Officer - Reporting (Assets Capitalization)

Job description / Role

Job Purpose:
• Conduct detailed cost analysis to estimate assets value.
• Prepare assets capitalization report as per the stakeholders' requirements
• Gather, review and analyze BOQ, Variation orders, Engineer Instructions for Contractors/Consultants Instruction to proceed and claims of each package
• Identify the property to which the BOQ’s, VO’s & EI’s/CIP’s are related and charge the related cost, segregate the cost to the respective components as per the asset capitalization template
• Reconcile and match the estimated final cost with the amount recorded in General ledger for each package
• Allocation of direct, common and incidental costs to the assets and documenting the cost allocation basis and assumptions to provide an audit trail
• Identify costs related to project construction in the general ledger that are not reflected in the Cost Consultant’s package report such as project team/consultant’s travel cost, utility charges, technical service fees paid to Hotels’ operators etc. and to be able to justify the allocation method for these expenses and do the allocation to assets accordingly.
• Allocation of borrowing cost and payroll capitalization to the assets
• Research on useful life of each component of specialized assets such as Automated Waste Collection System, Gas Plant etc.
• Update the changes in estimated final cost based on the updated Typology submitted by the Executive Cost Consultant
• Final Account reconciliation of all packages in the below format:
• Final cost incurred vs. cost assigned to assets in the capitalization report
• Highlight and propose the treatment for the reconciling items above
• Prepare and upload in ERP the details of capitalized assets in component level based on the asset capitalization report

Requirements

Minimum Qualifications:
• Engineering qualification with QS background or accounting background with experience in capitalization of big scale project
• 5 - 7 years of experience in Asset capitalization analysis and reporting in large real estate projects
• Experience in complex asset capitalization costing and reporting in real estate industry
• Knowledge of and ability to apply international accounting standards and ERP systems
• Vigilance and attention to detail with strong time management capabilities
• Strong analytical skills

About the Company

Orion Engineering was established in 1987 to supply Engineering personnel to the Oil and Gas Industry. Since then the company has grown significantly and presently has in excess of 4000+ personnel on secondment worldwide.

Our blue chip client list includes major oil companies such as Shell, BP, Chevron Texaco and Exxon Mobil and major engineering contractors and suppliers such as Technip, Wood Group. Talisman and Wormald Tyco.

The division has offices at various strategic locations throughout the world including London, Houston, Aberdeen, Lagos, Doha, Singapore and 5 offices throughout Kazakhstan.