Project Cost Accountant

Overview

Orion is working with an entrepreneurial manufacturing company where corporate culture is paramount. Our client is seeking a Project Cost Accountant that will play a crucial role in the financial management of the organization's projects by monitoring, analyzing, and reporting project-related financial data. This role involves tracking project costs, ensuring accurate cost allocation, identifying cost-saving opportunities, and collaborating with project managers, operations and accounting personnel to ensure projects are executed within budget.

The Project Cost Accountant is responsible for maintaining accurate records, providing insightful analysis, and supporting decision-making processes related to project management and resource allocation.

• Cost Tracking and Analysis
  • Monitor project costs and expenses, ensuring they align with project quotes and project budgets.
  • Analyze variances between allocated and actual costs, investigating discrepancies and providing recommendations for corrective actions.
  • Maintain detailed project cost records and documentation for auditing and reporting purposes.
• Cost and Revenue Allocation
  • Collaborate with administrative support to allocate project expenses accurately to specific releases, tasks, departments, and/or cost centers.
  • Collaborate with project managers to ensure revenue values are allocated and tracked correctly.
  • Collaborate with team to ensure costs are tracked accurately.
• Financial Reporting
  • Maintain project reports and summaries for project stakeholders, providing insights into cost trends and potential risks.
  • Present financial data to project and accounting management, highlighting key performance indicators and areas for improvement.
  • Reconcile cost of goods sold between job reporting ledger and general ledger.
• Budget Management
  • Analyze project quotes, considering various cost factors and resource requirements to determine project budgets.
  • Monitor performance throughout the project lifecycle and communicate cost/margin variances to stakeholders.
• Collaboration
  • Work closely with project managers, purchasing and other relevant stakeholders to ensure accurate cost data is captured and utilized effectively.
  • Provide financial insights to aid in project decision-making.
  • Assist with identification of scope discrepancies.
• Process Improvement
  • Continuously evaluate and enhance project cost accounting processes, identifying opportunities for increased efficiency and accuracy.
  • Implement best practices and tools to streamline cost tracking and reporting procedures.

• Bachelor's degree in Accounting or Finance.
• 2-3 years of experience in cost accounting or project accounting.
• Strong understanding of accounting principles, cost allocation methodologies, and financial analysis techniques.
• Proficiency in financial software and tools
• Excellent analytical skills with a keen attention to detail.
• Effective communication and interpersonal skills to collaborate with cross-functional teams.
• Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.

The Project Cost Accountant plays a vital role in ensuring the financial success of the organization's projects by monitoring and analyzing project-related financial data, managing costs, and providing insights for informed decision-making. This role requires a combination of accounting expertise, analytical skills, and collaboration with various stakeholders to achieve effective project cost management and financial accountability.