Mbuso Zungu
Business Accountant & Management Consultant
Durban
Summary
Hard-working, experienced, dynamic and versatile professional who has succeeded in roles including; Managing Director (8 years), Regional Executive (6 years), Senior Accountant, Financial Accounting Lecturer, and FNB Graduate Trainee, (2 years). Affiliated to SAIBA (Practice member), GCIMA (Strategy Level_Associate Member), and possesses a B.Com (Honors) in Management Accounting and a B.Com (Accounting)
Versatile professional with proven abilities across all levels of organizational management. Talented in developing partnerships, overseeing personnel and developing tactical plans to meet strategic goals. Proven leader with significant and extensive background in IFRS, PPPFA, BBBEE, all from functional, operational, and strategic level of decision making.
Some of the professional accomplishments includes, 22 years old at the time, managing to increase revenue by 100% within one year of appointment through the introduction of activity based management system to limit avoidable activities driving up cost and reallocating resources to core actives that drive up turnover, and ultimately profits.
Have helped 100's of companies restructure their businesses to achieve better BBBEE levels to improve their competitive advantage and leverage. Managed to achieve 100% attainment of each company's to whom BBBEE advisory services were offered to.
Looking for an exciting opportunity to use current experience and desire to gain more knowledge allowing for positive contribution to the success of a potential employer.
Overview
18
18
years of professional experience
3
3
years of post-secondary education
Work History
Managing Director
Impande Business Solutions (Pty) Ltd
Kwa-Zulu Natal & Gauteng
01.2013 - Current
- Providing business intelligence and sensitivity analysis for alignment with profits, costs and compliance with South Africa’s regulatory frameworks. Extensive knowledge of companies' Act, IFRS, PFMA, BBBEE Act,
- Providing expert consultancy and advisory services to wide range of companies (small, medium to large, local and multinational companies across all BBBEE legislated generic & industry sector codes,
- More than 100 companies advised to date. Ranging from SMEs, QSE's, and large local and foreign multinationals.
- Leading change and transformation to company clients across all business areas to deliver benefits and align company resources to objectives,
- Providing consultancy / advisory services to finance teams on best strategies to employ for budgeting, variance & gap analysis,
- Providing assistance to clients on costing and pricing for products / services,
- Spearheading successful business development initiatives aligned with company's strategy and core competencies,
- Assessing performance management structures and implementing enhancements to improve frameworks and strengthen results,
- Providing appraisals for new capital projects, using accurate variables to ensure that projects with higher net returns are prioritized,
- Extracting and interpreting accounting information (from various MISs, e.g SAP, QuickBooks) for client’s profitability, risk & control exposures and mitigations thereof,
- Facilitating and enforcing compliance with SARS regulations, King Report on Corporate Governance, and overall business compliance and improvement processes,
- Working closely with lawyers, business valuators and corporate finance experts in spearheading and facilitating equity restructuring for acquisitions and sale of shares
- Reviewing of valuation models adopted for various business
- Facilitating equity transactions
- Monthly preparation of management reports, providing variance analysis for deviations and formulating strategies to remedy such, while preserving systems that work for benefit of all clients and interested stakeholders
- Assisting both internal and external auditors in resolving BBBEE audit queries.
Regional Executive Manager_Executive DirecDirector
Empowerdex Verification Services KZN (Pty) Ltd
KwaZulu Natal & Gauteng
10.2007 - 05.2013
- Overseeing subsidiary, mandate being to offer BBBEE verification services to its clients
- Clients ranging from small, medium to large, local and foreign multinational entities,
- Obtaining and maintaining accreditation to service clients from all industry sectors, including separately gazetted codes under section 9 of BEE Act 53 of 2003
- Supervising staff complement of 10 subordinates,
- Overseeing financial, human resource, and overall performance of company,
- Compiling, reporting, and reviewing monthly financial, operational, and technical performance.
- Being tasked with achieving both monthly and annual ROIs, based on specified budgeted margins.
- Increased profits by 100% during first year of appointment,
- Reduced costs by almost 50% per annum.
- Always maintained average 30% profit margin.
- Recruiting, training, motivating, and creating moral conducive working environment around staff,
- Monthly preparation of management reports, providing variance analysis for deviations and formulating strategies to remedy such,
- Conducting review of internal controls ensure attainment of divisional and company-wide objectives,
- Managing team of ratings analysts, accountant, sales personnel, and administrative staff through system of activity-based costing / management,
- Managing all legislative & compliance requirements (SANAS accreditation) to ensure continued accreditation of entity to continue offering its mandated business of offering BBBEE
- Accreditation / Auditing services,
- Conducting training interventions to both staff, and clients as additional revenue stream,
- Providing technical reviews of all verification reports issued by division,
- Carrying out technical signatory duties in isolating responsibility and deciding on all BBBEE reports issued by subsidiary.
Senior Accountant
Metrofile (Pty) Ltd
Durban
07.2007 - 09.2007
- Conducted all accounting duties, and reporting directly to Financial Manager.
