Manager - assets & Inventory Control

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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

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