Project Accountant

ROLE OVERVIEW:

The Project Accountant is responsible for managing, monitoring, and reporting project-related financials within the factory. This includes budgeting, cost control, CAPEX tracking, and ensuring compliance with accounting standards and internal controls.

DUTIES & RESPONSIBILITIES:

Project Costing and Budget Management

• Prepare detailed project budgets (CAPEX and OPEX) in coordination with engineering and operations teams.
• Monitor actual project costs and perform variance analysis against budget.
• Ensure proper cost allocation to projects, cost centers, and WBS elements.
• Perform ROI / NPV analysis for capital projects.

Financial Reporting

• Prepare and submit periodic project financial reports (monthly/quarterly).
• Provide insights on cost overruns, savings, and risks.
• Maintain accurate project accounting records in SAP.

CAPEX and Fixed Asset Accounting

• Track and monitor capital expenditures against approved budgets.
• Ensure timely capitalization of completed projects in compliance with accounting standards.
• Coordinate asset tagging and classification.

Procure-to-Pay (P2P) Oversight

• Review invoices and validate against purchase orders and project progress.
• Ensure proper coding of expenses to project accounts.
• Monitor contractor/vendor payments aligned with milestones.

Inventory and Materials Control

• Account for materials issued to projects (construction, maintenance, upgrades).
• Reconcile project-related inventory usage and variances.

Internal Controls and Compliance

• Ensure adherence to company policies, accounting standards and tax rules.
• Maintain proper documentation for all project-related transactions.
• Support internal/external audits.

Project Monitoring and Coordination

• Partner with engineering, production, and procurement teams to validate project progress.
• Ensure financial reporting reflects actual physical progress.

Forecasting and Analysis

• Prepare cost forecasts and estimate cost-to-complete.
• Analyze financial risks and provide recommendations to management.

Project Close-Out

• Reconcile all project costs upon completion.
• Perform final variance analysis vs. approved budgets.
• Facilitate closure and capitalization in SAP.

QUALIFICATIONS:

• Bachelor's degree in Accountancy, Finance, or a related field
• At least 3 years of relevant accounting experience, preferably in manufacturing or project accounting