Project Accountant

Babcock & Wilcox; Akron (OH); On-site; USD 90,000 - 120,000; Full time

Job summary

Babcock & Wilcox in Akron, Ohio, is seeking a Project Accountant to oversee project accounting functions. The role involves cost tracking, forecasting, and preparing customer invoices, while ensuring financial accuracy in line with US GAAP. Candidates must have a Bachelor's degree in Accounting or Finance and at least 10 years of project accounting experience. Proficiency in percentage of completion accounting and strong analytical skills are essential. The position offers opportunities for diverse responsibilities in a collaborative environment.

Qualifications

• 10+ years of Project Accounting Experience.
• Detail-oriented with a high level of accuracy.

Responsibilities

• Develop and maintain good working relationships with customers.
• Monitor project schedule progress and drive towards milestones.
• Generate revenue/cost forecasts and cash flow monthly.
• Initiate customer billing and monitor status.
• Conduct Project Close-out activities.

Skills

Percentage of completion accounting

Forecasting

Analytical skills

Problem-solving skills

Education

Bachelor’s degree in Accounting, Finance, or equivalent

Job description

The Project 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.

Responsibilities

• Develop and maintain good working relationships with both internal and external customers
• Project set up and establishing WBS structure
• Review and analyze costs on a weekly basis to ensure costs on the project are appropriate
• Initiate customer billing and work with project management to monitor status and drive cash collections
• Review AP hold list and update vendor accruals as required
• Ensure that POC revenue recognition is appropriately reflected in project financials and in line with US GAAP
• Generate the project revenue/cost forecast and project cash flow on a monthly basis
• Report project performance by tracking actuals against planned values for revenue, gross profit, billing and cash receipts
• Effectively communicate variances to plan with 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
• Quarterly forecasting
• Maintain a timely change management program along with change order log
• Maintain project risk and opportunity register and contingency draw down plan
• Develop periodic (bi-weekly and monthly) reports to meet Client/Contract requirements
• Conduct Project Close-out activities and participate in Project Lessons Learned.
• Attend site visits as required
• Other duties as assigned

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 management
• Detail oriented with a high level of accuracy
• Strong creative, analytical, and problem-solving skills