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Michael Udoh

Whitby Ontario, Canada

Phone: xxx-xxx-xxxx

Email: xxx@xxxx.xxx



  • Looking For: senior accountant, Finance Manager/Senior Accountant

  • Occupation: Business and Finance

  • Degree: Master's Degree

  • Career Level: Experienced

  • Languages: English

Career Information:

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Highlights:At Deloitte LLP, from March 2022 to November 2023, I embarked on a journey to help clients navigate the complex landscape of revenue recognition under ASC 606. This period was marked by transformative projects where I played a pivotal role in guiding organizations through the intricacies of this critical accounting standard. One notable project involved a major acquisition where the revenue recognition process was paramount. I worked closely with both the acquiring and acquired companies to review their existing revenue process narratives and policies. The task required a deep dive into the revenue models of both entities, ensuring a seamless integration and compliance with ASC 606. I meticulously analyzed the differences and drafted detailed memorandums that outlined the implementation of the new revenue policies. This comprehensive analysis ensured that all revenue recognition practices were aligned and compliant, providing clarity and consistency across the board. In another significant engagement, I provided technical accounting advisory services on complex revenue recognition issues. My role was to demystify ASC 606 for clients, offering clear guidance on its application. I assisted in developing robust financial models that not only addressed immediate financial health considerations but also adhered strictly to the standards set by ASC 606. This involved extensive collaboration with clients to ensure that every aspect of their revenue recognition processes was thoroughly understood and correctly implemented. Additionally, I was instrumental in the preparation of financial statements and disclosures. My responsibilities included populating financial statements, notes, and the Management Discussion & Analysis (MD&A) sections of interim and annual reports. This task required tying out numbers to data in the consolidation system and ensuring the accuracy and reasonableness of disclosures. Every figure and footnote had to meet the stringent requirements of ASC 606, ensuring that stakeholders had a transparent and accurate view of the financial health of the organization. Through these projects, I honed my expertise in revenue recognition under ASC 606, helping clients not only achieve compliance but also gain a deeper understanding of their financial operations. This experience solidified my ability to manage complex accounting standards and deliver value-driven solutions that support strategic decision-making.

Skills:Accounts Receivables, Accounts Payables, Revenue Recognition, US GAAP, Financial Reporting, Financial Budget, Forecasting and Variance, Contract and Vendor Management, Full Cycle Accounting, Financial Analysis & Reporting, Process improvements and mapping, Management Discussion & Analysis, Business Case Assessments, GL Reconciliation and Working Paper, Revenue Recognition, IFRS, Team Leadership

Goal:As a highly experienced Chartered Accountant with over a decade of progressive expertise in financial reporting, consolidation, budget development, and financial planning and analysis, I aim to leverage my skills in a dynamic, growth-oriented organization. My goal is to secure a senior leadership position where I can drive financial strategy, enhance financial reporting processes, and foster continuous improvement. I am committed to delivering accurate, timely financial insights and reports to support strategic decision-making. With a proven track record in meeting deadlines, managing complex accounting tasks, and ensuring compliance with accounting standards, I seek to build and lead high-performing cross-functional teams. My objective is to contribute to the organization's success by improving its financial operations and reporting accuracy, ultimately supporting its long-term goals.

Membership:CPA Canada Member : Chartered Professional Accountant of Canada

Certification:• Member : Chartered Professional Accountant of Canada • Member : Chartered Institute of Management Accountants (United kingdom) • Master of Business Administration (MBA) Cardiff University • Bachelors of Science – Accounting (Igbinedion University)


Experiences:

