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EOI - Senior Accountant

Employer
Wood
Location
Danestone, Aberdeen, United Kingdom
Salary
Competitive Salary
Closing date
Apr 28, 2021

View more

Job Role
Accountant
Sector
Finance
Contract Type
Permanent
Hours
Full Time

The Senior Accountant will be responsible for effectively managing all aspects of contract finance ensuring all accounting activities are undertaken in a timely and accurate manner for the contract covering invoicing, month end close, budget/forecasting, internal reporting of monthly financials and completion of profit & loss / balance sheet reconciliations.

KEY ACCOUNTABILITIES

Review and analysis of costs coded to contract within the accounting system to ensure charges are correct and adjust as applicable
Undertake manhour reconciliations between systems to ensure all hours have been captured for invoicing and costing purposes
Ensure invoices are prepared in a timely and accurate manner in line with contract terms and conditions and agreed invoice timetable
Preparation of annual budget, quarterly and monthly forecast for contract in conjunction with Contract Manager in line with Wood reporting calendar
Preparation of monthly accounts for contract covering reimbursable labour, recovered in rate costs, lump sums, procurement, plant & equipment, plus other reimbursable and non-reimbursable items.
Directly responsible for contract month end close activities in Oracle system to ensure results are accurately reported and analysed.
Main activities include calculation of accruals, unbilled and unearned entries as required in compliance with Wood corporate deadlines, technical accounting standards, and in accordance with company procedures for reconciliations and balance sheet controls.
Completion of monthly financial report comprising detailed
Profit and loss comparison of actuals against budget/forecast capturing clear and concise operational commentary for variances
Balance sheet analysis focusing on unbilled, unearned, accounts receivable, and cost accruals or deferrals, explaining the nature and age of balance and movement from prior month, plus resolution plan for clearance of aged items
Rolling forecast for year, and reasons for change from prior forecast
Days Sales Outstanding
Upsides / downsides to results and likelihood of items being realised
Any other detailed analysis that may be relevant to the contract
Reporting of monthly results to contract manager to ensure visibility of actual performance and any actions required in specific areas.
Active management of cash to ensure payment is received from client in line with payment terms, optimisation of Days Sales Outstanding and minimisation of unbilled items
Ensure all finance reconciliations are prepared, analysed and reviewed on a monthly basis to establish over/under-recoveries and enable any corrective actions to be taken in a timely manner
Knowledge of contract commercials to understand rate build-ups and recovery of costs to ensure maximisation cash position
Responsible for identifying and highlighting opportunities for continuous improvement within the contract and sharing of best practice within the function
Responsible for maintaining contract delegation of authority matrix in line with any personnel changes on the contract
Ensure compliance with accounting, credit risk and code of conduct policies
Ensure all contracts process and procedures used on contracts are fully documented
Liaising with external, internal and client auditors
Effective supervision and management of the accounting team, with a focus on people development
Execution of various ad hoc tasks as and when requested

Skills / Qualifications

Minimum Qualifications
Recognised accounting qualification or part qualified and actively studying towards professional qualification (ACCA / CIMA etc).
Minimum Experience
Extensive accounting experience
Proficient user of Excel
People supervision skills
Good commercial knowledge
Competent at using ERP/ forecasting systems
Job-Specific Skills
Oil and gas experience preferred

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