Project management in the East Region; ensuring project revenues and costs are accurately recorded and in line with International Financial Reporting Standards and in accordance with the contract
Ensuring all project information, processes & controls are in line with Group Standard Operating Policies
Ensuring new projects are set up correctly in the systems
Chasing invoice issuance and debt collection
Responsibilities:
Working with project managers and project controls team to ensure accurate reporting of project performance across the UAE and KSA.
Involved in the project set-up on handover from proposals team to ensure reporting structure is agreed, in line with contract terms, company policies and accounting standards. This requires setting up the work order structure in line with task delivery and milestones
Ensure project accounting is in adherence with company policies, accounting standards and regulatory requirements (eg. revenue recognition, staff allocations, overhead rates, loss provisions, accrued and deferred revenue)
Analysis of project results against budgets/forecasts/benchmark providing feedback to management
Identifying all material issues relating to revenue recognition of long-term contracts in accordance with IFRS 15
Ensuring all costs are recognized and accrued in line with group policies
Monitor credit status of clients and ensuring bad debts are recognized
Co-ordinate with project controls to ensure timely and accurate client invoicing
Checking projects are closed out in line with company policy (eg accruals released, bank guarantees returned, final reports issued, collections finalized)
Forecast and planning
Advice to Bid and Project management team on accounting for Projects.
