Shaffi Bandasala Email & Phone Number

Dubai, Ae

Ras Al-Khaimah, United Arab Emirates

𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥: Streamlined inventory management processes, ensuring efficient stock flow and reducing overstock situations by 15%. Implemented effective purchase control measures, leading to cost savings and improved supplier relations.𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐑𝐞𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐢𝐧𝐠: Successfully restructured and redesigned the accounting software system, eliminating system bugs and enhancing overall operational efficiency. 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠: Led the preparation of monthly financial statements, ensuring accuracy and compliance with accounting standards. Developed and implemented robust financial controls and reporting processes.𝐁𝐮𝐝𝐠𝐞𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐢𝐧𝐠: Created detailed annual budgets and forecasts, tracking financial performance against these benchmarks, and providing insights for strategic planning.𝐕𝐞𝐧𝐝𝐨𝐫 𝐑𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬: Managed relationships with key vendors, negotiating payment terms, resolving discrepancies, and ensuring timely payments to maintain strong business partnerships.𝐏𝐚𝐲𝐫𝐨𝐥𝐥 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠: Supervised the implementation of the HR module, ensuring accurate and timely payroll processing for over 250 employees.𝐓𝐚𝐱 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞: Ensured compliance with UAE tax laws, including VAT returns and documentation, Corporate Tax Registration, minimizing the risk of penalties and fines.𝐀𝐮𝐝𝐢𝐭 𝐏𝐫𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧: Coordinated with external auditors for the annual financial audit, addressing queries, and providing necessary documentation to ensure a smooth and successful audit process.𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: Conducted financial analysis to identify cost-saving opportunities, leading to a 10% reduction in operating expenses within the first quarter.Problem Resolution: Resolved discrepancies in financial records, including bank reconciliations and vendor

Bengaluru, Karnataka, India

• Preparation and Finalization of Financial Statements• Managed payroll operations for team of employees.• Creation of Tax Invoice as per the CTC details received and follow up of Receivables on due dates• Leading a team of 8 recruiters, training, sourcing using Job portals like, LinkedIn, Naukri, Monster, etc• Reviewing profiles and interacting with the clients for further process• Arranging calls with client for the shortlisted candidates for interviews• Helping the client in on-boarding candidates by collecting required credentials• Preparing and Filing GSTR1 & GSTR3B on due dates• Reconciliation of GSTR2• Responsible to timely payment of Professional Tax, GST, TDS, Advance Tax• Preparing and presenting MIS Report on timely basis

Dubai, United Arab Emirates

Financial Reporting: Responsible for the accurate and timely preparation of financial statements, including income statements, balance sheets, and cash flow statements, for both standalone and consolidated entities. Oversaw the accounting team in recording and reconciling financial transactions while ensuring compliance with GAAP and IFRS standards.Budgeting and Forecasting: Led the development of annual budgets in collaboration with department heads and senior management. Created financial forecasts based on historical data and market trends to guide financial planning and monitored actual performance against budgets and forecasts, explaining any variances.Cost Management: Implemented cost control measures aimed at optimizing expenses. Identified opportunities for cost reduction and analyzed cost structures and drivers to make informed financial decisions.Cash Flow Management: Monitored daily cash flows to ensure liquidity for operational needs. Forecasted cash flow requirements to manage working capital effectively, managed cash reserves, and invested short-term funds to maximize returns.Taxation: Overseen tax compliance, including the preparation and filing of tax returns. Collaborated with tax experts to optimize tax strategies and minimize liabilities while staying updated on changes in tax laws and regulations affecting the organization.Audit and Compliance: Coordinated both internal and external audits (Big 4) to ensure the accuracy and completeness of financial records for the group of companies. Implemented and maintained internal controls to safeguard assets and address audit findings by implementing necessary corrective actions.Financial Risk Management: Identified and assessed financial risks, including currency, interest rate, and credit risks. Developed strategies for risk mitigation such as hedging and diversification and continuously monitored risk exposures to adjust strategies as needed.

Al Khobar, Eastern, Saudi Arabia

• Full control of all accounting/Inventory activities and ensure proper application of policies and procedures related to finance and accounting• Manages and distributes daily workload among the staffs• Leads a team work approach and be able to train, develop and appraise the accounting team• Checking, posting, ensuring & reviews all vouchers• Ensure that records & transactions are being maintained in accordance with the international accounting standards• Supervision of the team members& ensures they are carrying out all their tasks& responsibilities on a timely manner, manage doing effective Budgets and Cost Controlling• Preparation and presentation of MIS Reports to the management• Preparation and Finalization of Financial Statements• Create and post accrual entries• Bank Reconciliation and Fund Management• Directly delegating a team of four accounting staff to maintain up -to-date records of all transactions.

Certified Management Accountant, Finance And Financial Management Services

Master Of Business Administration - Mba, Finance, General, A+

Bachelor Of Commerce - B. Com, Income Tax, Costing, Auditing, Accounts