Project Accountant


Overview / Responsibilities

Wood has an immediate need for a Project Accountant to join our expanding team based in Perth, Western Australia. This role is primarily responsible for Accounting for projects which will include lump sum and reimbursable contracts, both long and short term with a focus on ensuring the company conforms to accounting principles and business processes.

This key role works closely with wider Wood team and internally includes interface with Finance Management, Project Managers / Engineers, Project Controllers and Billing Specialists to obtain produce individual project financials, project analysis and project forecasts. Interfacing with Auditors will be an external requirement.

Previous Vision/Oracle experience is preferred (but not a must for this role), however expertise in these software platforms is highly regarded.

At this time, we will only consider applications from Australian citizens or those with the required permit / VISA for this region in place.

Project Responsibilities

  • Understand the financial information contained within the commercial agreements, agreed rates and required approvals
  • Provide project accounting assistance at kick off meetings and monthly project review meetings
  • Work with Project Controls to ensure each project is set up to capture the structure correctly i.e. in Lump sum contracts, Revenue recognition points, Billing milestones
  • Review Project costs in the month and make necessary accruals for missing costs
  • Review Variation Orders (VO’s) and potential VO’s confirming the accounting with regards to their status / probability of being awarded by the client
  • Ensure we are meeting the conditions for revenue recognition and billing milestones and ensuring we are accounting for the Revenue milestones vs cash milestones appropriately
  • Account for the Impact of FX on each of the projects. For all non-functional currency projects on – understanding what is the cost to the business and improve our hedging activities
  • Maintain visibility over all costs incurred; pass through costs, and, passing them through timely
  • Maintain Visibility over amounts Unbilled and work with Billing specialists to get invoices out timely
  • Accounting for costs that have not yet been received on the project (maintaining margins) in accordance with the project CTR / Activities
  • Margin analysis, Cost rate vs Sell rate explaining mix and volume variance
  • Accounting from a full project forecast to the end of the job compared to “As Sold”
  • Contingency analysis – Understanding what we have to work with in the project and accounting for contingency when releases or increases are due
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Reporting Responsibilities

  • Project reporting within established internal and agreed client procedures
  • Provide variance analysis showing “As Sold / Original” P / L verses “Actual / Current” P/L
  • Maintaining Cash Flow implications on the wider business, especially on large projects
  • Maintaining clear visibility of the project balance sheet
  • Reconciliation and financial management of Work in Progress (WIP), sales, unbilled / accrued
  • Reconcile the Job cost ledger to the General Ledger
  • Reporting Backlog, Backlog burn and replenishment and Lump sum profit restrictions

Skills / Qualifications

  • Tertiary Degree in Accounting and CPA /CA qualified, with 3 – 5 years post qualification experience
  • Strong demonstrable Oracle software skills
  • Strong Excel (advanced) experience
  • Demonstrated Financial Accounting experience in a similar role
  • Professional attitude with effective interpersonal skills
  • Be a team player and committed to business improvement, with the ability to work autonomously
  • Ability to work under pressure, be resilient and work to deadlines with strong attention to detail

Company Overview

Wood is a global leader in engineering and consultancy across energy and the built environment, helping to unlock solutions to some of the world’s most critical challenges. We provide consulting, projects and operations solutions in more than 60 countries, employing around 45,000 people.

Diversity Statement

We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.

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  • Seniority level

    Not Applicable

  • Employment type


  • Job function

    Production, Manufacturing, and Engineering

  • Industries

    Outsourcing/Offshoring, Oil & Energy, and Maritime


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