Senior Accountant

RIYMAR Real Estate Company; Riyadh; On-site; SAR 150,000 - 200,000; Full time

Job summary

A leading real estate firm is seeking a Senior Accountant to manage financial activities related to their development projects. This position will oversee project accounting processes, ensure compliance with IFRS, and prepare financial statements and reports. The ideal candidate will have at least 6 years of accounting experience, including 3 in project accounting, and a strong understanding of cost control and budgeting. This role is crucial for accurate financial reporting and project cost monitoring in a dynamic work environment.

Qualifications

• Minimum 6 years of accounting experience, with at least 3 years in project accounting.
• Experience in real estate, construction, or project-based environments.
• Strong understanding of project accounting, cost control, and IFRS.

Responsibilities

• Oversee project accounting processes including cost allocation and WIP management.
• Monitor project cash flow and ensure timely revenue recognition.
• Prepare and update project budgets and forecasts.

Skills

Project accounting

Cost control

Compliance with IFRS

Financial reporting

Budgeting

Education

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

Job description

We are seeking an Senior Accountant to manage and oversee all accounting and financial activities related to the company’s real estate and development projects.

The role plays a critical part in ensuring accurate project cost tracking, revenue recognition, budgeting, and financial reporting, while maintaining compliance with IFRS (including IFRS 15) and internal financial controls. Reporting to the Accounting Manager, this role works closely with project teams, procurement, and finance functions to support informed project and management decision-making.

Key Responsibilities

• Oversee end-to-end project accounting processes, including cost allocation, WIP management, and project asset capitalization.
• Maintain accurate project ledgers and ensure correct classification of expenditures (materials, contractors, consultants, manpower, and overheads).
• Review and validate project-related invoices, progress certificates, retention, and milestone payments.
• Monitor project cash flow, commitments, and actual costs versus approved budgets.
• Ensure accurate and timely revenue recognition in line with IFRS 15 and applicable real estate accounting standards.
• Prepare project financial statements and project-specific management reports.
• Closely monitor payments to contractors and vendors, ensuring compliance with contractual terms.

Project Cost Monitoring

• Track project cost performance and identify variances between budget, forecast, and actual expenditure.
• Prepare monthly project cost reports, dashboards, and variance analyses for project managers and senior management.
• Support project managers in preparing budgets and cost-to-complete forecasts.
• Prepare and update project budgets and forecasts in alignment with approved plans.
• Maintain and monitor the commitments register (POs, contracts, subcontracts, and variations).

Project Governance & Compliance

• Ensure project spending complies with Delegation of Authority (DOA) and internal financial controls.
• Support financial controls over procurement, contract management, and subcontractor billing.
• Coordinate with Internal Audit to address project-related financial risks.
• Prepare documentation required by external auditors for project assets, revenue, and cost validation.

General Accounting (Project-Linked)

• Support month-end and year-end closing activities related to project accounting.
• Reconcile project accounts, intercompany charges, and project-related balance sheet accounts.
• Assist in VAT, Zakat, and tax reporting related to project costs and revenues.

Qualifications & Experience

• Bachelor’s degree in Accounting, Finance, or related field.
• Minimum 6 years of accounting experience, including at least 3 years in project accounting.
• Experience in real estate, construction, or project-based environments.
• Strong understanding of project accounting, cost control, and IFRS.