Philimon Kaunda
Lusaka
Summary
Meticulous financial and management person versed in audit coordination and execution. Supports seamless financial operations with timely and accurate reporting. Develops financial statements and tax documents to meet business needs.
Overview
10
10
years of professional experience
1
1
Certification
Work History
Management Accountant
Lusaka South MFEZ Limited
Lusaka, Zambia
01.2021 - 11.2023
- Managed audits, internal and external including audits extended from Auditor General’s Office
- Prepared Management accounts for management decision making
- Prepared and ensured implementation of the corporate Budget
- Responsible for the Treasury function of the Institution
- Prepared monthly payroll and acted as the contact person on all matters related to pensions and taxes for the Institution
- Controlled cost and reported on variances on expenditure for management action
- Assigned and supervised administrative tasks of the under administration function
- Managed fixed asset register of the Institution
- Attended to all Institutional tax requirements for corporate, pay as you earn and property transfer taxes
- Evaluated and improved accuracy and completeness of financial information on budgeting, assets and liabilities and other financial records to boost regulatory compliance
- Reconciled all balance sheet accounts, including deferred income, gratuities, provisions, and equity accounts
- Reconciled fixed asset register with the general ledger to reflect the true position of assets
- Prepared financial (management accounts) reports for submission to the parent company (Industrial Development Corporation, IDC) for group consolidation
- Contributed to developing the company's strategic plan for 2020-2025
- Cross-trained employees, enabling completion of priority tasks during personnel absences.
- Presented audit results to management teams, delivering information in non-technical terms for easy understanding.
- Researched and implemented best practices to improve audit results.
- Researched changes in laws to maintain adherence to financial regulations.
- Minimized internal accounting department backlogs by updating accounts and generating reports.
- Designed internal control policies to improve audit scores.
- Assisted in developing marketing and business strategies to boost shareholder value.
- Selected and managed company investment decisions and researched new and potential opportunities.
- Analyzed past company expenditures, profits and costs to make necessary adjustments and devise improvements.
- Prepared and presented financial reports, budgets and statements.
- Negotiated financial logistics for company projects and forecasted income and expenditure.
- Managed payroll process from data entry through final reporting and payment of taxes.
- Maintained fixed asset register ensuring accurate depreciation calculation.
- Developed strategies for mitigating financial risks.
- Researched potential investments opportunities based on ROI calculations.
- Advised senior management on best practices regarding capital expenditures decisions.
- Coordinated external audit process by providing necessary documentation to auditors in a timely manner.
- Conducted variance analysis between forecasted results and actuals to explain fluctuations in revenues or expenses.
- Analyzed corporate operations to identify cost savings opportunities.
- Established internal control procedures to ensure compliance with GAAP standards.
- Prepared complex financial reports such as balance sheets, income statements and cash flow statements.
- Performed month-end closing activities including journal entries, reconciliations and other related tasks.
- Monitored budget performance against actual results, identified discrepancies, and recommended corrective actions.
- Prepared, analyzed and interpreted monthly financial statements for management review.
Senior Accountant
Lusaka South MFEZ Limited
Lusaka
03.2017 - 12.2020
- Evaluated and improved accuracy and completeness of financial information on budgeting, assets and liabilities, and other financial records to boost regulatory compliance
- Partnered with auditors to prepare yearly audits and ensure compliance with government regulations and international accounting standards
- Managed and led external, internal, and audits of the auditor general
- Implemented the use of Dove Pay and Sage evolution to enter financial data, analyze and track budgets, evaluate project costs, and monitor performance trends
- Reviewed budgets, including capital appropriations and operating budgets, and communicated findings to senior Management
- Enhanced budget administration by reviewing all expenditure and income reports, leveraging knowledge to strengthen controls and improve transparency
- Prepared budgets and their implementation
- Handled month-end and year-end-end finances by managing and reporting fixed assets and other data
- Managed administration function of the institution, including company fleet, Human Resources, company assets, and store’s function
- Participated in the procurement process including vendor evaluations and served as management procurement committee member for three years
- Set up and improved accounting systems including the company payment system and processes to meet business needs and maximize effectiveness of operations
- Completed year-end closing processes with controllers and external auditors
- Drafted financial documents, including variance reports, and finance manuals, and implemented relevant framework to attain the objectives
- Prepared Management Accounts on monthly basis
- Effectively managed and controlled salaries payment system including preparing management payroll report to enable accurate information dissemination and developing internal controls and payment systems to assist in processing of staff payments and deductions so as to create efficient and effective payroll system to ensure accountability of institutions resources
- Supported monthly general ledger closing activities, including preparing journal entries and reconciliations
- Participated in procurement evaluations and served as member of the Management Procurement Committee member.
- Developed strategies to improve accounting systems and processes.
- Researched complex accounting topics as needed to ensure accurate reporting of financial data.
- Generated ad hoc reports as requested by executive management team.
- Prepared and distributed financial statements and reports, variance reports, regulatory filings and related schedules.
- Monitored and tracked expenses to keep business on track with financial targets.
- Documented and tracked overhead and capital expenses for budgetary purposes.
- Monitored accounts payable activity to ensure accuracy and timeliness of payment processing.
- Analyzed general ledger accounts for accuracy and completeness on a regular basis.
- Provided support to internal and external auditors during the annual audit process.
- Ensured compliance with all applicable laws, regulations, policies, procedures, and standards of generally accepted accounting principles.
- Identified opportunities for cost savings through analysis of current business practices.
- Advised senior management regarding complex accounting matters such as taxation issues or capital investments.
- Participated in special projects related to process improvement initiatives.
- Assisted in preparing tax returns for filing with government authorities.
- Trained staff members on proper use of accounting software applications.
- Managed financial operations, month-end reporting, financial schedules and reconciliations.
