Project Accountant Job Description
Job summary 1
As a part of our Engineering Financial Operations Team, a Project Accountant is responsible for providing high-level financial analysis on a portfolio of projects through their life cycle and must thoroughly understand the financial components of a project and proactively work with Project Managers to monitor and analyze project performance against budget. A Project Accountant is also responsible for the accurate project set up by the terms and conditions of the contract.
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Job summary 2
The Project Accountant is primarily responsible for performing a variety of professional-level duties relating to accounting, financial, and budget analysis. Working independently, under general supervision, this position assists with budget preparation and analysis; monitors funding sources and expenditures; prepares and/or coordinates the preparation of financial reports; maintains financial databases; and performs varied accounting and financial functions in assigned areas including capital projects, escrow, project-related fees, trust, and general fund.
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Job summary 3
The Project Accountant works with the project management and corporate accounting team to gather and maintain accounting records and processes.
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Job summary 4
Project Accountant will report directly to the Senior Project Accountant, and support the financial/accounting aspects of project management by performing project accounting and cost reporting of multiple projects, including day-to-day interface with project management, client, and subcontractor personnel.
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Job summary 5
We are seeking a Project Accountant to support project financial tracking, accounting, and billing activities on cost reimbursement, time & materials, and firm-fixed-price projects for US Government clients.
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Job summary 6
The Project Accountant is a key position on our Finance team. The Project Accountant works closely with Project Managers on all facets of the project accounting and administration needs. The ideal candidate should have basic accounting knowledge and can positively interact with key members of the project team.
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Your role is critical to supporting the housing and services we provide our communities, so if you are a collaborative, curious team member who is interested in working for a deeply mission-driven company, keep reading! As our Project Accountant, you will focus on financial reporting to internal and external clients, construction and project accounting, financial statements, and reporting for construction and development projects.
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Job summary 8
We are seeking a Project Accountant to join our Accounting department. The Project Accountant will be responsible for helping Project Managers (PM) ensure the fiscal health and financial management of assigned projects throughout the entire project life cycle, from project budgeting through client invoicing and collections. The Project Accountant will develop and maintain good working relationships with Project Managers and other accounting team members to see projects through to successful completion.
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Job summary 9
We are seeking an individual who has an eye for detail, is organized and appreciates a fast-paced, deadline-driven environment with a client-focused mentality. The Project Accountant will work with project managers, clients, subsidiaries, and peers to generate invoices in compliance with contracts and external client needs as well as to support IT tracking needs.
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We are in search of a Project Accountant to support our team.
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Frequently asked questions
What are 10 things project accountants do?
Project accountants play a crucial role in managing the financial aspects of projects within an organization. Here are ten key responsibilities and tasks typically performed by project accountants:
Budgeting and Forecasting: Project accountants are involved in the budgeting process for projects. They collaborate with project managers to develop project budgets and provide financial forecasts based on anticipated costs and revenue.
Cost Control: Project accountants monitor project costs and expenses, ensuring that they stay within the approved budget. They analyze cost variances, identify areas of overspending or cost savings, and provide recommendations to mitigate risks and optimize project finances.
Financial Reporting: Project accountants prepare financial reports for projects, providing accurate and timely information on project costs, revenue, and profitability. These reports may be shared with project stakeholders, management, and clients to assess project performance.
Project Accounting Systems: Project accountants set up and maintain project accounting systems, ensuring that project-related financial data is captured accurately. They may utilize specialized project accounting software to track project costs, invoicing, and financial transactions.
Contract and Billing Management: Project accountants review project contracts and agreements, ensuring that financial terms and conditions are properly incorporated. They manage project billing processes, including invoicing clients or internal departments, and track payment statuses.
Revenue Recognition: Project accountants apply appropriate revenue recognition principles to ensure accurate revenue reporting. They evaluate project milestones, deliverables, and contract terms to determine the appropriate timing and method of recognizing project revenue.
Cost Analysis and Variance Analysis: Project accountants perform detailed cost analysis to identify and understand the components of project costs. They analyze cost variances against budgets and provide explanations for any deviations.
Cash Flow Management: Project accountants monitor project cash flows, ensuring that sufficient funds are available to support project activities and expenses. They forecast cash flow needs, identify potential cash flow gaps, and coordinate with finance teams to manage project funding.
Audit and Compliance: Project accountants assist in internal and external audits related to project financials. They ensure compliance with financial regulations, accounting standards, and internal control procedures.
Project Closure and Lessons Learned: When projects are completed, project accountants play a role in the closure process. They reconcile project costs, finalize financial reports, and conduct post-project financial reviews. They also participate in capturing lessons learned and contribute to improving financial processes for future projects.
These responsibilities may vary depending on the organization and project's complexity. However, project accountants typically focus on financial planning, monitoring, reporting, and analysis to support successful project execution and financial management.
What are project accountant skills?
Project accountants require a combination of financial expertise, project management knowledge, and analytical skills to effectively perform their role. Here are some key skills and competencies that are valuable for project accountants:
Financial Acumen: Project accountants need a strong understanding of financial principles, including budgeting, cost control, revenue recognition, and financial analysis. They should be adept at interpreting financial data and applying it to project decision-making.
Project Management Knowledge: Familiarity with project management methodologies and practices is crucial for project accountants. They should understand project lifecycles, milestones, deliverables, and the overall project management framework.
Analytical Skills: Project accountants must possess strong analytical skills to evaluate project costs, perform variance analysis, and identify trends or patterns in financial data. They should be able to interpret complex financial information and provide actionable insights.
Attention to Detail: Given the importance of accuracy in financial reporting and cost tracking, project accountants need to pay close attention to detail. They should have the ability to spot errors or discrepancies and ensure data integrity.
Communication and Collaboration: Effective communication and collaboration skills are essential for project accountants. They need to interact with various stakeholders, including project managers, clients, and finance teams, and convey financial information clearly and concisely.
Problem-Solving Abilities: Project accountants encounter financial challenges and complexities during projects. They should be skilled at problem-solving, identifying solutions, and making recommendations to address financial issues or risks.
Technology Proficiency: Proficiency in using financial software and project management tools is important for project accountants. They should be comfortable working with spreadsheets, accounting software, project management software, and other relevant applications.
Time Management: Project accountants often handle multiple projects simultaneously and face tight deadlines for financial reporting. Strong time management skills are necessary to prioritize tasks, meet deadlines, and ensure timely and accurate deliverables.
Ethics and Integrity: Project accountants deal with sensitive financial information and must adhere to ethical standards and maintain confidentiality. They should demonstrate integrity, professionalism, and a commitment to ethical financial practices.
Adaptability and Continuous Learning: The project landscape and financial regulations are subject to change. Project accountants need to be adaptable to evolving project requirements and industry trends. They should be open to learning and updating their skills to stay current with best practices and advancements in project accounting.
These skills, combined with relevant experience and a solid understanding of project dynamics, enable project accountants to effectively manage the financial aspects of projects and contribute to their success.