Oluwafunmilola Afolabi
Senior Financial Accountant
Ifako-Gbagada
Summary
Management consultant | Financial Reporting | Virtual Accountant | Tax Accountant | Taxcalc and IRIS Expert | CCH Expert | Business Advisory.
An Association of Institute of Chartered Accountants (ICAN) qualified accountant and an Applied Finance graduate with over twelve years’ professional experience gained in the Information Technology, Retail Sector and from working with reputable accounting firms.
Key strengths include: preparing financial statements in line with the International Financial Reporting Standards (IFRS); analyzing and interpreting financial statements for decision-making; preparing tax computations, paying attention to relevant tax laws for adequate compliance and effective tax planning; and strong business and professional relationship management focused on contributing to the bottom line.
Key Achievements:
YetarVirtualCFOs Limited as Tax Consultant:
• Computed the tax liabilities (including Companies Income Tax) for DipoleDiamond Ltd, a top company in the information Technology space in Nigeria, for the purpose of filing annual tax returns under the supervision of the engagement partner.
• On secondment, successfully managed a portfolio of four clients for a related firm, thereby contributing immensely to its profitability.
B.B Majekodunmi & Co (Chartered Accountants), as Audit Associate:
• Successfully planned and coordinated a number of audit assignments from the planning stage through to the field work and the final review by the engagement partner, ensuring works were properly assigned to engagement team members and that the firm’s audit quality control procedures were duly complied with.
Overview
11
11
years of professional experience
8
8
years of post-secondary education
Work History
Senior Financial Accounting Consultant
Adams & Moore
04.2021 - Current
- Preparation of Financial statement and forecasting proceeding to the final draft of account, which is sent to the client for review
- Reported financial data and updated financial records in ledgers and journals.
- Input financial data and produced reports using TaxcCalc software.
- Tracked business revenue and expenditures and reconciled accounts to maintain high accuracy.
- Investigated daily variances and corrected errors to resolve discrepancies.
- Immediately address problems with clients review to promote quick resolution
- Performing timely and cost-effective project management through job planning sheets
- Followed through on effective organizational digital working sheets for reports and records
- Vat returns reconciliation both output and input vat for clienteles account.
- Delivering a minimum of 8 financial accounts and a maximum of 11 accounts monthly.
- Exceeded goals through effective task prioritization and great work ethic.
- Used critical thinking to break down problems, evaluate solutions and make decisions.
- Proved successful working within tight deadlines and fast-paced atmosphere.
- Enhanced customer satisfaction by uncovering and correcting outstanding financial problems and account errors.
- Applied mathematical abilities to calculate and check figures in accounting systems.
- Trained 4 employees on established practices and accounting protocols to eliminate workflow snarls and tracking concerns.
Senior Tax Consultant
Yetar Virtual CFOs
Lagos
08.2019 - 04.2022
- Helped organization maintain full compliance with local, state and federal tax requirements with diligent application of best practices.
- Interviewed clients to obtain additional information on taxable income, deductible expenses and allowances.
- Furnished taxpayers with sufficient information and advice to facilitate correct tax form completion.
- Reviewed financial reports to correctly ascertain taxation and statement requirements.
- Reconciled tax accounts to prevent discrepancies and maintain readiness for expected tax liabilities.
- Handled business clients' requirements in special areas such as franchise taxation and federal highway use taxes.
- Prepared accurate quarterly and yearly tax filings for businesses such as Value added Tax, Withholding tax , Pay as you earn, Company income Tax,Education Tax ,Personal Income Tax Capital gain Tax and National Information Technology Development Levy (NITDL) .
- Responded promptly to official tax notices requiring clarifications and additional submissions.
- Preparing annual tax returns, provisions and filing via TaxProMAX.
- Consulted with clients to assess and mitigate future tax liabilities and determine eligibility for tax abatement
- Reviewed clients tax filing papers thoroughly to determine eligibility for additional tax credits or deductions
- Used appropriate adjustments, deductions and credits to keep client's taxes to minimum.
- Facilitated communication between clients and tax authorities.
- Saved client N21,000,000 by uncovering eligibility for withholding tax credit.
