Wood currently has an opening for a Project Accountant in its Kuala Lumpur office Supporting the Specialised Technical Services group the Project Accountant will be primarily responsible for overseeing project accounting for short to long term lump sum and reimbursable contracts according to accounting principles and business processes The Project Accountant will work closely with Project Managers Project Controllers Billing Analyst and Project Finance Managers to obtain individual project financials project analysis and project forecasts He She will work effectively across the project allocation to ensure that robust project accounting takes place Due to local requirements this position is only open to Malaysian nationals ResponsibilitiesProject Understand the financial information contained within the commercial agreements agreed rates and required approvals Provide project accounting assistance at project kick-off meetings and monthly project review meetings Work with Project Controls to ensure each project is set up to capture the structure correctly i e for lump sum contracts revenue recognition points billing milestones Review project costs each month and make necessary accruals for missed costs Review variation orders VO and rsquo s and potential VO and rsquo s confirming their status and probability of them being awarded by the client Ensure the conditions for revenue recognition and billing milestones are met Ensure that the revenue milestones vs cash milestones are accounted for appropriately Account for the impact of Foreign Exchange FX on each of the projects For all ongoing non-functional currency projects and ndash understanding what is cost to the business and improve hedging activities Maintain visibility over all costs incurred on projects Maintain visibility over unbilled work and working with Billings Analyst to ensure that invoices to clients are issued on a timely basis Accounting for costs that have not yet been received on the project maintaining margins in accordance with the project CTR Activities Perform margin analysis Cost rate vs Sell rate explaining mix and volume variance Accounting from a full project forecast to the end of the job Work with external auditors during annual financial audits Oversee and supervise Billing Analyst Reporting Project reporting and ndash to include large projects in the financial and progress reporting pack Provide variance analysis showing and ldquo As Sold Original and rdquo P L verses and ldquo Actual Current and rdquo P LMaintaining cash flow implications on the wider business especially on large projects Maintaining clear visibility of the project balance sheet Reconciliation and financial management of work in progress and unbilled accrued sales understanding the timing of these areas Reconcile the job cost ledger to the general ledger Reporting backlog backlog burn and replenishment and lump sum profit restrictions Skills and Qualifications Qualified Accountant either with a Degree or Professional Qualifications in Accounting with a proven track record in project accounting Prior experience as a Project Accountant or Project Controls in an engineering consultancy or oil and gas project-based environment would be helpful Experience working with ERP systems such as Oracle would be an advantage Strong numerical analytical and inquisitive background Able to provide examples in developing a reporting framework Computer and systems savvy with a strong understanding of Microsoft Excel Able to meet month end reporting deadlines Ableto work independently as well as in a team environment Strong communication skills and ndash both written and oral Organised and able to provide real time information quickly to stakeholders or Project Managers Proven ability to influence and explain project accounting principles to non-finance personnel
Type : Company job
Role : Senior Executive
Industry : Oil/Gas/Petroleum
Salary : Not Disclosed
Wood Specialised Technical Services (STS) is a engineering leader in the areas ofsubsea, asset integrity, flow assurance, clean energy & vibration, dynamics and noiseservices.Headquartered in the UK with a strong track record in engineering excellence, the company has a reputation of being a leading engineering design organisation supporting the energy industry.
You can find out more about us at www.woodplc.com