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Group Financial Reporting
Francois Hugo
,
Godalming, United Kingdom
Experience
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I'm offering
I am a fully qualified Chartered Accountant (Equivalent of Associate Chartered Accountant) with 26 years’ experience.
I have proven skills and experience in the group consolidated financial reporting (internal reporting, statutory accounts and external reporting) and budgeting and forecasting field.
I recently relocated to the UK from South Africa (the break in employment from May 2019 to September 2019 represents time spent relocating)
I completed a four month contract position at British Airways in the UK. 11 years before relocating, I worked at the Head Office of a top 40 South African Johannesburg Stock Exchange (JSE) listed entity and before that 14 years at a division of a JSE listed entity, which has also supplied me with people management experience.
I am able to analytically assess figures reported, ensure correct consolidation principles were applied according to International Financial Reporting Standards (IFRS) and obtain information in order to provide management with the necessary information regarding reporting variances and trends in order to make informed decisions.
I am adaptable, able to cope with change in the organisational structure and reporting lines and interact or business partner easily across all levels and across all fields of the business.
I have proven skills and experience in the group consolidated financial reporting (internal reporting, statutory accounts and external reporting) and budgeting and forecasting field.
I recently relocated to the UK from South Africa (the break in employment from May 2019 to September 2019 represents time spent relocating)
I completed a four month contract position at British Airways in the UK. 11 years before relocating, I worked at the Head Office of a top 40 South African Johannesburg Stock Exchange (JSE) listed entity and before that 14 years at a division of a JSE listed entity, which has also supplied me with people management experience.
I am able to analytically assess figures reported, ensure correct consolidation principles were applied according to International Financial Reporting Standards (IFRS) and obtain information in order to provide management with the necessary information regarding reporting variances and trends in order to make informed decisions.
I am adaptable, able to cope with change in the organisational structure and reporting lines and interact or business partner easily across all levels and across all fields of the business.
Markets
United Kingdom
Industries
Language
English
Fluently
Ready for
Larger project
Ongoing relation / part-time
Full time contractor
Available
My experience
2019 - 2020
job
Group Financial Accountant / Finance Analyst
British Airways PLC.
Report into the Financial Reporting Manager
• International Airline with 34 group entities in UK, India, South Africa, Africa and Europe
• Travel and Tourism industry, Airlines / Aviation
• Turnover 2019: £13.3bn
• Based in Harmondsworth, London, UK
New consolidation system implementation
➢ Reconcile between the old SMART and the new SAP system, resolve differences
➢ Identify opportunities for process improvement via automation and standardisation and manage their implementation
Consolidated group reporting (Statutory reporting, external reporting and internal reporting)
➢ Timely and accurate delivery of monthly, quarterly and annual reporting requirements for BA Plc statutory entity and BA Group consolidation via BA Plc reporting pack, management commentaries and notes to the accounts
➢ Ensure compliance of accounting treatments with BA/IAG accounting policies and International Financial Reporting Standards (IFRSs)
➢ Provide ad hoc advice to Finance Business Partner teams on any issues regarding asset accounting and detail statutory accounting
➢ Identify opportunities for process improvement via automation and standardisation and manage their implementation
➢ Prepare and review FRS 101 and FRS 102 statutory accounts for the Group's subsidiaries
➢ Provide information, support and liaison on a regular basis to internal and external auditors
Business partnering
➢ Maintain relationships with the outsourced accounting functions in India and Poland
➢ Work effectively with internal and external auditors
Career highlights / Achievements:
➢ Investigating differences in revenue disclosure between Finance Analysts (SAP consolidation) and Financial Planning Analysts (Hyperion consolidation) teams and finding a solution, liaising with departments in order to align disclosures and eliminate quarterly manual journal entries to align
