Project Cost Accountant

Position Summary
The Project Cost Accountant supports the financial and cost-control activities of the Project by ensuring project costs are accurately recorded, classified, reconciled, analyzed, and reported. Reporting to the Project Cost Controls Manager, this position works closely with Project Controls, Finance, Contracts and Procurement, Engineering, Construction, and project management to maintain accurate and timely visibility into project expenditures, commitments, accruals, forecasts, and overall cost performance.
The position serves as an important link between accounting records and the project cost-control system, helping ensure financial transactions are properly aligned with the Project's cost breakdown structure (CBS), work breakdown structure (WBS), contracts, purchase orders, and approved budgets.

Key Responsibilities
Project Cost Accounting & Controls

• Maintain accurate project cost records and ensure expenditures are appropriately coded to the applicable project, cost account, WBS/CBS element, contract, purchase order, and general ledger account.
• Review project invoices, expense transactions, and other costs for appropriate coding, supporting documentation, contractual alignment, and financial accuracy.
• Reconcile project cost-control records to the general ledger and investigate and resolve discrepancies.
• Assist in maintaining alignment between the accounting system and project cost-control systems.
• Monitor actual project expenditures against approved budgets, forecasts, commitments, and funding.
• Identify incorrect cost allocations, coding issues, duplicate charges, or other financial discrepancies and coordinate timely corrections.

Accruals, Commitments & Forecasting

• Prepare and maintain monthly project accruals for goods and services received but not yet invoiced.
• Work with Project Controls, contract owners, and project managers to validate accruals and outstanding financial obligations.
• Monitor purchase orders, contracts, commitments, invoices, and remaining contract values to support accurate cost forecasting.
• Assist with monthly Estimate at Completion (EAC), Estimate to Complete (ETC), cash-flow forecasting, and project cost reporting.
• Support the identification and reconciliation of committed, incurred, invoiced, accrued, and paid project costs.
• Assist with the financial evaluation and tracking of contract changes, purchase order changes, and approved change orders.

Invoice & Contract Cost Review

• Support the review of contractor and vendor invoices for compliance with contract terms, approved rates, purchase orders, and supporting documentation.
• Coordinate with Contracts and Procurement and project personnel to resolve invoice discrepancies and cost-related questions.
• Track invoice status and assist in identifying outstanding or delayed invoices that could impact project accruals and forecasts.
• Assist with reconciliation and financial closeout of completed contracts and purchase orders.

Financial Reporting & Analysis

• Support monthly project cost reporting and financial close activities.
• Prepare reconciliations, variance analyses, cost summaries, and other financial reports for the Project Cost Controls Manager and project leadership.
• Analyze actual costs against budget and forecast and assist in identifying significant trends and variances.
• Provide supporting financial information for project management reports, forecasts, management reviews, and other project reporting requirements.
• Maintain supporting documentation and audit trails for project financial transactions and cost adjustments.

Compliance & Audit Support

• Ensure project financial transactions comply with Company accounting policies, internal controls, contractual requirements, and applicable accounting standards.
• Maintain complete and organized financial documentation to support internal and external audits.
• Assist with audit requests, project reviews, reconciliations, and financial inquiries.
• Support continuous improvement of project accounting, cost-control, and reporting processes.
• Help ensure consistency in cost coding and financial practices across project contractors, work packages, and functional areas.

Qualifications
Education

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field required.
• CPA, CMA, or other relevant professional certification is preferred but not required.

Experience

• Minimum of 5 years of progressively responsible accounting, project accounting, or project cost-control experience.
• Experience supporting large capital projects, engineering and construction projects, mining, oil and gas, infrastructure, or other major industrial projects strongly preferred.
• Experience working with contracts, purchase orders, commitments, accruals, forecasts, and project cost reporting.
• Experience reconciling project cost-control systems to general ledger accounting records.
• Experience working in a multi-contractor or EPC/EPCM project environment is preferred.

Knowledge, Skills & Abilities

• Strong understanding of accounting principles and project cost-accounting practices.
• Working knowledge of project cost controls, budgeting, forecasting, commitments, accruals, and variance analysis.
• Ability to understand and work with WBS/CBS structures and project cost codes.
• Strong analytical skills with the ability to identify inconsistencies and investigate financial discrepancies.
• Advanced proficiency in Microsoft Excel.
• Experience with ERP, accounting, and project cost-control systems.
• Strong attention to detail while maintaining an understanding of overall project financial performance.
• Ability to manage multiple priorities and meet monthly reporting and close deadlines.
• Strong written and verbal communication skills.
• Ability to work collaboratively across Finance, Project Controls, Procurement, Engineering, Construction, and contractor organizations.
• Demonstrated ability to handle confidential and financially sensitive information appropriately.

With over 90 years' combined experience, NES Fircroft (NES) is proud to be the world's leading engineering staffing provider spanning the Oil & Gas, Power & Renewables, Chemicals, Construction & Infrastructure, Life Sciences, Mining and Manufacturing sectors worldwide. With more than 80 offices in 45 countries, we are able to provide our clients with the engineering and technical expertise they need, wherever and whenever it is needed. We offer contractors far more than a traditional recruitment service, supporting with everything from securing visas and work permits, to providing market-leading benefits packages and accommodation, ensuring they are safely and compliantly able to support our clients.