Gugu Mavundla

  • Honeydew , Johannesburg

Assistant Financial Manager / Financial Accounting Professional

Summary

I have been working in the financial accounting space for five years and really enjoy the challenges that comes with this role across different business industries. I am highly motivated, multi-faceted and driven with excellent verbal and written communication skills. My key areas of skills include:

  • Financial statement preparation and analysis
  • Intergroup transactions
  • Budget and variance analysis
  • Local and international financial reporting
  • Tax (VAT, Customs and Company Tax)
  • General ledger to trial balance management
  • Fixed Assets
  • Accounts Payable & Accounts Receivable
  • Foreign Currency Transactions
  • Cash management

Work History

Work History
Nov 2014 - Present

Assistant Financial Manager

Digistrat
  • Management of cash flow and supervision of financial transactions within and outside of the company
  • Drafting monthly and annual budgets and ensuring adherence
  • Budget variance analysis
  • Approval of payments to suppliers and salaries
  • Monthly and annual financial reporting
  • Drafting and analysis of monthly and annual financial statements
  • Reporting on weekly and monthly profit and loss to financial director
  • Approving creditor's recons. Approval of the monthly petty cash reconciliations.
  • Management of the accounts payable and accounts receivable function
  • Management of payroll activities and approval of salaries
  • Ensuring correct allocations of accounts and cost centres
  • Management of monthly tax and VAT payments to SARS
  • Balance sheets reconciliations and clearance of suspense accounts
  • Procurement and supplier management function
  • Ensuring compliance with relevant applicable legislature

Reporting to the Financial Director and Managing Partner

Jul 2013 - Oct 2014

Financial Accountant

Mogale Alloys

Purpose of position: Preparation and examination of financial records, making sure financial records are accurate, complete and conform to internal and external reporting and procedural standards, ensuring that all applicable taxes are paid on time, performing overviews of the financial operations of the business in order to help it run efficiently.

Duties as follows:

  • Organising and maintaining financial records including monthly journals and balance sheet recons
  • Ensuring financial information and records comply to company standards as well as applicable laws and regulations
  • Ensuring correct allocations of accounts and cost centres Accurately computing taxes owed(VAT, Income tax, PAYE, etc.)
  • preparation of tax returns and ensuring prompt payment as well as compliance to all applicable laws
  • Preparation of accurate, timeous and relevant financial reports for managerial use
  • Developing, maintaining and analysing budgets;
  • preparation of various reports comparing budget to actual revenue or expenditure
  • Preparation of cash flow projections in order to manage the company's future cash flow
  • Processing, reconciling and organising payments of foreign suppliers including obtaining the relevant customs and shipping documentation
  • Preparing monthly and quarterly statistics for Stats S.A Approving creditor's recons.
  • Approval of the monthly petty cash reconciliations.
  • International intergroup and foreign currency transactions and intercompany confirmations
  • Management of the fixed asset register
  • Providing assistance to the auditors when company records are being audited.

Reporting to the Financial Manager and CFO

Dec 2011 - Jun 2013

Accountant

VMC Communications T/A Smartcom

Accountant for the group company Smartcom. This later changed to being an Accountant first two, then four of the subsidiaries which involved a significantly greater degree of responsibility. My line of duties were as follows:

  • Closing month-end and running month-end procedures for all four subsidiaries
  • Preparing monthly financial statements and detailed balance sheet recons
  • Compiling monthly journals, management reports and raising accruals
  • Intergroup transactions; loans, payments, receipts and confirmations.
  • Analysing variances between the budget and actuals
  • Calculating cost of sales and analysing movements in our client base across different telecommunications networks (i.e.: Vodacom, Cell C, 8Ta, MTN network contract was unfinalised at the time)
  • Analysing variances between projected cost of sales and what was get invoiced by the networks;
  • Following up and reconciling discrepancies
  • Inventory management including stock variances, stock valuations, calculating aged stock and writing it off
  • Calculating the monthly commission and rebates due to from across the telecommunications networks and subsequently invoicing them
  • Preparing and submitting VAT returns on the 25th each month
  • Fixed asset register management including CAPEX (Capital Expenditure) documents
  • Calculating commission due to dealers and arranging payment thereof
  • Cash management: cash forecasts, bank allocations, ad hoc invoicing and bank recons, weekly banking of cash, management of petty cash
  • Management of the accounts payable and accounts receivable function

I reported to the financial manager and occasionally to the financial director.



