OQ
Principal Financial Accounting
- Permanent
- Muscat, Oman
- Experience 10 - 15 yrs
Report job as expired
Job expiry date: 25/06/2025
Job overview
Date posted
12/05/2025
Location
Muscat, Oman
Experience
10 - 15 yrs
Seniority
Senior Manager
Qualification
Bachelors degree
Expiration date
25/06/2025
Job description
Under the direction of the Head of Financial Accounting, the Principal Financial Accounting role is responsible for executing complex, professional-level accounting work. This includes managing financial consolidations, handling non-standard transactions, and ensuring IFRS compliance across multiple entities. The role supports consolidated financial reporting, resolves complex technical accounting issues, and contributes to policy updates and system improvements. It operates with a high degree of technical judgment and independence within a multi-entity environment, ensuring accuracy, compliance, and alignment with strategic goals. The role also includes supporting audits, collaborating across departments, and leading enhancements in financial systems and reporting processes.
Required skills
IFRS
US GAAP
local GAAP
group financial consolidation
SAP
SAP BPC
financial reporting
external audit compliance
accounting policy development
impairment assessment
WACC calculation
management discussion and analysis
derivative accounting
fair value assessment
investment property accounting
intangible asset accounting
forex journals
complex transaction accounting
regulatory reporting
financial systems enhancement
Key responsibilities
- Support the preparation of consolidated financial statements in accordance with IFRS, ensuring accuracy and completeness across multi-entity structures.
- Run the IFRS disclosure checklist on Group consolidated financial statements to ensure full compliance with IFRS and robust, high-quality disclosures.
- Design the Management Discussion and Analysis (MD&A) as part of the financial reporting package, ensuring it reflects key business drivers, risks, and financial results.
- Assist in the execution and accounting of complex transactions such as asset impairments, fair value assessments, corporate restructurings, and divestments.
- Advise on complex accounting matters such as IFRIC-12, IFRS-16, IFRS-9, Derivative Accounting etc. within the Group.
- Review and interpret financial regulations, IFRS standards, and internal policies to ensure correct accounting treatments and disclosures.
- Perform technical analysis and prepare accounting memos for non-standard transactions, including goodwill, intangible assets, forex, and investment properties.
- Contribute to the design and execution of group-wide accounting close and consolidation processes, including monthly, quarterly, and annual reporting cycles.
- Ensure compliance with internal governance and external audit requirements, supporting timely resolution of audit queries.
- Coordinate with Treasury, Strategy, Legal, and other Finance functions to ensure integrated treatment of financial reporting and accounting matters.
- Assists in training staff in the application of new or amended accounting standards.
- Maintain oversight of general ledger integrity, ensuring accounting entries reflect underlying economic events and comply with policy and control frameworks.
- Support the enhancement of financial reporting systems and tools, including SAP-BPC, to streamline consolidation and reporting processes.
- Lead the update and revision of the Group Accounting Policy Manual in response to new and amended IFRS standards.
- Perform and document WACC (Weighted Average Cost of Capital) calculations for all key assets within the Group.
- Review the financial statements of Group subsidiaries and provide feedback to ensure consistency with Group accounting policies and IFRS compliance.
- Accounting for asset impairments & impairment reversals, including review of impairment models, preparing impairment handbooks.
- Accounting for acquisitions and divestments.
- Accounting for Common Control Transactions within the Group.
- Accounting for general intangible assets, in particular Goodwill.
- Accounting for fair value and other revaluations.
- Forex Journals.
- Property Investments.
Experience & skills
- Minimum of 10ā12 years of relevant experience.
- Experience in Non-Standard Accounting.
- Oil and Gas / Energy industry experience essential (including Upstream and Downstream exposure).
- Deep working understanding of financial reporting and analysis.
- Expertise in implementing and managing financial accounting processes across global entities.
- Compliance with IFRS, US GAAP, and local GAAP.
- Robust internal controls and governance frameworks.
- Extensive experience in group-level financial consolidations.
- Proficiency in external reporting, statutory financial statements, and regulatory disclosures.
- Skilled in leveraging tools like BPC and SAP for accurate and efficient reporting.
- Successfully led financial reporting and consolidations.
- Experience in guiding teams through mergers, acquisitions, and divestitures.
- Strong understanding of IFRS, US GAAP, local GAAP, and SEC reporting requirements.
- Certified Public Accountant (CPA), Chartered Accountant (CA), ACCA, CTA, or CTP required.
- Advanced skills in SAP, BPC, and financial reporting tools.
- Deep understanding of tax and legal documentation, statutory reporting, and compliance.
- Ability to assess and mitigate financial and compliance risks.
