Fang Qiao
Indooroopilly
Summary
Finance professional with comprehensive background in accounting, ready to contribute to financial management and reporting. Known for accuracy in financial record-keeping and proficiency in auditing and tax preparation. Reliable team collaborator with focus on achieving financial accuracy and supporting dynamic business needs through analytical problem-solving and effective communication.
Experienced with financial analysis, strategic planning, and business partnering. Utilizes financial expertise to drive informed decision-making and enhance business performance. Strong understanding of budgeting, forecasting, and cost optimization, contributing to overall growth and profitability.
Overview
14
14
years of professional experience
1
1
Certification
Work History
Finance Business Partner
Wallace Bishop Jewellers
06.2024 - 12.2024
- Budgeting and Forecasting:
- Budget Development: Collaborate with store managers to gather inputs on anticipated sales, expenses, and capital requirements for the upcoming month
- Expense Analysis: Analyze historical financial data to forecast monthly costs, including payroll, inventory, and operational expenses
- Budget Review: Prepare and present the monthly budget for review, ensuring alignment with business objectives and financial targets, and adjust as necessary based on actual performance and market conditions
- Cashflow monitoring and Forecasting:
- Daily Monitoring: Track daily cash flow by reviewing bank statements, transaction records, and cash inflows/outflows to ensure liquidity and identify any discrepancies or issues promptly
- Short-term (6 moths) Forecasting: Use historical data and real-time information to project daily and weekly cash flow needs, adjusting forecasts based on seasonal trends, sales forecasts, and operational changes
- Financial Analysis: Conduct detailed financial analysis to support decision-making processes, including evaluating sales performance, cost structures, and profitability
- Performance Reporting: Prepare and present performance reports to senior management, providing insights into financial outcomes and operational efficiency
- Cost Management: Analyze and manage costs associated with retail operations, including procurement, supply chain, and store expenses
- Identify cost-saving opportunities and efficiency improvements
- Business Partnering: Act as a strategic advisor to various departments, including marketing, operations, and supply chain, offering financial insights and recommendations to support their objectives
- Project Evaluation: Evaluate the financial implications of new projects, store openings, promotions, and other business initiatives to ensure alignment with financial goals
- Accuracy and Compliance: Ensure financial reports and statements are accurate and comply with accounting standards and regulatory requirements
- Audit Coordination: Assist with external audits by providing necessary documentation and explanations related to financial performance and operations
- Cross-Functional Collaboration: Work closely with cross-functional teams to understand business needs, provide financial guidance, and ensure effective communication of financial information
- Management and Leadership:
- Team Oversight: Lead and manage a team of three indirect reports, providing guidance and support to ensure high performance and professional growth
- Effective Delegation: Assign tasks and responsibilities efficiently, ensuring that each team member contributes to the timely preparation of management reports and financial analyses
- Performance Monitoring: Implement regular check-ins and performance reviews to track progress, address any challenges, and ensure alignment with individual and team goals
- Process Optimization: Streamline reporting processes and establish clear timelines and protocols to enhance the efficiency and accuracy of management reports
- Communication and Coordination: Facilitate effective communication within the team and with other departments to gather necessary information and ensure smooth coordination in report preparation
- Training and Development: Provide ongoing training and support to team members to enhance their skills and knowledge, contributing to the overall success of the reporting function
- Management Reporting: Deliver clear and actionable financial insights to senior management, enabling informed decision-making and strategic planning
- Control Implementation: Implement and monitor internal controls to safeguard financial assets and ensure the accuracy of financial reporting
- Intercompany Accounts: Skillfully manage and reconcile intercompany transactions, ensuring accuracy and alignment between subsidiary and parent company records
- Prepare and review intercompany reconciliation reports, providing insights into financial performance and addressing any anomalies or inconsistencies
- Collaborate with finance teams across subsidiaries to ensure timely and accurate reconciliation of intercompany transactions and balances
- Enhanced financial decision-making by providing accurate data analysis and insightful recommendations to executive leadership.
- Analyzed financial position, investigated and reported budgetary variances and identified adjustments to facilitate month and year-end processes.
- Implemented cost-saving measures through careful monitoring of expenses and identification of unnecessary expenditures.
