Manager - Fixed assets & Inventory Control

Abu Dhabi Ports; Abu Dhabi; On-site; AED 120,000 - 150,000; Full time

Job summary

Abu Dhabi Ports is seeking an experienced accountant to manage Fixed Assets and Capital Work-in-Progress. The role requires strong accounting skills, a bachelor's degree in a relevant field, and ideally 5 years of progressive experience, including ERP knowledge.

The successful candidate will track and report on assets, ensure compliance with accounting standards, and support audits. Proficiency in English is essential, and knowledge of Arabic is a plus.

Qualifications

• 5 years of progressive accounting experience, including 1 year in fixed assets.
• Strong analytical and interpersonal skills.
• Knowledge of ERP systems, preferably Oracle Financials.

Responsibilities

• Ensure accurate accounting and reporting for Fixed Assets and Inventory.
• Monitor capital project spending against approved budgets.
• Record fixed asset acquisitions, disposals, and depreciations.
• Perform monthly reconciliations between sub-ledgers and the General Ledger.
• Coordinate with auditors and prepare notes for financial statements.

Skills

Analytical skills

Interpersonal skills

Knowledge of ERP (preferably Oracle Financials)

Written and spoken English

Knowledge of Arabic

Education

Bachelor’s degree in Accounting, Finance, or related field

Job description

Job Overview

Responsible for executing day-to-day activities to ensure timely and accurate closing, consolidation, and reporting of the Fixed Assets register, Capital Work-in-Progress, and inventory register in accordance with Abu Dhabi Port’s policies and procedures and in conformity with IFRS IAS.

Core Responsibilities

• Accurate accounting, reporting, and tracking of Property, Plant, and Equipment (PPE).
• Accurate accounting, reporting, and tracking of Investment Property (IP).
• Accurate accounting, reporting, and tracking of Capital Work-in-Progress (CWIP).
• Accurate accounting, reporting, and tracking of Inventory.
• Support all ERP sub-modules on document controls.
• Supervise the general ledger functionalities to ensure all accounting and reporting are accurate from FAR and PPM modules.
• Ensure accounting and posting are in line with Abu Dhabi Ports policies and procedures.
• Ensure periodic book closing is done as per management directions.
• Maintain and reconcile FAR and PPM records periodically.
• Prepare regular MIS reports.

Capital Work-in-Progress (CWIP) & Project Tracking

• Monitor and track all capital project spending against approved budgets.
• Review purchase orders and vendor invoices to ensure accurate coding to CWIP accounts.
• Conduct monthly reviews of aging CWIP projects and collaborate with project managers and end users to determine asset completion dates and project status.
• Lead the settlement or capitalization process, transferring assets from CWIP to PPE or IP upon commissioning.
• Maintain records of owned assets and assets developed for subsequent sales or recovery from authorities.

PPE & Investment Property Management

• Record fixed asset acquisitions, disposals, transfers, and impairments in the accounting system.
• Maintain an accurate and up-to-date Fixed Asset Register (FAR).
• Calculate and record monthly depreciation and amortization expenses according to company policy and accounting standards.
• Consolidate PPE and IP records across all subsidiaries and update FCCS records.
• Distinguish clearly between Fixed Assets for operational use and Investment Property held for capital appreciation or rental income and apply appropriate accounting treatment (Cost Model vs Fair Value Model).
• Reconcile records across all ERPs and sub-ledgers.

Checks and Verifications

• Check and verify the posting batches from all subsystems.
• Perform monthly reconciliations between the PPM Fixed Asset sub-ledger and the General Ledger (GL).
• Check and review all proposed monthly adjustments from other subsystems or at the GL level before posting.
• Review asset module entries, additions, deletions, and monthly depreciations.
• Check completeness and accuracy of FAR related transactions on a timely basis.
• Prepare monthly, quarterly, and annual roll-forward schedules for PPE, IP, and CWIP.
• Assist in the preparation of financial statement disclosures related to capital assets.
• Ensure full compliance with relevant accounting standards IFRS 16 Leases, IAS 16 PPE, IAS 40 Investment Property, or equivalents.
• Coordinate and support internal and external audit requests regarding capital expenditures.

Reconciliation

• Plan and execute periodic physical verifications of fixed assets across various locations.
• Investigate and resolve variances between physical counts and the asset register.
• Ensure proper tagging and tracking of physical assets.
• Co-ordinate on the reconciliation of control account with sub modules.

Auditor Interface

• Coordinate and prepare required notes to Financial Statements for audits as and when required.
• Liaise with internal, external, and government auditors.
• Provide auditors with all required General Ledger and subsystem financial data as and when required.
• Lead year-end audit as assigned by management for capital expenditure sections.

Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• Knowledge of ERP, preferably Oracle Financials.
• Good analytical and interpersonal skills.
• Professional competencies and a flexible approach.
• Experience: 5 years, progressive accounting experience, with at least 1 year dedicated specifically to fixed assets, CWIP, and capital project accounting.

Language Skills

• Written and spoken English is a must.
• Knowledge of Arabic is an added advantage.