Project Accountant

Position: Project Accountant
Experience : 5 years and above
Qualifications: University degree in the field of Finance and/or Financial Management


Location: Chennai, India

About Company :

This company is the fresh alternative in global energy services. They are a technology-driven company providing product, services and bespoke solutions to clients across the drilling, production and decommissioning market sectors.. They have presence in 6 countries across the globe.


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

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

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

Liquidated Damages.

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 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.

QHSE Responsibilities

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

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