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Project accountant skills for your resume and career

Q: What is a control account in accounting?

A control account in accounting is an account that has the debit and credit totals of other accounts. Control accounts are used to prepare financial statements. Control accounts can also be referred to as adjustment accounts or controlling accounts.

Q: What is a suspense account in accounting?

A suspense account in accounting is an account related to a company's financial books that take down ambiguous entries that need further evaluation and analysis to select their accurate classification.

Q: What is basis in accounting?

Basis in accounting consists of two main types of bases, this includes cash basis and accrual basis. Cash basis in accounting refers to the recording of finances when funds exchange hands, while accrual basis in accounting refers to when the transaction occurs and whether or not any money has been paid or received.

Q: Why is the accounting cycle important?

The accounting cycle is important because it ensures that all the money coming into and going out of a business is accounted for. This is necessary to keep an up-to-date budget for a business. It also allows a company to see current successes and difficulties in its business method.

Updated January 8, 2025

4 min read

Quoted experts

Dr. Richard Hale,

Dr. Jennifer Thayer

Below we've compiled a list of the most critical project accountant skills. We ranked the top skills for project accountants based on the percentage of resumes they appeared on. For example, 8.0% of project accountant resumes contained reconciliations as a skill. Continue reading to find out what skills a project accountant needs to be successful in the workplace.

15 project accountant skills for your resume and career

1. Reconciliations

Here's how project accountants use reconciliations:

Analyzed general ledger accounts, prepared inter-company reconciliations, generated journal entries and prepared corporate reporting package for month end close.
Maintained general ledgers, managed cash flow, prepared financial statements and bank reconciliations for multiple development and construction projects.

2. Project Management

Here's how project accountants use project management:

Maintained and distributed monthly anticipated cost reports, quarterly general conditions analysis and update change order logs to project management team.
Collaborated with project management and production teams to analyzed cost trends, prepared project estimates, and investigated and reported variances.

3. Contract Terms

Contract terms refer to the rules, conditions, and standards that both parties in a contract agreement have to honor.

Here's how project accountants use contract terms:

Maintain organized project files, understand contract terms as they relate to fee management in both public and private sector projects.
Coordinate with project managers and other stakeholders to ensure agreement on key contract terms and conditions for project setup.

4. Purchase Orders

Here's how project accountants use purchase orders:

Coordinated and expedited the execution of subcontract agreements, change orders, purchase orders, and associated contract related documentation.
Gathered and incorporated data from contracts, purchase orders, and supporting documents for verification of billing data accuracy.

5. Deltek

Deltek, Inc. is a business software and information solutions supplier for government contractors, licensed services firms, and government agencies. They provide enterprise management application software, that maintains a focus on IT, systems integration, management consulting, construction architecture, engineering, and government contracting markets.

Here's how project accountants use deltek:

Reduced installation and training costs as active participant in setting up DELTEK VISION.
Recorded financial information and monitored finances of U.S. government-funded projects using Deltek accounting software.

6. Revenue Recognition

Revenue recognition is a generally accepted accounting principle (GAAP) that recognizes specific circumstances in which profit is recognized and determines how to account for it. Revenue is recognized when a significant event has happened, and the dollar amount is easily measurable to the company.

Here's how project accountants use revenue recognition:

Reviewed project cost estimates and revenue estimates, and assisted in preparation of percent complete calculations to ensure proper revenue recognition.
Maintained ledger integrity with direct responsibility for reviewing costs, tracking budgets and identifying ways to optimize revenue recognition.

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7. GAAP

Here's how project accountants use gaap:

Prepared and analyzed financial statements following GAAP, participated in annual budget preparation, researched performance issues or unreasonable discrepancies.
Reviewed and analyzed capital expenditure to ensure conformity with GAAP and Fixed Assets policy.

8. Project Cost

Project cost is the overall cost for planning, developing, executing, managing, and completing a project. Project cost needs to be estimated and projected in the project planning phase. Cost management strategy includes estimating project requirements, scheduling, budget allocation, and project design.

Here's how project accountants use project cost:

Project Reconciliation Management: Developed new processes for reconciling project costs in new Concur reconciliation program.
Negotiated better overhead rates with consultants by calculating project costs with benefit analysis.

9. Accruals

Here's how project accountants use accruals:

Performed month-end close that included reviewing accounts and posting prepaid asset amortization, month-end accruals and insurance liability journal entries.
Completed detailed and accurate month end accruals and explained any billing transactions to Accounting Management.

10. Account Reconciliations

Here's how project accountants use account reconciliations:

General Ledger account reconciliations and analysis of contractor Pay Estimates.
Facilitated month-end close processes, invoicing, journal entries and account reconciliations and budget variance analysis.

11. Construction Projects

A construction project is an organized process of constructing, redeveloping, renovating, or otherwise improving a building, or structure. The project phase begins usually as a broad criterion that is then made with the help of a brief, feasibility analysis, funding, and planning. The majority of construction projects are one-time jobs.

Here's how project accountants use construction projects:

Prepared, reviewed and analyzed all transactions related to specific construction projects, prepared and coordinated weekly payroll processing.
Compiled and delivered financial reporting and processed account reconciliation's for manufacturing, engineering and construction projects.

