Beatwell Ndhlovu CA(SA)

• Directing and overseeing all aspects of finance and accounting functions of the company and align with group requirements.
• Managing processes for financial forecasting, budgets and consolidation and reporting to the head office.
• Ensuring effective internal controls are in place and comply with IFRS.
• Oversee coordinating and activities of external auditors.
• Monitoring financial performance by measuring and analysing results and recommending strategic thinking.
• Maintaining a healthy work environment and employee experience.
• Preparation, reviewing and presentation management accounts.
• Preparation of month-end accrual and provisions.
• Reviewing company fixed asset register.
• Review VAT and PAYE payment preparations and reconciliations.
• Annual BEE audit and BEE plan.
• Transfer pricing calculations.
• Reviewing legal agreements.
• Working capital management.
• Oversee all payroll activities.
• Month-end close and reporting.
• Executive Board Member.
• Working capital management.
• Year-end packs.
• Overseeing Payroll and HR activities.
• Overseeing IT processes
• Optimized cash flow management strategies, ensuring sufficient funds were available for daily operations while maximizing returns on idle cash balances.
• Enhanced financial reporting accuracy through regular audits and reconciliations, leading to improved decision-making capabilities.
• Prepared comprehensive financial statements for executive review, aiding in effective decision-making processes regarding growth opportunities and resource allocation.
• Analyzed budgets, financial reports, and projections for accurate reporting of financial standing.
• Drafted reports for leadership for use in strategic planning and decision making.
• Oversaw administrative staffing by recruiting, interviewing and onboarding new personnel.
• Forecasted operating costs for scheduled projects by strategizing with other departments.
• Developed and transformed finance and operations team from transactional to analytical to provide enhanced business support.
• Increased financial efficiency by streamlining budget processes and implementing cost-saving measures.

Reason for leaving – The company is going through a lot, pressure within the battery sector and there are discussions of merging with 2 of our divisions.

• Preparing annual financial statements and support direct tax filing process in accordance with local GAAP (in this case country adopted IFRS) and tax regulations.
• Preparing and supporting completions of group reporting tax packages.
• Preparing annual transfer pricing profit monitoring assessments and conclude on profit adjustment requirement-based group transfer pricing policies.
• Coordinating the external audits with local and Hungarian auditors.
• Coordinating background organizations, local business, and finance stakeholders to supply information for the statutory closes.
• Driving process improvements and engaging in global digital initiatives to enable a very efficient, effective statutory closes for entities.
• Responsible for VAT computation and filling.
• Supporting local tax and customs audits.
• Participating in month end close.
• Reviewing balance sheet recons.
• Supporting Finance group reporting team.
• Assisted in internal and external audits by preparing necessary documentation and responding to auditor inquiries.
• Reconciled balance sheets and streamlined best practices for balance sheet processes.
• Analyzed financial statement discrepancies, identifying issues, and recommending corrective actions to prevent future occurrences.
• Optimized month-end closing procedures by streamlining workflow processes, reducing time taken from 10 days to 5 days without compromising accuracy or detail level achieved.
• Strengthened internal controls by reviewing processes, identifying gaps, and proposing improvements to safeguard against fraud or mismanagement of funds.

Reason for leaving – Career advancement soon after qualifying. The company didn’t have any senior positions available.

• Computer skills: Accounting Packages, Caseware, Microsoft Office Suite, Oracle and Syspro, SAP, Draftworx and Thomson Router.

• Acting as a compliance leader in making sure finance department is abiding by Eaton policies and assist other departments when there is a need.
• Analyzing expenses and making sure all accruals are accounted for.
• Assessing all our transactions for compliance with IFRS, US GAAP, Tax and any other statutory responsibilities.
• Assisting with external and Internal audit for South Africa: a go to person from a Finance operations team, assisting with audit file prep, IFRS 16 compliance and any other admin issues pertaining to that and IA checklist.
• Coordinating and guiding Shared service leader with any other ad hoc responsibilities.
• Coordinating month end checklist.
• Facilitated cross boarder transactions, EU and other African countries.
• Worked with our global treasury on multi currencies.
• Coordinating with sales personnel with any issues concerning exports documents, reviews the documentation if the team is not too sure on how to treat those transactions.
• Ensuring everything that concerns fixed assets is properly done from initiation to assets being capitalized i.e. CAR approvals, CIP, inspection and capitalization as per Eaton policy and accounting standards.
• Making sure all the issues picked out during balance sheet reviews are cleared on timely basis.
• Managing issues relating to bank mandates and access rights for finance operations team, and this is also done with the corporate controller’s and the treasury team involvement.
• Managing month end close which includes preparing progress billing report, cash book close, balancing Syspro to Oracle, clearing balance sheet issues.
• Managing the Pune team for entries in the GL.
• Achievements: Monitoring compliance with SARS requirements for export sales and quarterly reviews.
• Performing progress billing audit review every month.
• Preparing balance sheet monthly recons for both ledgers in accordance with Eaton policies.
• Preparing bank reconciliations for Citi Bank and assess reconciling items for posting in the GL.
• Preparing cash flow forecast every month and analyze whether we need financial support, or we have sufficient cash flow for the payments of the month.
• Responsible for all transactions in Eaton Kenya and Nigeria, manual journals and month end reporting.
• Reviewing all manual journals prepared for both ledgers for validity, reliability and accuracy.
• Working with corporate controller to resolve any SARS E-filling access issues.

Reason for leaving – Career advancement.

• Coordinated and reviewed accounting work of colleagues as required to ensure accuracy and validity of transactions.
• Corporate controlling for entities in South Africa, Nigeria and Kenya.
• Ensured that all financial reporting for Group, statutory and fiscal accounts for the legal entities were prepared in compliance with US GAAP and IFRS and corporate policies.
• Preparing consols for Eaton Africa.
• Ensured that signatories are up to date and relevant.
• Ensured that withholding tax returns on interest on foreign loans and dividend returns are filled within required timeframes.
• Led for the coordination with external auditors.
• Managed budgets on corporate ledgers.
• Performed journal reviews.
• Prepared financial statements for all 3 entities in South Africa.
• Prepared tax computations, FAC109 tax module, IT14SD and other indirect taxes.
• Provided accounting information to the Tax CoE department.
• Transferred pricing documents preparation and submission.
• Treasury management.
• Supporting group reporting packs.

Reason for leaving – Promoted to a GL supervisor role.

• Served as independent compilers and assisted auditors and other companies in drafting financial statements.
• Worked with the PWC, KMPG and Grant Thornton.
• Provided finance and tax advisory to our clients.
• Prepared consols for Medicross and Smollan with over 10 companies.

Reasons for leaving – Opportunity to join a multinational.

• Wide range of assignments ranging from external audit to corporate tax computations for entities across several industries.