Senior Accountant Corporate

Roles and responsibilities

• Maintain and Update the Memorandum Fixed Assets Register (FAR) for ADNOC Sour Gas for capex cost captured through the work breakdown structure (WBS) in SAP.
• Review and align the asset classification in the memorandum FAR with ADNOC guidelines so as to facilitate consolidation at Group level.
• Maintain memorandum fixed assets files along with respective memorandum depreciation based on useful lives and apply componentization where applicable in line with group guidelines.
• Prepare the Quarterly Fixed Asset Reporting Package to be submitted to ADNOC.
• Update the fixed assets, depreciation and net book value along with CWIP for each quarter in BPC system for ADNOC consolidation.
• Participate and provide training for new systems impacting fixed assets such as Mojodat and the SAP Fixed assets module.
• Participate and lead the physical verification and tagging of fixed assets exercise along with ADNOC HQ and assigned consultants, where applicable
• Provide the monthly memorandum depreciation numbers to the reporting team for updating the monthly BPC submission on actuals.
• Co-ordinate with EAM team and focal points for aligning/ reconciling between the financial fixed asset
• Maintain and update the policy and procedure document relating to Fixed assets and covering various areas such as Impairment, treatment of intangibles, componentization, capitalization date, manpower
• Run the monthly settlement for fixed assets and CWIP in the SAP system
• Sound Knowledge of IFRS, and IAS 16- Property plant & Equipment and required treatment for PPE.
  

Qualifications And Experience

• Bachelor's Degree in Accounting / Finance or equivalent.
• 8 years' experience in fixed asset accounting, preferably in the oil/gas or petrochemical industries.
• Excellent written and oral communication skills in English, Arabic language would be an advantage.
• Excellent understanding of Financial Systems, Analytical Skills and Data analysis.

Key Responsibilities of a Senior Accountant

• Financial Reporting and Analysis :

  • Preparing monthly, quarterly, and annual financial statements.
  • Analyzing financial data to ensure accuracy and completeness.
  • Ensuring financial reports comply with GAAP or IFRS standards.
  • Reviewing balance sheets, income statements, cash flow statements, and other financial reports.

• General Ledger Maintenance :

  • Overseeing the maintenance of the general ledger, ensuring all transactions are recorded accurately.
  • Managing journal entries, month-end and year-end closing processes.

• Budgeting and Forecasting :

  • Assisting in the preparation of budgets and financial forecasts.
  • Performing variance analysis and providing insights into budget vs. actual performance.

• Reconciliation and Audits :

  • Reconciling accounts, including bank, vendor, and intercompany accounts.
  • Leading or assisting with internal and external audits.
  • Ensuring compliance with financial regulations and company policies.

• Supervising and Mentoring :

  • Supervising junior accountants and accounting clerks.
  • Training and guiding staff on accounting procedures and best practices.
  • Reviewing work completed by junior staff to ensure accuracy.

• Tax Compliance and Reporting :

  • Assisting with the preparation of corporate tax returns and ensuring compliance with tax laws.
  • Coordinating with external tax advisors to ensure tax filings are accurate.

• Internal Controls and Risk Management :

  • Establishing and enforcing internal controls to minimize financial risk.
  • Identifying areas of operational inefficiency or financial risk and suggesting improvements.

• Cost Accounting :

  • Analyzing costs and providing insights to improve operational efficiency and profitability.
  • Preparing cost allocation models and ensuring accurate product or service cost reporting.

• Financial Systems Management :

  • Implementing and maintaining accounting software and systems.
  • Identifying opportunities for system improvements to streamline accounting processes.

Key Skills for a Senior Accountant

1. Advanced Technical Accounting Skills

• In-depth knowledge of GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).
• Strong proficiency in accounting software like SAP , Oracle , QuickBooks , or NetSuite .
• Expertise in financial statement preparation , budgeting , and forecasting .

2. Analytical Skills

• Ability to analyze complex financial data and translate it into actionable insights.
• Proficient in variance analysis to explain differences between budgets, forecasts, and actual performance.
• Identifying trends in financial performance and providing recommendations.

3. Supervisory and Leadership Skills

• Leading and mentoring a team of accountants and finance staff.
• Delegating tasks and managing the workflow of the accounting department.
• Providing training and ensuring team members adhere to best accounting practices.