Yisfaalem Asrat - Ethiopia

Yisfaalem Asrat
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About Yisfaalem Asrat

Yisfaalem Asrat is currently living in Ethiopia, working as a Finance Manager and is interested in Accounting.
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Job Title

Finance Manager



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Name : Yisfaalem Asrat Woldeyesus
Sex : Male
Date of birth : 27 April 1967
Place of Birth : Addis Ababa
Nationality : Ethiopian
Marital Status: Married
Address: Telephone Mobile: 091-122-82-24
Residence: 011-629- 44- 84
P.O.Box: 8082

. Graduated in 1993 from Addis Ababa University: BA Degree in
. Graduated in 1984 from Addis Ababa College of Commerce: Diploma in
. Graduated in 2005 from HilCoE School of Computer Science &
Technology : Advanced Diploma in Computer Science

|Jan. 30 - Feb. 3, 1995 |Ethiopian Management Institute : Certificate in |
| |Budgeting |
|Jun. 19 - Jun. 30, 2000 |Ethiopian Management Institute: Certificate in |
| |Project Planning, Implementation, Monitoring & |
| |Evaluation |
|Apr. 9 - Apr. 13, 2001 |Ethiopian Management Institute, Certificate in |
| |Strategic Marketing Management |
|Dec. 12 - Dec. 16, 2005 |Addis Chamber of commerce & Alliance Professionals |
| |Consultancy PLC :Certificate in "Ethiopian Tax |
| |system" |
|Feb. 25 - 29, 2008 |Addis Ababa Chamber of Commerce and Sectoral |
| |Associations: Certificate in Financial Management |
|May 27 - July 26, 1996 |DAS Computer Engineering: Certificate in |
| |a. Introduction to PC & MS- Dos, |
| |b. MS - Windows, |
| |c. MS - Word/Win (NCI Package), |
|Oct. 6 - Nov. 1, 1997 |d. MS - Excel/Win (NCI Package) |
| | |
|Oct. 31 - Dec. 31, 2002 |Equatorial Business Group : Certificate in MS - |
| |Access |
| | |
| |Solminet Information Technology: Certificate in |
|IV. Professional |Peachtree Complete Accounting |
|Membership | |
| |Certificate of Professional Competence in the area |
| |of Accounting from the Office of the Federal Auditor|
| |General since January 31, 2006. |

1. October, 2008 - present
Finance Manager, Edna Mall PLC
. Direct and coordinate the Finance Department daily activities.
. Monitor and supervise all disbursements and collections.
. Analyze debtors and creditors account.
. Compile and submit all Departments Performance and/or Financial
activity reports to the President.
. Analyze accounts receivable account by age against credit sales
invoices and/or Cash Receipt Vouchers.
. Perform correspondences with foreign suppliers through email and/or
. Prepare and Analyze periodic Financial Statements (Cash Flow, Income
Statement and Balance Sheet) with its detailed schedules.
. Close year end accounts and closely work with External Auditors to get
audited financial statement.
. Maintain Sound Control System of Financial Activities (Cash Count,
Stock, Insurance, Depreciation, etc).
. Monitor and supervise the implementation of the approved budget.
Analyze variances between budget & Actual performances/transactions.
. Check every collection is deposited intact to the Company's bank
. Coordinate year end inventory count (stock and fixed assets) for the
preparation of stock valuation and Depreciation Schedule.
. Implement sound internal control and accounting system per the company
. Evaluate and analyze the performance results of financial activity
reports and suggest ways of increasing profitability.
. Perform additional duties assigned by the President.

