Project Accounting

Job description

Description

The Project Accountant is responsible for the accurate reporting of all accounting aspects of projects in the Market Units across the Americas. As part of the main responsibilities are the control and maintenance of all project data in the Projects Module in Oracle ERP. Also this accountant is responsible for monthly reconciliations for WIP, Costs, AR Cost Earnings, Deferred Revenue and Progress Billing, as well as updating the project budgets in the system based on the specific project deliverables. He/She will maintain very close ties to Project Managers to aide in project execution and margin analysis to assure proper accounting per CP&Ps while controlling invoicing and revenue recognition of the project.

Responsibilities
• 1) Control Project Accounting through the month:

a) Deferred Revenue Control

b) Progress Billing Reconciliation

c) Revenue Recognition Control and Requirements consolidation

d) WIP Reconciliation

2) Project Accounting and Deliverable Checklist preparation

a) For each project – analyze contract to determine key deliverables and accounting management

b) Prepare the checklist for each project with Fair Value Market Analysis for cases of multiple deliverable revenue recognition

c) Track deliverable of the project per original checklist analysis

3) Margin Analysis

a) Review Price and Costs for each project to determine the project Margin and direct for appropriate approval

b) Constant Update of Revenue and Cost Budgets

4) Project Invoicing and Recognition

a) Control progress billing to make sure all accounting adjustments for Revenue are accurate

b) Set Project Invoicing when all requirements have been met

c) Track proper accounting for orders

5) Review project expenditure

a) Review all spends to projects and analyze versus the expected costing structure to make sure proper accounting is in place

6) Project Closure

a) Close Project in the Oracle ERP after all required revenues and costs have been accounted

b) Close Project when final billing has been completed

c) Review Close Margin and prepare final project analysis and reconciliations

7) Audit Compliance Support
Support all audit requirements pertaining to revenue recognition and Projects Accounting

Desired profile

Requirements

EDUCATION

Required: 4 year degree in Accounting, or Business Management (CPA Preferred)

EXPERIENCE

2-4 years in Project Accounting, Revenue Accounting, Cost Accounting or General Accounting

1-2 Years experience in Planning or project forecasting
1 year Oracle Platform Experience (projects preferred)

ü Critical Thinking, using logic and reasoning to identify alternative solutions to day to day problems

ü Has a strong knowledge of a complete project accounting (Revenue/Cost)

ü Ability to take responsibility and deliver quick and accurate results with a strong commitment to excellence.

ü Strong communication and interpersonal skills.

ü Very Strong Financial Analysis skills

ü Fluency in English at business level (verbal and written)

ü Proven proficiency in use of HFM/Hyperion and Oracle e-Business Suite

ü Proven proficiency in use of MS Office Software – Word, Excel (Advanced Level), PowerPoint

ü Good analytical and problem solving skills and keen attention to detail

ü Must be willing to work after hours as required to meet objectives during financial close periods
Highly organized, detail oriented, committed to deliver results, meeting multiple deadlines, and able to work under pressure