Project Accountant

About The Role

As Project Accountant will manage and oversee financial operations related to specific projects, ensuring compliance with accounting principles and company policies. This role involves preparing financial reports, analyzing project costs, and collaborating with project managers to ensure financial success and integrity throughout the project lifecycle. Project Accountant will be the financial liaison between Operation and Finance/Accounting.

Key Responsibilities

Financial Management:

• Oversee all accounting functions for assigned projects, including budgeting, forecasting, and financial reporting.
• Prepare and review project financial statements, variance reports, and cash flow projections.
• Ensure compliance with financial regulations and standards.

• Manage the controlling and financial reporting of projects in accordance with internal control rules. Coordinate with the Operation team to ensure consistent accounting (margin and revenue milestone recognition) and reporting across the project. Evaluate project planning and suggest corrective action to enhance profitability and ensure revenue recognition in accordance with GAAP ASC 606 

Cost Analysis:

• Analyze project costs and profitability, identifying trends and discrepancies.
• Collaborate with project managers to establish and monitor project budgets and financial performance.

Reporting:

• Generate regular financial reports and present findings to management and stakeholders.
• Assist in the preparation of project financial summaries for audits.

Collaboration:

• Work closely with project teams, providing financial insights to support decision-making.
• Liaise with internal and external stakeholders regarding financial matters related to projects.

Process Improvement:

• Identify opportunities for process improvements and implement best practices in project accounting.
• Assist in the development of accounting policies and procedures related to project management.

Mentorship:

• Mentor and train junior accounting staff, providing guidance and support in project accounting practices.
• Providing training to Operation team members in the following area, but not limited: (Billing Process, PO/PR Requirement, Project Close-out requirements, Change Order, Contract Set-up, Project).

Key Qualifications

• Bachelor’s degree in accounting, Finance
• 5 years of experience in project accounting or related field, with a proven track record in managing project finances.
• Strong analytical and problem-solving skills.
• Proficiency in accounting software and Microsoft Excel.
• Excellent communication and interpersonal skills.
• Ability to work independently and manage multiple priorities.
• Proficient in accounting software systems (Sage 300, HCSS - Heavy Construction Software System)
• Understanding of percentage-of-completion accounting, work-in-progress, billings-in-excess, costs-in-excess, cost accounting/job costing and contract billing. Experience with all contract vehicle types (i.e. FFP, T&M and Cost ), “outside the box” thinker who identifies problems and develops creative solutions.