Somnath Sarkar Email & Phone Number

Bengaluru, Ka, In

Bengaluru, Karnataka, India

India

Bengaluru, Karnataka, India

• Controlled all aspects of corporate accounting and financial reporting activity for the group under multiple GAAPs like US GAAP, IND AS, SFRS etc. The group has more than 20 legal entities• Implemented IND AS framework for the Indian subsidiaries• Part of financial reporting team for implementation of IPO for the group• Managed relationship with big four audit firms for quarterly audit, annual audit and internal audit for the group entities• Set, enforced and optimized internal policies to maintain efficiency and responsiveness for the group entities• Liaised with team members and business stakeholders to coordinate activities, provisioning, process setup, risk mitigation and follow-up• Reduced overtime expense by analysing budget matrix, identifying and resolving budget-to-actual discrepancies• Reduced Selling, General and Administrative (SG&A) expenses by developing Travel and Entertainment policy and procedure, ensuring defined controls

Bengaluru, Karnataka, India

• Preparation and summarization of IND AS standards, first time adoption plan of IND AS conversion and impact analysis on the organization due to conversion into IND AS from I GAAP, saving the organization cost of outside consultant.• Preparation of consolidated and standalone financials as per IND AS, US GAAP & SFRS.• Preparation and review of related party transactions, rent equalization schedule, fixed asset register, Inter-company transactions and balance reconciliation of 23 legal entities of the organization.• Headed GL team for timely and accurate monthly book closure by preparing and following book closure calendar and interdependency calendar and resolved recurring issues through dialogues with higher ups in other departments and reduced book closure timeline by 1 working day.• Prepared a second line in controllership team and got involved in technical aspects of various unique transactions, involved in reviews and train other functions on routine accounting matters. • Headed the project of data migration activities in the organization after liasioning with IT team in case of entity merger & new module implementation in Oracle.• Liasioning with auditors and legal team for statutory and internal audit.• Creation and review of process documents at a group entity level and participated in functional maturity audits within the organization.

Bangalore

• Identified improvement changes regarding key processes for internal controls and accounting procedures• Produced MIS reports and CXO reports outlining financial data to assist management with making strategic plans and operational decisions• Created organizational structures to improve accounting and finance functions for the group and subsidiaries• Decreased monthly expenditures by through effectively reviewing and identifying problem areas• Assessed budget plans and present costs to forecast trends and recommend changes• Performed spending analysis and partnerships to refine policies and develop recommendations for improvement• Executed core financial processes, including vendor setup and payment, operational expenses, administration of bank accounts and account reconciliations• Trained new and existing staff members in various financial procedures to help each prepare for job requirements• Complied with established internal controls and policies

Bangalore

• Reviewed and managed financial statements per statutory timelines• Met deadlines by proactively managing individual and team tasks and implementing processes• Assessed budget plans and present costs to forecast trends and recommend changes• Managed financial, bank reconciliation, payment gateway reconciliation, annual reports, and payroll accounting• Worked with marketing and brand teams to re-prioritize / reduce spending to offset difficult market conditions• Prepared several audit schedules and signed off key controls for internal control testing and year end audits as part of successful annual audit by big four audit firm

Chartered Accountant, Financial Reporting

Higher Secondary