ITT Corporation Cost Accountant in Dammam, Saudi Arabia

Req ID # 4840BR

Position Title Cost Accountant

Country Saudi Arabia

Work Location Dammam

Company ITT EMEA

Job Description The day to day bookkeeping functions of the operations, including the preparation of local statutory accounts.

Maintenance of a clean set of balance sheet supporting records (called the ownership book), detailing every item on the Balance Sheets. The ownership book is to be updated on a monthly basis.

Reconciliation of all bank accounts and inter-company accounts every month end and to initiate the adjusting entries where appropriate

Timely submission of all monthly financial reports as well as ad-hoc reports required by corporate headquarters, or as directed.

Inventory and Work In Progress. He is to ensure that the cost build-up of on-going jobs is reviewed regularly and to highlight to the General Manager any potential overrun of job costs against the budgeted estimates.

Organizing and overseeing fixed assets physical verifications and well as the custody of inventory

Preparation of the annual strategic plans and budget as well and regular updates of forecasts and cash flows or any other reports besides the monthly Balance Sheet and Profit and Loss statements, or as directed.

Credit approval and control and debt collection, ensuring that Bad Debt reserves are made in accordance with ITT policy.

Will be responsible for the documenting, updating and maintenance of hard and soft copies of all financial control narratives, flowcharts and Sarbanes Oxley Act (SOA) Control templates, including the uploading of most up to date SOA documentation onto the ITT Intranet.

Verification of the supplier invoices and other invoices with the PO and GRN

Maintenance of due dates for supplier and service providers invoices and issuance of the payment to them on timely basis.

Maintenance of statistical report showing the monthly payment details for all the recurring payments like telephone, rent etc.

Preparation of MIS reports

Close follow-up on Accounts Receivables and ensure that past due A/R is<10%

Preparation and submission or various statutory reports as per the requirement.

Preparation of Payroll and assist in HR related activities

Provide IT related support – configuration of mail, laptop etc.

Skills and Experience Education:

Bachelors degree (or equivalent) in Finance & Accounting or Economics. An advanced degree preferred.


Minimum 2 years experience in finance/cost accounting

Other Skills/Knowledge/Experience:

Knowledge of Hyperion, ERPLx, etc. is a plus.

The incumbent must have a good command of English language. A second language (Arabic) would be a plus.

Excellent skills in financial analysis, analytical experience, problem solving.

Strong organizational skills.

PC skills including spreadsheet, presentation software and word processing are a must.

Capable of meeting strict Deadlines

This position requires visibility to controlled documents.

Minimum Education Requirements BS/BA Degree or Equivalent

Percent of Travel Required Less than 25%

Paid Relocation Available? No