Palash Rajani
Pune
Summary
Result oriented and self-driven individual with more than more than 8 years of experience which includes Indian Accounting, US GAAP, UK and European Accounting and Auditing. Adept at managing financial team, completing financial reports and statements.
Overview
13
13
years of professional experience
Work History
Assistant Manager - Accounting
Resonant Clinical Solutions Divested from VWR Lab Products Pvt Ltd(Part of Avantor)
Pune
09.2023 - Current
- Managing a team that has the responsibility of controllership for the UK, the US, and European entities, and influencing skills to achieve functional objectives and goals.
- Management of month-end close accounts and US GAAP reporting information.
- Preparation and Review of Consolidated Financial Statements and Management Reporting.
- Handling the Treasury function, which involves managing fund transfers, approving payments, and reviewing bank reconciliations.
- Review of Judgmental Reserves.
- Flux review of BS and P&L, with appropriate commentary.
- Review of balance sheet reconciliations in Blackline, providing inputs for the improvement of the reconciliation process, taking follow-up on the open items, and ensuring their timely closure.
- Review and upload of the Onesource tax upload file.
- Responsible for ensuring the integrity of financial operations and the smooth operation of monthly accounting operations.
- Successfully managed multiple transitions. Learned the process and imparted the learning to the team seamlessly.
- Recruited and trained new employees to meet job requirements.
- Open items reporting and monthly call with stakeholders.
- Coordination with the teams for various audit requests, resolving the queries raised by auditors, and ensuring smooth closure.
- Collaboration with FP&A Finance colleagues to analyze expense trends and current operational events that would impact current accruals and expense estimates.
- Ensuring compliance with internal SOX controls processes, monitoring the effectiveness of controls, and actively engaging to drive remediation when control deficiencies arise.
- Proving support to AP, AR, and other teams to help resolve their queries.
- Building various models, like LCM/NRV provision, credit note reserves, sales, and US tax reconciliation, etc.
- Performing quality testing of transactions in SAP during the movement of business from other entities, ensuring its completeness and effectiveness.
Manager Finance and Accounts
Maschio Gaspardo India Private Limited
Pune
11.2021 - 09.2023
- Rich experience in entire gamut of accounting and finance operations entailing preparation and maintenance of statutory books of accounts and administering the finalisation of year - end financials statements
- Experience in preparing and budgeting cash flows forecast
- Obtaining monthly projections from various departments and ensuring funds are arranged in the most cost effective manner to match accurate cash flow forecast and ensuring that there is no shortage of cash in hand
- Experienced in performing month various closing activities involving below key activities:
- A) Review of Transaction booking ensuring accuracy & completeness
- B) Review of GL accounts including intercompany reconciliation, Fixed Assets Register, Cwip monitoring and assets capitalisation and review of other schedules
- C) Obtaining & reviewing provisions and accruals from various department
- D) Analysing the current year expenses against previous year and budgeted forecast and drafting the comments for variation
- E) Preparation of additional depreciation working, forex fluctuation posting
- F) Preparation of various reports includes i) P&L analysis report with comments ii) Monthly Reporting Pack iii) Divisional/Segmental Report iv) Slow/non moving inventory report v) Employee travel expenses report
- Periodic review of age wise analysis of accounts payables and receivables statements and balance sheets
- Actively building and managing the relationships and interface with internal team and deal advisory professionals
- Review of agreements to be entered by company and getting resolution of unfavourable points in favour of company
- Checking posting of previous day transactions to ensure that booking is done into right Expense/Income/Asset/Liability GL, with correct cost/profit center
- Checking if all the customer and vendor ledgers are cleared timely
- Liaisoning with Sales Team, Preparing credit management report and action on Overdue debtors
- Preparation of Financials as per schedule III of the Companies Act 2013 including including schedules and Note to Accounts
- Oversee annual /periodic internal audit, statutory audit & tax audit by auditors and compliance of internal auditors report on in order to complete smooth functioning of annual audits function