Accountant
Data#3 Limited (DTL ASX200)
07.2017 - 06.2024
- Microsoft D365 ERP System Implementation: Led the implementation of Microsoft D365 ERP to streamline financial processes, enhance reporting capabilities, and improve data accuracy across the organization
- Conducted thorough assessments of existing financial processes, identifying gaps and opportunities for improvement to ensure that the D365 solution met business needs
- Worked closely with IT, operations, and procurement teams to integrate finance requirements into the system, ensuring alignment with overall business objectives
- Oversaw the configuration of financial modules, including General Ledger, Accounts Payable, and Accounts Receivable, tailoring functionalities to enhance reporting and compliance
- Designed and delivered comprehensive training sessions for finance staff, focusing on system navigation, reporting tools, and best practices to promote user adoption
- Established a support framework to assist team members during the transition, leading to a smooth go-live process
- Achieved a25% reduction in month-end closing time through improved automation and reporting capabilities
- Received positive feedback from end-users regarding the user-friendliness of the system and the training provided
- Faced resistance from some team members regarding the new system
- Implemented a series of feedback sessions to address concerns and adjust training methods
- The leadership has been conducted in the Microsoft D365 ERP implementation demonstrated strong project management skills and a commitment to enhancing the finance function
- Developed ability to bridge the gap between technical and financial teams ensured the project's success and positioned the organization for future growth
- Enforce Accurate Financial Reporting: Implement approved accounting practices, ensuring precision in financial and operational reports for effective management decision-making
- Led the integration of standardized accounting procedures within the framework, ensuring compliance with both internal policies and external regulations
- Developed and fine-tuned financial and operational reporting templates, guaranteeing that all reports met accuracy and completeness standards required for effective management decision-making
- Improved the accuracy of financial reports by30% through the automation of data entry and the elimination of manual processes, reducing errors and discrepancies
- Collaborated with department heads to ensure their reporting needs were met, leading to a more holistic view of organizational performance
- Successfully enforced rigorous financial reporting standards, resulting in clearer, more actionable insights for strategic planning and resource allocation
- Maintain Accounting Integrity: Safeguard the accounting procedures and internal controls, ensuring the security and integrity of systems
- Design and enforce strong internal controls over financial processes, including segregation of duties, approval workflows, and regular reconciliations
- Periodically evaluate the financial systems and processes to identify vulnerabilities and address potential risks
- Restrict access to financial data and systems based on roles, ensuring that only authorized personnel can modify or access sensitive information
- Train staff on the importance of internal controls and security measures to foster a culture of accountability and vigilance
- Clearly document all accounting procedures and controls, making it easier to enforce compliance and train new employees
- Schedule regular reviews of accounting processes and controls to ensure the current processes are effective and updated in line with best practices and regulatory changes
- Create a safe environment for employees to report suspicious activities or breaches of policy without fear of retaliation
- Manage General Ledger and Reconciliations: Oversee the general ledger system and conduct monthly inventory reconciliations, delivering summarized reports
- Ensure that the general ledger is kept up-to-date by regularly posting all financial transactions, including adjustments and corrections
- Establish a routine schedule for conducting monthly reconciliations, ensuring consistency and accountability within the finance team
- Utilize inventory management software to track inventory levels in real-time, facilitating accurate reconciliations with the general ledger
- Develop standardized procedures for reconciliations, detailing the steps required to match physical inventory with recorded amounts
- Implement a review and approval process for reconciliations to ensure accuracy before summarizing and reporting findings to management
- Periodically assess and refine reconciliation processes to enhance efficiency and accuracy, incorporating feedback from team members and stakeholders
- Ensure Regulatory Compliance: Assure day-to-day operations comply with tax regulations and accounting standards, including assistance with FBT, GST, and TPAR preparation
- Develop clear procedures and guidelines for handling FBT, GST, and TPAR reporting
- Document processes to ensure consistency and clarity
- Provide training for relevant staff on compliance requirements, focusing on specific areas such as FBT, GST, and TPAR to enhance understanding and adherence
- Use accounting software that is equipped to handle compliance reporting, ensuring that calculations for FBT, GST, and other taxes are accurate
- Keep detailed and organized records of all financial transactions and related documents to support compliance efforts and facilitate reporting
- Engage tax professionals or compliance experts for advice on complex issues and to review compliance procedures regularly
- Produce Comprehensive Financial Reports: Prepare, analyze, and maintain management financial reports, meeting specific time requirements, and generate specialized accounting reports as needed
- Assist in Defining the structure and format of management financial reports to ensure consistency and clarity
- Include key components such as income statements, balance sheets, cash flow statements, and variance analysis
- Create a timeline for report preparation and analysis to ensure that reports are delivered promptly, meeting specific deadlines
- Implement processes for accurate and timely data collection from various departments
- Regularly verify data integrity to ensure reliable reporting
- Leverage accounting software to automate data consolidation and reporting processes, minimizing manual errors and saving time
- Encourage feedback from management on the reports to continuously improve the relevance and clarity of the information provided
- Maintain a comprehensive archive of financial reports for historical reference and compliance purposes
