Richard Owusu Appiah
Deputy Finance Manager at Sunon Asogli Power (Ghana) Ltd Co., Tema - Ghana
Finance and Accounting at The Institute of Chartered Accountants of Ghana
Ghana
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Deputy Finance Manager at Sunon Asogli Power (Ghana) Ltd Co., Tema - Ghana
With over a decade of experience as a Chartered Professional Accountant, I have specialized in the energy sector, particularly in utility-electric generation. My expertise encompasses financial reporting, tax planning, data analysis, and budget management. Currently, I oversee the financial operations of a thermal plant with annual revenues exceeding $300 million. One of my key accomplishments includes spearheading innovative financial procedures that resulted in a remarkable 30% efficiency improvement. Additionally, I identified opportunities to reduce liabilities, achieving an impressive 8% tax savings. My contributions were recognized by Sunon Asogli Power (Ghana) Limited, where I was honored as Outstanding Staff of the Year in both 2018 and 2020. I am passionate about leveraging financial data to drive business decisions and improvements. I am eager to bring my strategic financial management skills to your company to contribute to its financial performance and growth.
Experience
Sunon Asogli Power (Ghana) Ltd Co., Tema - Ghana
Deputy Finance Manager
January 2019 - Present
- Develop and uphold financial policies and procedures to ensure effective control.
- Lead collaborative efforts to implement new procedures, achieving a 30% improvement in efficiency.
- Oversee banking relations and credit negotiations, along with other financial services.
- Coordinate regular financial audits and reviews
- Direct the management of a GHS1.37 billion bond liquidation, securing a 1% premium gain.
- Monitor and mentor/train junior staff to ensure the team's skills and knowledge are current.
- Collaborate with State Agencies (GRA, MoF, EC etc) and other relevant external parties.
- Direct and facilitate revenue collection and other important reconciliations with state-owned firms.
Sunon Asogli Power (Ghana) Ltd Co., Tema - Ghana
Senior Accountant
January 2018 - December 2018
- Responsible for maintaining and reporting on the company's financial records, ensuring compliance with IFRS standards.
- Collaborated with the tax department to identify and reduce the company's tax liability, resulting in 8% tax savings.
- Supervised a team of 4 accountants and collaborated with various departments to improve the efficiency and accuracy of financial reporting.
- Review contract payments and manage accounts payable and receivable.
- Ranked in the top 3% of outstanding staff for the year.
- Directed cash flow, treasury, reduced forex risk, and monthly revenue bill preparation.
- Liaised with State Agencies (ECG and Ministry of Finance) for payments and reconciliation.
Sunon Asogli Power (Ghana) Ltd Co., Tema - Ghana
Accountant
January 2015 - December 2017
- Executed wired transfers, and reconciled bank statements and ledgers.
- Facilitated the preparation of annual financial reports and analysis.
- Verification of transactions and making appropriate general ledger entries.
- Assist Senior Accountant in monthly, and yearly accounts closure and annual audit.
- Increase interest income by 6% via review of overlooked and mishandled funds by the bank.
- Reviewed and recovered USD112,802.40 due to a double payment error made by our bank.
- Coordinated banking relationships and ensured timely statutory filings.
- Researched new accounting standards to maintain regulatory compliance.
- Audit monthly statutory returns computation accuracy and completeness.
University of Professional Studies, Accra, Ghana
Graduate Assistant - Management & Financial Accounting
January 2012 - June 2013
- Directed and coordinated a successful tutorial and small group lessons periodically resulting in a 10% improvement in overall student performance.
- Facilitated in preparing and administering exams, resulting in a more efficient and organized testing process.
- Collaborated with faculty members to develop course materials and lectures enhancing the learning experience for students.
- Provided feedback and guidance to students working on their thesis.
Ghana Health Service, Akim-Oda , Ghana
Assistant Human Resource Officer - Service Personnel
October 2010 - September 2011
- Engaged in preparing and administering reports and minutes, resulting in more efficient and organized meetings.
- Compiled and processed employee data for payroll and benefits, maintaining accurate records.
- Spearheaded the development and implementation of the Staff Nominal Database using MS Access, eliminating data duplication issues in the office.
- Enhanced operational efficiency by identifying staff grades due for promotion more effectively.
Volta River Authority, Akosombo, Ghana
Administrative Officer - Intern
June 2009 - August 2009
- Collaborated with the Principal Administrator in executing administrative tasks.
- Engaged in monthly stocktaking and assisted with bank and ledger reconciliation in the accounts department.
- Designed and directed the Staff Training and Development Database using MS Access, aiding in the identification of employees in need of further training or course updates.
- Provided training to staff on how to use the database effectively.
Education
Certificates & Badges
No certificates or badges added
Projects
The Effect of Ownership Structure and Corporate Governance on Capital Structure of Ghanaian Listed Manufacturing Companies.
•https://doi.org/10.6007/IJARAFMS%2FV4-I1%2F547Author (Partner)
The study explores the relationship between ownership structure and corporate governance on the capital structure of some listed manufacturing companies in the Ghana Stock Exchange. This study was motivated by the fact that although the concept of corporate governance has been researched in literature, no clear evidence exists of its study in Ghana relating to ownership structure on leverage. The study covers the period 2007 to 2011 for which firm-level data for eight (8) randomly selected manufacturing listed companies from the Ghana Stock Exchange has been examined by using descriptive, correlation, and multivariate regression analysis. Corporate governance variables employed are board size, board composition, and CEO/Chair duality. The impact of ownership has also been examined by using managerial and institutional shareholding. Similarly, the influence of controlled variables like firm size and profitability on firms’ financing mechanisms is also investigated. Results reveal that Board Size, Board Composition, and Institutional, and Managerial shareholding are significantly correlated with leverage ratio positively, whereas it is negatively influenced by CEO/Chair duality.
However, firm size and return on assets are found to have a positive and negative significant effect on capital structure respectively. Therefore results suggest that corporate governance and ownership structure play an important role in a firm’s capital mix determination.
Languages
English
Professional
Skills
Data Analysis
Microsoft Office
SAP
Financial Accounting
International Financial Reporting Standards (IFRS)
GAAP
Power BI