank Reconciliation: Prepare and complete bank reconciliations to ensure accurate financial records.
- Asset Accounting: Handle accounting for assets, including calculating depreciation and amortization.
- Lease Calculations: Calculate the right of use assets by determining the present value, interest inherent in lease payments, and financial lease liabilities.
- Credit Management: Manage the accounting processes for letters of credit.
- Financial Reporting: Generate comprehensive reports for top management, including sales analysis for various business segments, maturity analysis for lease and long-term liabilities, balance sheets, income statements, and cash flow statements for each division. Ensure inclusion of all relevant ratios and required disclosures.
- Process Streamlining: Enhance financial reporting accuracy by streamlining accounting processes and implementing internal controls.
- Ad Hoc Reporting: Prepare ad hoc reports as requested by management, delivering insights into specific areas of financial performance or concern.
- Intercompany Transactions: Streamline intercompany transactions, ensuring timely recording and eliminating errors due to miscommunication between departments.
- Cost Reduction: Contribute to cost reduction initiatives by identifying opportunities for process improvements within the accounting function.
- Forecasting and Budgeting: Collaborate with cross-functional teams to develop accurate forecasts and budgets, driving informed business decisions.
- Ledger Maintenance: Maintain accurate general ledger accounts through regular reconciliations, resolving discrepancies promptly.
Cost Accounting Analyst
Dass Metal Products
12.2022 - 06.2023
- Cost Analysis: Examine all cost factors in a manufacturing company, including direct labor, direct material, work in process, finished goods, and manufacturing overhead. Determine the proper cost driver and allocation base, verify the cost flow until finished goods are available for sale, and manage the bill of materials.
- Reporting and Analysis: Generate detailed reports such as production and profitability per finished goods and per machine, scrap percentage per machine operator and per machine, and analyze reasons and opportunity costs.
- Data Monitoring: Oversee data flow between three different software systems (machine operating system, inventory management, and middleware connection).
- Budgeting: Develop production budgets, material budgets, and expected cash disbursements. Conduct sales analysis and study customer behavior.
- Inventory Management: Monitor inventory cycle counts, identify reasons for discrepancies between ERP on-hand counts and physical counts, and improve inventory valuation accuracy through thorough physical inventory counts and reconciliations.
- Collaboration: Partner with operations teams to develop accurate standard cost models, facilitating informed decisions on product pricing and profitability. Collaborate with cross-functional teams for effective cost control measures, leading to reduced operational expenses.
- Activity-Based Costing: Support the implementation of activity-based costing initiatives to enhance understanding of product profitability drivers across the organization.
- Variance Analysis: Develop comprehensive variance analyses, identifying areas for potential cost savings and process improvements.
- Process Improvement: Reduce errors in financial reports by implementing precise cost allocation methods and regular reconciliations. Streamline financial data by improving cost accounting practices and creating efficient processes.
- Budget Preparation: Assist in annual budget preparation, ensuring all costs are accurately accounted for and aligned with company objectives. Enhance budget management by providing accurate and timely cost information to decision-makers.
- Software Implementation: Implement new cost accounting software, resulting in more accurate reporting and easier analysis of financial data.
- Supplier Contract Evaluation: Evaluate supplier contracts for optimal pricing terms, contributing to lower purchasing costs without compromising quality or delivery timelines.
- Production Process Analysis: Analyze production processes, identifying opportunities for increased efficiency and reduced manufacturing costs.
Chief Accountant
Egyptair Holding Co. Headquarter Southern Building
02.2018 - 12.2022
- Calculated tax owed, prepared, and submitted returns and upheld compliance with all applicable laws.
- Handled month-end and year-end end finances by managing and reporting fixed assets and other data.
- Established strong relationships with external partners such as banks, auditors, and tax consultants to ensure smooth interactions and compliance.
- Completed year-end closing processes with controllers and external auditors.
- Developed annual budgets in collaboration with senior management, aligning resources with company objectives.
- Maintained accurate financial records by overseeing general ledger reconciliation efforts on a monthly basis.
- Reconciled balance sheets and streamlined best practices for balance sheet processes.
General Accountant
Egyptair Holding Co. Headquarter Southern Building
02.2008 - 01.2018
- Managed accounts payable and receivable functions, maintaining accurate records and timely payments to vendors while collecting outstanding invoices.
- Supported month-end closing process by preparing financial statements, variance analyses, and account reconciliations.
- Assisted with budget preparation, monitoring expenses, and providing timely updates to management on variances.
- Improved financial accuracy by conducting thorough account reconciliations and adjusting journal entries.
- Prepared detailed cash flow analyses for management review, highlighting potential areas of concern related to liquidity issues or potential shortfalls in operating funds.
Education
FAR , AUDIT (CPA , USA ) - Advanced Accounting
American University in Cairo
Tahrir , Cairo, Egypt01.2017
CMA - Advanced Accounting And Finance
IMA , Institute of Management Accountants
New Jersey , USA01.2016
Bachelor of Accounting - Accounting And Finance
Tanta , University
Egypt 05.2004
Skills
- Full-cycle accounting
- Fixed Asset Accounting
- Intercompany Transactions
- IFRS Knowledge
- GAAP understanding
- Internal Controls
- Tax Return Preparation
- Cost accounting
- Variance Analysis
- Financial Statements
- Cash Flow analysis
- Budget Analysis
- Financial Auditing
- Budget Analysis
- MS Office Suite - Excel ( Power Query , VBA )
- Power BI
- SAP ERP System Proficiency
- Quickbooks
- ABIS , PS Data , Eclipse Pro , AMS Controller
- Analytical research
Accomplishments
I am committed to completing my CPA certification in the USA and learning Python programming Language.
Languages
English
Professional Working
Arabic
Native or Bilingual
Certification
- CMA - Certified Management Accountant
Timeline
General Accountant, Financial Reporting
Dass Metal Products
08.2023 - Current
Cost Accounting Analyst
Dass Metal Products
12.2022 - 06.2023
Chief Accountant
Egyptair Holding Co. Headquarter Southern Building
02.2018 - 12.2022
General Accountant
Egyptair Holding Co. Headquarter Southern Building
02.2008 - 01.2018
FAR , AUDIT (CPA , USA ) - Advanced Accounting
American University in Cairo
CMA - Advanced Accounting And Finance
IMA , Institute of Management Accountants
Bachelor of Accounting - Accounting And Finance
Tanta , University