Cost Accountant
- Hiring from
- Philippines
- Work type
- Hybrid
- Posted
608,929 remote jobs, straight from company career pages
100% free · New jobs every minute
Show job descriptionHide job description
Morning Shift - AU Client
Hybrid Work Set-up
Day 1 HMO
POSITION SUMMARY:
Provide accurate and timely visibility of project costs, commitments, productivity and forecast outcomes. Work with project managers and Finance to maintain reliable budgets and cost-to-complete forecasts, identify financial risks early and support action to protect project margins and cash flow.
KEY RESPONSIBILITIES:
1. Project budgets and cost structures
- Translate approved estimates and project handovers into control budgets, work breakdown structures and cost codes aligned with project scope and reporting requirements.
- Maintain approved budget baselines and records of authorised transfers, variations and forecast changes, preserving visibility against the original budget.
- Validate labour, materials, subcontract, plant, freight, mobilisation and site overhead allowances with Estimating, Procurement and project teams.
2. Cost monitoring and financial control
- Review actual costs and open commitments against budget by project, work package and cost category. Investigate coding errors, missing costs, duplicate charges and unexpected movements.
- Reconcile purchase orders, subcontract commitments and goods or services received with Finance and Procurement. Identify required accruals and prevent double counting.
- Monitor labour hours, overtime, labour rates, installation productivity, plant utilisation and material consumption. Explain the financial impact of variances.
3. Forecasting and margin management
- Coordinate regular forecast reviews with project managers. Use progress, remaining quantities, labour hours, procurement commitments and delivery schedules to assess the estimate to complete.
- Prepare estimates at completion, forecast gross margins and variance commentary. Reconcile movements from the previous forecast and distinguish approved budget changes from cost overruns.
- Challenge unsupported assumptions, overstated progress and incomplete remaining costs. Escalate margin deterioration, forecast losses and contingency usage promptly.
- Maintain forecast assumptions, risks, opportunities and corrective actions, with clear owners and due dates. Track actions through to resolution.
4. Variations and commercial support
- Track the cost and forecast impact of scope changes, delays, rework and variations, distinguishing approved, submitted and potential changes.
- Provide cost records for variation pricing, extension of time claims and commercial negotiations, working with project managers and Commercial.
- Reflect variation costs and recoverability risks transparently in forecasts. Refer revenue recognition decisions to Finance under the approved accounting policy.
5. Month end and project reporting
- Deliver project cost reports, commitment reports, forecast summaries and exception commentary to the agreed weekly and month-end timetable.
- Provide Finance with reconciled project data, accrual recommendations and supporting work in progress (WIP) schedules. Assist with assessments of progress, forecast margins, unbilled amounts and project loss exposures.
- Reconcile project reports to the general ledger with project accountants and retain evidence supporting adjustments and forecast movements.
- Present concise findings to project managers, PMO and Finance, identifying the issue, financial impact, required decision, action owner and due date.
6. Cash flow and continuous improvement
- Provide procurement, subcontract and remaining-cost forecasts for project cash flow planning. Flag timing pressures, retentions and significant upcoming commitments.
- Support project close-out by identifying outstanding costs, open orders, unresolved variations and final forecast adjustments.
- Improve cost coding, reporting templates and forecasting processes. Coach project teams in consistent cost control practices.
QUALIFICATIONS AND EXPERIENCE:
Essential
- Relevant qualification in accounting, finance, engineering, quantity surveying or project controls, or equivalent practical experience.
- Demonstrated cost control experience in construction, electrical, industrial, engineering or another project-based contracting environment, typically three or more years.
- Practical experience with project budgets, cost coding, commitments, accruals, labour productivity and estimates to complete.
- Strong Excel skills, including lookup functions, pivot tables and analysis of large datasets, plus experience using an ERP or job costing system.
- Ability to interpret estimates, purchase orders, subcontract arrangements and project progress information, and communicate financial issues clearly in written and spoken English.
- Experience across multiple projects or entities, including Pacific operations, foreign currency costs or switchboard manufacturing.
- Experience with Power BI or comparable reporting tools and integrating cost information with project schedules.