Senior Consultant 03/2022 - 11/2023
Deloitte LLP, Toronto , Ontario Canada
Industry: Consulting
Throughout my career, I have gained extensive experience in financial accounting, advisory services, and process improvement, working closely with clients to address complex technical accounting matters and ensure compliance with various accounting standards such as IFRS, US GAAP and PSAS.
•Worked directly with clients on complex technical accounting matters and provided advisory services on financial accounting and process memorandum under IFRS and PSAS •Reviewed the entire PPE lifecycle, including initial recognition, measurement, depreciation, disposal and asset retirement obligations to ensure compliance with the accounting standard •Supported clients with reviewing the revenue process narrative and revenue policy in connection with acquisitions. This involved an indepth analysis of the revenue model between the acquirer and acquire and drafting a detailed memo analyzing the revenue policy implementation. •Assisted Fairfax with month end deliverables and act as key contributor to the consolidation process including the preparation and posting of journal entries related to elimination of intercompany investments and transactions, non-controlling interest transactions and changes in ownership interests in consolidated investees. •Populated financial statements and notes and MD&A of interim and annual reports; tie out the numbers in those reports to data in the onestream consolidation system; obtain and review support for disclosures to ensure reasonableness and proper accounting treatment. •Provided accuracy of monthly, quarterly and annual financial results in accordance with IFRS and corporate policies and ensured compliance with internal controls and policies and make necessary adjustments where necessary. •Supported a client with developing a financial model to address financial health consideration, writing a financial accountability framework including polices and recommendations and identifying any gaps with processes. •Supported a client with invoice management (matching, approvals, reconciliation, payment scheduling, adjustments, etc.)--
Finance Deduction Manager 07/2021 - 02/2022
McCaughey Consumer Products, Burlington, Ontario Canada
Industry: Consumer
s. My experience includes leading the accounts receivable and payable processes, performing month-end reconciliations to sub-ledger and trial balance to validate accounting entries and identify errors. This role required meticulous attention to detail and a deep understanding of accounting principles to ensure the accuracy and reliability of financial records.
•Led the accounts receivable and payable process and performed month end reconciliations to sub-ledger and trial balance to validate appropriate accounting entries and identify any errors. •Performed quality assurance on finance and accounting work products ( e.g. reviewing GL postings for accuracy, monitoring revenue recognitions, commentaries on variances for both the income and balance sheet line items. •Responsible for period close activities related to member billings and collections such as manual journal entries, account reconciliations, fluctuation analysis for management and external audit schedules--
Finance Business Partner 07/2019 - 06/2021
Ontario Health, London, Ontario Canada
Industry: Health Sector
In my career, I have demonstrated a strong capability in financial analysis, reporting, and process improvement, contributing significantly to the organizations I've worked with
•Reviewed all financial and related data, compare operating performance to plan and prior year, prepare and report on trends and variances; provided appropriate recommendations for addressing significant issues and variances •Improved efficiency and effectiveness of key performance indicators through deeper review and analysis of budget slacks within services rendered by provider, which resulted to $4.5m cost savings. •Prepared accurate weekly and monthly cash and financial report to support decision making by management, for audit review and portfolio management. •Drive continuous process improvements in reporting, forecasting, and budgeting activities through automation, consolidation, and quality improvement; liaise with providers to streamline sources of and accessibility to data •Evaluated the reasonableness of financial and statistical data; provided recommendations for changes to processes and procedures to enhance financial/statistical reporting, utilization and/or efficiency •Assisted with posting accounting entries for various chart of account and prepare working papers to support internal control and audit priorities.--
Finance Manager 07/2016 - 06/2019
Banksome Group, , Nigeria
Industry: Construction and Manufacturing
I have a robust background in financial management and accounting, with extensive experience in overseeing and delivering comprehensive financial reports and managing accounting operations.
•Delivered monthly financial reporting of the business’ operating results on a comparative basis with the budget and prior year, including product sales, cost of sales, and margins, balance sheets and income statements prepared on a timely basis •Prepared, managed, and oversaw the daily operations of the accounting department including: month-end and year-end process; accounts payable/receivable; general ledger; payroll and utilities; budgeting; revenue and expenditure variance analysis and debt activities •Managed the procure to pay system, reviewed open purchase orders and performed accounts payable reconciliations. •Worked directly in liaison with the Company’s external auditors at year-end and prepare all year-end audit working papers required by the auditors •Prepared technical accounting assessment memorandums under IFRS for presentation to the accounting team •Supported with reviewing order to cash process and revenue recognition policies under IFRS 15, including the sales collection cycle and AR process. •Preparation and review of consolidated and separate financial statements, disclosure and supplemental information in accordance with the requirements of International Financial Report Standards (IFRS) as well as other relevant reporting framework--
Senior Accountant 01/2012 - 06/2016
Banksome Group, , Nigeria
Industry: Construction and Manufacturing
I have a robust background in financial management and accounting, with extensive experience in overseeing and delivering comprehensive financial reports and managing accounting operations.
•Prepared monthly journal entries and assisted in closing month-end and quarter-end reporting process. •Performed GL adjustment entries and posted recurring and non recurring transactions •Responsible for full cycle accounting financials to maintain accuracy of the P&L, Balance Sheet, Cash flow, Payroll, Accounts Receivable & Payables, Journal entries & adjustments, Statement of Equity as well as all other financial reporting obligations •Prepared and coordinated financial and management reporting and forecasted updates on expenses, identifying areas of focus and helping the business develop action plans to improve performance. •Carried out analysis related to the business planning, budgeting, performance and cost reporting, financial/accounting processes, procedures and systems, benchmarking, including regulatory reporting, variance explanations and year end projections.--
Senior Financial Advisor 12/2003 - current
Hydro One, Toronto , Ontario Canada
Industry: Utilities
In my current role as a Senior Financial Advisor at Hydro One, I have been integral in enhancing the company's financial integrity and operational efficiency. My responsibilities encompass a broad range of financial oversight and accounting functions, ensuring strict adherence to accounting standards and regulatory requirements.
Senior Financial Advisor •Reviewed the entire PPE lifecycle, including initial recognition, measurement, depreciation, disposal and asset retirement obligations to ensure compliance with the accounting standard •Perform specific functional accounting and reporting duties, such as manage specific account balances, fixed assets, OEB’s Uniform System of Accounts (USofA), Statistics Canada Surveys, support for complex transactions, preparation of journals and development and issuance of confidential internal management reports •Provide financial oversight to the fixed assets (US GAAP) area of the balance sheet including working with Inergi and other business areas on process improvement--

Education:

Igbinedion University 09/2003 - 07/2007
, , Nigeria
Degree: Bachelor's Degree
Major:Bsc Accounting
completed my BSc in accounting


Cardiff University 09/2010 - 07/2011
, , United Kingdom
Degree: Master's Degree
Major:MBA
Obtained an MBA from Cardiff University
CPA Canada 06/2019 - 03/2021
, , Canada
Degree: Professional Degree
Major:CPA Canada
CPA Member of Canada
CIMA 06/2019 - 12/2020
, , United Kingdom
Degree: Professional Degree
Major:CGMA
MEMBER OF CIMA - CGMA, ACMA

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