Praveen Kumar

• Prepared monthly MIS reports, providing key financial insights to senior management.
• Conducted monthly, quarterly, and yearly financial closings, ensuring accurate financial reporting.
• Prepared and finalized financial statements, including the Balance Sheet, Profit and Loss statement, and Cash Flow Statements.
• Conducted budgeting, forecasting, and variance analysis, identifying cost-saving opportunities.
• Conducted reconciliation of books with GSTR-3B, GSTR-1, and TDS returns to minimize tax discrepancies.
• Managed cash flow planning and fund management, ensuring smooth business operations.
• Handled income tax returns and corporate tax planning, ensuring compliance with regulatory requirements.
• Perform financial ratio analysis to assess company performance, and provide actionable insights to senior leadership.
• Assisted in SKU rationalization and customer profitability analysis, supporting strategic decision-making.
• Monitored raw material (RM) and packaging material (PM) availability, identifying stock mismatches between the system and physical inventory.
• Prepared and analyzed Drawing Power (DP) statements for working capital financing.
• Prepared and maintained the borrowing schedule, tracking term loans, working capital loans, and other credit facilities.
• Prepared and maintained detailed Property, Plant, and Equipment (PPE), and Intangible Assets schedules in accordance with accounting standards (e.g., GAAP, IFRS), ensuring accurate reporting and compliance.
• Developed SOPs (Standard Operating Procedures) for finance and accounting processes, ensuring best practices.

• Managed daily accounting operations, including voucher preparation, ledger maintenance, and journal entries in accounting software (Microsoft Dynamics, Tally ERP).
• Ensured GST and TDS compliance, including return filings, and reconciliations.
• Managed and maintained the Fixed Assets Register (FAR) in compliance with Accounting Standards (Ind AS 16) and the Income Tax Act.
• Managed the implementation and compliance with IND AS 116 (Leases), ensuring accurate accounting treatment for lease transactions, including operating and finance leases.
• Handled the accounting and treatment of security deposits in compliance with IND AS 109 and IND AS 37, ensuring proper recognition of refundable and non-refundable deposits.
• Maintained export documentation, including invoices, shipping bills, and foreign exchange transactions.
• Prepared and maintained detailed prepaid expenses schedules, ensuring accurate allocation and amortization of prepaid costs over the relevant periods, as per accounting standards.
• Oversaw accounts payable and receivable, ensuring timely payments and collections to maintain cash flow.
• Ensured bank reconciliations, vendor reconciliations, and intercompany accounting accuracy.
• Processed bank payments, vendor payments.
• Assisted in statutory audits, tax audits, and internal audits, preparing financial records for auditors.
• Ensured proper documentation of financial transactions, maintaining audit readiness.

Statutory Audit

• Finalization of financial statements, including notes to accounts.
• Verification and vouching of all items of financial statements, including:
• Verification of opening balances with last year's figures.
• Sales and purchase reconciliation with GST returns.
• Valuation of closing stock as per AS-2/Ind AS-2.
• Proper verification of direct and indirect expenses, and related agreements.
• Statutory dues reconciliation, such as GST, PF, TDS payable, and ESI.
• Verification of fixed assets, addition/deletion, their capitalization, and depreciation computation as per Schedule II.
• Computation of income tax and deferred tax.

Tax Audit

• Reviewed the Balance Sheet and Profit and Loss Account to check for compliance with the Income Tax Act.
• Various clauses of Form 3CD, including:
• Correct Deduction and Deposit of TDS under Various Sections.
• Collection, deduction, and deposit of PF, ESI.
• Allowances and disallowances of expenses under all the clauses of Section 43B, on a payment basis.
• Verification of fixed assets on a block-wise basis, addition/deletion, and depreciation calculation.
• Checking of Clause 34 regarding TDS deduction.

• Statutory audits, tax audits, and internal audits for clients in various industries, ensuring compliance with accounting standards.
• ROC filings, including Annual Returns (AOC-4, MGT-7), incorporation documents, and other statutory forms.
• Prepared audit reports, management letters, and observations for process improvements.
• Reconciled expenses and financial records.
• Assisted in preparation and filing of tax returns for individuals and businesses.