David Boyce has over 30 years of finance experience across various industries. He holds a CPA and Bachelor of Business in Accounting. His most recent role was as a Financial and Management Accountant for RELN PTY LTD from 2015-2016. Prior to that he held several financial controller and head of finance roles for companies like FAST AND FLUID MANAGEMENT, VALSPAR GROUP OF COMPANIES, and PACIFIC AVIATION PTY LTD. He has a proven track record of enhancing financial reporting and controls, reducing costs, and mentoring finance teams.

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David Boyce
8 Haerse Avenue
Chipping Norton NSW 2170 (02) 9601 1836 - Home
0438 579 142- Mobile
oz-loz@bigpond.com
Capability Statement
I am an accomplished and hands-on finance professional with strong financial and
operations experience with an excellent business and commercial acumen.
Qualifications
Certified Practicing Accountant (CPA)
Bachelor of Business (Major in Accounting)
Career Outline
RELN PTYLTD – CONTRACT ROLE Nov15 – Oct16
Financial and Management Accountant.
FAST AND FLUID MANAGEMENT Dec 09 – June14
Financial Controller – Asia Dispensing Operations
VALSPAR GROUP OF COMPANIES Oct 98 – Feb 09
Financial Controller – Australia & New Zealand Operations 2006 - 2009
Head of Finance – Australia & Asia Operations 2001 - 2006
Financial Controller – Australia 1998 - 2000
TNT LOGISTICS ASIA-CONTRACT ROLE 1995 – 1998
Financial Controller – China Operations
Group Accounting Manager
Special Projects Accountant
GATEWAY ENGINEERING PTY LTD – CONTRACT ROLE 1994 -1995
Financial Controller
PACIFIC AVIATION PTY LTD. 1985 -1994
Commercial Manager
Finance Director / CompanySecretary
Chief Accountant

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Career Experience
RELN PTY LTD
Business Overview.
Reln is a privately owned operation with a turnover approximately AUD 50 million.
Reln is a multi-award winning and quality-endorsed Australian company, known for designing
and producing innovative quality plastic products for the Australian and international markets.
Widely acclaimed in both industry and environmental forums, Reln manufactures its own
lines of domestic and industrial products with applications as diverse as surface water
drainage, plumbing, agriculture, aquaculture and gardening. Reln also provides design and
product management for leading manufacturers in the packaging, automotive, medical,
electronic goods and consumer industries.
Direct Reports – 2 Accounts Receivable and 1 Accounts Payable.
Key Achievements
 Mentoring of senior management on understanding of the key business metrics
 Completed a due diligence review of numbers on appointment and rectified anomalies
to ensure the integrity of the financial numbers.
 Reduced monthly P&L reporting from 15 to 6 working days.
 Introduced and produced monthly KPIand Capex reporting.
 Introduced and produced monthly management reporting package.
 Developed with manufacturing manager daily reporting on raw material usage variances
and machinery efficiency for daily management reporting.
 Reduction of DSO metric by 10 working days.
FAST AND FLUID MANAGEMENT AUSTRALIAPTY LTD
Fast and Fluid Management is a Business Unit of IDEX Corporation Inc. which is a listed on the
New York Stock Exchange with corporate head office located in Chicago.
Business Overview.
The business unit has a sales budget of USD25m for 2014.
The operation until September 2011 was involved in the assembly of manual paint dispensers,
shakers and mixers to a worldwide customer base and the sales, distribution of automatic paint
dispensers to the Australian market. Assembly process now transition to an IDEX share
manufacturing facility in China and India. Current business model is now focusedon the sales
service and distribution of the global dispensing product range through the Australian and Asian
markets.
KeyAchievements
 Mentoring of senior management on understanding key business metrics
 Completed a due diligence review of numbers on appointment and rectified anomalies
to ensure the integrity of the financial numbers.
 Introduced a comprehensive budget and forecast model for use in the business.
 Developed a management reporting system for senior management. Previously nothing
produced.
 Developed sales and margin reporting from the ERP system. Previously no reporting
from the system.
 Oversaw the upgrade of the Australian standard cost system.
 Developed comprehensive reporting on Excess, Obsolete and Zero moving Inventories.

