Description:
Company Overview: Magnate Real Estate is a prominent real estate company specializing in selling prime and luxury properties in the UAE. We are seeking a detail-oriented and experienced Real Estate Accountant to join our finance team. The ideal candidate will have a strong background in accounting, financial reporting, and a deep understanding of real estate transactions.
Responsibilities:
Financial Reporting:
- Prepare and analyze monthly, quarterly, and annual financial statements for the company's real estate holdings.
- Ensure financial reports comply with accounting principles and regulatory requirements.
Property Accounting:
- Manage property accounting functions, including tracking property-related transactions, accruals, and reconciliations.
- Oversee lease accounting and maintain accurate records of rental income and expenses.
Budgeting and Forecasting:
- Collaborate with property managers and stakeholders to develop annual budgets for each property.
- Monitor budget variances and provide financial insights to support decision-making.
Tax Compliance:
- Prepare and file property tax returns and ensure compliance with relevant tax regulations.
- Coordinate with external tax consultants to optimize tax strategies for real estate assets.
Cash Flow Management:
- Monitor cash flows related to real estate operations and ensure adequate liquidity.
- Implement effective cash management strategies for real estate projects.
Cost Segregation Analysis:
- Conduct cost segregation analyses to maximize tax benefits and accelerate depreciation on real estate assets.
- Collaborate with external experts as needed for specialized analyses.
Audit Support:
- Facilitate internal and external audits by providing necessary documentation and explanations.
- Ensure audit findings are addressed promptly and appropriately.
- Compliance and Regulations:
- Stay informed about changes in accounting standards, regulations, and industry practices related to real estate accounting.
- Implement and ensure compliance with relevant accounting policies and procedures.
Qualifications:
- Bachelor's degree in Accounting, Finance, or a related field.
- Certified Public Accountant (CPA) designation is highly preferred.
- Minimum of 2 years of experience in real estate accounting is a must.
- Strong knowledge of Generally Accepted Accounting Principles (GAAP) and real estate accounting standards.
- Proficiency in real estate accounting software (e.g., Yardi, MRI) and Microsoft Excel.
- Knowledge in goAML is a must.
- Can join immediately