Senior Accountant

Borouge PLC; Abu Dhabi; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading manufacturing company in Abu Dhabi seeks an experienced Accountant to manage core accounting functions related to fixed assets and inventories. You will perform financial reporting, ensure compliance with audit requirements, and collaborate with project managers for effective asset management. Applicants should have a university degree in accounting or finance and a minimum of 7-10 years of relevant experience, preferably in a manufacturing environment, along with proficiency in SAP S4Hana.

Qualifications

• Minimum 7-10 years of related experience in accounting, preferably in a manufacturing company.
• Fluent in English language; spoken and written.
• Computer literate with experience in working with SAP S4Hana.

Responsibilities

• Execute core accounting processes related to fixed assets and inventories.
• Perform month-end closing schedules such as Asset Register and Depreciation expense.
• Conduct physical verification of assets and manage compliance with audit requirements.

Skills

Accounting

Financial reporting

SAP S4Hana

Analytical skills

Education

University degree in Accounting, Finance, or related discipline

Job description

The jobholder is responsible to execute core accounting processes and activities related to valuation, verification, quantity assessment, movement and state of fixed assets and inventories of Borouge ADP to ensure efficient and effective administration of these assets while adhering to the controls in line with ADNOC & Share’ policies and IFRS.

The key challenge in performing this role is gather accurate details required by Accounting from Project Managers with regards to asset componentization and their expected useful life at the time of project capitalization.

KEY ACCOUNTABILITIES

Job Specific Accountabilities

Fixed Assets Administration

• Perform accounting activities to ensure accurate and timely accounting and monitoring of company’s fixed assets as well as providing in-depth analytics.
• Record transactions related to additions, transfers and impairment of fixed assets and ensure depreciation and amortization calculations are in line with company’s accounting policies.
• Prepare schedules required for month-end closing such as Asset Register, Asset Movement, Accumulated depreciation, Depreciation expense and CAPEX impairment accrual.
• Prepare FA disclosures for reporting to Consolidation team and external auditors on quarterly basis.
• Provide support to asset custodian to prepare Capital Asset Disposal (CAD) form for those assets which are considered for impairment.
• Follow Delegation of Authority (DOA) to obtain approvals for asset write-off as per Net Book Value (NBV) and book asset retirement in timely manner.
• Prepare monthly Assets Under Construction (AUC) Register for follow-up with Investment Controllers and Project Managers to ensure timely capitalization of capital projects.
• Provide awareness sessions to Project Managers to inform them about the steps to be taken for timely closure of capital projects.
• Conduct physical verification of assets to ensure their availability and determine the condition of fixed assets.
• Provide internal and external audit requirements and ensure adherence to all audit activities and communications to ensure compliance with the approved policies and standards in the company.
• Provide data for yearly asset valuation exercise to Enterprise Risk Management (ERM) team and provide clarifications regarding additions and deletions to consultants.
• Perform year-end Asset Accounting Ledger closing for MEA company codes.
• Continuous review of Borouge PLC Asset Accounting procedure and align with ADNOC Asset Accounting policy.
• Manage FA risks within the ADNOC approved Risk and Control Matrix (RACM) and ensure internal controls are effective through periodical Test of Design (TOD) and Test of Effectiveness (E). Remediate any gaps based on approved remediation plan with strong collaboration with other stakeholders.

Inventory Administration

• Calculate Slow Moving and Obsolete Inventory to ensure proper accounting entries are being made every half-year in co-ordination with Material Management team.
• Prepare the Net Realizable Value (NRV) report for Finished Goods and book provision as required.
• Prepare Inventory balance report for finished goods, raw materials and spare parts on monthly basis.
• Prepare for quarterly and annual audit performed by external auditors, including preparation of Inventory Movement, Inventory Comparisons, Inventory write-off provision and FS notes and schedules.
• Conduct annual stock count for Finished Goods at UAE Gateway and Overseas warehouses in collaboration with various warehouse teams and Logistics Service Providers (LSP).
• Reconcile warehouse stock-in-hand with stock as per balance sheet as of the date of stock count.
• Conduct annual stock count for Spare Parts in collaboration with Material Management team.
• Check randomly the inventory for monomers and raw material along with the external auditors during year-end to ensure the audit needs are fulfilled.
• Manage Inventory Accounting risks within the ADNOC approved Risk and Control Matrix (RACM) and ensure internal controls are effective through periodical Test of Design (TOD) and Test of Effectiveness (TOE). Remediate any gaps based on approved remediation plan with strong collaboration with other stakeholders.

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS

• University degree in Accounting, Finance, or any related discipline
• Fluent in English language; spoken and written

Minimum Experience & Knowledge & Skills

• Minimum 7-10 years of related experience in accounting, preferably in a manufacturing company
• Computer literate with experience in working with SAP S4Hana
• Knowledge of financial practices and statutory requirements