Career Center

The Company

Ooredoo is an organization on the move. Thanks to our dedicated employees, we continue to move closer towards our vision to be among the top 20 telecommunications companies in the world by 2020.

The Role

Responsible to manage all aspects of Fixed Asset Accounting in the Company’s Oracle Fixed Asset module: Placing new assets into service; preparing monthly depreciation, additional, disposal, impairment and transfer journal entries; accounting for gain/loss on disposal of assets; tracking invoices associated with each asset placed into service; monitoring CIP projects to ensure accurate and timely in-service placement; Also manages Construction/Work in Progress (W/CIP) projects for completion and ensures accurate and timely in-service placement, maintains CIP account detail and aging of balances and reviews progress of CIP against capital budget.

Key Accountabilities & Responsibilities

• Manage and maintain an Oracle Fixed Asset module

• Place new assets into service

• Prepare monthly depreciation, addition, disposal, impairment and transfer journal entries

• Account for gain/loss on disposal of assets

• Monitor Construction in Progress (CIP) projects for completion and ensure accurate and timely in-service placement

• Maintain CIP account detail and monitor aging of CIP balances

• Review progress of actual CIP against capital budget to identify potential overruns and identify project completion

• Monthly closing of Fixed Asset Module

• Prepare monthly account reconciliations and fixed asset roll forward

• Assist Auditors with preparation of fixed asset details, including communication of all activity within the fixed asset module

• Assist with annual fixed asset impairment testing as needed

• Ad hoc analysis and project preparation as needed

• Assist with process improvements throughout the fixed asset cycle

• Critical contributor to the month end closing process.

• Accurate accounting of fixed assets with proper location / cost centers and making sure that the calculations are done in time.

• Preparation of the list of network equipment to be insured every month and forward to the Administration department after approval.

• Creation of item codes in the Inventory Module for the new items along with updating needed information as part of the Item creation process

• Reconciliation of FA register, WPO and WMO amounts with the General Ledger module and take necessary action for resolving variances (if any)

• Reconciliation of General Ledger value of work in progress with the project costing module details and take necessary action for resolving variances (if any)

• Be part of the ERP upgrade and system implementations

• Retiring the assets in OAT module (oracle asset tracking) after due validation of the assets

• Reconciliation of EAM module with the GL for the expenses

• Defining the projects and other details on the Project costing module including the link to budget lines, Opex and Capex categorization.

• Preparation of budget reports summarizing the carry over, approved budget, committed,spent and available

• Track the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed.

• Calculate asset retirement obligations for those fixed assets to which AROs (asset retirement obligations) are applicable.

• Establish detailed implementation plan on the Swap and carry out the swap accounting. Ensure necessary audit clearances and documents in place with coordination with GL team.

• Ensure compliance with the Fixed Assets and Insurance Policies and Procedures

• Preparation of annual fixed assets verification plan and submit for review and approval by the Manager.

• Communicating the physical verification plan to the departments and persons in charge

• Carry out the physical verification activities as per the plan and summarize the variances for reporting to the concerned department managers for taking the necessary actions

• Track all the fixed assets by tagging an asset numbers

• Provide support in relocation of assets and dismantle of sites to concerned departments

• Supervise the outsource staff in handling the physical verification of assets process

• Monthly Fixed Asset Schedule

• Monthly Insurance Claims report

• Monthly project in progress report

• Monthly update on the fixed assets verification results

• Monthly Open Commitment report (Opex & Capex)

• Monthly Capex Budget and Spent analysis report (summary & detail)

• Provide analysis and summaries of information as directed to ensure key issues are brought to the attention of the Direct Managers.

• To verify the accuracy of information / data processed, identify issue and take corrective action to resolve problems.

• Generate daily, weekly, monthly and quarterly reports.

• Monthly- Quarterly Trend report for actual capex Vs Budget.

• Control and review the Inventory- related to fixed assets .

• Update the item master for inventory technology module.

• Update the assets location and and add-remove new location to fixed assets module and Oracle assets tracking Module.

• Recommend to management any updates to accounting policies related to fixed assets.

• Investigate the potential obsolescence of fixed assets.

• Conduct periodic impairment reviews for intangible assets.

  • Track company expenditures for fixed assets in comparison to the capital budget and management authorizations.

• Ensure proper integration is in place between different oracle asset related modules (Project costing, Oracle asset tracking, Enterprise asset management, fixes asset register, inventory module etc.)

• Ensure the interfaces are cleared on a monthly basis and highlight any issues to the GL team

• Close the internal audit observation as per the agreed due dates

• Update the Policies and procedures manuals based on the changes in systems, process, authorities etc.

• Conduct analyses related to fixed assets as requested by management.

• Resolve issues in order to adhere to Service Level Agreements

• Ensure activities are planned and carried out within the scope of well-defined policies and procedures and in strict accordance with Ooredoo policies.

• Coordinating with the insurance company on the claims process and interacting with the user departmentsPreparation and submission of the monthly insurance Memo to insurance company for the updated insurance coverage for PAR policy

• Participate in the RFP process for renewal of the PAR policy

• Perform other duties as directed by Direct Managers.

Qualifications

• Graduate degree in Accounting with registration from a recognized professional institution or University

• 3-4 required years of experience based on progression ladder, accounting experience.

• 2+ years of relevant telecom experience

Job specific technical Skills

• Computer literate with an analytical and enquiring approach

• Good interpersonal communication skills

• Good knowledge of MS Office application, sound knowledge of the ERP systems.

• Good command of both written and verbal English, Arabic would be an advantage