Overview
Accounting Principal Analyst Jobs in Dhahran, Eastern, Saudi Arabia at aramco digital
Title: Accounting Principal Analyst
Company: aramco digital
Location: Dhahran, Eastern, Saudi Arabia
About the job
The Accounting Principal Analyst is responsible for managing the company’s fixed assets such as IT Assets, office facilities etc. and ensuring accurate accounting and reporting of asset-related transactions. The role will maintain detailed records of asset purchases, transfers and retirements, this role will record the acquisitions, disposals, and depreciation of fixed assets in compliance with accounting standards and company policies. This role is critical in safeguarding ADC’s capital assets and support the financial integrity of IT operations
Responsibilities:
Fixed Asset records: Record the acquisition of IT / other organizational assets such as hardware, software, networking equipment, and technology infrastructure components in accounting records. Capture details including purchase price, acquisition date, vendor information, and asset descriptions. Determine which software expenditures qualify for capitalization as fixed assets in accordance with accounting policies and regulatory requirements. Ensure that capitalization criteria are met and accurately record capitalized software costs. Determine the appropriate treatment for subscription costs, including capitalization and expense recognition.
Asset impairment and reconciliation: Assess the recoverability of IT/ other organizational assets and recognize impairment losses when necessary. Conduct impairment tests in accordance with accounting standards and document the results. Reconcile IT assets as needed to ensure accuracy and completeness of asset records. Assist internal and external auditors during audits by providing documentation, explanations, and reconciliations of IT asset transactions and balances.
Depreciation calculation: Calculate depreciation expenses for IT/ other organizational assets using appropriate depreciation methods (e.g., straight-line, declining balance) and accounting for factors such as useful life, salvage value, and depreciation start date. Estimate the useful lives of fixed assets, considering factors such as technological obsolescence, wear and tear, and expected economic benefits. : Review and update depreciation policies and assumptions periodically to reflect changes in asset usage, technological advancements, regulatory requirements, or accounting standards.
Financial Reporting and Analysis for IT Assets: Prepare financial reports and disclosures related to IT/ other organizational assets for inclusion in financial statements and footnotes. Provide analysis and insights on IT/ other organizational asset balances, depreciation trends, and capital expenditure projects to support financial reporting and decision-making. Collaborate with IT/ other organizational teams such as HR Office Administration teams, procurement departments, and other stakeholders to ensure accurate and timely recording of IT/ other organizational asset transactions, proper documentation of IT/ other organizational asset acquisitions, and alignment of IT/ other organizational asset management practices with organizational goals and objectives.
Minimum qualifications:
Bachelor’s degree in Finance, Accounting, Economics, or a related field is required. Professional certification such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Chartered Accountant (CA) is preferred
At least 5 years of relevant work experience in fixed asset accounting, general accounting, or financial reporting roles with 1 to 2 years of experience with fixed asset management software and familiarity with depreciation methods is beneficial.
