Thandiwe Ntuli

Corporate Finance

• Conduct month end closing and reporting (income statement,balancesheet,strict working capital,Capex).
• Present financial results to executive management with commentaries on actual performance compared to prior year and target.
• Perform financial analysis and interpretation to guide strategic decision making.

Budgeting & Forecasting

• Manage and compile budgeting and forecasting of business overheads, commerical overheads, indirect production overheads,supply chain overheads and administration overheads.
• Work closely with Head of Commerical & Sales to compile budgeting and forecasting of sales to margin.
• Present forecast profit & loss (Income statement) to executive management for approval.
• Upload approved profit & loss (Income statement) forecast onto our forecast tool (Analysis for Office).

Audit & Internal controls

• Responsible for co-ordination and overseeing external year end audit.
• Responsible for co-ordination and overseeing internal audit.
• Responsible for tracking and monitoring implementation of internal controls to close out audit findings.
• Review & approve balancesheet reconciliations.

Treasury

• Responsible for drafting and submitting Reserve bank applications for exchange control approvals.
• Responsible for taking out forward exchange covers for foreign payments.
• Review and release all payments.
• Manage & compile cash flow forecasts.

Projects

Activity Based Costing

When I joined UPD which is a division of the Clicks Group, the company was embarking on an ERP change over. The ABC project was going to assist the business to decide on the best costing model it should adopt for the new ERP system. In executing the project, I followed the value chain model from inbound to outbound logistic. Primarily and secondary business activities. I mapped out the process flows within each activity in the business to determine a cost rate. My output was highly received and afforded the business improvement team to identify inefficiencies within the business processes for improvements.

Enterprise Risk Management

The aim of this project was to use the business processes flows mapped out from the ABC costing to identify risks and controls currently in place within the business. The second objective was to assess the risk in terms of probability and impact and to create a business dashboard that can guide the business in terms of tracking performance to manage the risks. This work was shared with internal and external auditors so that they can limit their scope and testing of controls intensity and save the business money on audit fees. Because the business was vertical and horizontal integrated within a highly regulated business environment the company was subjected to a lot of audits.

Commerical contract analysis

• Performed pre-contract financial analysis to determine business profitability of potential clients.
• Performed cost to serve profitability analysis to determine pricing rates for contract renewals.
• Presented financial insights to distribution executive on client profitability and volumes.
• Complied stock management reports for distribution clients.
• Calculated and invoiced distribution fees in accordance with contract rates and conditions.

• I was the only finance person based on site as support to the brewery management team. My responsibilities included the following;
• Reported on production volumes and value, finished product and semi-finished products.
• Reported on actual compared to standard product costs (material, variable, and fixed overheads).
• Analysed all variances to standard costing (price variances, mix variance, volume variances).
• Compiled month end pack for brewery manager and head of departments and presented the results.
• Analysed fixed costs by cost center and held cost center review meetings with head of departments.
• Complied brewery budgeted and quarterly forecasts for fixed and variable overheads as well as energy costs.
• Coordinated stock counts and reconciled stock adjustments.
• Performed cost release for new materials (raw material, packaging materials and finished goods).
• Reported and analysed production water and energy consumption.
• Analysed repairs and maintenance costs by works order and in relation to plant shutdowns/overhauls.
• Performed month end closing on SAP, rolling all costs into product costs (computing actual cost of goods sold).

• Performed new product costing.
• Reported on actual production costs compared to standard costing.
• Performed actual to standard cost variance analysis.
• Performed stock revaluations.
• Performed stock reconciliations.
• Report on production efficiencies.
• Worked with engineering department on production waste project.

• Performed transfer pricing calculations and invoicing.
• Complied financial support for business cases.

• Conducted trend analysis, benchmark reports on product costing across the different plants.
• Analysed the bill of materials to identify opportunities to drive efficiencies to lower product costing and improve margins.
• Maintained costing packs and bill of materials.
• Reported on production volumes and value.
• Reported on plant efficiency (overall equipment efficiency, and paid time efficiency).
• Reported on plant waste (material usage variance).
• Reported on plant overheads (variable and fixed).
• Compiled plant budgets for group consolidation.
• Assisted with plant audits.
• Co-ordinated stock counts.