Palak Mendiratta

Preparation of Financial Statements

• Assisted in checking all General ledgers, closing of monthly provisions and finalizing Trial balance on monthly basis
• Preparation of Closing Inventory Valuation Report As per IND AS-2, Raw Material and Merchandize
• Ageing Reports and stock Provision
• Preparation of Comparative Profit and Loss Account, Balance sheet and Cash flow Statements on monthly basis
• Preparation of Fixed Asset Schedule and Posting Depreciation on monthly basis
• Worked on Merger of Panasonic with Anchor
• Worked on ERP implementation

Forecast and Analysis

• Preparation of Forecasted Profit & Loss, Balance Sheet and Cash flow Statement for next quarter as per reporting requirements of Japan
• Preparation of Business Summary of Next Quarter reflecting therein major expenditure on Fixed Asset and change in any Head count
• Reporting Actual as well as Flash Sales of the month along with comparative Information of last forecast and business plan

Reporting Requirements

• Submission of Accounting Settlement Reports on monthly basis to Japan as per there deadlines
• Preparation of Forex Report as well as Loan and Deposit Schedule
• Assisted in preparing Annual Reports
• Created detailed financial reports based on financial statuses and data.
• Followed all GAAP standards and complied with regulations when setting up accounts, ledgers and reporting systems.
• Developed and trained client staff in managing accounting and bookkeeping systems.
• Designed and executed audits while coordinating efforts to obtain control and financial documentation.

Statutory Audits and Internal Audits

• Assisted with various audits including Direct and Indirect Tax Audit and Internal audit for ZARA
• Massimo Dutti and ITX(Sourcing department of all Inditex Brands)
• Understanding the data requirements and providing requested data to auditors
• Resolving and handling audit queries

Managing statutory compliances

• Manage various statutory compliances including taxation compliances (Direct taxation and Indirect taxation) o Exclusively handling computation of Tax deducted at source (TDS) and Goods and service tax (GST) on monthly basis
• Reconciling company accounts with Form 3B and 2A for GST Audit o Assist in preparation of Financial Statements as per statutory requirements
• Preparation and filing (including e-filing) of required forms and returns with respective Authorities
• Ran feasibility analyses to inform investments and partnerships.
• Analyzed financial statements against forecasts to prepare high-level variance analysis.

Other responsibilities

• Working on customized applications of company and generating reports as per the requirements of senior authorities
• Assist in Monthly Closing activities
• Preparation of Payment logs for Legal & Taxation vendors bimonthly

• Preparation of Financial Statements for Corporate and Non-corporate entities
• Consolidation of day-to-day accounts and finalization of Books of Accounts for various Individuals and Firms
• Preparation and filing (including e-filing) of required forms and returns as per statutory compliance
• Preparation and filing of GST Returns on monthly basis for various clients.
• Developed financial models, analytics and automated reporting and forecasting tools to increase productivity.

• Handling TDS work, Income Tax work, Service Tax Work and VAT assignments
• Preparing Tax audit reports
• Finalization of books of clients
• Maintenance of books of accounts
• Conducted Statutory audit, Revenue audit and concurrent audit of Bank of India, Syndicate Bank and Allahabad Bank respectively:
• Performing cash verification
• Verifying loan accounts, performing preliminary check, disbursement inspection etc
• Scrutinizing compliance with KYC norms
• Verifying loan accounts, performing preliminary check disbursement inspection etc
• Cash balance verification
• Checking CIBIL (Central Information Bureau of India Ltd.) report
• Identifying revenue leakages
• Checking Locker rent, Inspection charges, Processing charges on fresh loan sanctions, documentation charges etc.
• Sorted and organized files, spreadsheets, and reports.
• Analyzed problems and worked with teams to develop solutions.