• Project Accountant Jobs in Malaysia - 998232

    Wood Group
  • 6 - 8 Years
  • Malaysia - Kuala Lumpur - KLCC
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  • Posted above 1 month
  • Job Views: 18
  • Job Applicants: Less than 10

Job Description

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



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 ie 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’s) and potential VO’s confirming their status & 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– 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


Project reporting –to include large projects in the financial & progress reporting pack

Provide variance analysis showing “As Sold/Original ” P/L verses “Actual / Current” P/L

Maintaining 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 & 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 & 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 – 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

Profile Summary

Type:Company Job

Role:Senior Executive


Salary:Not Disclosed

Deadline:12th Feb 2020

Company Profile

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

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