Project Accountant

Location: Abu Dhabi

Department: Finance

Reports To: Finance Manager / Project Manager

Job Summary:

The Project Accountant will be responsible for managing and overseeing all accounting activities related to specific projects within the company. This includes ensuring accurate project financial reporting, budgeting, cost control, invoicing, and cash flow management. The role requires close collaboration with project managers, clients, vendors, and the internal finance team to ensure the financial success of the project.

Key Responsibilities:

Project Accounting & Financial Management:

• Maintain up-to-date project accounting records, including budgets, expenditures, and income.
• Monitor project costs, revenue recognition, and ensure alignment with the overall financial plan.
• Track project costs and prepare financial reports for project managers and senior management.
• Ensure that all project-related financial activities are performed in accordance with company policies and accounting standards.

Budgeting & Forecasting:

• Assist project managers in the preparation of budgets for new projects.
• Monitor and analyze budget variances, providing insights and recommendations to project managers.
• Assist with the development of cash flow forecasts to ensure proper project financing.

Invoicing & Receivables:

• Prepare client invoices in line with contractual terms, ensuring timely and accurate billing.
• Follow up on accounts receivable to ensure timely collections and resolve any discrepancies.
• Reconcile project-related receivables and payables to ensure accuracy.

Cost Control & Analysis:

• Review and approve project-related costs, ensuring compliance with the budget.
• Conduct regular cost variance analysis and suggest corrective actions where necessary.
• Manage vendor payments and ensure proper documentation and approvals.

Reporting:

• Generate regular project financial reports for internal and external stakeholders.
• Ensure timely submission of project financial data to the finance department for consolidated financial reporting.
• Assist in the preparation of audit reports related to project accounts.

Compliance & Documentation:

• Ensure compliance with all legal, regulatory, and company standards for project financial management.
• Maintain organized financial records for each project, including contracts, payment schedules, invoices, and financial statements.
• Coordinate with external auditors and assist with project-related audits.

Key Skills & Competencies:

• Strong knowledge of accounting principles and project cost control.
• Proficiency in accounting software (e.g., QuickBooks, SAP, Oracle) and MS Excel.
• Analytical mindset with attention to detail.
• Excellent communication skills and ability to collaborate with project teams.
• Ability to work under pressure and meet tight deadlines.
• Problem-solving skills and the ability to resolve project-related financial issues.

Qualifications & Experience:

• Bachelor’s degree in Accounting, Finance, or a related field.
• CPA or CMA certification is preferred.
• Minimum of 5 years of experience in project accounting, ideally in the construction or fit-out industry.
• Experience working with large-scale projects and familiarity with project-based accounting.
• Knowledge of local tax regulations and compliance requirements in the UAE.