Senior Project Accountant

Requirements & Summary
Company Details




Company: Wood
Skills: Accounting
Education: High School/Secondary
Location: Kuala Lumpur, Malaysia





Overview / Responsibilities Wood has an immediate opening for a Senior Project Accountant to be based in our Kuala Lumpur office. This is a permanent staff role supporting our Operations/Projects division based in KL. As the Senior Project Accountant, you 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 role will also be responsible for financial accounting aspects of the business (audit support, statutory reporting etc) as well as business partnering to local Operational leaders. The Senior Project Accountant will work closely with Project Managers, Project Controllers, Billing Analysts and Finance Lead to obtain individual project financials, project analysis and project forecasts. The successful applicant will work effectively across the project allocation to ensure that robust project accounting takes place. Please note that due to local statutory requirements, this position is open to Malaysian nationals only at this time. Project related accountabilities of the role includes: 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 lumpsum 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 the cost to the business is 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.Provide weekly Billability and Indirect cost reports to key stakeholdersHFM Hyperion reporting at month end actuals and during Budgets/ForecastsPrepare annual P&L Budgets for each of the service lines and bi-annual ForecastsWork with external auditors during annual financial audits.Oversee and supervise Billing Analyst.Reporting requirements for this role includes: Project reporting -to include large projects in the financial & progress reporting packProvide variance analysis showing "Budget /Forecast" P/L vs "Actual / Current" P/LMaintaining cash flow implications on the wider business, especially on large projectsMaintaining clear visibility of the project balance sheet including Bal Sheet RecsReconciliation and financial management of work in progress & unbilled / accrued sales, understanding the timing of these areasReconcile the job cost ledger to the general ledgerReporting 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 accountingPrior experience as a Project Accountant or Project Controls in an engineering consultancy or oil and gas project based environment is requiredExperience working with large ERP systems such as Oracle would be a strong advantageStrong numerical, analytical and inquisitive backgroundAble to provide examples in developing a reporting frameworkStrong computer and systems skills with a strong understanding of Microsoft ExcelHMF Hyperion experience desirableAble to meet month end reporting deadlinesAble to work independently as well as in a team environmentStrong communication skills - both written and oralOrganised and able to provide real time information quickly to stakeholders or Project ManagersProven ability to influence and explain project accounting principles to non-finance personnelProven ability to improve and add value to Finance processes Company Overview Wood is a global leader in consulting and engineering, helping to unlock solutions to critical challenges in energy and materials markets. We provide consulting, projects and operations solutions in 60 countries, employing around 35,000 people. www.woodplc.com Diversity Statement We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.




Wood is a global leader in consulting and engineering across energy and the built environment, helping to unlock solutions to some of the world’s most critical challenges. We provide consulting, projects and operations solutions in more than 60 countries, employing around 40,000 people. At Wood our common purpose is to ‘unlock solutions to the world’s most critical challenges.’ Through the delivery of our Consulting, Project and Operations solutions across energy and the built environment we deliver exceptional returns for our clients, our people, our investors and the communities where we live and work. Visit us at  www.woodplc.com and follow us on Facebook and LinkedIn.
 




Apply Now

Kuala Lumpur, Malaysia Kuala Lumpur, Malaysia

Human Resources

Full Time

candidate to apply via our website

Published On 10-10-2023