• International Airline with 34 group entities in UK, India, South Africa, Africa and Europe
• Travel and Tourism industry, Airlines / Aviation
• Turnover 2019: £13.3bn
• Based in Harmondsworth, London, UK
New consolidation system implementation
➢ Reconcile between the old SMART and the new SAP system, resolve differences
➢ Identify opportunities for process improvement via automation and standardisation and manage their implementation
Consolidated group reporting (Statutory reporting, external reporting and internal reporting)
➢ Timely and accurate delivery of monthly, quarterly and annual reporting requirements for BA Plc statutory entity and BA Group consolidation via BA Plc reporting pack, management commentaries and notes to the accounts
➢ Ensure compliance of accounting treatments with BA/IAG accounting policies and International Financial Reporting Standards (IFRSs)
➢ Provide ad hoc advice to Finance Business Partner teams on any issues regarding asset accounting and detail statutory accounting
➢ Identify opportunities for process improvement via automation and standardisation and manage their implementation
➢ Prepare and review FRS 101 and FRS 102 statutory accounts for the Group's subsidiaries
➢ Provide information, support and liaison on a regular basis to internal and external auditors
Business partnering
➢ Maintain relationships with the outsourced accounting functions in India and Poland
➢ Work effectively with internal and external auditors
Career highlights / Achievements:
➢ Investigating differences in revenue disclosure between Finance Analysts (SAP consolidation) and Financial Planning Analysts (Hyperion consolidation) teams and finding a solution, liaising with departments in order to align disclosures and eliminate quarterly manual journal entries to align
SAP, Automation, Management, Finance, Compliance, PLC, Implementation, Support, Analyst, Business Partner, Accountant, Detail, International, Planning, Manager
2007 - 2019
job
Group Financial Accountant
Imperial Holdings Limited (Unbundled into Imperial logistics Limited in 2019) December 2007 to April 2019.
Work directly for Group Financial Controller who reported to Chief Financial Officer (CFO)
• International / multinational multi-site group (minimum 300 legal entities, 600+ base entities, roughly 100 African in Botswana, Malawi, Namibia, Kenya, Mozambique, Zimbabwe and roughly 40 International in Germany, UK, Netherlands, South America
• Logistics, Supply Chain Management, Warehousing, Auto retail
• Johannesburg stock exchange (JSE) top 40, Turnover 2017: R117bn 2018: R51bn
• Based in Johannesburg, South Africa
International Financial Reporting Standards IFRS
➢ Keep abreast of latest standards issued
➢ Determine applicability to the group
➢ Ensure disclosure and sometimes application is adhered to
Annual budget and forecast
➢ Improve budgeting and forecasting process and reports of final budgets and forecasts to Executive Committee and Board, set budget parameters and prepare group budget slides for annual budget presentation to Executive committee
➢ Interact with local and international stakeholders across all levels
Consolidated group reporting (Statutory reporting, external reporting and internal reporting)
➢ Timeous and accurate monthly reporting, quarterly reporting to executive committee and board reports, half year and year end group financial reporting:
◦ Input on improving monthly and yearend packs and ensuring functionality once changes were made
◦ Analyse figures submitted and consolidated
◦ Revise figures for accuracy and validity
◦ Obtain explanations for large variances
◦ Particular focus including drafting of notes: Revenue, Taxation, Related parties, Earnings per Share (EPS), Headline Earnings per Share (HEPS), CEPS (Core Earnings per share), Business combinations (Goodwill, warranty payment provisions, acquisition and disposal accounting) and Equity
➢ IFRS adherence for Consolidated Annual Financial Statements by analysing, interpreting and applying all new standards
➢ High quality external reporting, internal reporting and smooth year end group consolidation processes and intergroup eliminations, by business partnering with CFO's, financial directors and accountants to maximise quality and timeliness of reported figures
➢ Assist incorporating new acquisitions into the group
Business partnering
➢ Business partner with Human Resources Director and team to monitor progress of projects against budgeted costs and ensure understanding of the costs involved
➢ Create and maintain good working relationship with external auditors
Other
➢ Issue of half yearly loan covenant certificates
