Accounting Manager (Construction)

Job PurposeThe Accounting & Finance Manager will oversee all financial, accounting, and cash flow operations of the company.

This role is responsible for ensuring accurate project job costing, managing multi-project cash flows, overseeing tax and regulatory compliance, and providing strategic financial insights to senior management.

The ideal candidate will have extensive experience navigating the financial complexities unique to the construction industry, including long-term contract accounting and equipment financing.

Key Responsibilities

1.

Project Accounting & Job Costing (Construction Specific)Percentage of Completion (POC): Manage and implement revenue recognition under IFRS 15 / ASC 606 (Revenue from Contracts with Customers) using the Percentage of Completion method based on engineering milestones and site progress.Job Costing Analysis: Establish and monitor budgets for individual foundation/piling projects.

Analyze variances between actual project costs (labor, materials, machinery, subcontractors) and estimated tender costs.Work-in-Progress (WIP): Review and update monthly WIP sheets to ensure accurate forecasting of project profitability, over-billings, and under-billings.Subcontractor & Supplier Management: Oversee the verification of subcontractor payment applications, retention amounts, variations (change orders), and material supplier invoices.

2.

Cash Flow & Working Capital ManagementCash Flow Forecasting: Develop and maintain rolling cash flow forecasts for multiple active construction sites to ensure adequate liquidity for payroll, material procurement, and equipment maintenance.Receivables & Collections: Partner with Project Managers to monitor client billings, track certified payment certificates, and aggressively manage aging receivables to minimize uncertified revenue.Facilities & Banking: Manage relationships with banks regarding Letters of Credit (LCs), Bank Guarantees (Performance Bonds, Tender Bonds), and project-specific financing lines.

3.

General Accounting & Financial ReportingFinancial Statements: Supervise the closing of monthly, quarterly, and annual accounts.

Prepare comprehensive financial statements in compliance with local accounting standards.Fixed Asset Management: Oversee the accounting, depreciation, and ROI analysis of high-value heavy machinery (e.g., piling rigs, cranes, excavators).Audit & Tax Compliance: Lead coordination with external auditors.

Ensure timely filing of corporate taxes, VAT, WHT, and social insurance specific to construction labor forces.

4.

Team Leadership & Internal ControlsTeam Management: Supervise and mentor the accounting team (including site accountants, payables/receivables clerks, and cost controllers).ERP Optimization: Maximize the utilization of the company's ERP system (e.g., SAP, Oracle, Microsoft Dynamics, or construction-specific software) to automate job costing and reporting.

Job Requirements & QualificationsEducation: Bachelor’s Degree in Accounting, Finance, or Business Administration. A Master’s degree or professional certification (CPA, CMA, or ACCA) is highly preferred.Experience:Minimum of 7–10 years of progressive experience in accounting and finance.At least 3–5 years in a managerial role specifically within a Construction, Contracting, or Foundations/Piling company.Technical Skills:Deep knowledge of construction accounting principles (POC, WIP, Retentions, Joint Ventures).Advanced proficiency in MS Excel (financial modeling, macros, VLOOKUPs, Pivot Tables) and construction ERP systems.Strong familiarity with banking instruments (Letters of Credit, Project Financing, LGs).Soft Skills: High level of integrity, analytical mindset, excellent negotiation skills, and the resilience to handle tight project deadlines and cash flow pressures.