Cost Accountant/Finance Analyst

JOB PURPOSE : The Cost Accountant will be responsible for managing financial activities, including contract sales, subcontractor invoices booking, reconciliations, VAT filing, MIS reporting, and finalization of audit, maintaining various schedules etc. This role requires strong attention to detail, proficiency in financial accounting, and the ability to manage multiple tasks efficiently. KEY RESPONSIBILITIES : 1. Contract Review: • Conducted monthly line-by-line reviews of contract data with the Contracts team to verify accuracy and completenessPrepare a contract-wise Profit & Loss for every project, showing revenue, direct cost, subcontract cost, allocated overheads, gross margin and net margin. • Analyse each contract P&L: budget vs actual, prior month vs current month, cost-to-complete, margin erosion and over/under billing (WIP). • Identify and explain significant variances, loss-making contracts and cost overruns, with root cause. • Present all contract P&L data in the company MIS format, ensuring consistency across projects and periods. • Reconcile contract-wise P&L totals to the general ledger and the CVR (Cost Value Reconciliation) before submission. 1.Contract Sales: • Monitor, verify and Analyse and contract sales and cost for all projects. • Co-ordinate with operations team to ensure correct MIS • Reconcile contract records with CVR • Monitor billing and ensure timely invoicing as per contract terms. 2. Accounts Receivable (AR) Schedule • Customer Invoicing-Maintain records of all customer invoices and ensure they are issued accurately and timely. • Collections Management-Monitor outstanding receivables, follow up on overdue accounts, and manage the collection process. • Prepare an aging report of receivables to identify overdue accounts. 3. Invoices Booking: • Review and book subcontractor invoices in the accounting system. • Verify the accuracy and completeness of subcontractor invoices against the contracts. • Reconcile subcontractor statements with booked invoices. • Coordinate with project managers and subcontractors to resolve any discrepancies. . 4.Accounts Payable (AP) Schedule: • Track all vendor invoices and ensure they are processed for payment accurately and timely. • Schedule payments to vendors, ensuring cash flow is managed effectively. • Prepare an aging report of payables to manage due dates. 5. Cost Management and Control • Job Costing - Allocate costs to specific projects accurately, tracking expenses against budgeted amounts and identifying variances. • Overhead Allocation: Distribute indirect costs (such as administrative expenses) across various projects to determine their true profitability. 6.Systems and Processes • Software Management: Implement and manage accounting software tailored to the construction industry, ensuring data accuracy, and facilitating efficient financial management. • Process Improvement: Continuously seek ways to improve accounting processes, enhance efficiency, and reduce costs. 7.Bank Reconciliations: • Perform monthly bank reconciliations for all company bank accounts. • Compare bank statements with accounting records to identify and resolve discrepancies. • Ensure timely and accurate completion of bank reconciliations. • Investigate and clear any outstanding items. 8.Intercompany Reconciliations: • Perform intercompany reconciliations to ensure transactions between affiliated entities are accurately recorded. • Reconcile intercompany balances on a regular basis. • Address and resolve any discrepancies in intercompany accounts. • Maintain accurate records of intercompany transactions. 9.VAT Filing: • Prepare and file VAT returns in compliance with local tax regulations. • Maintain accurate records of VAT transactions. • Reconcile VAT payable and receivable accounts. • Address and resolve any VAT-related queries or issues with the VAT Auditors 10.MIS Reporting: • Assisting monthly and annual Management Information System (MIS) reports. • Analyze financial data to provide insights and recommendations to management. • Collaborate with the Commercial Team to ensure the accuracy and timeliness of MIS reports. • Present financial reports to management and stakeholders as required. 11.Maintaining Balance sheet Schedules • Tracking Prepaid Expenses: Ensure all prepaid expenses, such as insurance, rent, and maintenance contracts, are tracked accurately. • Amortization of Prepaids: Regularly amortize prepaid expenses to the income statement over their useful life, ensuring expenses are matched with the period they benefit. • Recording Deposits: Maintain a schedule of all deposits made, ensuring accurate recording in the accounting system. • Interest Tracking: Track interest earned on deposits and ensure it is recorded correctly. • Provision Tracking: Record and monitor provisions for liabilities such as warranties, legal disputes, or future expenses 12.Fixed Asset Register (FAR) • Asset Tracking: Maintain a detailed register of all fixed assets, including acquisition date, cost, depreciation, and disposal information. • Depreciation Calculation: Calculate and record depreciation expenses for all fixed assets, ensuring compliance with applicable accounting standards. 13. Finalization of Audit: • Assist in the preparation of financial statements and supporting documents for audit. • Liaise with external auditors and provide necessary documentation and support. • Address audit queries and ensure timely resolution of audit findings. • Implement recommendations from auditors to improve financial processes and controls. 14.Liaising with Banks Operations, and Client Representatives During the Issuance of Bank Guarantees for Specific Projects • Application Process: Prepare and submit the necessary documentation to apply for bank guarantees, ensuring all forms and supporting documents meet the bank's requirements. • Coordination for Issuance: Coordinate with the bank to facilitate the timely issuance of bank guarantees, addressing any queries or additional information requests from the bank. • Documentation and Information: Gather and compile all project-related documentation and information required for the bank guarantee application. • Understanding Client Requirements: Communicate with the client representatives to understand their specific requirements and expectations regarding the bank guarantee. KNOW HOW & EXPERIENCE: • B.com with CA or CMA, or MBA (F); CA(Inter) or CMA(Inter) candidates may also be considered if suitable. • 5-7 years of work experience, preferably in the UAE Construction Contracting • Excellent soft skills and AI skills • Demonstrated experience of using Microsoft office, particularly Excel and