➢ Review of Consolidated Annual Financial Statements, preliminary report, commentary by Chief Financial Officer (CFO), presentation slides
Career highlights / Achievements:
➢ Changed working atmosphere of the department to being more interactive, friendly and a pleasant environment to work in
➢ Cutting reporting time for tax note from 3 weeks to 2 weeks and being on time for the annual financial statements by setting up manual and training
➢ Improve accuracy of intergroup eliminations for revenue and intergroup profits on consolidation between legal and divisional levels through training and one on one guidance to Chief Financial officers (CFO's), divisional heads and group accountants
➢ Improve unutilised tax losses disclosure by including disclosure of movement in reporting pack
➢ Redesigning of segment report to agree or adhere to IFRS
➢ Involvement in change to the new HFM system 11
• International / multinational multi-site group (minimum 300 legal entities, 600+ base entities, roughly 100 African in Botswana, Malawi, Namibia, Kenya, Mozambique, Zimbabwe and roughly 40 International in Germany, UK, Netherlands, South America
• Logistics, Supply Chain Management, Warehousing, Auto retail
• Johannesburg stock exchange (JSE) top 40, Turnover 2017: R117bn 2018: R51bn
• Based in Johannesburg, South Africa
International Financial Reporting Standards IFRS
➢ Keep abreast of latest standards issued
➢ Determine applicability to the group
➢ Ensure disclosure and sometimes application is adhered to
Annual budget and forecast
➢ Improve budgeting and forecasting process and reports of final budgets and forecasts to Executive Committee and Board, set budget parameters and prepare group budget slides for annual budget presentation to Executive committee
➢ Interact with local and international stakeholders across all levels
Consolidated group reporting (Statutory reporting, external reporting and internal reporting)
➢ Timeous and accurate monthly reporting, quarterly reporting to executive committee and board reports, half year and year end group financial reporting:
◦ Input on improving monthly and yearend packs and ensuring functionality once changes were made
◦ Analyse figures submitted and consolidated
◦ Revise figures for accuracy and validity
◦ Obtain explanations for large variances
◦ Particular focus including drafting of notes: Revenue, Taxation, Related parties, Earnings per Share (EPS), Headline Earnings per Share (HEPS), CEPS (Core Earnings per share), Business combinations (Goodwill, warranty payment provisions, acquisition and disposal accounting) and Equity
➢ IFRS adherence for Consolidated Annual Financial Statements by analysing, interpreting and applying all new standards
➢ High quality external reporting, internal reporting and smooth year end group consolidation processes and intergroup eliminations, by business partnering with CFO's, financial directors and accountants to maximise quality and timeliness of reported figures
➢ Assist incorporating new acquisitions into the group
Business partnering
➢ Business partner with Human Resources Director and team to monitor progress of projects against budgeted costs and ensure understanding of the costs involved
➢ Create and maintain good working relationship with external auditors
Other
➢ Issue of half yearly loan covenant certificates
➢ Review of Consolidated Annual Financial Statements, preliminary report, commentary by Chief Financial Officer (CFO), presentation slides
Career highlights / Achievements:
➢ Changed working atmosphere of the department to being more interactive, friendly and a pleasant environment to work in
➢ Cutting reporting time for tax note from 3 weeks to 2 weeks and being on time for the annual financial statements by setting up manual and training
➢ Improve accuracy of intergroup eliminations for revenue and intergroup profits on consolidation between legal and divisional levels through training and one on one guidance to Chief Financial officers (CFO's), divisional heads and group accountants
➢ Improve unutilised tax losses disclosure by including disclosure of movement in reporting pack
➢ Redesigning of segment report to agree or adhere to IFRS
➢ Involvement in change to the new HFM system 11
Retail, Budget, Forecasting, Training, Exchange, Human Resources, Management, Supply chain management, CFO, Chief financial officer, Business Partner, International, Forecast, Processes, UP
2002 - 2007
job
Group financial manager
BidTravel Group.
Worked directly for the Chief Executive Officer (CEO) of the division.
• A division of the Bidvest Group which is listed on the JSE Turnover roughly R700m
• Roughly 14 entities, associates, subsidiaries and joint ventures.
