Project Accountant - Construction

Overview

A. Budget Management and Cost Control

• Develop, monitor, and maintain project budgets and cost forecasts; track project expenses against approved budgets and prepare Budget vs. Actual variance analyses to identify and report cost overruns in a timely manner.
• Review contracts and purchase orders for assigned projects; review and approve project–related expenses and vendor invoices in line with contract terms and company policies.
• Maintain accurate records of all project costs including materials and subcontractors in the ERP system; monitor subcontractor and supplier payments in line with project progress and contractual obligations.
• Track retention amounts, advance payments, and bank guarantees and securities for all assigned projects; ensure all financial commitments and obligations are recorded, monitored, and managed within agreed terms.

B. Billing, Cash Flow and Revenue Management

• Manage project billing and issue client invoices accurately and on time; ensure revenue is recognized in accordance with contract terms and project progress, and collaborate with project teams to align financial data with site progress.
• Track and monitor project cash flow on an ongoing basis; prepare monthly project reports including cash flow statements and project profit and loss accounts to provide management with a clear view of each project’s financial position.
• Reconcile project accounts including receivables and payables; coordinate with Project Managers, Procurement, site teams, and the Head Office Accounts team to ensure financial data is accurate, current, and consistent across all systems.

C. Reporting, Compliance and Period-End Support

• Prepare financial reports for senior management including project profitability analysis and margin analysis; provide clear, data–driven insights to support project–level and portfolio–level decision–making.
• Ensure compliance with UAE VAT regulations, WPS payroll requirements, and applicable construction accounting standards; support month–end and year–end closing activities related to assigned projects.
• Ensure proper documentation is maintained for all project financial transactions to meet audit and compliance requirements; provide well–organized records and reports to internal and external auditors as required.