Role Purpose
The Project Accountant is the financial backbone of our construction projects, serving as the critical link between the site project teams and the corporate finance department. This role is responsible for the end-to-end financial management of specific projects, ensuring accurate revenue recognition, proactive cost control, and optimized cash flow from project commencement to completion.
Key Responsibilities
1. Financial Reporting, Budgeting & Forecasting
- Provide Project Managers and Senior Management with accurate, timely financial reports, budgets, and project forecasts.
- Analyze project performance against original budgets and provide early warnings on potential cost overruns.
- Calculate and prepare actual costs incurred and monitor working capital requirements to ensure the project is sufficiently funded.
2. Revenue Recognition & POC Management
- Coordinate with the project team and planners to determine the forward-looking Percentage of Completion (POC%) by month through the end of the project life cycle.
- Provide month-end accruals for POC Revenue Recognition to the Head Office to ensure accurate consolidated monthly reporting.
- Ensure all revenue recognition practices comply with industry accounting standards (e.g., MFRS 15 / IFRS 15).
3. Cash Flow & Liquidity Management
- Prepare and maintain Weekly and Monthly Project Cash Flow statements, monitoring variances closely.
- Generate, audit, and dispatch project invoices in a timely manner to ensure a steady and predictable cash inflow.
- Monitor Receivable Income and proactively support Project Managers with debt collections and resolving billing disputes.
4. Operational Support & Coordination
- Collaborate with the procurement and site teams to verify subcontractor claims and supplier invoices.
- Maintain the project's financial files, including contracts, change orders (VOs), and insurance documentation.
- Conduct periodic site visits to align physical progress with financial reporting.
Required Qualifications & Skills
- Education: Bachelor’s Degree in Accounting, Finance, or a related field. Professional certification (e.g., ACCA, CPA, MIA) is highly preferred.
- Experience: Minimum of 2–4 years of experience in Project Accounting, preferably within the construction or engineering sectors.
- Technical Skills:
- Understanding of POC (Percentage of Completion) revenue recognition.
- Proficiency in construction-related ERP systems (e.g., IFCA, SAP, or Oracle).
- Advanced Microsoft Excel skills for complex financial modeling and cash flow tracking.
- Soft Skills:
- Strong communication skills to liaise between technical project teams and financial management.
- Meticulous attention to detail and high level of accuracy.
