What are the responsibilities and job description for the Senior Project Accountant position at Bayou Holdco Inc?
Description
Key Responsibilities
POC & Revenue Recognition
- Own and manage percentage-of-completion (POC) accounting across multiple active projects.
- Calculate and analyze revenue recognition, cost-to-complete estimates, and project margins.
- Monitor project performance against budgets, forecasts, and backlog.
- Ensure compliance with applicable accounting standards and internal policies for project revenue recognition.
- Prepare and review project WIP schedules, over/under billings, and related reconciliations.
Project Financial Management
- Track project costs, commitments, and forecasted spend throughout the project lifecycle.
- Partner with project managers to review cost estimates, change orders, and margin projections.
- Identify risks, cost overruns, and margin erosion early, and provide actionable insights.
- Analyze backlog composition, profitability, and revenue timing.
Reporting & Close Process
- Lead monthly project accounting close activities, including revenue accruals and cost adjustments.
- Prepare financial reports, variance analyses, and executive summaries related to project performance.
- Maintain accurate project financial records and supporting documentation.
- Support audit requests and provide documentation related to revenue recognition and project accounting.
Process Improvement & Controls
- Develop and improve project accounting processes, controls, and reporting tools.
- Ensure data integrity between project management systems and financial systems.
- Help standardize forecasting, cost tracking, and project review procedures.
- Support implementation or enhancement of ERP or project accounting systems, as needed.
Cross-Functional Collaboration
- Serve as a financial partner to operations, project management, and senior leadership.
- Provide guidance on financial implications of project decisions, contract terms, and change orders.
- Support budgeting, forecasting, and long-range planning for project revenue and costs.
Manufacturing Cost Accounting Integration
- Ensure accurate integration between project accounting and standard/actual cost systems.
- Analyze material usage variances, labor variances, and manufacturing overhead absorption.
- Partner with Plant Finance and Operations to review production cost performance.
- Support inventory valuation accuracy and ensure proper treatment of work-in-process inventory.
- Assist in evaluating capital expenditures and asset capitalization related to manufacturing projects.
Requirements
Education
- Bachelor’s degree in Accounting or Finance required
- CPA or CMA preferred
Experience
- 5–8 years of progressive accounting experience
- Strong experience in manufacturing or industrial environments
- Direct experience with Percentage of Completion (POC) accounting
- Experience with WIP reporting and cost-to-complete forecasting
- Familiarity with inventory accounting and standard costing systems
Technical Skills
- Advanced knowledge of GAAP
- Strong understanding of manufacturing cost accounting principles
- Advanced Excel skills (financial modeling, variance analysis)
- Experience with ERP systems (Infor, Oracle, JD Edwards, Epicor, etc.)