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Bharati Desai, CPA

#405, 50 Forster Park Drive, ON L6K 1Y8


bhartidesai16@hotmail.com
(416) 707-6886 (Cell)

PROFILE

 Certified Public Accountant/Controller /Assistant Controller /Analyst/Accountant with 16 years of


experience in private, public and manufacturing and retail and distribution companies

 Dynamic, proactive, result oriented, motivated and career –minded personality with demonstrable track
record in cost reduction through strong negotiations and creative solutions for continuous improvement

MAJOR AREA OF EXPERTISE:

• Financial reporting (GAAP/IFAS)


• Project Management • Corporate Accounting
• Monthly presentation of financial • Cash management and managing
to executives treasury including hedging
• Accounting system design and • Year end external audit support
implementation • Weekly, monthly, quarterly and
• Financial planning & analysis year-end financial reports
• Budgeting ,cash flow and business plan • Supervising AP/AR/Banking
• Federal and provincial tax returns • Continuous improvement and
• Specialty in implementing IFRS optimization
• Implementing Bill 198 controls

TECHNICAL SKILLS

• ACCPAC HYPERION ORACLE


TAXPREP ADVANCED EXCEL SAP
QUICK BOOKS SAGE LINE 100 SIMPLY ACCOUNTING
CMS (SAP) PEOPLE SOFT
SIMPLY ACCOUNTING

PROFESSIONAL EXPERIENCE

Financial Consultant (Contract)


QUANTUM COMPUTING INC (Part of University of Waterloo) July2009 to
Nov 2009
Prepared cash burn rate for $240 million funding for the project and prepared budget for 10 years with
sustainability report.
Developed and implemented management reports for profit and loss and balance sheet (weekly, monthly
and quarterly report)
Developed policy, procedures and standards and assisted CFO with a risk management process
Bharati Desai (416) 707-6886 / bhartidesai16@hotmail.com 2

Trained the 6+staff for the reporting systems with Crystal reports
Designed and implemented internal control measures for spending new grant of $200 million for
purchasing, accounts payable and accounts receivables

Controller 2007 to 2009


MARTINREA INTERNATIONAL, Vaughan, ON
Reputed multinational public corporation with 30 (automotive systems) manufacturing divisions in
Canada, USA and Europe
• Prepared 5-year business forecasts and annual budget for the newly created division worth $250
million in revenues based on a new type of business model/contract (VAA). Created business plan
scenarios with reduced volumes
• Identified and negotiated changes to the labour provision contracts to yield savings of $750,000.
• Prepared product costing and management accounts on weekly basis with variance with budget and
variance explanations
• Monitored expenses and schedules in tough economic climate to improve profitability which resulted
in a prelaunch profit of $767,000. Oversaw financials and project accounting to ensure that
expenditures aligned with the budget
• Prepared financial reports for month end and year end with very strict deadlines using crystal reports
and analyzed financial reports for management
• Consolidated 30 divisions to prepare balance sheet and profit and loss account
• Reduced the need for US$50,000 in capital expenditures on inventory automation after presenting a
cost-benefit analysis
• Reconciled inter-company accounts for all 30 divisions with corporate and uploaded all 7 corporate
companies in Hyperion
• Completed negotiations with vendors and contractors for prices and credit terms and reduced cost by
23%.
• Prepared and managed time and material costing system
• Coordinated with all divisions to improve timely reporting and brought forward month end deadline
by a week
• Helped in year-end audit and supplied schedules for all the major balance sheet items and income
statement with previous period comparisons
• Prepared and managed weekly cash flow, monthly cash flow as well as investment and treasury

Senior Financial Analyst (Mat contract) 2006 to 2007


VIRGIN MOBILE Canada, Toronto, Ontario
Part of multinational Virgin Group of companies Virgin Atlantic, Virgin mobility network
Found and corrected an error in PeopleSoft inventory module for returns claims which saved
company more than $600,000.
Detected duplication claims and overlapping claims forms for retailers and saved company $180,000.
Managed month-end accounting process, analysis of financial results, variances and general ledger
account reconciliation
Liaised with external auditors for year end and quarter end audit and won award for best company
amongst all companies world wide.
Participated in special projects for enhancing automation; developed processes to stop revenue
leakages
Managed inventory and reconciliation of inventory including investigating variances
Bharati Desai (416) 707-6886 / bhartidesai16@hotmail.com 3

Senior Accountant 2004 to 2006


ESW CANADA, Toronto, Ontario
Part of publicly-traded company and manufacturer of a catalytic converter, diesel and gasoline fuelled
substrate brand name as Clean Cat, Quiet Cat
• Helped CFO in design and implemented and managed all accounting systems, management
information systems and internal control policies and procedures in new division. Oversaw the daily /
weekly preparation of Cash Position with the Chief Financial Officer
• Detected costing problem which will potentially save the company $135,000 per year.
• Managed full accounting department consisting of Accounts Payable, Accounts Receivable, cost
management and full general ledger maintenance and safeguard all receipts, cost and actual
expenditures
• Preparation of auditors schedules and audit support on timely basis adhering to GAAP principles
• Analyzed manufacturing variances and prepared report for management for reasons of variance
and corrective actions
• Managed with time and material costing system

Controller 1996 to 2003


EVEREST ENTERPRISES LTD,

Leading food industry exporting to European supermarket with 2500 employees


• Analyzed project cost estimates. Provided bases for assumptions. Prepared projected financials
and analytical support to management and helped in starting four projects worth $45 million in
profitably
• Analyzed manufacturing variances and recommended actions which saved company $400,000
• Proactively encouraged early collection and attaining extended credit terms from suppliers to
improve the cash flows by a targeted $80,000 per month
• Managed and developed product costing and transfer pricing requests of new products and
existing exports for more than 100 products
• Reduced overhead structure by 40% by achieving large cost reductions through newly invented
cost-cutting committee
• Secured financing for new investments and daily working capital dealings with major cost
reduction of finance cost by $ 55,000 per month
• Internal audit including operations, credit and financial audits with focus on operational
efficiency, risk assessments which had reduced frauds; improved operational efficiency by 18%
• Prepared quarterly and annual financial reports, weekly profit and loss account, budget forecast,
cash flow and presented report at board meeting
• Communicated effectively with managers so they understand how costs affect the company's
efficiency and improved processes and found major cost savings of $65,000 per annum
• Earned “Best Employee” award
• Reduced ad-hoc overtime by 80%, ensured reporting accuracy to 100% by simplifying flow of
documents and eliminating unnecessary reports
• Carried out variance analysis of costs, revised budget estimates and modeled profit-maximizing
directions which had improved profits by 18%

EDUCATION
Bharati Desai (416) 707-6886 / bhartidesai16@hotmail.com 4

Enrolled in a SAP certification


Certified Public Accountant (CPA)
Certified Public Accountant (CPA) USA in progress
Certified General Accountant (CGA) in progress
Bachelor in accounting (B.Comm) evaluated by World Service Education by Canada
Corporate and personal Taxation

AFFILIATIONS

Member of Institute of Certified Public Accountants (ICPAK)


Honorary Chairlady of Association of Women Accountants of Kenya (AWAK)