Project Accountant

JOB PURPOSE

Support the financial management of EPC/EPCM projects across Singapore and other countries, including total tool installation, base build and engineering/construction services. Partner with Project Managers, Commercial, Procurement and Finance to monitor project costs, revenue, billing, forecasts, profitability and cash flow.

DUTIES & RESPONSIBILITIES
1. Project Setup & Financial Control Structure

• Establish and maintain project financial baselines, including contract value, approved budget, WBS, work packages and cost codes.

• Ensure accurate recording of project costs and maintain reliable project financial data in the ERP/project costing system.

• Confirm project billing structure, applicable currencies, tax assumptions and reporting requirements at mobilisation.

2. Commitments & Forecasting

• Monitor actual costs, purchase orders, subcontract commitments and other committed or forecast expenditure.

• Work with Project Managers to prepare and challenge monthly ETC and EAC forecasts, reflecting accruals, variations, project risks and remaining work.

• Track contingency utilisation and flag forecast overruns or potential margin deterioration promptly.

3. Project Revenue, Billing & WIP

• Review contract billing terms, milestones and supporting progress certifications with Project Managers and Commercial.

• Coordinate accurate, timely billing and monitor WIP, unbilled revenue, accrued income and outstanding invoices.

• Support project revenue recognition in accordance with applicable accounting policies.

4. Variation Orders & Change Control

• Track submitted, pending and approved variation/change orders, claims and extensions of time (EOT).

• Assess related costs, revenue, margin exposure and unrecovered work; escalate material unapproved changes.

• Ensure approved variations are reflected in project budgets, billing and forecasts.

5. Project P&L & Margin Reporting

• Prepare monthly project P&L, budget-versus-actual and forecast-versus-budget analysis.

• Maintain a concise project dashboard showing contract value, variations, actual and committed costs, ETC/EAC, revenue, margin, WIP, receivables and cash flow.

• Highlight significant variances, margin erosion, cost overruns and other financial risks, with recommended actions.

6. Project Cash Flow & Working Capital

• Prepare project cash flow forecasts and monitor expected customer receipts and major supplier/subcontractor payments.

• Track overdue receivables, retentions and outstanding certifications; coordinate collection follow-up with relevant teams.

• Identify working-capital or funding risks and, where applicable, support multi-currency and intercompany project transactions.

7. Month-End & Project Review

• Prepare project accruals and closing entries, ensuring costs and revenue are recognised in the correct reporting period.

• Reconcile project progress, commitments, cost forecasts and billing with Project Managers, Commercial and Procurement.

• Participate in monthly project reviews and provide clear financial findings and practical recommendations.

8. Controls, Audit & Project Close-Out

• Ensure project transactions comply with Group policies, delegation of authority (DOA), internal controls and documentation requirements.

• Support internal and external audits by maintaining complete supporting records and audit trails.

• Complete project financial close-out, including reconciliation of open purchase orders, subcontract final accounts, retention, variations, final billing, receivables, costs and final margin.

Minimum Qualification
• Degree in Accountancy, Finance or equivalent qualification.
• Professional qualifications such as ACCA, CIMA or Chartered Accountant (CA) are preferred but not mandatory.

Relevant Experience

• Minimum 5 years of relevant finance or project accounting experience, including hands-on experience in an EPC, EPCM, engineering or construction project environment (mandatory).

• Proven experience in project costing, budgeting, forecasting, financial controls and project reporting.

• Experience in semiconductor, high-tech facilities, tool installation, base build, cleanroom, pharmaceutical, life sciences or similar engineering projects will be an advantage.

• Experience supporting projects across different countries and currencies will be an advantage.

Technical Skills & Systems

• Project accounting and cost control, including project budgets, WBS and cost coding.

• Budget-versus-actual analysis, commitments, subcontractor costs and project accruals.

• Project revenue recognition, billing, WIP, unbilled revenue and variation orders.

• ETC/EAC forecasts, project margin analysis, cash flow and working capital.

• Strong Excel and financial reporting skills; experience with IFS, SAP or equivalent project-based ERP systems is preferred.