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Become A Project Accountant

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Working As A Project Accountant

  • Interacting With Computers
  • Processing Information
  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Organizing, Planning, and Prioritizing Work
  • Mostly Sitting

  • Repetitive

  • $55,000

    Average Salary

What Does A Project Accountant Do At Turner Construction Company

* Set-up, coordinate, and evaluate the financial administration, general conditions budgeting, and certain tax reporting for the project.
* Responsible for project assets with respect to insurance and tax requirements, including managing the process.
* Evaluate and manage project cash position with respect to net assets, liabilities, and unfunded work in place.
* Communicate cash position risk issues, including those with respect to unapproved and unfunded change order work in place.
* Implement, and maintain internal control safeguards for the project.
* Coordinate the preparation of financial statements, financial reports, special analyses, and information reports for the project.
* Set up, lead, oversee and implement procedures to insure contractual requirements with respect to all financial aspects are followed by all project participants including preconstruction billings, non reimbursable projections and analysis’s, proper fee billings, and financial contingency reporting.
* Investigate and resolve financial issues on behalf of Turner.
* Coordinate and communicate with owners/architects/vendors in connection with resolving financial disputes and with respect to accounts payable, and accounts receivable issues.
* Ensure project ledger is maintained in accordance with standards of GAAP.
* Analyze and maintain project accounting records.
* Oversee and coordinate monthly billing process to owner.
* Manage approval process and compliance of subcontractor billings.
* Advise on various accounts analysis and reconciliation.
* Manage project closeout process with integrated project management team and make decisions relating to changes and back-charges in the close-out.
* Manage the A/P and A/R functions.
* Set up processes to manage employee expense reports, petty cash accounts, and miscellaneous general expense.
* May perform other duties as assigned_

What Does A Project Accountant Do At Gensler

* Work closely with Project Managers and Studio Directors, establishing successful business relationships and ensuring accurate and consistent billing and financial reporting at the project and studio levels
* Maintain organized project contract files
* Understand contract terms as related to compensation and scope
* Assist Project Managers in performing new project due diligence as specified in the firm’s project start-up and collection procedures
* Document clients' procurement process to ensure efficient delivery of invoices
* Interact with clients (internal and external), consultants, and colleagues in a productive and professional manner
* Review project work plans, budgets, and staffing plans for appropriateness to fee
* Provide accurate invoices to clients per contract terms
* Coordinate consultant invoices and payments per contract terms
* Review project labor and expense charges with Project Managers for accuracy and appropriateness
* Forecast actual vs. budget spending and analyze projects to provide meaningful input to project and office leadership
* Monitor studio accounts receivable and assist Project Managers with collection efforts
* Monitor, analyze, and report on variety of metrics at the studio level to ensure healthy business practices; assert oneself as studio leader for matters related to finance
* Provide training to Project Managers regarding financial maintenance of projects through reporting systems and tools

What Does A Project Accountant Do At Randstad

* Accounts Receivable.
* Monthly preparation of large, complicated invoices to project Owner on GMP type projects.
* Projects may be as small as $1m or as large as $65M
* Responsible for timely submissions with all appropriate back-up (subcontractor invoices, company internal costs, waivers of lien, etc).
* Review of Subcontractor A/P invoices for accuracy and completeness.
* Communication with subcontractors regarding A/P billings and payments.
* Communication with Owners regarding A/R billings and payments.
* Supervision of 2+ assistants

What Does A Project Accountant Do At IMI Critical Engineering

* Control of project budgets (time and materials) for both New Construction and Aftermarket projects, sometimes with individual order values in excess of $1
* m
* Communication and presentation of project budgets to senior management team on a regular frequency
* Work with other departments, including Supply Chain, Engineering, and Manufacturing, to drive innovative solutions for cost reduction and project delivery at best possible margins
* Provide project estimation assistance to the Engineering and Sales departments at the quoting stage and assist in preparation of bidding packages
* Assist the finance department with the compilation and preparation of forecast/budget project costing information on a timely basis
* Work with the Controller to ensure that project costs are fully accounted for on a timely basis
* Provide general project administration support to the Project Management team as required

What Does A Project Accountant Do At Extended Stay America

* Project Accounting
* Prepare monthly reports detailing all Capital Expenditure ($150M - $200M annually) activity for the monthly meetings of the Capital Investment Committee.
* Prepare monthly reports detailing all maintenance Capital Expenditures ($60M - $70M annually) for the monthly meeting of the senior Operations and Facilities department staff.
* Prepare monthly and quarterly reports for the Corporate Accounting department to use in the preparation of various executive reporting packages as well as required governmental filings (10
* Q, 10-K, etc.).
* Prepare monthly reports for the Treasury department to use in the preparation of debt covenant reporting.
* Maintain the relationship with various third party contractors that provide purchasing and project management services to include review and audit of all charges to the company for goods and services pertaining to major renovation projects.
* Ad-hoc analysis of capital expenditures as required.
* Assist the FP&A, Purchasing, and Facilities departments with capital expenditure budgeting and forecasting

