• Title
    Project Accountant
    Requisition ID
    Work Location
    Department / Discipline
    Financial Control
    Position Type
    Staff / Permanent
  • Overview / Responsibilities

    Wood is currently recruiting for a Project Accountant to support their Clean Energy business based in Glasgow. 


    The role is primarily responsible for accounting for projects which will include lump sum contracts and reimbursable contracts of both long term contracts and short term contracts. The main focus is to conform with accounting principles and business processes.

    This key role:

    • Works closely with Project Managers, Project Controllers, Billing Specialist and the Project Finance Managers to produce individual project financials, project analysis and obtain project forecasts
    • Works effectively across the project allocation to ensure that robust project accounting takes place

    Project Responsibilities:

    • Understand the financial information contained within the commercial agreements, agreed rates and required approvals
    • Provide project accounting assistance at project inception and monthly project review meetings
    • Work with Project Controls to ensure each project is set up to capture the structure correctly i.e. in lump sum contracts, revenue recognition points and billing milestones
    • Review project costs in the month and make necessary accruals for missing costs
    • Review variation orders (VO’s) and potential VO’s confirming the accounting
    • Ensure we are meeting the conditions for revenue recognition and billing milestones and ensuring we are accounting for the revenue milestones vs cash milestones appropriately
    • Maintain visibility over all costs incurred; pass through costs, and, passing them through timely
    • Work with Billing Specialists and maintain visibility over amounts unbilled
    • Accounting for costs that have not yet been received on the project (maintaining margins) in accordance with the project
    • Margin analysis, cost rate vs sell rate explaining variance
    • Accounting from a full project forecast to the end of the job
    • Contingency analysis – understanding what we have to work with in the project and accounting for contingency when releases or increases are due

    Reporting Responsibilities:

    • Project reporting on all large projects
    • Provide variance analysis showing “as sold/original ” P/L verses “actual/current” P/L
    • Maintaining clear visibility of the project
    • Reconciliation and financial management of work in progress & unbilled/accrued sales, understanding the timing and timing of these areas
    • Reconcile the job cost ledger to the general ledger
    • Reporting backlog, backlog burn and replenishment





    Skills / Qualifications

    • Numerate, Analytical, with an Inquisitive background
    • Able to provide examples where you have developed a reporting framework
    • Experience working on an ERP system, ideally Oracle but other ERP’s also carry importance
    • Computer literate with a good understanding of Microsoft Office
    • Good Excel skills
    • Knowledge of Project Accounting and Long term Contracts
    • Must be able to meet deadlines
    • Ability to work well in a team and independently
    • Strong communication skills – both written and oral


    Qualifications preferred:  

    • Qualified Accountant (ACCA, ACA, CIMA) with a proven track record in project accounting


    Company Overview

    Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 60,000 people, with revenues of over $10 billion.  We provide performance-driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets, including the upstream, midstream and downstream oil & gas, power & process, environment and infrastructure, clean energy, mining, nuclear, and general industrial sectors.  www.woodplc.com  


    Diversity Statement

    We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.


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