12. Subcontractor Invoices

Here's how project accountants use subcontractor invoices:

Reviewed incoming subcontractor invoices to ensure policy adherence before submitting to AP for payment.
Validated submission of subcontractor invoices with preparation and modification.

13. Sage

Here's how project accountants use sage:

Track and record fixed asset additions/disposals and maintain up-to-date depreciation schedules using Sage Fixed Assets.
Account allocation, reconciliation and reclassification using Sage 300 ERP

14. Strong Analytical

Here's how project accountants use strong analytical:

Utilize strong analytical and critical thinking skills to reconcile and close out capital projects.
Assist in the execution of a due diligence engagement Strong analytical and critical thinking skills

15. Financial Data

Here's how project accountants use financial data:

Analyzed, examined and interpreted account records, compiled financial information and reconciled reports and financial data.
Entered and analyzed project budgets, funding requirements, and commitments into department financial database.

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What skills help Project Accountants find jobs?

Tell us what job you are looking for, we’ll show you what skills employers want.

What skills stand out on project accountant resumes?

Dr. Richard Hale

Associate Professor of Accounting, Berea College

When we meet with practitioners, the most commonly requested skills are:
-The ability to think critically about situations
-Good communications skills in writing
-The ability to speak in public and present ideas
-Working well with others
-The ability to work independently

Notice that these skills are not dependent upon any particular technology or discipline.
An advantage we have at Berea College, a liberal arts college, is that we incorporate these foundational skills into all we do.
Indeed, we also have our students master working with spreadsheets, develop skills in data analytics, and study all aspects of the business from Management, Economics, Finance, and Marketing.
As accounting is the business language, our students have more excellent business knowledge than other studies.

A key distinction for Berea College students is that all students must work for the college while they attend.
These jobs may vary from raising livestock to working in Accounts Payable. But all Berea graduates have years of practical work experience.
A core component of a Berea College education is to value the labor experience. We believe they enter the post-collegiate workforce with a significant advantage over their peers.

What soft skills should all project accountants possess?

Dr. Jennifer Thayer

Assistant Professor of Accounting, Socrates Award for Excellence in Teaching Recipient, Clarksville Chamber of Commerce APSU Distinguished Faculty Award for Community Service Recipient, Accounting Society at Austin Peay Advisor, Austin Peay State University

From speaking with employers in the industry, the number one soft skill seems to be written and spoken communication. Many current students need to hone their written communication skills to avoid "text speak" when communicating with potential employers and/or clients. Other important soft skills include problem-solving, collaboration, adaptability, and willingness to deal with failure and/or criticism. Especially in the world of COVID and ever-changing work environments, the importance of adaptability and problem-solving have only been highlighted. Since most work environments involve people working in teams, effectively collaborating with others and accepting criticism are vital skills.

What hard/technical skills are most important for project accountants?

Dr. Jennifer Thayer

In addition to general accounting knowledge, critical thinking, data analytics, and advanced Microsoft Excel abilities are some of the most important skills. Clearly, having a solid foundation in general accounting knowledge is necessary to be a candidate for a job in the accounting field. However, possessing the ability to critically think and analyze data and use Microsoft Excel beyond the basics, such as pivot tables, will only improve a candidate's chances.

What project accountant skills would you recommend for someone trying to advance their career?

Stephen Moehrle Ph.D.

Professor and Chairman of Accounting, University of Missouri - St. Louis

In the spirit of continuing education I would recommend the following: First and foremost, successfully complete the cpa exam. This is a huge difference-maker in the marketplace. If the young professional has already accomplished that, I would consider developing expertise consistent with their long-term career goals. Potential areas of expertise include data analytics, information systems controls and security, taxation, SEC reporting, or management accounting. There are certificate programs in each of these skills at universities across the country. The internet is also replete with free or relatively inexpensive materials for self-starters.

What type of skills will young project accountants need?

Delvin Grant

Associate Professor, DePaul University

The ability to problem solve, which requires an understanding of the problem and a structured approach towards the solution. The ability to apply concepts learned in one discipline to another. Quite often, students are unable to see how a concept translates from one domain to another, and this stifles innovation.

Do you want to know more?

List of project accountant skills to add to your resume

The most important skills for a project accountant resume and required skills for a project accountant to have include:

Reconciliations
Project Management
Contract Terms
Purchase Orders
Deltek
Revenue Recognition
GAAP
Project Cost
Accruals
Account Reconciliations
Construction Projects
Subcontractor Invoices
Sage
Strong Analytical
Financial Data
Client Invoices
Cash Flow

WIP
External Auditors
ERP
Financial Analysis
Project Budget
General Ledger Accounts
AIA
Variance Analysis
Cash Management
Balance Sheet Accounts
Expense Reports
Client Billing
Deltek Costpoint
Internal Controls
Bonds
Cash Receipts
Timberline

Bank Reconciliations
Fixed Assets
Project Profitability
Vendor Invoices
Work Breakdown Structure
SOX
Cost Analysis
Accounts Payables
Taxation
Ledgers
Project Accounts
Cost Accounting Standards
Tax Returns
DCAA
HR

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Project Accountant skills FAQs

What is a control account in accounting?

What is a suspense account in accounting?

What is basis in accounting?

Why is the accounting cycle important?

Have more questions? See all answers to common business and financial questions.

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Updated January 8, 2025

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