Sr. Cost Accountant

Sr. Cost Accountant

We are looking for an experienced Sr. Cost Accountant to join a contract opportunity supporting complex engineered-to-order projects in Severn, Maryland. This role will oversee project financial performance, ensure accurate cost accumulation, and apply compliant revenue recognition practices under ASC 606. The ideal candidate brings strong manufacturing and project accounting experience, a sharp analytical mindset, and the ability to work closely with operations and project leadership to improve visibility into margins, forecasts, and overall financial results.

Responsibilities:

• Manage the financial performance of assigned projects from initial budget setup through final closeout, including forecasting, spend monitoring, and margin review.
• Track labor, materials, overhead, and subcontractor expenses to maintain accurate project costing and reliable financial records.
• Work with project managers and operational teams to confirm cost details, evaluate financial risks, and address potential overruns before they escalate.
• Apply ASC 606 guidance to determine appropriate revenue recognition methods based on contract structure, project progress, and milestone achievement.
• Prepare and maintain supporting schedules and documentation for revenue recognition, audit readiness, and policy compliance.
• Lead monthly project close activities by validating financial data, resolving discrepancies, and delivering timely reporting outputs.
• Produce recurring reports covering revenue, backlog, profitability, and forecast updates for both project teams and finance leadership.
• Perform budget-to-actual and forecast-to-actual analysis to highlight trends, explain variances, and support decision-making.
• Partner across finance, engineering, procurement, and operations to align project execution with financial expectations and reporting standards.
• Recommend and implement process improvements that strengthen controls, increase accuracy, and improve the scalability of project accounting practices.