Sifiso Sam Duma
Senior Accountant
Richards Bay
Summary
Results-driven Senior Accountant with over 10 years of comprehensive experience across private and public sectors, including major international projects in Europe and Africa. Proven expertise in turnaround strategies, budgeting, planning, and PFMA compliance. Skilled in managing complex government initiatives with organizations such as Coega Development Corporation and Eskom, working alongside departments like DoE, DoR, and DoHS. Adept at optimizing revenue, ensuring regulatory adherence, and leveraging advanced accounting software including SAP, Oracle Hyperion, Sage, and Syspro. Demonstrates strong analytical abilities, independent work ethic, excellent communication, and effective problem-solving skills, consistently delivering impactful financial solutions.
Overview
15
15
years of professional experience
3
3
Languages
Work History
Assets Accountant
Transnet Port Terminal
06.2024 - Current
- Responsible for the management of asset accounting.
- To ensure that PPE transactions processed are valid, accurate and complete, which results in the Fixed Assets and Capital Accounts being representation of the value of the Terminal (Transnet) Assets base.
- Responsible for management and planning of activities related to asset accounting as well as process monitoring and improvements.
- Compile the monthly assets and project reports.
- Review status of IFRS 16 and GAAP related assets, review assets Held for Sale.
- Reconcile CWIP, manage WIP capital projects.
- Manage lease assets schedules.
- Manage Accounting for assets in terms of compliance with IFRS including impairment, change in useful life, residual value and disclosure.
- Accountability for validity, accuracy and completeness of all transactions relating to capex, capitalization, transfers, disposals and impairments.
- Responsible for monthly depreciation run
- Prepare and assist for budgets- forecasting depreciation stimulations, latest estimates.
- Comply with a minimum control framework.
- Enable the tagging of assets and verification process.
- Assist in Audit either internal or external.
Accountant
Abiathar Petroleum Pty Ltd
06.2020 - 05.2024
- Financial Reporting: Preparing monthly, quarterly, and annual financial statements, journal entries, and balance sheet reconciliations.
- Accounting Operations: Managing the general ledger, accounts payable/receivable, fixed asset registers, and cash control.
- Compliance & Audit: Ensuring compliance with GAAP/IFRS, preparing for audits, and assisting with tax filings.
- Analysis & Budgeting: Analyzing revenue and expenses, monitoring budgets, and forecasting cash flow.
- Systems & Process Improvement: Maintaining accounting software and improving internal controls.
Accountant
Energy Partners
06.2019 - 06.2020
- Developed and maintained financial models and applications to support accurate financial analysis and reporting
- Streamlined business processes to improve efficiency and ensure compliance with accounting standards
- Conducted monthly revenue variance analysis and performed account reconciliations to verify accuracy of royalty payments and financial transactions
- Prepared and posted monthly closing journal entries in accordance with GAAP guidelines
- Supervised accounting clerical staff in managing accounts payable, payroll processing, invoicing, and ensuring the accuracy of journal entries
- Executed month-end, quarter-end, and year-end closing procedures in compliance with GAAP requirements
- Prepared documentation and supporting schedules for annual audits, facilitating smooth audit processes
- Analyzed budgeting and payroll allocation to support financial planning and resource management
- Maintained revenue and billing documentation in accordance with SARS regulations to ensure regulatory compliance
- Recognized revenue for customer contracts following GAAP standards and internal/external revenue recognition agreements
Accountant
CMC Global Networks
11.2013 - 12.2017
- Managed international cost & revenue analysis: budgeting, and reporting.
- Oversaw process: improvements resulting in enhanced revenue optimization.
- Invoice Processing: Reviewing, coding, and matching vendor invoices with purchase orders (POs) and receiving documents to ensure accuracy before entering them into the accounting system.
- Payment Management: Scheduling and executing payments, managing vendor terms, and resolving payment discrepancies.
- Vendor Management: Maintaining vendor accounts, collecting tax information and resolving invoice/payment queries.
- Reconciliation and Reporting: Reconciling vendor statements, managing accruals, and preparing AP reports for month-end close.
- Compliance and Control: Ensuring compliance with internal controls, company policies, and audit requirements.
- Expense Management: Processing employee expense reports and managing petty cash.
Accountant
Eskom
09.2013 - 11.2013
- Invoice Processing: Reviewing, coding, and matching vendor invoices with purchase orders (POs) and receiving documents to ensure accuracy before entering them into the accounting system.
- Payment Management: Scheduling and executing payments, managing vendor terms, and resolving payment discrepancies.
- Compliance and Control: Ensuring compliance with internal controls, company policies, and audit requirements.