- Managed month-end and year-end close duties, administered additions and performed maintenance and reporting of corporate fixed assets.
- Analyzed monthly department budgeting and accounting reports to maintain expenditure controls.
- Successfully converted manual accounting system to electronic system to reduce errors and improve efficiency.
- Communicated with senior management on status of capital appropriations budget.
- Coordinated timely dissemination of internal and external financial statements, annual audits and annual budgets.
Accountant
Lusaka South MFEZ Limited
Lusaka
02.2016 - 02.2017
- Reviewed accounting structures and procedures on regular basis to identify areas in need of improvement
- Managed, tracked, and monitored financial updates, watch lists and insurance files
- Accurately calculated deductions and processed payroll for thirty employees
- Compiled general ledger entries on short schedule with 100% accuracy
- Resolved financial and tax issues and maximized customer satisfaction scores
- Reconciled accounts and reviewed all materials, including surplus, income, expense data, net worth, and assets
- Organized and carried out efficient month-end, quarterly and year-end closure processes
- Trained new employees on accounting principles and company procedures
- Accurately documented all cash, credit, fixed assets, accrued expenses and line of credit transactions
- Modified comprehensive financial reporting package to reflect growing organizational complexity
- Completed bank reconciliations for all company accounts
- Reconciled receivables accounts to reflect the true position of receivables on a monthly and yearly basis
- Reconciled all supplier accounts and accrued all claims in the general ledger to show the correct position of both current and non-current liabilities
- Maintained the general ledger by reviewing all posting and approving any journal entries for corrections
- Prepared documents, reports, and presentations for executives and Board members on finance and administration
- Identified and investigated variances to financial plans and forecasts.
Associate Consultant
National Institute of Public Administration (NIPA)
Lusaka
01.2014 - 01.2015
- Led various projects under guidance and supervision of chief consultant
- Developed semester outlines and instructional plans for each class session to comply with stated course objectives
- Designed and distributed lecture handouts to round out material and increase student understanding
- Lectured in accounting courses to approximately 200 students
- Remained accessible as resource for students during ample office hours, encouraging questions and providing academic advice and tutoring.
Accountant Payables-Temporal
Lafarge Zambia Plc
Lusaka
10.2013 - 04.2014
- Maintained account accuracy by reviewing and reconciling checks monthly
- Analyzed and adjusted inconsistencies in automated supply accounting system
- Analyzed financial data derived from multiple reporting systems to develop recommendations for operational and performance improvements
- Reconciled accounts, managed audits and updated financial records with remarkable accuracy
- Applied mathematical abilities on daily basis to calculate and check figures in all areas of accounting systems
- Entered financial information and payments to guarantee accurate and on-time payments for employees and vendors
- Strengthened financial operations by conducting account reconciliations
- Effectively communicated with clients about payment needs and kept updated, detailed and accurate ledgers
- Supported management by processing invoices and documents with consistent on-time delivery
- Matched purchase orders with invoices and recorded necessary information
- Maintained proper inventory controls and eliminated workflow gaps to balance projected demands with on-hand supplies.
Education
MBA -
University of South Wales - United Kingdom
09.2023
Advanced Diploma in Management Accounting - Accounting
Chartered Institute of Management Accountants
United Kingdom01-2013
ZICA Profession: Accounting -
Zambia Institute of Chartered Accountants
06.2012
Skills
- Strong report witting abilities
- Sound analytic skills in financial and economic information
- Excellent information technology skills
- Excellent team player
- Excellent accounting skills in accounting packages (Sage evolution, dove payroll) including ERP software
- Effective delivery when under enormous and complex work demands
- Attentive to detail coupled with excellent interpersonal, networking and communication skills
- Proven problem-solving skills
- Analytical researching
- Budget administration
- High flexible on work schedule and assignments
- Proactive and results oriented
- Account Reconciliation
- Forecasting
- Risk Management
- Debt Management
- Fixed Assets Management
- Financial Management
- Financial Controls
- Financial Reporting
- Cash Flow Analysis
- General Ledger Accounting
- Audit Management
- Microsoft Office
- Audit Planning
- Accruals and Provisions
- ERP Software
- Accounting Software Systems
Accomplishments
- Introduction and Implemented usage of the accounting system.
- A major factor in the department claiming up to 95% efficiency and execution of tasks required.
- Implemented the use of a payroll system at my current employer's workplace.
- Development of cost forecasting processes.
- Designed reports to enable tracking of expenditures against budgets.
- Successfully ran a department with minimal human resources which achieved targets through implementing sound internal controls and team work spirit.
Professional References
- Mr. Fredrick Mukuka, Head of Finance & Administration, Lusaka South Multi-Facility Economic Zone Limited, 0977-415192
- Mr. Timothy Musonda, Chief Finance Officer, DHL Zambia, 0977-500220
- Mr.Davies Njapau, Intera
Certification
- Fellow member of the Zambia Institute of Chartered Accountants
- Member of the Chartered Institute of Management Accountants
Timeline
Management Accountant
Lusaka South MFEZ Limited
01.2021 - 11.2023
Senior Accountant
Lusaka South MFEZ Limited
03.2017 - 12.2020
Accountant
Lusaka South MFEZ Limited
02.2016 - 02.2017
Associate Consultant
National Institute of Public Administration (NIPA)
01.2014 - 01.2015
Accountant Payables-Temporal
Lafarge Zambia Plc
10.2013 - 04.2014
MBA -
University of South Wales - United Kingdom
Advanced Diploma in Management Accounting - Accounting
Chartered Institute of Management Accountants
ZICA Profession: Accounting -
Zambia Institute of Chartered Accountants
- Fellow member of the Zambia Institute of Chartered Accountants
- Member of the Chartered Institute of Management Accountants
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