Project Accountant

Job
Overview

Chennai Tamil Nadu
  1. Finance, HR and Administration
  2. Permanent
1087265
₹500000 - ₹800000
Job Description

Position: Project Accountant

Reporting Line: Finance Manager

Department: Finance

Location: Chennai, India



Role Synopsis

The Project Accountant role is an important link between the Operations and Finance teams.The Project Accountant has the overall responsibility of providing the Management team with accurate and timely information on financial forecasts, along with providing robust Project controls to ensure correct project creation, accurate reporting of costs and revenue, timely raising of invoices along with ensuring bonds are tracked and managed accordingly.



Key Accountabilities (includes, but not limited to the following)

Monthly reconciliations

Inventory.

Work in progress.

Revenue and cost of goods sold.

Billing in excess of sales and sales in excess of billing.

Project accruals (cost accruals, loss making project accruals).

Liquidated Damages.

Client invoicing

Ensuring timely creation of invoices in-line with contract T&C’s.

Ensure accurate tracking in AX for cashflow purposes.

Weekly metrics production to highlight slippages.

Project Forecasting

Provide weekly reporting of actual costs hitting projects (material, Labour) and drive the business to meet these targets.

Control the collation of operational inputs into financial forecast alongside cashflow forecast (Production, Engineering, Project Management and Supply Chain).

Provide detailed variance analysis of movement week over week supported by Project Managers.

Support the ‘estimate at completion’ project specific forecasting, providing detailed movement vs bid and previous EAC.

Ensure project updates are reflected in AX.

Track any potential LD risk on ongoing projects, and work with Contracts Manager to ensure these are adequately reported and mitigated where possible.

Bonds

Ensure accurate tracking of existing bonds.

Liaise with credit controller on extensions of bonds in-line with T&C’s.

Work with Proposals function on cashflow calculations, and advising on costing changes based on previous similar work.

Lead continuous Financial and Commercial awareness training in conjunction with Contracts Manager to ensure Project team can operate at a world-class standard.

Any other delegated responsibilities as instructed by Line Management within the timeframe specified in a safe and efficient manner to meet business requirements such as petty cash, AP invoice scanning, general journals bookings for month end).


Compliance Requirements

Company have a Business Ethics Policy (‘the policy’) which provides guidance to all employees in their day to day roles as well as helping you and the business comply with the law at all times. The incumbent must read, understand and comply with, at all times, the policy along with all other corresponding policies, procedures and directives.


QHSE Responsibilities

Demonstrate a personal commitment to Quality, Health, Safety and the Environment

Apply Company, and where appropriate Client Company’s, Quality, Health, Safety & Environment Policies and Safety Management Systems

Promote a culture of continuous improvement, and lead by example to ensure company goals are achieved and exceeded

Qualifications

Education

• University degree in the field of Finance and/or Financial Management

• CIMA or ACCA part or fully qualified.


Experience

• 5+ years’ experience working in a Project Accounting role.

• Experience working in a manufacturing environment.


Preferred

• Microsoft Dynamics (AX 2012) experience.

• Working knowledge of percentage of completion accounting.

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