B.com with CA or CMA, or MBA (F); CA(Inter) or CMA(Inter) candidates may also be considered if suitable. 5-7 years of work experience, preferably in the UAE Construction Contracting. Excellent soft skills and AI skills. Demonstrated experience of using Microsoft office, particularly Excel

1. Contract Review: Conduct monthly line-by-line reviews of contract data with the Contracts team to verify accuracy and completeness; prepare a contract-wise Profit & Loss for every project, showing revenue, direct cost, subcontract cost, allocated overheads, gross margin and net margin. Analyse each contract P&L: budget vs actual, prior month vs current month, cost-to-complete, margin erosion and over/under billing (WIP). Identify and explain significant variances, loss-making contracts and cost overruns, with root cause. Present all contract P&L data in the company MIS format, ensuring consistency across projects and periods. Reconcile contract-wise P&L totals to the general ledger and the CVR (Cost Value Reconciliation) before submission. 1.Contract Sales: Monitor, verify and Analyse and contract sales and cost for all projects. Co-ordinate with operations team to ensure correct MIS. Reconcile contract records with CVR. Monitor billing and ensure timely invoicing as per contract terms. 2. Accounts Receivable (AR) Schedule: Customer Invoicing-Maintain records of all customer invoices and ensure they are issued accurately and timely. Collections Management-Monitor outstanding receivables, follow up on overdue accounts, and manage the collection process. Prepare an aging report of receivables to identify overdue accounts. 3. Invoices Booking: Review and book subcontractor invoices in the accounting system. Verify the accuracy and completeness of subcontractor invoices against the contracts. Reconcile subcontractor statements with booked invoices. Coordinate with project managers and subcontractors to resolve any discrepancies. 4. Accounts Payable (AP) Schedule: Track all vendor invoices and ensure they are processed for payment accurately and timely. Schedule payments to vendors, ensuring cash flow is managed effectively. Prepare an aging report of payables to manage due dates. 5. Cost Management and Control: Job Costing - Allocate costs to specific projects accurately, tracking expenses against budgeted amounts and identifying variances. Overhead Allocation: Distribute indirect costs across various projects to determine their true profitability. 6. Systems and Processes: Software Management: Implement and manage accounting software tailored to the construction industry, ensuring data accuracy, and facilitating efficient financial management. Process Improvement: Continuously seek ways to improve accounting processes, enhance efficiency, and reduce costs. 7. Bank Reconciliations: Perform monthly bank reconciliations for all company bank accounts. Compare bank statements with accounting records to identify and resolve discrepancies. Ensure timely and accurate completion of bank reconciliations. Investigate and clear any outstanding items. 8. Intercompany Reconciliations: Perform intercompany reconciliations to ensure transactions between affiliated entities are accurately recorded. Reconcile intercompany balances on a regular basis. Address and resolve any discrepancies in intercompany accounts. Maintain accurate records of intercompany transactions. 9. VAT Filing: Prepare and file VAT returns in compliance with local tax regulations. Maintain accurate records of VAT transactions. Reconcile VAT payable and receivable accounts. Address and resolve any VAT-related queries or issues with the VAT Auditors 10. MIS Reporting: Assisting monthly and annual MIS reports. Analyze financial data to provide insights and recommendations to management. Collaborate with the Commercial Team to ensure the accuracy and timeliness of MIS reports. Present financial reports to management and stakeholders as required. 11. Maintaining Balance sheet Schedules: Tracking Prepaid Expenses, Amortization of Prepaids, Recording Deposits, Interest Tracking, Provision Tracking. 12. Fixed Asset Register (FAR): Asset Tracking, Depreciation Calculation. 13. Finalization of Audit: Assist in the preparation of financial statements and supporting documents for audit. Liaise with external auditors and provide necessary documentation and support. Address audit queries and ensure timely resolution of audit findings. Implement recommendations from auditors to improve financial processes and controls. 14. Liaising with Banks Operations, and Client Representatives During the Issuance of Bank Guarantees for Specific Projects: Application Process, Coordination for Issuance, Documentation and Information, Understanding Client Requirements.