Chief Accountant in Riyadh

Job Title: Chief Accountant

Job Summary

The Chief Accountant is responsible for managing and overseeing all accounting activities of the heavy equipment rental business. This role ensures accurate financial reporting, strong control over high-value assets, compliance with regulatory requirements, and provides financial insights to support fleet utilization, profitability, and capital investment decisions.

Key Responsibilities

Financial Accounting & Reporting

• Oversee full-cycle accounting including GL, AR, AP, payroll, and fixed assets

• Prepare monthly, quarterly, and annual financial statements

• Ensure accurate revenue recognition for short-term and long-term equipment rental contracts

• Manage accounting for advance payments, retention, and security deposits

Fleet Asset & Depreciation Management

• Maintain detailed fixed asset registers for heavy equipment fleet

• Manage capitalization, depreciation, impairment, revaluation, and disposal of equipment

• Ensure accurate tracking of mobilization/demobilization costs

• Reconcile fleet utilization, idle time, and financial depreciation

• Support equipment lifecycle cost and return-on-asset analysis

Cost Control & Job Costing

• Analyze profitability by equipment type, project, and customer

Compliance, Tax & Controls

• Ensure compliance with IFRS/GAAP, tax laws, and statutory requirements

• Oversee VAT/GST treatment on rental income and services

• Coordinate internal and external audits

• Establish and maintain strong internal controls and accounting policies

Budgeting, Forecasting & Cash Flow

• Lead annual budgeting and periodic forecasting

• Monitor cash flow, collections

• Support capital expenditure planning for fleet expansion and replacement

Leadership & Systems

• Lead and develop the accounting team

• Work closely with operations, fleet, maintenance, and commercial teams

• Oversee ERP and rental management system integrations

Qualifications & Experience

• Bachelor’s degree in Accounting or Finance (Master’s preferred)

• Professional certification (CPA, ACCA, CA, or equivalent)

• 8–12+ years of experience in accounting, preferably in heavy equipment rental, construction

• Strong expertise in fixed asset accounting and revenue recognition

• Experience with ERP systems and fleet/rental software

Skills & Competencies

• Strong analytical and problem-solving skills

• High attention to detail and accuracy

• Strong leadership and stakeholder management

• Ability to work in a fast-paced, project-driven environment

• Commercial mindset with strong cost-control focus

Reporting To

• Group Finance Manager