We are seeking a highly skilled Senior Accountant with solid experience in the real estate industry to manage and oversee all financial operations related to property development, sales, leasing, and agent commission tracking. The ideal candidate will ensure accuracy in financial reporting, compliance with UAE regulations (including VAT), and provide strategic financial insights to support the company's growth.
Key Responsibilities:
Financial Reporting:
Prepare accurate monthly, quarterly, and annual financial statements for real estate projects in compliance with IFRS and UAE GAAP.
Maintain general ledger and ensure all real estate transactions are recorded correctly.
Generate management reports including project profitability, variance analysis, and cash flow statements.
Accounts & Cash Flow Management:
Manage accounts receivable (rent collections, down payments) and accounts payable (contractors, service providers).
Reconcile project bank accounts and ensure escrow account compliance as per UAE real estate regulations.
Monitor cash flow for projects and suggest corrective actions when needed.
Commission Management:
Follow up with developers for commission payments, ensuring timely receipt and proper documentation.
Manage commission records for internal agents, including calculating, tracking, and processing payments accurately.
Coordinate with the sales team to verify deal closures and commission structures.
Reconcile commission receivables and payables, resolving discrepancies promptly.
Budgeting & Forecasting:
Participate in preparing annual budgets for properties and development projects.
Track project costs, compare with budgets, and provide variance reports with analysis.
Forecast future revenues from rental properties and sales pipelines.
Tax & Compliance:
Handle VAT accounting and returns in line with UAE Federal Tax Authority guidelines.
Liaise with auditors and ensure timely completion of internal and external audits.
Ensure compliance with RERA and other applicable financial regulations.
Team & Process Management:
Supervise and guide junior accountants, ensuring tasks are completed accurately and on time.
Review accounting procedures and recommend improvements to enhance financial efficiency and internal controls.
Key Requirements:
Education & Certification:
Bachelor's degree in Accounting, Finance, or related field.
Professional certification such as ACCA, CPA, CMA, or CA is an advantage.
Experience:
4-5 years of accounting experience, with at least 3 years in the real estate sector in the UAE or GCC.
Strong knowledge of property accounting, commission handling, VAT, and real estate project budgeting.
Skills:
Proficiency in accounting systems (e.g., QuickBooks, Tally, Oracle, SAP).