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 Developed with the China operation a comprehensive Purchase Price Index reporting.
 Ensured compliance and on time reporting to the US on corporate requirements.
 Worked with the US tax team in developing a Dispensing B.U. transfer pricing
mechanism.
 Control of Purchasing, Inventory Management and Warehousing functions.
 Reduced stock take losses from 4% to under ½ % of total inventory through improved
controls.
 Obtained ASIC Class Order relief for IDEXAustralian operations in 2011 resulting in
Audit Fee reductions of $100k p.a.
 Received highest grading acknowledgement from IDEXCEO for recent internal audit
conducted by IDEX Internal Audit team.
THE VALSPAR CORPORATION
Valspar is a leading global coatings and paint manufacturer and distributor. The Corporation is
listed on the NYSE with their corporate head office based in Minneapolis. Net Sales for the year
ended 2008 were USD 3,482 million with nearly 10,000 employees and operations and offices
in 25 countries.
VALSPAR AUSTRALIAAND ASIAN OPERATIONS. – HEAD OF FINANCE 2001 - 2006
Net Sales during my tenure were USD 200million with manufacturing operations in Australia (2),
China (3), Taiwan, Singapore, Malaysia, Vietnam, and warehouse and technical facilities in
Japan, Indonesia, Philippines and 5 sites within Australia and New Zealand. The sales for the
region over the last 10years have grown over 300% and this growth has been achieved by spin-
offs from global acquisitions and organic growth. The finance team comprised 6 direct reports
and total staff of 70. The position reported to the Vice President of Finance in the U.S. with a
dotted line responsibility to the Regional President.
KeyAchievements
 Right hand man to the President of the Asia Pacific operations in delivering an
integrated and profitable business that consistently met or exceeded stretch targets.
 Right hand man to the President of the Asia Pacific operations in acquiring and
integrating several medium sized businesses in the region.
 Developed and implemented standardised forecasting, financial and manufacturing
reporting framework through the region for internal stakeholders.
 Project sponsor for the implementation of the Batch Master Enterprise ERPsystem
throughout the Asian operations.
 Implemented programs that reduced trade working capital levels through the Asia
region. DSO reduced by 25%, DPO increased by 15% and reduced inventory turns by
15%.
 Implemented structured review processes with internal stakeholders that significantly
reduced risk associated with trade working capital components and highlighted areas
where reduction in operating expenses were achievable.
 Developed a regional finance team that performed in unison despite the various social
and business cultures in the region.
 Effectively managed the regional finance team and worked closely with other functional
teams such as sales and marketing, in understanding our markets and customer needs.
 Built strong personal and professional bridges to the Corporate and Finance and
Administrative functions and managed within the corporate framework.
VALSPAR AUSTRALIAAND NEWZEALAND OPERATIONS – FINANCIAL CONTROLLER
1998-2000 AND 2006 -2009

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Acquired in 1998 by Valspar with sales of AUD 54 million the Australian surface coatings
business operation achieved 2008 Sales of AUD 90 million. This growth has been achieved
through a combination of organic growth and bolt on acquisitions. Profitability has increased
from an initial loss position at acquisition to achieving a record operating profit of 10% on net
sales in 2008. The Australian operation currently has one manufacturing facility in NSW and
warehousing and technical facilities in Victoria, Queensland, Western Australia and New
Zealand and five retail outlets for the DIY Polyester Resin market. The finance team comprised
10 people. The position reported to the Finance Director for Global Coatings in the U.S. with a
dotted line responsibility to the Australian Managing Director.
In addition to the surface coatings operations the Valspar group included a company dealing
with providing warranty protection programs for the major furniture retail operators in Australia.
KeyAchievements
 Right hand man to the Managing Director in turning around the unprofitable Australian
business into a profit making enterprise.
 Finance team leader for the implementation of the Oracle ERP system in Australia.
 Reduced working capital levels in the Australian operation, DSO reduction 16%, DPO
increased by 10% and Inventory Turns by 13%.
 Overhauled the standard cost system for a process environment so that cost data
reflected more of a real time position and introduced sales pricing review models in
association with cost model. Changes required due to the volatile nature of raw material
costs, most raw materials oil based and the fluctuating supply cycle.
 Initiated expense review programs with internal stakeholders to highlight areas where
potential expense reductions could be achieved.
 Internal reporting cycle reduced from 10 days to 3 days.
 Streamlined internal reporting processes by generating reporting based on the needs of
internal stakeholders.
 Enhanced the integrity of financial data.
 Restructured and developed an efficient and effective finance team.
 Developed effective communication channels with non finance managers.
 Ensured that reporting deadlines for Local and US purposes were achieved and
developed effective communication channels with US reports.
 Successfully guided Australian operations through the SOXimplementation.
Overall Responsibilities within the Valspar Group.
1. Ensuring the integrity of the Company’s financial data so that stakeholders of the
Company can make informed business decisions.
2. An effective business partner to all levels of management within the local and
overseas operations.
Specific Role Responsibilities:
External reporting:
 Australian, Asian and USGAAP Statutory reporting obligations.
 Australian and Asia Income Tax, FBT, GST, VAT lodgements
 USGAAP Income Tax reporting.
 Statutory lodgements, examples being, Annual Returns, Director changes.
 Government and Industry statistical returns.
Internal reporting:
 Monthly, Quarterly and Year End Local and US Management reporting. Reporting
covered the following areas:
1 P&L – Detailed variance analysis against budget and forecast for sales, sales

