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McGrathNicol

4.2
  • #11 in Accounting & advisory
  • 100 - 500 employees

Mahin Chaudhary

Mahin Chaudhary graduated with a Bachelor of Commerce and Business Management from the University of Queensland in 2019 and is now a Senior Accountant, Restructuring at McGrathNicol.

6.30 AM

I wake up, get dressed for the day and head to the train station. I always listen to ‘The Squiz’ podcasts as soon as I sit on the train to catch up on what’s going on in the world, followed by any other podcasts I am enjoying at the time.

8.20 AM

This is the time I start getting into the office. The first thing I do when I arrive is do a high-level review of my emails to make sure I do not miss anything that may be urgent. If there is anything critical that needs doing, I will attend to it. If I am comfortable nothing immediately is required like today, I head to the kitchen and make some breakfast. There are usually a few people making their morning coffees in the kitchen, so I stay for a bit and catch up with my colleagues.

8.50 AM

I then head back to my desk and respond to any overnight emails that need my attention. I also take note of any meetings and/or functions I have on my calendar for the day so I can plan my tasks accordingly. I then make a list of tasks that must be completed in order of priority. The world of Insolvency can be very unpredictable, so urgent tasks need to be highlighted so that even if the day completely changes, you are able to stay on top of your workload.

9.15 AM

I am working on an advisory job that is looking at a particular school and whether the school is complying with the governance and financial criteria they are required to meet. Today I am tasked to do a financial analysis of the school’s financial statements. I make sure to collate the important statements, including a Balance Sheet and a Profit and Loss. I prepare an Excel spreadsheet with the important figures from these statements and do some calculations to understand their earnings. I then do some ratio analysis (including the Quick ratio and Current ratio) to understand whether the school has sufficient funds to meet its current liabilities. I then prepare a file note with my findings which can then be inserted into the final report we will issue.

11.00 AM

I would usually buy a coffee in the morning, however today I have a coffee catch-up with a friend who works in the forensics service line at a nearby firm. We go to my current favourite coffee place, Archer.

11.30 AM

I tend to block some time during the morning to attend to any important calls that I may need to make. Today, I need to call a third party for a key, which will give us access to the warehouse of a company we were recently appointed Receivers and Managers over, a wholesaler in the female clothing industry.  The manager on the job and I will head to the company’s warehouse later today to assess any assets of the company. I also called a few creditors for another job in relation to some outstanding documents we require from them.

12.15 PM

We tend to have internal training sessions to ensure we are up-to-date with the latest law reform changes and also to improve our technical and soft skills in various areas. However, today there is no training, so I head to the 7/11 downstairs to grab a sandwich. I usually eat back upstairs in the kitchen where other colleagues are eating and catching up on each other’s day.

1.00 PM

The Manager on the job and I then head straight to the wholesaler’s warehouse after lunch where we meet the Agents. Once we arrive, we do a brief stocktake and understand the nature of the equipment (desktops, printers, furniture). I make a note of the important items and liaise with the Agents who will retrieve the assets so that they may be sold, and the net proceeds are transferred to the Receivers and Managers. Once we are comfortable that all valuable items are retrieved and we have provided the Agents with enough instructions, we head back to the office.

4.00 PM

There are some statutory lodgements that are required to be submitted when there is a Receivership appointment, so I spent the afternoon finalising these documents. I also drafted some emails to go to the Agents in relation to the forward asset realisation strategy as well as our usual insurer for potential insurance to be applied to the assets identified at the warehouse.

5.15 PM

I am completing a Remuneration Report for another Liquidation I am working on. A Remuneration Report is essentially a report we prepare that seeks approval from creditors in relation to our fees. Tonight, I finished up on the list of detailed tasks that were completed for the period we are seeking fee approval for. Once I am happy with the final version of the report, I send an email to the Manager on the job for approval and Partner review.

6.00 PM

I quickly skimmed through my to-do list to make sure I had completed everything I needed to for the day. Once I am happy with my completed tasks, I leave for the evening. Some nights we may have client meetings, panel discussions or other networking opportunities to attend, however, tonight I will head to the gym which is located conveniently right under our building on Eagle Street.

7.00 PM

If I don’t have any other plans for the night, I head to the train once I’m finished at the gym.

8.00 PM

Once I’m home, I’ll have dinner with my family, have a shower, relax and watch some Netflix.

11.00 PM

I head to bed around this time and try to have a good night’s rest.