Project Accountant

Job Description

• Create project accounts in the accounting system
• Maintain project-related records, including contracts and change orders
• Review supplier invoices related to a project
• Review time sheets for work related to a project
• Review overhead charges to be applied to a project
• Review account totals related to project assets and expenses
• Investigate project variances and submit variance reports to management
• Follow up on receivables and unpaid contract billings
• Report on project profitability to management
• Report to management on any opportunities for additional billings
• Report to management regarding the remaining funding available for projects
• Create / Review all project-related billings to customers
• Investigate all project expenses not billed to customers
• Close out project accounts upon project completion
• Prepare / Maintain projects reports to management
• Review projects budget and costing working documents
• Partake in formulation and implementation of financial policies and procedures and implement controls for the area(s) within the scope of responsibility.
• Ensure timely and accurate financial transactions for the area(s) within the scope of responsibility in line with the approved policy, plans and applicable standards.
• Effectively liaise with relevant internal and external concerned parties to assure the timely and optimal execution of tasks at the area(s) within the scope of responsibility.
• Partake in the development, monitoring, and reporting of KPIs (Key Performance Indicators) to effectively monitor performance against targets at area(s) within the scope of responsibility.
• Review, verify, reconcile and record invoices, debit and/or credit notes, petty cash, credit card transactions and other related adjustments in accordance with the approved policies, procedures, and applicable regulatory requirements and standards for the area(s) within the scope of responsibility.
• Verify, reconcile and process payments and collections in accordance with the approved policies, procedures, and applicable regulatory requirements and standards for the area(s) within the scope of responsibility.
• Perform monthly closings and journal entries in order to generate concise and standardized accounting statements in the area(s) within the scope of responsibility
• Perform data analysis and prepare timely reports within the scope of responsibility.
• Ensure that all required data, information, documentations and reports are kept updated in the ERP system at the area(s) within the scope of responsibility.
• Maintain the physical and electronic archives and filing system(s) for the area(s) within the scope of responsibility.
• Identify and propose improvement initiatives based on current performance and/or future requirements and partake in their implementation for the area(s) within the scope of responsibility.
• Partake in ensuring proactive and effective measures, actions, and controls are in place to mitigate risks and assure compliance with relevant approved policy and procedures for the area(s) within the scope of responsibility.
• Partake in testing the effectiveness of the design and implementation of Internal Controls over Financial reporting (ICoFR) for the area(s) within the scope of responsibility.

Skills

• Minimum Bachelor degree in Accounting or equivalent
• 05-08 years of experience, preferably 03 years in a similar field within the same industry, depending on academic qualification
• Any relevant professional certificate in Financial accounting or equivalent is beneficial.
• Knowledge of taxation procedures, protocols and guidelines.
• Experience in construction contracts accounting
• Knowledge on revenue recognition method for short term and long term contracts, billed and unbilled revenue and progress billing documentation and certification
• Participating in projects budget preparation
• Understanding of projects backlog report, projects related guarantees, cost capitalization concept, accrued cost calculation and recording
• Ability to prepare projects financial progress reports 
• Strong numerical and analytical skills
• Ability to manage multiple tasks under deadline
• Excellent communication & presentation skills
• Excellent written business communication skills
• Excellent ability to gather and analyse information
• Proficient in Microsoft Office and familiar with Integrated ERP Systems (SAP is essential).
• Fluent in English and Arabic is beneficial