Project Accountant

Remarkable people, trusted by clients to design and advance the world. 

Wood is recruiting for a Project Accountant to join our team based in Kuala Lumpur, Malaysia. This position supporting the Consulting Business Unit focuses on 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.   #LI-Hybrid 

The Role 

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.    

Our Clients and Projects  

Designing the future. Transforming the world. 

Our global specialist consultancy business encompasses 3,300+ professionals with industry-leading expertise in areas including decarbonisation, hydrogen, carbon capture and storage, renewables advisory, asset optimisation, and digital solutions. 

 A multi-sector business unit, we are focused on providing technical consulting during the planning, design, building, operation and optimisation of assets, facilities, and infrastructure across a range of end markets including energy, industrial, power, mining, and life sciences. 

What we can offer 

• Meaningful and interesting projects delivered to leaders of industry across renewables and emerging energy sectors  

• Flexible working arrangements that balance client, team and individual needs offering hybrid and remote working where relevant  

• Commitment to Diversity and Inclusion; we are an organisation actively committed to diversity and inclusion across our business with employee networks committed to giving all employees a voice 

• Competitive salary with regular salary reviews to ensure we are rewarding at the right level in line with the market 

• Commitment to continued professional development; development plans that are tailored to your individual needs and interests 

• Global connections; join experts around the world who are at the leading edge of our industry, shaping the standards of our profession 

Typical Responsibilities  

• 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  

• Partnering with Operational leaders to support budgeting, forecasting and commercial decision-making 

• Review Project costs in the month and make necessary accruals for missing costs  

• Record revenue accruals against projects for Lumpsum contracts  

• 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  

• 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 Reporting  

• Assist with external audits and tax compliance requirements 

• Project reporting within established internal and agreed client procedures  

• Provide variance analysis showing “As Sold / Original” P / L verses “Actual / Current” P/L  

• Reconciliation and financial management of Work in Progress (WIP), sales, unbilled / accrued 

• Reporting Backlog, Backlog burn and replenishment and Lump sum profit restrictions    

What makes you remarkable? 

At Wood, we are committed to equal opportunities and welcome all talented individuals to consider joining our team. So even if you don't match every statement below but feel you have some of the experience, knowledge or skills needed for this role, we encourage you to apply. It will take all of us working together to deliver solutions to the world’s most critical challenges.