Project Accountant

Company ProfileOur client provides a unique combination of welding and coating services, equipment, technologies and integrated solutions, with an unparalleled reputation for excellence that has been gained over 90 years. Focusing on the global energy industry, both on and offshore operations.
Company Benefits

• 25 days holiday plus bank, time in lieu if any BH are worked increasing with service
• Option to buy up additional leave, deduction from monthly pay
• Life assurance x 4 salary
• Pension is 3% EE with 6% ER or 4% EE and 7% ER
• Early finish, 3pm every other Friday (working missing hours in the 2 weeks leading to the EF)
• Cycle to work scheme
• Increased parental leave benefits
• Benefit Hub

Role PurposeThis Project Accountant is responsible for the overall financial control, accounting and reporting of all commercial projects. The Project Accountant should ensure all projects are accounted for to the contractual commercial terms stipulated and ensure correct project accounting is applied at month end. This role is pivotal in working as a business partner with the commercial project teams with the ultimate goal of ensuring accuracy in project accounting and reporting.This role will have one direct report, the credit controller/analyst. This role will oversee his/her workload and development.

Role Specific Responsibilities

• The Project Accountant is responsible for project set up, maintenance and control of the project module in SAP.
• Responsible for ensuring accurate project accounting across all projects in the region is in place.
• Review revenue, sales accruals, reserves, costs and project margin on a monthly basis in the ERP System.
• Prepare & present out the Day -1 Monthly Revenue flash commentary vs. budget and forecast for the region.
• Prepare & present out the Day 3 Monthly Project Margins results vs. forecast, also include bid margin rate for the region.
• Prepare the Top 20 Projects Report Day 3 for senior management. This includes Periodic, YTD, PTD and Final Forecast analytics. Report to include commentary to explain variances on low/high margin projects.
• Prepare full Project Status report for formal review Day 6, PTD, Trade AR, Retentions, Unbilled, Deferred Revenue, Deferred Cost and project accruals.
• Ensure project module is reconciled to the finance module for projects on a monthly basis, resolving any variances that arise.
• Maintain balance sheet reconciliations and entries related POC accounting on projects (Unbilled/Deferred Revenue and Deferred Cost, Cost Provisions).
• Ensure all appropriate documentation to support project accounting on a monthly basis for audit review.

Desireable Profile

• Thorough understanding of revenue recognition and project accounting (min of 2 years experience).
• Aptitude for analyzing financial data and generating accurate reports in a timely manner
• Attention to detail and proven ability to follow standard procedures is a requirement
• Experience utilizing cost management methodologies, activities, and cost pools based on direct and indirect cost rates
• Strong analytical thinking and a detail-oriented mindset
• Project Accounting & Contracts experience preferred
• Forecasting experience

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Location: Burnley, GB

Posted Date: 9/27/2024