What are the responsibilities and job description for the Project Accountant position at Babcock & Wilcox?
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.
- 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
- 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