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Principal Project Accountant (Contract) in New Jersey-Bloomfield, United States

Job Overview:

The PPL Project Accountant will be responsible for managing accounting activities on assigned projects and performing other duties related to accounting for projects with unique contract requirements. Maintains financial information according to terms of contracts, prepares billings and performs revenue recognition on projects.

Key Responsibilities/Accountabilities: 
  • Monthly Responsibilities
  • Responsible for accounting on assigned projects: perform billings, revenue recognition project forecasting and other project responsibilities.  Assist Senior Project Controller with various duties as they are assigned.
  • Review contracts and understand the financial requirements of the parties.
  • Attend Cost Report meetings on selected projects; Interface with Project Managers and Project cost control manager as required.
  • Project related responsibilities -record project journal entries such as warranty/client support, open new projects when they are received, load project budgets into the system, provide Project Managers with requested cost analysis, close projects on the system when they are completed.
  • Prepare and upload project account analysis for multiple business units (approx. 50 accounts)
  • Load prepared analysis to on line document management system in time to achieve establish due dates.
  • Assure quality of account details.  Review and make recommendations as required.
  • Prepare paperwork for bank guarantees and interface with Project Management, Sales, and Treasury groups, as required.
  • Reconcile various financial systems reports to assure the trial balance equals project sub-ledgers.
  • Handle opening and closing of balance sheet accounts in financial system.
  • Monthly Closing Responsibilities
  • Prepare projects for monthly closing process (book intercompany accruals of cost as required, etc.)
  • Prepare and book Project Man-hour accrual for businesses
  • Prepare and book Foreign Exchange changes and bank transactions journal entry
  • Transfer costs from proposals to project expense if required
  • Provide Manager of Financial Business Systems with support during the close (record correction of negative remaining balances on projects, open cost codes, correct a job setup, etc.)
  • Provide variance comments on schedules during close (expense or profit variance and Accounts Receivable comments, new awards received schedule)
  • Provide assistance on the update of the cash forecast and update the forecast for the 13-week cash forecast.
Basic Qualifications: 
  • Bachelors Degree in Accounting or Finance
  • 8 years of work experience, including project/contract accounting (preferred) or cost accounting exposure (considered)
  • Work experience with financial systems including desktop computing products (min. intermediate level)
  • Strong analytical and problem solving skills
  • Strong verbal and written communication skills

Desired/Preferred Qualifications:
  • MBA, related advanced degree and/or CPA are a plus
  • Experience working with JD Edwards and/or Hyperion Financial system is a plus

Company Overview:
 
McDermott is a premier, fully-integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutionsfrom the wellhead to the storage tankto transport and transform oil and gas into the products the world needs today.

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