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How To Become A Project Accountant

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Project Accountant jobs

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Real Project Accountant Salaries

Job Title Company Location Start Date Salary
Principal Project Accountant McDermott, Inc. Houston, TX Dec 05, 2016 $97,178
Principal Project Accountant McDermott, Inc. Houston, TX Sep 13, 2014 $96,900
Principal Project Accountant McDermott, Inc. Houston, TX Jul 23, 2012 $95,000
Principal Project Accountant McDermott, Inc. Houston, TX Aug 16, 2013 $95,000
Project Accountant Balfour Beatty Infrastructure Inc. Woodbridge, VA Aug 04, 2015 $90,677
Project Accountant M.C. Dean, Inc. Sterling, VA Jan 10, 2016 $89,502
Project Accountant M.C. Dean, Inc. Dulles Town Center, VA Oct 01, 2013 $83,928
Project Accountant M.C. Dean, Inc. Ashburn, VA Oct 17, 2011 $83,054
Project Accountant Lincoln Property Company Commercial, Inc. Arlington, VA Aug 31, 2016 $71,365
Project Accountant III M.C.Dean, Inc. Sterling, VA Jun 28, 2016 $71,365
Project Accountant Cardno Emerging Markets USA, Ltd. Arlington, VA Dec 21, 2015 $70,096
Project Accountant M.C. Dean, Inc. Clearwater, FL Jul 01, 2015 $70,096
Project Accountant M.C. Dean, Inc. Dulles Town Center, VA Oct 01, 2014 $68,910
Project Accountant NCM Demolition and Remediation, LP Brea, CA Sep 02, 2011 $61,817
Project Accountant II M.C.Dean, Inc. TX Jun 22, 2016 $61,797
Project Accountant E2 Consulting Engineers, Inc. Los Angeles, CA Feb 24, 2014 $61,110
Project Accountant NCM Demolition and Remediation, LP Brea, CA Sep 02, 2011 $61,066
Project Accountant E2 Consulting Engineers, Inc. Denver, CO Sep 01, 2013 $61,003
Project Accountant M.C. Dean, Inc. TX Jun 10, 2014 $60,611
Project Accountant M.C. Dean, Inc. Clearwater, FL Aug 25, 2014 $60,611
Accountant-Special Projects Continental Restaurants, Inc. Richardson, TX Sep 10, 2014 $60,611
Project Accountant M.C. Dean, Inc. Fort Worth, TX Jun 10, 2011 $55,432
Project Accountant Signs & Decal Corporation New York, NY Sep 06, 2013 $55,370
Project Accountant Signs & Decal Corporation New York, NY Jul 09, 2016 $55,370
Project Accountant M.C. Dean, Inc. Sterling, VA Aug 11, 2015 $55,286
Project Accountant Green Metro Construction Burlingame, CA Sep 18, 2014 $55,285
Project Accountant Counterpart International Arlington, VA May 15, 2012 $55,000
Project Accountant Arbor E&T, LLC Urban Honolulu, HI Jul 28, 2011 $55,000
Project Accountant EDP Renewables North America, LLC Houston, TX Sep 09, 2015 $55,000 -
$65,000

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Top Skills for A Project Accountant

MonthlyFinancialStatementsSubcontractorInvoicesWeeklyPayrollGeneralLedgerAccountsMonthlyJournalEntriesExternalAuditorsJobCostReportsAccountReconciliationsAssetsPurchaseOrdersProjectManagementAccountsPayablesAIAProjectSetupBankReconciliationsExpenseReportsProjectBudgetsBalanceSheetAccountsRevenueRecognitionConstructionProjects

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Top Project Accountant Skills

  1. Monthly Financial Statements
  2. Subcontractor Invoices
  3. Weekly Payroll
You can check out examples of real life uses of top skills on resumes here:
  • Completed monthly financial statements and management reports using accrual basis.
  • Reviewed incoming subcontractor invoices to ensure policy adherence before submitting to AP for payment.
  • Utilize Timberline software to review the weekly payroll reports for accuracy.
  • Documented business transactions and analyzed information to prepare entries to general ledger accounts.
  • Handle monthly journal entries, accounts and various ledgers.

Top Project Accountant Employers

Project Accountant Videos

A Day in the Life of a Financial Controller at ANZ

Project Accountant, Katarzyna, talks about the Finance and Accounting role at CH2M

Microsoft Dynamics GP - Project Accounting Series - Part 1

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