Project Accountant I
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Job Location:
Navi Mumbai - India
Monthly Salary:
Not Disclosed
Posted on:
30+ days ago
Vacancies:
1 Vacancy
Job Summary
About You
To be considered for this role it is envisaged you will possess the following attributes:
- Educational Qualification: Graduate or Post-Graduate in Commerce.CA Intermediate or similar semi qualified candidates would be preferred
- Experience: Typically 5-6 years in Finance and Accounting.
- Domain experience: Project Accounting
Moving forward together
Were committed to building a diverse inclusive and respectful workplace where everyone feels they belong can bring themselves and are heard. We provide equal employment opportunities to all qualified applicants and employees without regard to age race creed color religion sex national origin ancestry disability status veteran status sexual orientation gender identity or expression genetic information marital status citizenship status or any other basis as protected by law.
We want our people to be energized and empowered to drive sustainable impact. So our focus is on a values-inspired culture that unlocks brilliance through belonging connection and innovation.
And were not just talking about it; were doing it. Were reskilling our people leveraging transferable skills and supporting the transition of our workforce to become experts in todays low carbon energy infrastructure and technology.
Whatever your ambition theres a path for you here. And theres no barrier to your potential career success. Join us to broaden your horizons explore diverse opportunities and be part of delivering sustainable change.
- We deliver the worlds most complex projects.
- Work as part of a collaborative and inclusive team.
- Enjoy a varied & challenging role.
Building on our past. Ready for the future
Worley is a global professional services company of energy chemicals and resources experts headquartered in Australia.
Right now were bridging two worlds as we accelerate to more sustainable energy sources while helping our customers provide the energy chemicals and resources that society needs now.
We partner with our customers to deliver projects and create value over the life of their portfolio of assets. We solve complex problems by finding integrated data-centric solutions from the first stages of consulting and engineering to installation and commissioning to the last stages of decommissioning and remediation. Join us and help drive innovation and sustainability in our projects.
The Role
As a Project Accountant I with Worley is to develop project accounting procedures for project(s) assigned. Considers complex situations related to the contract staff size geographic location etc. Helps ensure compliance with Company policy project requirements and good accounting procedures. This role supports teams across multiple time zones and will require working hours aligned to global operations. Your skills and expertise will be utilized across a range of domestic and international projects starting in the bid phase continuing to award start up and execution.
Project initiation
Accountable for the financial implications of the set up and maintenance of projects in the business system in accordance with policies pricing schedules customer details calendars payment plans.
Interprets the contract terms and conditions and ensures commercial terms are built into project set up
Ensures projects are financially closed
Leads/Supports Audits
Reporting & Analysis
Ensures processes in place to enable accurate revenue recognition
Regularly reviews margins WIP debtor and cash flow
Ensures intercompany payables or receivables reconciled with counterpart and ensure prompt payments
Link between Accounts Payable and project for coding invoices ensuring that missing/expected invoices are accrued for/accounted timely
Create and validate forecast/budget for chargeable hours sell/cost rates resulting margin and ensure target is reasonable
Produces and analyses trend and variance report as needed
Gathers project accruals and provision information as needed
Owns the accuracy of financial data as reported in monthly WPRs through collaboration with project team
Work closely with project controls and finance analysts to produce monthly reports and estimates
Works closely with project operations controls and billing coordinators to improve project administration processes and effectiveness.
Business Partnership
Participates in processes that enable the project team to effectively manage its costs and risks. Identifies and implements specific cost reductions and/or leakages providing input into risk management exercises.
Day to day finance business partner to the project management team and representative of Finance function to them
Cash Management
Ensures invoicing plan is in place to maximise DSO
Reviews DSO reports and assists in the development of corrective action plans
Works with customers to ensure invoices have been received approved and actioned providing status to Project Team
Provide input into cash forecast to ensure accuracy and appropriate challenge to expedite cash collection
Reviews WIP/AR reports with project Managers to ensure timely billing and collection
Attest/review project transaction documents and accounts for accuracy and completeness including sub-charges data sheets time reports expenses subcontractor invoices etc.
Ensures accurate production of customer invoices credit notes and back up documentation
Ensures billings do not exceed approved budget limits and works with project managers and project Controls to resolve issues
Drives timely recording of 3rd. Party vendor invoices
Commercial Support
Actively participates in preparation and at monthly project reviews to challenge the financial and commercial health of projects
Interprets commercial terms and conditions including Fx tax credit and system implications on bids and tenders to ensure accurate and timely costing and revenue recognition
Complete working papers to capture use accrual and draw down of contingencies and provisions; complete working papers to address how we will account for project incentives.
Identifies areas of potential project gross margin improvement; ensures accurate recovery of all costs as defined in the contract and ensures non-billable costs are minimize.
Ensures the DOA is adhered to for any write off time expense or invoice non-billable time is approved per DOA request for continuance of work where required
- Submission of variation KPI and contract amendment requests and claims in accordance with contract requirements
Key Skills
About Company
A leading global provider of professional project and asset services in the energy, chemicals and resources sector.