Aug 2011 - Nov 2011

Bookkeeper & Event Planner (Temporary Engagement)

UThando Events
  • Calculating the cost and forecasting expected revenue for an event of 500 couples at the Mt Grace Country Home and Spa
  • Drafting financials, budgets and profitability analysis for the event
  • Liaising with sponsors, relevant media houses, media personalities, radio stations and magazines in planning and promoting the event
  • Arranging payment to suppliers, invoicing the relevant parties
  • Banking and cash, bank allocations

I reported to the owner/Managing Director

Feb 2011 - Jul 2011

Creditors Clerk

Tracker Network

Creditors Clerk Responsible for the monthly payment of 140 major supplier accounts for head office expenses as well as those of 26 regional branches with a monthly average in excess of R20 mil. My line of duties included:

  • Daily processing and reconciliation of accounts
  • Preparation of detailed age analysis and payment reports for each account
  • Month-end accruals, reallocations and Income Statement reviews
  • Liaising daily with all suppliers for documentation and query resolving
  • Liaising closely with Regional Managers and head office budget owners up to CFO level for the authorization and the payment preparation of invoices

Exceptional level of personal growth and development as the nature of work is extremely deadline driven, high pressure and detail orientated.

Feb 2010 - Dec 2010

Financial Accountant

Finwrap Financial Solutions

I was instrumental to the set up of this company and seeing it grow from a zero base to a clientele of 15 companies. As the first and only employee of this institution, I was responsible for the day to day running of the office. I would every so often consult with clients alone and report back to the Partner with feedback. As such, I was comfortably entrusted with an exceptional amount of responsibility to which I did not disappoint. My line of duties included;

  • Full bookkeeping function, captured transactions through to balance sheet. Used Pastel Partner(accounting software)
  • Single handedly prepared complete sets of financial statements for external reporting for companies, trusts and close corporations and presented to the partner for review and approval
  • Analysis of Financial Statements by ratios and interpretation(Income Statement, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement, Notes to the financial statements)
  • Company year-end audits; I would single handedly perform substantive procedures and tests of controls across entire sections of the financial statements. Used CQS Caseware(audit programme)
  • Analysing client risk related to environment, including business, fraud and credit risk related to Property, Plant and Equipment Direct tests of client account balances for investments including tests of related investment income and of gains or losses in investment transactions.
  • Secretarial work(CIPRO); Preparation and submission of annual returns for companies as well as the preparation and submission of all other documentation pertaining to the statutorial requirements for companies
  • Tax work included compiling and submitting business provisional and annual tax returns and VAT returns directly with SARS

Directly contributed to company performance by offering reliability, continuity in office procedures and managing office activities on a day-to-day basis

Reported directly to the Partner; worked independently on a daily basis

Feb 2006 - Dec 2009

Student Trainee Accountant 

PricewaterhouseCoopers

Student Trainee Accountant, (During university vacation periods). My line of duties included:

  • Matching invoices to statements made on account
  • Debtors circularisation
  • Gathering extensive research as part of the audit of the SouthAfrican Police Service Excellence Awards
  • Conducting research and gathering information related to advisory services
  • Performing basic substantive procedures and tests of controls on company audits 
Feb 2007 - Jan 2009

Student Assistant

Monash University (South Africa Campus)
  • Student Assistant during the duration of undergraduate degree
  • Student Assistant during the enrolment(registration) and orientation periods
  • Administering travel and accommodation arrangements for departmental staff
  • Coordinating university staff events
  • Library Assistant for two years; Monash Library
  • Maintaining a filing system for the administration office
  • Providing general administrative support
  • Mass Data Capturing
  • Ad Hoc tasks in the Student Services division

Education

Education

CIMA Operational Level - In Progress

Chartered Institute of Management Accountants

B.Com Accounting

Monash University

References

Available on request