United Arab Emirates Job Openings
TUSMO REAL ESTATE
Senior Accountant
Dubai
FULL TIME
November 7, 2024
Job Title: Senior Accountant – Real Estate
Location: [Dubai, United Arab Emirates]
Department: Accounting/Finance
Position Summary:
We are seeking an experienced and detail-oriented Senior Accountant to join our growing real estate firm. This individual will manage all aspects of accounting related to real estate property transactions, including financial reporting, property management accounting, budgeting, and ensuring compliance with real estate regulations. The Senior Accountant will play a key role in the timely and accurate financial reporting of real estate holdings and will assist in the preparation of key financial documents for owners, investors, and other stakeholders.
Key Responsibilities:
Pay: AED5,000.00 per month
Experience:
Location: [Dubai, United Arab Emirates]
Department: Accounting/Finance
Position Summary:
We are seeking an experienced and detail-oriented Senior Accountant to join our growing real estate firm. This individual will manage all aspects of accounting related to real estate property transactions, including financial reporting, property management accounting, budgeting, and ensuring compliance with real estate regulations. The Senior Accountant will play a key role in the timely and accurate financial reporting of real estate holdings and will assist in the preparation of key financial documents for owners, investors, and other stakeholders.
Key Responsibilities:
- Property Accounting: Oversee the accounting for real estate properties, including multi-family, commercial, and/or residential portfolios. Maintain the general ledger for properties, ensuring proper booking of rent revenue, operating expenses, and capital expenditures.
- Financial Reporting: Prepare and review monthly, quarterly, and annual financial statements for real estate properties, including income statements, balance sheets, and cash flow statements. Ensure reports are accurate, timely, and in accordance with GAAP and real estate industry standards.
- Real Estate Transactions: Manage accounting for real estate acquisitions, dispositions, and financing transactions. Ensure proper treatment of transaction costs, property valuations, and integration into the general ledger.
- Budgeting & Forecasting: Work closely with the property management team to prepare and manage property-level budgets and forecasts. Provide variance analysis and financial insights to help optimize property performance.
- Lease Administration: Review and track lease agreements, ensuring proper accounting for lease revenue and expenses, including lease escalations, tenant reimbursements, and leasehold improvements.
- Property Management Accounting: Oversee accounts payable/receivable for real estate properties, ensuring timely and accurate processing of invoices, tenant billings, and vendor payments.
- CAM (Common Area Maintenance) Reconciliations: Review and reconcile CAM charges and escalations for multi-tenant properties, ensuring that all tenants are billed appropriately and that all expenses are properly accounted for.
- Investor Reporting: Assist in the preparation of investor reports, including performance summaries, cash flow reports, and distribution schedules. Maintain investor records and ensure compliance with investor agreements.
- Internal Controls & Compliance: Ensure compliance with accounting standards, regulatory requirements, and internal controls. Assist in preparing for audits, working closely with external auditors to ensure timely completion.
- Tax Compliance: Assist in the preparation of real estate-related tax filings, including property taxes, sales tax, and income tax filings. Ensure that tax compliance is met for both federal and state requirements.
- Team Collaboration: Collaborate with property management teams, operations, and senior leadership to provide financial insights and recommendations to optimize property performance.
- Special Projects: Participate in strategic projects related to real estate investments, such as financial modeling for acquisitions, development, or refinancing projects. Assist in system improvements and process automation initiatives.
- Education: Bachelor’s degree in Accounting, Finance, or related field. CPA or CMA preferred.
- Experience: 5+ years of accounting experience, with at least 2 years in real estate accounting or property management accounting. Experience with commercial and/or residential real estate portfolios is strongly preferred.
- Technical Skills:
- Proficiency with accounting software such as Yardi, MRI, Real Page, or similar real estate management systems.
- Strong knowledge of Microsoft Excel (advanced formulas, pivot tables, financial modeling).
- Understanding of real estate accounting principles, including revenue recognition, lease accounting (ASC 842), and capital improvement accounting.
- Familiarity with real estate tax codes and regulations (property taxes, 1031 exchanges, etc.).
- Analytical Skills: Strong analytical and problem-solving abilities, with attention to detail and accuracy.
- Communication Skills: Excellent verbal and written communication skills. Ability to communicate complex financial data to non-financial stakeholders, including property managers, executives, and investors.
- Leadership Skills: Ability to manage and mentor junior accounting staff. Work collaboratively with cross-functional teams and provide guidance to the accounting team.
- Project Management: Strong organizational skills with the ability to manage multiple tasks and meet deadlines in a fast-paced environment.
- Experience with real estate investment trust (REIT) accounting or large multi-property portfolios.
- Knowledge of fair value accounting, purchase price allocations, and complex investment structures.
- Familiarity with software such as Quick Books, Sage, or other general ledger systems specific to real estate.
- Collaborative and dynamic environment, with a focus on teamwork and continuous improvement.
- Occasional travel may be required for site visits or investor meetings.
Pay: AED5,000.00 per month
Experience:
- Accounting in Dubai: 3 years (Required)
- Real estate accounting in Dubai: 1 year (Required)
We regret to inform you that this job opportunity is no longer available as it has expired
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