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deductions, covering freight and customer rebates, raw material margin
performance, manufacturing performance, conversion costs and operating
expenses.
2 Risk issues associated with Balance Sheet categories.
3 Working Capital analysis.
4 Capital Expenditure analysis.
5 Treasury – forex risk.
6 Raw Material and Sales Pricing.
 Development of Strategic Plans, Targets and Budgets, which covered both financial
and non financial KPI’s.
 Management of the Monthly forecast process.
 Monthly cash forecasting with daily actual reports.
 Weekly sales, raw material margin, production performance against budget and
forecast.
Human Resource Issues:
 6 monthly performance reviews with all finance team members.
 Development of retention policies, covering remuneration, training, career
progression planning for finance team members.
Other:
 Interaction with external stakeholders, External auditors and tax advisors, Bankers,
Insurance Brokers, Customers, Suppliers.
 Customer contract reviews.
 Ensuring compliance with SOX requirements and management of external audit
review.
 Member of business management team.
Senior Consulting Roles
TNT Logistics Asia – Senior Accounting Roles 1995 -1998
A TNT Australia Division established to develop Greenfield logistics operations within the Asia
region based on a business model developed by McKinsey’s.
Achievements
 Developed and implemented financial processes in the China operation.
 Implemented P&L reporting for local and Australian management, plus contract
performance reporting.
 Hired and trained local staff into an effective an efficient finance team.
 Implementation of SUN accounting software.
 Worked with commercial managers in developing business solutions for customers.
GatewayEngineeringPtyLtd – Financial Controller1994 – 1995.
Local family company involved in the engineering and maintenance of underground mining
equipment acquired by US company to produce the Long Airdox battery powered underground
mining equipment for the local market.
Achievements
 Enhanced integrity of financial data so that management reporting reflected the

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underlying nature of the business.
 Reviewed compliance and risk issues and undertook appropriate action to rectify where
required.
 Completed a total upgrade of the job cost system, WIP and Inventory management
systems.
 Implemented where appropriate streamlined and efficient business processes.
 Successfully undertook an education process with the new managementon ensuring
that they understood the key business metrics for the company that drove profitability.
Pacific Aviation Pty Ltd – Chief Accountant, Finance Director and Commercial Manager –
1985 – 1994.
A general aviation company initially owned by Ansett Airlines and Consolidated Press Holdings
and finally by Impulse Airlines. The peak turnover for the operation was $60million and the
revenue was derived from Spare Parts, Maintenance and Engineering facilities, Aircraft Sales,
Aircraft Charter and Commuter Terminal Services.
Achievements
 Enhanced the integrity and presentation of the financial components of Board papers for
the joint Ansett / CPHBoard.
 Developed effective and efficient Finance and IT teams.
 Overall responsibility for the upgrade of ERP system AS38 to AS400.
 Improved working capital performance.
 Successfully negotiatiated with distributors / manufacturers/ FAC on contractrenewals,
business issues.
 Key member of acquisition and integration team for a major business acquisition.
 Member of senior management team.
Other Work Experience:
 Tyree – Westinghouse - Manufacturer of electrical transformers – Group Accounting
Manager.
 Hunter Douglas Ltd - Manufacturer of Building Products – Internal Audit and Divisional
Accounting roles.
 Chartered Accountants – involved in audits, company tax returns, company secretarial
and client accounting matters.
Personal Details
Professional Memberships: CPAAustralia – Membership No. – 190792
ERP Systems – Sage –Accpac , Leaseman, TIMS, Hyperion. Oracle, BME, SUN and IMAS400
Microsoft Application – Intermediate level with Excel, Word.
Interests: Golf, Rugby League, Cricket, Reading
References: Available on request.