Our Services
Outsourcing Services
- Maintaining accurate and updated records of all of your company’s/Client’s financial activity in any accounting system provided by you
- Preparation of Value Added Tax Returns (VAT)/ BAS on monthly/quarterly basis and Income tax on annually
- Preparing business models in obtaining additional banking facilities or loans
- Managing Strata clients whole back office process
History
- With the development of sophisticated software for recording and reporting organizational performance, role of Finance Managers/ Management Accountants/ Chief Finance Officers became quite easy to task, since ERPs produced all necessary data analysis required by the Management. Still the role of CFO is remaining essential to any organization in order to interpret data and reports produced by the ERP systems.
- The average day of a CFO is riddled with issues and complications, what with their ever-changing roles due to higher client expectations. The traditional CFO role in financial management has evolved into one with comprehensive strategic planning. Living up to client expectations with the proliferation of technology has become an arduous task
- We researched the overall annual cost of CFOs/ Finance Managers/Management Accountants in medium sized companies, which revealed most of directors/owners of the business value the CFOs task as important to the organization in various ways, but considered to be very expensive to the business due to high competition and margin shrinkage. When we measure the constructive time spent on REAL CFOs task per day was somehow limited to less than 3 hours.
- We found a solution to that consolidating the knowledge and skill of CFOs and providing the same service remotely as and when required by the organization. We have pool of highly qualified professionals with long years of industrial experience and expertise. Click here to check profiles
Team Members
Nishantha Bohothalearachchi
( ACA, BSc(Phy), MFE )
Qualifications : Nishantha studied at Nalanda College Colombo and selected to the University of Colombo for the degree in Mathematics. He completed his degree in 2001 and became a fully qualified Chartered Accountant by 2003. He had an interest on economic development and followed his masters in Financial Economics with a merit pass in 2014. Then he started his PHD in Economics in the same university.
Experience: Nishantha has very wide range of experience pitching his career at right place for his professional development. Nishantha has experience in following sectors.
- Garments
- Tyre and Rubber sector
- Professional Service
- Civil construction and telecommunication
- Business Process Outsourcing
- Agriculture
- Import and Export
- Manufacturing & FMCG
Nishanthas' experience was not limited to Sri Lanka, but also widely spread over Asian continent especially many cities in India, and Bangladesh.
He being founder of COMMONCFO having expertise in financial management, banking, Import and export procedures, Accounting, economics and process implementation and controls.
Devasiri Prasantha
ACA, MBA(Fin), BSC(Maths)
Qualifications : Prashantha graduated from University of Colombo in the Mathematics stream and became a Chartered Accountant in 2005. His interest in specializing in Finance during MBA was supported to enhance his knowledge far beyond the ordinary finance professionals.
Experience: Prashantha, Started his career at PWC and was shifted across to many sectors as follow.
- Insurance
- Banking and Finance
- Telecommunication
- Agriculture exports
Prasantha possess expertise on designing and implementing management controls and internal control systems, solving complex financial and liquidity problems, improving the existing business processes and sphere heading his team to achieve set targets. Further he is analyzer and interpreter of new and existing tax laws. Prasantha is facilitating Company secretarial work including formation, restructuring and liquidation.
Madhura V. De Silva
( ACA, MBA )
Madura is a member of Institute of Chartered Accountants of Sri Lanka and possess specialist in Finance and Risk Management. Madhura‘s career spans over 18 years where he has been extensively involved in providing advisory and assurance services to multi-nationals and diversified conglomerates in Sri Lanka with a focus on strengthening process/control efficiencies and risk, governance and compliance aspects.
In providing professional services to clients, Madhura has been involved in processes and controls reviews, procurement reviews, process standardizations, finance transformations and business process reengineering assignments. His experience spread over to Maldives, Papua New Guinea and Botswana.
Madhura accounts for vast amount of experience in consulting where he has been successful in carrying out international assignment of reviewing systems and processes, financial statements and delivering review opinions to Telecommunication, Oil and Gas, Retail, FMCG, Manufacturing, Plantation, financial services, IT/ISP, and Education.
Relevant Work Experience- Performed a Business Process Review for the Government of Maldives; conducted at the Ministry of Finance and Treasury. SAP re-implementation proposal was provided to the Government by focusing on controls, efficiencies and public sector specific BI reporting requirements.
- Performed a process and control review related to procurement, goods clearing, warehousing and payment procedures of a reputed trading company in Sri Lanka. Validated the blueprint issued by the system vendor with the to-be processes designed by the PwC team.
- Carried out process standardization assignment for the largest apparel manufacturing group in Sri Lanka with the focus on providing recommendations and new developments to existing SAP system.
- Performed financial effectiveness and procurement reviews along with performance assessments for the Ministry of Health, Sri Lanka with the view of identifying process inefficiencies, control gaps and non-compliance with the National Procurement Guidelines. Recommended process improvements to the Government Accounting System considering required controls in the Government
- Carried out finance process reviews along with evaluation of existing ERP systems.
Capacity assessments and financial performance evaluation of companies were carried out covering financial management and systems, budgets, internal controls, financial reporting, staffing, accounting policies and procedures, internal audits and external audits, reporting and KPIs.