- Accuracy Verification and Audit Support: Review and validate accounting entries and general ledger balances, preparing audit work papers for audits
- Conduct monthly reconciliations of all accounts to identify and resolve discrepancies promptly
- Ensure that reconciliations are documented and retained for reference
- Prepare thorough audit work papers that include all supporting documentation, calculations, and explanations for each entry
- This will facilitate a smoother audit process
- Establish open lines of communication with auditors
- Provide them with requested documents and information promptly to enhance the audit process
- Keep detailed records of the procedures followed during the review and validation process, including any adjustments made and reasons for them
- After the audit, review findings with the team to understand areas for improvement and enhance future practices
- Financial Administration and Liaison: Monitor cash flow, coordinate with auditors, financiers, customers, and suppliers, maintaining legal and ethical compliance
- Regularly analyze cash flow statements to assess liquidity and forecast cash needs
- Implement cash flow management tools to track incoming and outgoing funds effectively
- Monitor accounts payable and receivable to ensure timely payments and collections
- Foster good relationships with suppliers and customers to enhance business operations
- Prepare and distribute regular financial reports to key stakeholders, providing insights into cash flow status, financial health, and compliance issues
- Business Support and Analysis: Support Business Managers in variance analysis, revenue analysis, and cost efficiencies, contributing to achieving accurate monthly results
- Create comprehensive reports summarizing the analyses
- Establish regular meetings with business managers to understand their needs and objectives
- Foster a collaborative environment where insights can be shared
- Regularly perform variance analysis to compare actual results against budgeted figures
- Identify significant variances and investigate their causes to provide actionable insights
- Analyze revenue streams to understand trends and patterns
- Break down revenue by product lines, regions, or customer segments to identify growth opportunities and areas for improvement
- Assess cost structures and identify areas where efficiencies can be improved
- Suggest cost-saving measures based on data analysis and industry best practices
- Documentation and System Optimization: Document and maintain accounting and financial reporting instructions, collaborating with the project team to implement and optimize ERP systems
- Analyze existing accounting workflows to identify inefficiencies
- Use this analysis to suggest enhancements that can be integrated into the ERP system
- Establish a feedback loop to continuously gather input from users regarding the documentation and system functionality
- Use this feedback to make ongoing improvements
- Make sure that all documentation and system processes comply with relevant accounting standards and regulatory requirements
- Stakeholder Relationship Management: Develop strong relationships with internal and external stakeholders to ensure superior customer service and sustain long-term strategic partnerships
- Foster transparent and regular communication with stakeholders
- Use various platforms (emails, meetings, newsletters) to keep them informed about relevant updates and initiatives
- Customize the approach based on the specific needs and preferences of each stakeholder group
- Recognize their unique challenges and offer relevant solutions
- Acknowledge and celebrate milestones and successes with stakeholders
- This helps reinforce positive relationships and showcases shared accomplishments
- Regularly assess and refine the relationship management strategies
- Stay adaptable to changing stakeholder needs and industry trends
Assistant Accountant
Data#3 Limited (DTL ASX200)
04.2011 - 06.2017
- Financial Records Maintenance: Assist in maintaining financial records and ensuring accuracy in entries
- Assist in Accounting Procedures: Support in implementing and maintaining accounting procedures and internal controls
- General Ledger Support: Help in managing and maintaining the general ledger system
- Reconciliation Assistance: Aid in monthly reconciliation processes and preparation of related reports
- Compliance and Reporting: Support compliance with tax regulations and accounting standards, and assist in preparing financial reports
- Audit Preparation: Assist in preparing audit documentation and schedules for internal and external audits
- Financial Analysis Support: Help in analyzing financial data and preparing reports as needed
- Administrative Support: Provide general administrative support to the accounting department
- System Maintenance: Assist in maintaining and optimizing accounting software or systems
- Collaboration and Communication: Engage in effective communication and collaboration within the accounting team and with other departments
Bookkeeper
Jeff Biddle Law
12.2010 - 03.2011
- Managed and maintained the financial records and ledgers, ensuring their accuracy and completeness for Jeff Biddle Law
- Processed accounts payable and accounts receivable transactions, accurately recording invoices, payments, and receipts
- Reconciled bank statements and financial accounts, identifying, and resolving discrepancies in a timely manner
- Assisted in the preparation and filing of tax returns, ensuring compliance with tax regulations and deadlines
- Maintained a well-organized and efficient filing system for financial documents and records
- Maintained and processed invoices, deposits, and money logs.
Education
Master of Commerce - Applied Finance
The University of Queensland
Saint Lucia, QLD01.2009
Bachelor of Commerce (B.Com.) - Accounting
University of Southern Queensland
Toowoomba, QLD01.2007
Skills
- Cash flow management
- Profitability analysis
- Variance analysis
- ERP Finance System Implementation
- Tax Compliance
- Skilled in Microsoft D365 Finance System, Microsoft Dynamic, Microsoft Business Central, Pronto, Xero, Employment Hero, Microsoft Office Suites
- BI Tools: Power BI, IBM Cognos, Google Looker Studio
- Teamwork and collaboration
Certification
Certified Public Accountant (CPA) - CPA Australia
Languages
English
Full Professional
Chinese (Mandarin)
Native or Bilingual
Chinese (Cantonese)
Limited Working
Timeline
Finance Business Partner
Wallace Bishop Jewellers
06.2024 - 12.2024
Accountant
Data#3 Limited (DTL ASX200)
07.2017 - 06.2024
Assistant Accountant
Data#3 Limited (DTL ASX200)
04.2011 - 06.2017
Bookkeeper
Jeff Biddle Law
12.2010 - 03.2011
Master of Commerce - Applied Finance
The University of Queensland
Bachelor of Commerce (B.Com.) - Accounting
University of Southern Queensland
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