Project Accountant

Permanent position

Inchinnan, Glasgow

The Role

The Project Accountant will ensure there is accurate and timely reporting of long-term projects and services - actual and forecast financial performance, both from a project performance and Financial Accounting perspective in accordance with IFRS15 and other applicable accounting standards. This includes robust challenge of costs to drive continuous cost improvement throughout the project life cycle.

They will implement Cost Management best practices and apply this consistently across all projects to proactively identify cost variances and risk areas and mitigations to project managers, to assist delivery of project & customer requirements in a cost-effective manner.

To work closely with Project Managers to ensure they understand the financial performance of their respective projects and assist in communicating this to the wider business as required.

Long term project or services vary in length and value typically ranging from 1 year to 5 years and from £1m to £30m.

This role is expected to build strong relationships across the business with bids, operations, supply chain/procurement, project management, planning, project controls and commercial teams.

You will need a flexible approach to working as the role will be based in Inchinnan, Glasgow, with the expectation to travel as required to support the bids and project teams as required.

Key Duties And Responsibilities

• Preparation of detailed project baseline cost and revenue budget and regular EAC reforecasts in collaboration with the Project team and present the information to stakeholders as required.
• Perform Value of Work Done (VOWD) assessments through project life, compare to planned progress, identify and mitigate slippage and escalate issues to management.
• Responsible for the preparation and population of project specific forecasting and cost tracker model; highlighting performance improvements.
• Providing project monthly revenue and profit margin information including intercompany information for actuals, forecasts and annual budget process in accordance with IFRS15 accounting standard.
• Prepare and document Accounting based papers to support the accounting treatment for the project covering appropriate accounting standards and to update as required.
• Conduct cost variance analysis and sensitivity analysis and identify opportunities, risks and mitigations where available to the Project Manager.
• Ensure costs are correctly allocated to cost accounts/work orders, review correct coding of requisitions, purchase orders, contracts, invoices, variations, reconciling costs to the General Ledger and investigating variances.
• Facilitate and participate in lessons learnt sessions on project delivery and feedback to the responsible functions to ensure these are captured and acted upon to improve future project delivery.
• Manage multi-currency project reporting and FX exposure
• Manage intercompany recharges, cost allocations, and project-related billing.