The Role
Manages project accounting across setup, cost tracking, reporting, forecasting, billing, revenue recognition, and closeout. Reviews project performance against plans, analyzes variances, supports collections and audits, maintains change orders and risk registers, and collaborates with project management, scheduling, supply chain, and accounting teams. Ensures percentage-of-completion accounting complies with US GAAP and contributes to quarterly forecasting and project status reporting.
Summary Generated by Built In
Job Summary & Responsibilities
The Project/Cost Accountant is responsible for implementing and carrying out the project accounting function on various projects which include project set up, cost tracking, cost reporting and analysis, forecasting, preparing customer invoices, and other general duties as assigned. This role works closely with project management, scheduling, supply chain, and accounting to ensure that all aspects of the project are being monitored, reported, and forecasted appropriately.
- Develop and maintain good working relationships with both internal and external contacts
- Review and analyze costs on a weekly basis to ensure costs on the project are accurate
- Initiate customer billing and work with project management to monitor status and drive cash collections
- Assist Controller with AP & AR weekly review
- Ensure that Percent of Completion revenue recognition is appropriately reflected in project financials and in line with US GAAP
- Report project performance by tracking actuals against planned values for revenue, gross profit, billing and cash receipts
- Effectively communicate variances to management
- Track any changes to revenue or cost estimates in accordance with company policy through the contract change notice procedures
- Generate the Project Status Report (PSR) monthly and special ad hoc reports/analysis as needed
- Respond to internal and external audit requests timely
- Monitor schedule progress against baseline and work with project management to drive the team towards meeting the schedule milestones
- Participate in Quarterly forecasting
- Maintain a timely change management program along with change order log
- Maintain project risk and opportunity register and contingency draw down plan
- Conduct Project Close-out activities
Qualifications
- Bachelor’s degree in Accounting, Finance, or equivalent
- 10+ years of Project Accounting Experience
- Proficient in percentage of completion accounting
- Proficient in forecasting and change order management
- Detail oriented with a high level of accuracy
- Strong creative, analytical, and problem-solving skills
Skills Required
- Bachelor's degree in Accounting, Finance, or equivalent
- 10+ years of project accounting experience
- Proficiency in percentage-of-completion accounting
- Proficiency in forecasting and change order management
- Detail-oriented with a high level of accuracy
- Strong creative, analytical, and problem-solving skills
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The Company
What We Do
Babcock & Wilcox Enterprises is an American power generation company.