Major Accomplishments
. Provide Audited Financial Statements for top Management perusal.
. Formulate financial policies and procedures Manual and advice
Management on Financial policy and procedure matters.
. Provide detailed financial management activity report showing SWOT and
trend analysis to the President.
2. March, 2006 - September, 2008
Finance Manager, Kombolcha Steel Products (KOSPI) PLC.
. Prepare the over all Budget (Operating Expenses, Project Expenditures,
Man Power and Fixed Assets) of the Company.
. Assist Departments in Budget Preparation and consolidate all
Departments Budget.
. Analyze variances between the approved budget and the actual
. Monitor the implementation of the approved Budget.
. Close the year end Accounts and prepare detailed Schedule of Accounts
. Check and verify the correctness of year end adjustments (Accruals,
prepayments, Depreciation and Amortization).
. Prepare Financial Statements on monthly, quarter and annual basis for
internal and external use.
. Maintain sound Internal Control and Accounting system.
. Prepare detailed financial analysis report showing the
strength/Weakness of the Company to the General Manager and Corporate
. Monitor recurrent Ledger Balances and Schedule of Accounts of Debtors
and Creditors.
. Close supervision on the activities of Cash Management, General
Accounts, Costing and Budget.
. Prepare Cash Flow Statement. Follow up daily cash balances and Bank
Reconciliation Statements.
. Supervise the over all Costing System of the company.
. Set selling prices with Marketing Department based on the Total
Costing Sheet Analysis of imported raw materials.
. Operate closely with External Auditors for the timely issuance of
Audited Financial Statements.
. Clear Auditors query, Pass Audit Adjustments and then declare Income
tax based on Audited Financial Statements.
. Control Petty Cash Fund established and its replenishments.
. Coordinate Surprise Cash and Stock Counts.
. Other duties assigned by the General Manager and/or CEO.

Major Accomplishments
. Prepared the Financial Services staff job descriptions with
. Assisted CEO's Office in the preparation of Financial Policies &
Procedures Manual.
. Discussed with the CEO for the implementation, monitoring and
evaluation of the over all Company Budget.

3. December, 2004 - February, 2006
Manager, Finance & Human Resource, Trans Nation Airways (TNA) PLC.
. Communicate clients through e-mail and on telephone to collect Sales
in foreign currency for the leased Aircraft.
. Prepare weekly, monthly, quarter and annual Financial
Activity/Performance Report and discuss laboriously with the General
Manager and then submit to Corporate Finance, CEO & IATA.
. Check and verify all coding and posting tasks of Journal Vouchers,
Disbursements and Collections (Both Local and Foreign transactions).
. Prepare consolidated budget. Control the approved Budget against the
actual Performances.
. Prepare financial Analysis and provide detailed report for management.

. Control the cost of imported Spare Parts of Aircraft.
. Coordinate surprise and Annual cash and stock count.
. Close year end accounts and prepare Financial Statements (Cash Flow,
Income Statement and Balance Sheet).
. Provide all financial activities back up to the CEO, Corporate
Finance, Internal and External Auditors.
. Develop the financial policies and procedures manual to strengthen the
accounting system and internal control of the company.
. Attend inter-Company monthly meeting to discuss on various issues and
problems pertaining to Finance and Human Resources and actively
participate for best solution and/or decision.
. Perform all Administrative activities (Insurance, Repair, Fuel, etc).
. Plan, Direct and Coordinate the activities of the human resource
planning, recruitment, transfer, promotion and termination of
. Coordinate the execution of performance appraisal of employees.
. Manage discipline of employees, handle employee disputes & grievances.
. Monitor and schedule employee leaves.
. Administer all employee benefits including safety and health.
. Other duties assigned by the General Manager and/or CEO.

Major Accomplishments
. Assisted CEO's Office in the preparation of Human Resources and
Financial Policies & Procedures Manual.
. Prepared Aircraft Lease Agreement with expatriates.
. Prepared Employees' job description, job evaluation and salary scale.

