Project Accountant

Randstad; Cyberjaya; On-site; MYR 60,000 - 80,000; Full time

Job summary

A leading recruitment agency seeks a Project Accountant to manage the financial aspects of construction projects in Cyberjaya, Malaysia. The role involves financial reporting, budgeting, and cash flow management, ensuring compliance with revenue recognition standards. Ideal candidates will have a Bachelor's Degree in Accounting or Finance, experience in Project Accounting, and proficiency in ERP systems. Strong communication and meticulous attention to detail are essential.

Qualifications

• Minimum of 2–4 years of experience in Project Accounting, preferably in construction or engineering.
• Professional certification (e.g., ACCA, CPA, MIA) is highly preferred.

Responsibilities

• Provide accurate, timely financial reports, budgets, and forecasts.
• Analyze project performance to prevent cost overruns.
• Prepare and maintain project cash flow statements.
• Collaborate to verify subcontractor claims and invoices.

Skills

Understanding of POC revenue recognition

Proficiency in construction-related ERP systems

Advanced Microsoft Excel skills

Strong communication skills

Meticulous attention to detail

Education

Bachelor’s Degree in Accounting, Finance, or related field

Tools

IFCA

SAP

Oracle

Job description

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.

Job Details

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.

Skills
no additional skills required
Qualification
no additional qualifications required
Education
Bachelor Degree

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