• Leisure, Retail Travel and Tourism, Franchises
• Johannesburg, South Africa
Divisional reporting (Statutory reporting and internal reporting)
➢ Consolidation of results for group (divisions, subsidiaries, joint ventures, associate)
➢ Preparation of financial results of joint ventures and subsidiaries
➢ Drafting of financial statements for subsidiaries and joint ventures as well as holding company
➢ Reporting on variances from budget as well as to prior year for the whole group
➢ Review of individual companies' year end packs, financial statements and tax calculation/submissions
Budgeting and forecasting
➢ Review of divisional and company budgets alongside the Managing Director and Group Financial Director
➢ Compiling head office budget including calculation of the intergroup administration fee
Business partnering
➢ Regular meetings with Financial Directors of divisions and companies in the group to review and report on:
◦ Tax status and status of Statutory Annual Financial Statements
◦ Debtors collections
◦ Bank balances and cash flows
◦ Divisional reports including Profit and loss, Financial position and Cash flow
➢ Attend quarterly board meetings
People management
➢ Manage 6 people directly and 9 indirectly
➢ Setting of Key performance indicators (KPI)
➢ 6 Monthly review of Key performance areas (KPA) and performance reviews
Other
➢ Managing group supporting company's day to day running, i.e. debtors, creditors, etc.
➢ Managing the Payroll department and responsibility for all payroll related issues including signoff and release of monthly salaries
Career highlights / Achievements:
➢ Setting up of consolidation structure, accommodating the company or group growth, with no assistance or help from superiors, through research, study and some limited input from external auditors
➢ Assist with the incorporating of new acquisitions' reporting into the group
➢ Managing lots of change from change in shareholders to change in direct superiors, keeping staff motivated through all of this
➢ Develop creditors clerk (motivating her to do bookkeeping diploma) into doing reporting for stand-alone entity
Prior work experience as management accountant, internal auditor and article clerk can be provided if required
References can be provided if required
• A division of the Bidvest Group which is listed on the JSE Turnover roughly R700m
• Roughly 14 entities, associates, subsidiaries and joint ventures.
• Leisure, Retail Travel and Tourism, Franchises
• Johannesburg, South Africa
Divisional reporting (Statutory reporting and internal reporting)
➢ Consolidation of results for group (divisions, subsidiaries, joint ventures, associate)
➢ Preparation of financial results of joint ventures and subsidiaries
➢ Drafting of financial statements for subsidiaries and joint ventures as well as holding company
➢ Reporting on variances from budget as well as to prior year for the whole group
➢ Review of individual companies' year end packs, financial statements and tax calculation/submissions
Budgeting and forecasting
➢ Review of divisional and company budgets alongside the Managing Director and Group Financial Director
➢ Compiling head office budget including calculation of the intergroup administration fee
Business partnering
➢ Regular meetings with Financial Directors of divisions and companies in the group to review and report on:
◦ Tax status and status of Statutory Annual Financial Statements
◦ Debtors collections
◦ Bank balances and cash flows
◦ Divisional reports including Profit and loss, Financial position and Cash flow
➢ Attend quarterly board meetings
People management
➢ Manage 6 people directly and 9 indirectly
➢ Setting of Key performance indicators (KPI)
➢ 6 Monthly review of Key performance areas (KPA) and performance reviews
Other
➢ Managing group supporting company's day to day running, i.e. debtors, creditors, etc.
➢ Managing the Payroll department and responsibility for all payroll related issues including signoff and release of monthly salaries
Career highlights / Achievements:
➢ Setting up of consolidation structure, accommodating the company or group growth, with no assistance or help from superiors, through research, study and some limited input from external auditors
➢ Assist with the incorporating of new acquisitions' reporting into the group
➢ Managing lots of change from change in shareholders to change in direct superiors, keeping staff motivated through all of this
➢ Develop creditors clerk (motivating her to do bookkeeping diploma) into doing reporting for stand-alone entity
Prior work experience as management accountant, internal auditor and article clerk can be provided if required
References can be provided if required
Administration, Retail, Budget, Research, Forecasting, SoMe, Management, People management, Growth, Ceo, KPI, Bookkeeping, Office, Accountant, UP, Manager
My education
1993
South African Institute of Chartered Accountants
Chartered Accountant CA(SA), Accounting and Auditing
Chartered Accountant CA(SA), Accounting and Auditing
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