4. February, 2004 - November, 2004
Deputy General Manager, Cost, Budget & Management Accounts, East African
Holdings PLC.
. Collect and evaluate financial data of Sister Companies for the
preparation of consolidated Financial Statements against the approved
. Prepare Financial Analysis Report based on the Company performances.
. Analyze basic assumptions and alternatives for budget preparation.
. Prepare Corporate Budget and Monitor the over all budget of the
Holding Company based on actual data.
. Verify the Costing Sheet of Imported Raw Materials and Consumables.
. Control the Total Cost of Production in Quantity and Value to
implement Unit Cost for Products.
. Evaluate the minimum, maximum and reorder level of Stock to process
foreign purchases.
. Prepare Business Plan and Financial Statements (Cash Flow, Income
Statement and Balance Sheet) to Bank so as to fulfill the cash
Requirement of the company Projects.
. Summarize and Consolidate Performance Reports on monthly basis for
top Management decision.
. Discuss detailed Management Accounts report with Company managers for
further improvement.

Major Accomplishments
. Prepared Budget Guidelines & Procedures
. Designed formats of Costing Analysis Sheet and Production Report Form

5. January, 1997 - February, 2004
Senior Accountant, MIDROC Ethiopia PLC
. Check and verify all disbursements and collections. Prepare
performance review report and send through e-mail to CEO's Office.
. Prepare Daily cash position against recurrent Bank balances.
. Code and post accounting data to the computer.
. Maintain Fixed Assets Register and prepare Depreciation Schedule.
. Prepare Consolidated Financial Statements (Balance Sheet, P & L and
Cash Flow statement) for Top Management decision making purpose.
. Analyze accounting records and pass adjustments by preparing
Accounting Posting order /Journal Voucher.
. Check monthly payroll. Prepare Employee's Income Tax Schedule to
settle with out penalty to Tax Authority.
. Coordinate preparation of Statement of Accounts of Debtors &
Creditors among Sister and Group Companies.
. Assist the Department in Budget Preparation, Monitoring and
evaluation activities.

6. July, 1987 - February, 1997
Head, General Accounts Division, Ethiopian Tourist Trading Enterprise
. Check and verify Bank reconciliation statement.
. Follow-up Goods-In-Transit/Foreign Purchase Account.
. Prepare Costing Sheet and set selling prices for Duty Free and Duty
Paid Goods.
. Prepare and Control the over all budget of the Enterprise.
. Coordinate inventory count for Stock Valuation.
. Supervise Stock Reconciliation activities for local and foreign
purchases against store Bin Cards.
. Close year end Accounts and issue Draft Accounts Report for Internal
and External use.
. Prepare Financial Statements (Statement of Cash Flows, Income
Statement and Balance Sheet) to Bank so as to get Loan/Over Draft
Facility for expansion and Long term Investments.
. Closely operate with External and Internal Auditors in Audit Work to
hold Audited Financial Statements.
. Pass audit adjustments and clear queries in order to add value on the
Department tasks.
. Control Credit Sales against cash collection activities & maintain
adequate system on receivables.
. Prepare Financial Statements on quarter, bi-annual and annual basis
and prepare trend /Financial Analysis using Ratios (Liquidity,
Leverage, Asset Management and Profitability).
. Prepare Economic Order Quantity (EOQ), lead time & safety stock for
raw materials.
. Other duties assigned by the Finance Manager.

Major Accomplishments
. Assisted the Department in the preparation of Accountants salary
scale, job description and specifications.
. Prepared the Department Budget.
. Assisted the Department in the preparation of Accounting Manual.


| Language |Speaking |Reading |Writing |
| 1. Amharic |Excellent |Excellent |Excellent |
| 2. English |Very Good |Excellent |Excellent |


1. Dawit Gebreamanuel Managing Director, Nile Insurance S.C, Mobile
Tel. No.00251- 91-120-15-44.

2. Legesse Teklemariam, Officer-In-Charge, Finance, Materials
Management & Production, MIDROC Ethiopia PLC Mobile Tel. No.

3. Yared Debebe Director Finance & Accounting ELFORA Agro-Industries
PLC, Mobile Tel. No. 00251-91-163-03-07

Quick Profile Summary

Yisfaalem Asrat
Name: Yisfaalem Asrat
Location: Ethiopia
Job Title: Finance Manager

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