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Project Accountant

Company: Wood
Location: Austin
Posted on: September 18, 2019

Job Description:

Salary/Rate N/A Permanent Location US-TX-Austin, United States Posted By Wood. Date Posted 28 minutes ago Expires 02 Oct 2019 Qualifications None Project Accountant in US-TX-Austin, United States US-TX-Austin, United States - N/A - Permanent Wood is currently recruiting for a Project Accountant with experience in the oil and gas petrochemical industry. The role is primarily responsible for Accounting for projects which will include lump sum contracts and reimbursable contracts of both long term contracts and short term contracts. Main focus is to conform with accounting principles and business processes. This key role: - Works closely with Project Managers, Billing Specialist and the Project Finance Managers to obtain produce individual project financials, project analysis and obtain project forecasts. - Works effectively across the project allocation to ensure that robust project accounting takes place. - will be able to run all required project control and finance systems and tools to enable the successful management and reporting of the project costs in the business. Skills / Qualifications Project Responsibilities - Understand the financial information contained within the commercial agreements, agreed rates and approvals. - Provide project accounting assistance at kick off meetings and monthly project review meetings - Ensure each project is set up to capture the structure correctly i.e. in Lump sum contracts, Revenue recognition points, Billing milestones - Review Project costs in the month and make necessary accruals for missing costs - Review Variation Orders (VOs) and potential VOs confirming the accounting with regards to their status & probability of them being awarded by the client. - Ensure we are meeting the conditions for revenue recognition and billing milestones and ensuring we are accounting for the Revenue milestones vs cash milestones appropriately - Account for the Impact of FX on each of the projects. For all non-functional currency projects on understanding what is the cost to the business and improve our hedging activities - Maintain visibility over all costs incurred; pass through costs, and, passing them through timely. - Maintain Visibility over amounts Unbilled and work with Billing specialists to get invoices out timely. - Accounting for costs that have not yet been received on the project (maintaining margins) in accordance with the project CTR / Activities - Margin analysis, Cost rate vs Sell rate explaining Mix and volume variance - Accounting from a full project forecast to the end of the job compared to AS sold - Contingency analysis Understanding what we have to work with in the project and accounting for contingency when releases or increases are due. - Liaise with the Clean Energy business to develop a structure for project reporting requirements to ensure timely and accurate internal reporting. - Provide ad-hoc support and share knowledge in job set up in Oracle. - Study and understand all relevant documents pertaining to the preparation of job set up as a quality control to ensure governance in commercial, cost and contractual review. - Provide ad-hoc support to the project allocations management in Clean Energy. - Responsibility for the Project Controls Mailbox and managing the business requests that come through with support from the team where required. - Monitor and control cost commitments and expenditures through live projects. - Support in the delivery of Operations Engagement sessions and the development of the Project Controls Implementation Strategy for Clean Energy. - Attend Project Reviews as necessary to provide project control support as required. - Management of Project Variations. - Regular communication/review with Service Lines to ensure integrity in budgets and expenditure. - Highlight any unusual activity in projects and highlight to Project Managers. - Provide ad-hoc data migration support to Clean Energy offices. - Become an experienced user of OBIE reporting tool to hold review sessions with project management and champion its use across the business. - Understand Azolve and coding process to allow expediting of approvals. - Involve closely with lump sum and intercompany project cost reporting opportunities as they develop in line with expanding project control service offering in Clean Energy. - Produce and issue weekly end date reports to the Clean Energy business. - Liaise with Timewriting Central as required to ensure accurate and timely capture of costs and ensure costs are allocated accurately in accordance with approved project task structure. - Produce weekly and monthly project cost and status reports as they become established within the business as a requirement for internal control and client reporting. - Act as the Project Close-out Champion for Clean Energy, embedding the developed processes into Clean Energy business. - Assist with the preparation of proposal CTR documents, particularly for lump sum and strategic tenders where applicable. - Have a basic understanding of how Project Controls is applied across STS in relation to project planning, risk analysis, scheduling and change control. Reporting Responsibilities - Project reporting On all large projects, we should include within the financial & progress reporting pack - Provide variance analysis showing As Sold/Original P/L verses Actual / Current P/L - Maintaining Cash Flow implications on the wider business, especially on large projects - Maintaining clear visibility of the project balance sheet - Reconciliation and financial management of Work in progress & unbilled / Accrued Sales, - Reconcile the Job cost ledger to the General ledger - Reporting Backlog, Backlog burn and replenishment - Company Overview Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 60,000 people, with revenues of over $10 billion. We provide performance-driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets, including the upstream, midstream and downstream oil & gas, power & process, environment and infrastructure, clean energy, mining, nuclear, and general industrial sectors. Diversity Statement We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws. Job Reference 2019-59176

Keywords: Wood, Austin , Project Accountant, Accounting, Auditing , Austin, Texas

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