- Supervised debtors, creditors, bank & cash personnel in ensuring accurate, timely, valid and complete adherence with company’s financial capturing, recording, presentation and reporting.
- Achieved clean audit during first audit exposure.
- Conducted overall accounting month-end functions, including; preparation of monthly management accounts, VAT 201 submissions, compilation of management packs, and reporting.
- Set up and improved accounting systems and processes to meet business needs and maximize operational success.
- Established vehicle and cellphone capturing system that encouraged efficiency by staff. In 3 months, cell phone accounts and fleet expenses had been reduced by nearly 25%.
- Prepared monthly journal entries and reconciliations.
- Developed and implemented effective accounting systems.
- Prepared accounts for industry audits and supported audit process.
- Completed biweekly payroll and maintained employee records.
- Contributed to hiring, training and development of accounting teams.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Expedited payroll and invoicing by streamlining billing systems.
Senior Ratings Analyst
Mbuso Zungu, Empowerdex (Pty) Ltd
Durban
07.2006 - 06.2007
- Provided expert analysis of client’s data to evaluate extent of compliance with policies and principles for Broad-Based Black Empowerment.
- Preserved and upheld professional codes of conduct as per both prescribed minimum auditing standards for specialised environment (SANAS regulations), and Generally Accepted Auditing Standards.
- Established alignment between DTI and any related and relevant legislations.
- Appointed Junior Analyst and promoted to Senior Analyst within 3 months.
- Provided verification audits utilizing both generic codes as well all gazetted BBBEE sector codes.
- Utilized all financial reporting standards to effectively analyze, interpret and validate extent of transformation within each client.
Financial Accounting Lecturer
ICESA City Campus
Durban
01.2006 - 06.2006
- Faculty of Commerce Board Member.
- Used variety of learning modalities and support materials to facilitate learning process and accentuate presentations.
- Evaluated and revised lesson plans and course content to achieve student-centered learning.
- Achieved 70% average pass for learners.
- 20% increase from previous year.
- Implemented instructional technologies in course delivery to engage and educate students.
- Delivered lectures at appropriate pace and pronunciation for optimal audience comprehension by non-native English-speaking students.
- Arranged syllabus, developed schedule and determined reading list for varied courses simultaneously, giving students appropriate time to complete assignments and absorb information.
Graduate Trainee Manager
First National Bank (Division of First Rand Bank Limited)
Durban
01.2005 - 10.2005
- Providing periodic reports and analysis,Actively prospecting, recruiting and pre-qualifying new clients for various financial products,
- Maximizing efficiency and profitability of various financial products,
- Ensuring that all applications meet bank’s internal business and financial controls, both for regulatory compliance and profitability objectives,
- Maintained customer satisfaction with forward-thinking strategies focused on addressing customer needs and resolving concerns.
- Provided primary customer support to internal and external customers.
- Answered product and service questions, suggesting other offerings to attract potential customers.
- Processed customer adjustments to maintain financial accounts.
- Collected and analyzed customer information to prepare product or service reports.
- Offered advice and assistance to customers, paying attention to special needs or wants.
- Created and maintained detailed database to develop promotional sales.
- Promoted available products and services to customers during service, account management and order calls.
- Delivered excellent customer service, resulting in consistent 100% customer satisfaction rating.
Education
Bachelor of Commerce (HONS DEG)_Management Acc - CIMA ALIGNED HONOURS DEGREE
University of KwaZulu Natal (HowardCollege)
KwaZulu Natal 01.2005 - 11.2005
Bachelor of Commerce (ACCOUNTING)_ DEGREE -
UNIVERSITY NATAL (HOWARD COLLEGE)
KWAZULU NATAL 02.2002 - 01.2004
Skills
Problem solving and dispute resolution
undefinedAffiliations
South African Institute of Business Accountants (SAIBA)
- Practice Member
- Membership No.: SAIBR857
Global Chartered Institute of Management Accountants (GCIMA)
- Associate Member: Strategy Level
- Membership No: 1-3K49Y2
Timeline
Managing Director
Impande Business Solutions (Pty) Ltd
01.2013 - Current
Regional Executive Manager_Executive DirecDirector
Empowerdex Verification Services KZN (Pty) Ltd
10.2007 - 05.2013
Senior Accountant
Metrofile (Pty) Ltd
07.2007 - 09.2007
Senior Ratings Analyst
Mbuso Zungu, Empowerdex (Pty) Ltd
07.2006 - 06.2007
Financial Accounting Lecturer
ICESA City Campus
01.2006 - 06.2006
Graduate Trainee Manager
First National Bank (Division of First Rand Bank Limited)
01.2005 - 10.2005
Bachelor of Commerce (HONS DEG)_Management Acc - CIMA ALIGNED HONOURS DEGREE
University of KwaZulu Natal (HowardCollege)
01.2005 - 11.2005
Bachelor of Commerce (ACCOUNTING)_ DEGREE -
UNIVERSITY NATAL (HOWARD COLLEGE)
02.2002 - 01.2004
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