Project Accountant
Tipp Focus
- Pretoria, Gauteng
- Permanent
- Full-time
- Match project sales and cost of sales on a monthly basis for the Division.
- Generate sales and cost of sales report to provide the list of all the invoices generated and cost of sales per current project.
- Analyse the data for correctness and completeness.
- Raise revenue recognition journals per project in according to the accepted accounting standard.
- Submit journals for approval by the Divisional Financial Manager.
- Update the month end reports, check information to ensure that project costs remain within budget.
- Identify discrepancies and provide reasons for variances as part of the monthly management report.
- Forecast project cost to completion:
- Develop and submit a Cost to Completion standard template to Project Manager together with guidelines to determine labour and material cost.
- Project hours until project completion in terms of.
- Labour rates
- Material cost
- Direct Project Cost
- Calculate the total cost per project for a bin-annual review according to the required format.
- Arrange review meetings with relevant members of the Divisional Commercial Business Unit to review cost to completion and feedback on the financial status of projects.
- Action approved resolutions made by the Divisional Committee: i.e. provision adjustments for possible project overruns or revenue adjustments.
- Prepare financial statements. (monthly)
- Extract an income statement report in the standard format and analyse data for completeness and correctness before distributing to the relevant Divisional Executive Managers.
- Provide financial information to reflect actual sales vs. cost of sales to the relevant Project Manager for reporting and auditing purposes; e.g. Sales & Operational Performance meeting.
- Prepare a Net profit analysis on new proposals:
- Issues a Net profit analysis standard template to the allocated Project Manager together with guidelines to determine labour and material cost
- Project hours until project completion
- Labour rates
- Material cost
- Direct Project Cost
- Calculate the net profit analysis for relevant projects according to the required format and establish feasibilities based on the analysis.
- Represent Finance and participate at the Steering Committee chaired by The Commercial Business Unit and present net profit analysis.
- Follow process as approved as per the project checklist owned by the Commercial Business Unit.
- Establish, maintain and coordinate the implementation of accounting and accounting control procedures within area of responsibility.
- Maintain and manage the application of policies and procedures including the delegation of authority.
- Verify the input of financial data and reports for the Division's automated financial systems.
- Interact with internal and external auditors in completing the required audit process within area of responsibility.
- Revalue foreign exchange contracts on a monthly basis according to the approved rates
- Generate monthly cost centre management reports to reflect budget vs actual.
- Ensure all reports are in accordance with clients policies and procedures and PFMA requirements within the required timelines.
- Conduct workshops and/or training for Divisional Exco as required for Project Accounting related issues.
- Review and report any adverse deviations from budget per business unit to the Divisional Finance Manager.
- Assist Cost Centre Managers with queries and make recommendations for potential cost savings.
- Prepare and distribute income statement per Business unit.
- Participate in the performance management process.
- Participate in staff meetings as and when required to discuss operational performance and business issues.
- Live the client Values and demonstrate behaviour that is consistent with the culture of the company
- Assist in compiling of the sales, Opex and capex budgets.
- Liaise with Operational and Project Managers to obtain input into the budgets in accordance to the overall budget guidelines.
- Analyse input received and identify abnormal items or discrepancies and resolve before submitting to the Divisional Finance Manager for incorporation into overall budget.
- Continuously to reduce cost.
- Ensure best practice and adherence to all statutory, financial and other legislative regulations and strengthens awareness.
- Performs allocated accounting functions from journals, net profit analysis, Financial control and contributes to monthly reporting.