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Contract TypeContract TypeFull-time
Workplace typeWorkplace typeOn-site
LocationLocationRiyadh

About the Role

Esnad Contracting is seeking a dedicated Fixed Asset Accountant to join their team in Riyadh. This role is responsible for managing the complete lifecycle of capital expenditure (CapEx) and lease accounting, ensuring the accuracy and integrity of the Fixed Asset Register. The position plays a crucial part in supporting the company's transition from IFRS for SMEs to full IFRS, aiming to enhance financial control, compliance, audit readiness, and maximize asset value to improve project profitability and cash flow.

Key Responsibilities

  • Manage the full lifecycle of fixed assets, including acquisitions, transfers, disposals, and depreciation.
  • Review project expenditures to determine Capital Expenditure (CapEx) versus Expense in accordance with IAS 16 and IAS 23.
  • Maintain the Fixed Asset Register and ensure its accurate reconciliation with the General Ledger.
  • Perform monthly IFRS depreciation calculations and prepare ZATCA depreciation reconciliations.
  • Manage lease accounting in accordance with IFRS 16, including the accounting for Right-of-Use (ROU) assets, lease liabilities, and associated journal entries.
  • Monitor asset impairment and coordinate valuations when required.
  • Lead periodic physical asset verification across all projects and sites.
  • Support internal and external audits by preparing necessary schedules, reconciliations, and supporting documentation.
  • Drive continuous improvements in Fixed Asset and Lease Accounting processes, including ERP optimization and asset tagging initiatives.

Qualifications and Requirements

  • Bachelor's degree in Accounting or Finance.
  • Minimum of 6 years of relevant experience in Fixed Assets Accounting.
  • Strong knowledge of International Accounting Standards (IAS) 16, IAS 23, IAS 36, and International Financial Reporting Standards (IFRS) 16.
  • Proven experience managing large fixed asset registers, encompassing vehicles, heavy equipment, and construction assets.
  • Hands-on experience with Enterprise Resource Planning (ERP) systems; NetSuite is highly preferred.
  • Advanced Microsoft Excel skills, including proficiency in Power Query, Pivot Tables, and advanced formulas.
  • Professional qualification such as SOCPA, ACCA, or CPA is preferred.
  • Excellent English communication skills.

Required Skills

  • Fixed Asset Register Management
  • Capital Expenditure (CapEx) Accounting
  • Lease Accounting (IFRS 16)
  • IFRS Depreciation
  • ZATCA Depreciation Reconciliation
  • Asset Impairment Monitoring
  • Physical Asset Verification
  • Audit Support
  • ERP Optimization
  • Asset Tagging
  • Knowledge of IAS 16, IAS 23, IAS 36, and IFRS 16
  • Experience with NetSuite
  • Advanced Microsoft Excel (Power Query, Pivot Tables, Advanced Formulas)
  • Strong Communication Skills

Work Environment

This is a full-time position based in Riyadh, Riyadh Region.

Requirements

  • Requires 5-10 Years experience

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