Experience: 4 + Years
Education: High School/Secondary
Employment Type: Full Time Contractor
Location: Houston, Texas, United States
Wood currently has an exciting opportunity for a Project Accountant to join our DLO business in our Houston, TX office. Reporting to the Accounting Manager, Americas, this role is primarily responsible for the accounting for projects which will include lump sum, and reimbursable contracts of both long term and short term contracts with a main focus of conforming with accounting principles and business processes.
If you have exceptional communication and interpersonal skills, strong technical fundamentals, and thrive on challenges in a fast-paced environment, this is the opportunity for you.
- Understand the financial information contained within the commercial agreements, agreed rates and required approvals
- Provide project accounting assistance at 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. in Lump sum contracts, Revenue recognition points, Billing milestones
- Review Project costs in the month and make necessary accruals for missing costs
- Review variation Orders (VO's) and potential VO's confirming the accounting with regards to their status & probability of them being awarded by the client
- Ensure we are meeting the conditions for revenue recognition and billing milestones and ensuring we are accounting for the Revenue milestones vs cash milestones appropriately
- Account for the Impact of FX on each of the projects. For all non-functional currency projects on - understanding what is the cost to the business and improve our hedging activities
- Maintain visibility over all costs incurred; pass through costs, and, passing them through timely
- Maintain visibility over amounts unbilled and work with billing specialists to get invoices out in a timely manner
- Accounting for costs that have not yet been received on the project (maintaining margins) in accordance with the project CTR / activities
- Margin analysis, Cost rate vs Sell rate explaining mix and volume variance
- Accounting from a full project forecast to the end of the job compared to "As sold"
- Contingency analysis - Understanding what we have to work with in the project and accounting for contingency when releases or increases are due
- Key contribution to Budgeting and forecasting of the service line
Must be legally able to work in the United States.
Skills / Qualifications
- Qualified Accountant (ACCA, ACA, CIMA) with a proven track record in project accounting with minimum 4 years of experience in similar area (preferred)
- Numerate, Analytical, with an Inquisitive background
- Experience working on an ERP system, ideally Oracle but other ERP's also carry importance
- Computer literate with a good understanding of Microsoft Office
- Good Excel skills
- Knowledge of Project Accounting and long term Contracts
- Must be able to meet deadlines
Wood is a global leader in engineering and consultancy 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 45,000 people. www.woodplc.com
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 the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 55,000 people, with revenues of over $11 billion. We provide performance-driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets including upstream, midstream and downstream oil & gas, chemicals, environment and infrastructure, power & process, clean energy, mining, nuclear and general industrial sectors. We strive to be the best technical services company to work with, work for and invest in.