- Drafting of SOP's on timely basis inorder to remove deficiencies in internal control
Assistant Manager
Price Waterhouse Cooper (PwC)
Mumbai
04.2017 - 10.2021
- Worked on a diverse portfolio of clients ranging from small private companies to large multi-nationals, including some that are listed on stock exchanges
- Understanding and evaluating internal control systems, identifying control weaknesses and making appropriate recommendations to the management
- Responsible for overall management, planning and execution of statutory audits using PwC's globally adopted audit methodology
- Practical knowledge of financial reporting standards (including IndAS/IFRS), local corporate laws
- Analytical review of financial statements, basic advising to the management on accounting, taxation and related technical matters
- Ensured application IFRS16/ IND AS 116 - Leases i) Prepared IFRS16/ IND AS 116 process note ii) Resolved the queries IFRS16/ IND AS 116 raised by client
- Iii) Prepared the Reconciliation between IFRS16/ IND AS 116 system with the source information system (Lease contract details) and resolved the inconsistencies between both the systems
- Resolution of accounting/technical issue raised by client
- Ensuring members of the audit team communicate, interact and collaborate effectively
- Act with objectivity, independence and integrity at all times
- Actively involved in mentoring and training staff members to ensure their personal development is addressed, thus promoting a culture of high performance
- Delegation of appropriate work to junior staff and review of their work in structured format
- Providing timely feedback to partner/manager in relation to ongoing job performance with a view to avoiding surprises
- Review and finalisation of financials including preparation of audit reports, Letter of Representations, Group Reporting Deliverables and presentations to management
- Reporting on clauses of Form 3CD and Form 3CEB as per provisions of Income Tax Act 1961 and Transfer Pricing Regulation
- Preparation and review of Certifications like RBI certification on account of forward contracts, MCA certificates like DPT3
Article Assistant
Demble Ramani & Co.
Nagpur
01.2012 - 12.2015
- Conducted Statutory audits & Tax audits for various category of clients including listed companies, private companies, schools & charitable trusts
- Prepared & reviewed financial statements & complied the requirements of Schedule III of the Companies Act , Auditing & Accounting Standards
- Filed the financial statements of various companies under Extensible Business Reporting Language (XBRL) & various other statutory filings
- Vat audits, filing of Vat returns & related procedural work
Education
Chartered Accountant -
Institute of Chartered Accountants of India (ICAI)
11-2016
Bachelor Of Commerce -
Rashtra Sant Tukdoji Maharaj Nagpur University
01-2014
Higher Secondary School Certificate (HSC) -
Maharashtra State Board
02-2011
Secondary School Certificate (SSC) -
Maharashtra State Board
03-2009
Skills
- Auditing
- Team Management
- Project Management
- Month end Reporting
- Financial Reporting
- Accounts Reconciliation
- Accounts Receivable
- Accounts Payable
- GAAP Understanding
- End to End Accounting
Accomplishments
- Received Client appreciation and Manager appreciation award working with PwC.
- Received impact award for clinical services audit excellence and accountability working with Avantor.
System Proficiency
- Well conversant with Microsoft Office, SAP, ERP, EXBACE software (XBRL Reporting) and other customised softwares.
- Worked on Blackline Reconciliations, One source tax reporting, Fiori PO Creation.
Personal Information
- Qualification: Chartered Accountant, Bcom.
- Date of Birth: 26/02/1993
- Gender: Male
- Nationality: Indian
- Marital Status: Married
Languages
- English, Advanced
- Hindi, Advanced
- Marathi, Intermediate
Hobbies and Interests
- Cricket
- Fitness Enthusiast
- Learning New Things
Disclaimer
I hereby declare that the above information is true & correct to the best of my knowledge & belief.
Timeline
Assistant Manager - Accounting
Resonant Clinical Solutions Divested from VWR Lab Products Pvt Ltd(Part of Avantor)
09.2023 - Current
Manager Finance and Accounts
Maschio Gaspardo India Private Limited
11.2021 - 09.2023
Assistant Manager
Price Waterhouse Cooper (PwC)
04.2017 - 10.2021
Article Assistant
Demble Ramani & Co.
01.2012 - 12.2015
Chartered Accountant -
Institute of Chartered Accountants of India (ICAI)
Bachelor Of Commerce -
Rashtra Sant Tukdoji Maharaj Nagpur University
Higher Secondary School Certificate (HSC) -
Maharashtra State Board
Secondary School Certificate (SSC) -
Maharashtra State Board
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