Finance Manager
Storm Fashion & Lifestyle Limited
Lagos
01.2014 - 01.2018
- Processed journals and compiled supporting documentation to review to maintain quality control standards
- Timely and accurate P & L reporting for the trading outlets
- Supported the production of annual budgets, reducing expenditure by 20%
- Prepared information, forms and data to assist in seamless and efficient financial audit procedures
- Prepared accounts payable and accounts receivable transactions for processing on monthly basis, ensuring meticulous attention to detail to reduce errors
- Prepared accurate financial reports, trial balance and tax schedule for audit exercises
- Researched and facilitated software integration (POS inventory software , SAGE) to streamline accounting and financial processes
- Created organizational structures to improve accounting and finance functions.
- Supported operations management, sales and marketing efforts to increase revenue and overall financial health.
- Trained new and existing staff members in various financial procedures to prepare for job requirements.
- Maximized year-end tax benefits by efficiently managing cash flows
- Implemented processes to consistently meet tax obligations on-time whilst maximizing capital allowances
- Introduced internal controls to monitor critical areas of financial control and devised corrective actions to address risks or deficiencies.
- Prepared monthly reconciliation of bank accounts and took corrective actions on deviations.
- Audited and reconciled payroll and distributions for personnel.
- Monitored budget and revenue trends, compiling reports for company leadership to inform decision-making.
- Analyzed financial statements against forecasts to prepare high-level variance analysis.
- Managed regular finance tracking for numerous branch offices and headquarters expenses.
Accountant
Computer Warehouse Group
Lagos
01.2013 - 12.2013
- Gathered financial information, prepared documents and closed books.
- Tracked financial progress by creating quarterly and yearly balance sheets.
- Leveraged finance knowledge to strengthen controls and improve transparency.
- Input financial data and produced reports using Sage ERP to prepare documents, reports and presentations.
- Tracked business revenue and expenditures and reconciled accounts to maintain high accuracy.
- Led daily general ledger entries, using double-entry accounting method and check backs.
- Reported financial data and updated financial records in ledgers and journals.
- Posting of subsidiaries accounts and processing of expatriates expenses
- Reconciled account information and reported figures in general ledger by comparing to bank account statement each month.
- Posting of staff salaries and allowances
- Applied proper codes to invoices, files and receipts to keep records organized and easily searchable.
Audit Associate
B.B. Majekodunmi & Co
Lagos
06.2010 - 01.2013
- Analyzed accounting systems for efficiency and effectiveness.
- Facilitated financial and operational audits, working with internal and external managers to communicate recommendations or issues surrounding audits.
- Worked audit engagements for industries in engineering, manufacturing, non-profit, Information Technology and human resources.
- Performed auditing work in accordance with rigorous auditing standards and principles.
- Handled planning and budgeting for audit engagements.
- Identified control gaps in processes, procedures and systems through in-depth research and assessment and suggested methods for improvement.
- Performed strategic planning, execution and finalization of audits.
- Supported litigation through examination of canceled checks, invoices and bank records.
- Prepared working papers, reports and supporting documentation for audit findings.
- Complied with federal, state and local requirements.
- Conducted financial, compliance and operational audits.
- Identified management control weaknesses and provided value added suggestions for remediation.
Education
Master of Science - Finance
University of Lagos
Lagos, Nigeria 04.2017 - 04.2018
Bachelor of Science - Finance
University of Lagos
Lagos, Nigeria 05.2006 - 05.2010
Associate Accounting Technician - Accounting
Institute of Chartered Accountants of Nigeria
Lagos, NigeriaAssociate Chartered Accountant - Accounting
Institute of Chartered Accountants of Nigeria
Lagos, Nigeria 11.2007 - 05.2010
Skills
- Financial modeling and Data analysis
Timeline
Senior Financial Accounting Consultant
Adams & Moore
04.2021 - Current
Senior Tax Consultant
Yetar Virtual CFOs
08.2019 - 04.2022
Master of Science - Finance
University of Lagos
04.2017 - 04.2018
Finance Manager
Storm Fashion & Lifestyle Limited
01.2014 - 01.2018
Accountant
Computer Warehouse Group
01.2013 - 12.2013
Audit Associate
B.B. Majekodunmi & Co
06.2010 - 01.2013
Associate Chartered Accountant - Accounting
Institute of Chartered Accountants of Nigeria
11.2007 - 05.2010
Bachelor of Science - Finance
University of Lagos
05.2006 - 05.2010
Associate Accounting Technician - Accounting
Institute of Chartered Accountants of Nigeria
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