- Reconciliation and Reporting: Reconciling vendor statements, managing accruals, and preparing AP reports for month-end close.
Trainee Accountant
Coega Development Corporation
09.2011 - 03.2013
- All financials responsibilities being trained under Five managers, CFO, FM, FA, Project Accountant and Cost and Revenue Analyst.
- Invoice Processing: High-volume, accurate data entry of vendor invoices, ensuring proper coding to general ledger accounts and cost centers.
- Three-Way Matching: Verifying invoices against purchase orders (POs) and goods receipts before payment approval.
- Payment Execution: Preparing weekly or ad hoc electronic funds transfers (EFT) and check payments for creditors, adhering to company policies and deadlines.
- Vendor Management: Maintaining accurate vendor master files, reconciling vendor statements monthly, and resolving discrepancies.
- Month-End/Year-End Support: Assisting with closing processes, including accruals and reconciliations within 5 days of period closure.
- Compliance: Ensuring compliance with tax regulations, internal policies, and procurement frameworks.
- Invoicing and Billing: Generating, reviewing, and sending accurate invoices or credit memos to customers in a timely manner.
- Payment Processing: Posting incoming payments (checks, ACH, wire transfers) to customer accounts and reconciling them with bank statements.
- Collections Management: Following up on overdue accounts, sending payment reminders, and negotiating payment arrangements to minimize delinquent debt.
- Account Reconciliation: Reconciling the accounts receivable ledger to the general ledger to ensure all transactions are accounted for.
- Customer Relationship Management: Resolving billing disputes, handling customer inquiries, and verifying client credit terms.
- Reporting and Analysis: Preparing aging reports and, in some cases, assisting with month-end closing activities.
- Credit Management: Evaluating the creditworthiness of new customers and setting credit limits.
- Budgeting and Forecasting: Develop, monitor, and update project budgets, ensuring costs align with financial projections and forecasting future costs to prevent overruns.
- Cost Tracking and Control: Review and approve project-related expenses, including timesheets, subcontractor payments, and invoices, ensuring adherence to contractual terms.
- Invoicing and Revenue Recognition: Generate and issue timely client invoices, manage accounts receivable for projects, and ensure revenue is recognized correctly based on project milestones.
- Financial Reporting and Analysis: Prepare monthly, quarterly, or ad-hoc financial reports (e.g., P&L statements, variance reports) to highlight project performance, profitability, and financial risks.
- Audit and Compliance: Maintain accurate project records, ensure compliance with internal financial policies and external regulations, and support audit requirements.
- Stakeholder Collaboration: Work closely with project managers and teams to provide financial insights, explaining variances and supporting decision-making.
Assistant Territory Manager
Shell SA
02.2011 - 08.2011
- Audit HSSE
- Maintain Shell SA operating standard at all Shell Petrol service station (2 region EC and KZN)
- Sales Strategy & Growth: Create and execute comprehensive plans to increase sales, expand the customer base, and achieve targets in the assigned area.
- Client Relationship Management: Build and maintain strong, long-lasting relationships with key customers and prospects.
- Performance Analysis: Analyze sales data, market trends, and ROI to optimize sales methods and identify new business opportunities.
- Team Leadership: Guide, motivate, and monitor sales representatives to achieve individual and team quotas.
- Product Expertise: Present and promote products or services to customers, ensuring they understand the value proposition.
- Reporting & Administration: Submit regular, timely reports on sales results, forecasts, and market activity to senior management.
- Customer Support: Address customer complaints, concerns, and needs to ensure high satisfaction
Education
Bachelor - Accounting, Management Accounting, Auditing, Taxation and ethics
Nelson Mandela Metropolitan University
Port Elizabeth04-2011
Skills
SAP
Oracle Hyperion
Sage
Syspro
Depreciation Calculation
Audit Preparation
Inventory Valuation
Account Reconciliation
Tax Compliance
Fixed Asset Management
Analytical abilities
Independent work ethic
Excellent communication
Effective problem-solving skills
Interests
Reading, Traveling, Cooking, Swimming
Timeline
Assets Accountant
Transnet Port Terminal
06.2024 - Current
Accountant
Abiathar Petroleum Pty Ltd
06.2020 - 05.2024
Accountant
Energy Partners
06.2019 - 06.2020
Accountant
CMC Global Networks
11.2013 - 12.2017
Accountant
Eskom
09.2013 - 11.2013
Trainee Accountant
Coega Development Corporation
09.2011 - 03.2013
Assistant Territory Manager
Shell SA
02.2011 - 08.2011
Bachelor - Accounting, Management Accounting, Auditing, Taxation and ethics
Nelson Mandela Metropolitan University