A project accountant is responsible for managing all the financial information related to a project or projects at their company. They keep track of each project's expenses and provides regular reports on whether the project is over or under budget. Individuals in this position may also be responsible for drawing up proposals for possible projects and informing managers how much a project could potentially cost and/or earn.
Project accountants typically work indoors in an office setting, but may spend time outdoors at various job sites. Their work is largely mental and requires very little, if any, physical labor. Project accountants typically work during regular business hours, though special projects near completion may require longer hours on nights or weekends. Project accountants work with a variety of colleagues within their own company and outside it. They may obtain information from project managers, call suppliers for pricing and billing concerns, and give instructions to team members to keep projects within budget. Good oral and written communication skills are essential for any project accountant candidate.
Many types of company employ project accountants, from construction companies to engineering firms. An accounting background is needed in this profession, and a bachelor's degree in accounting is strongly recommended. Some employers may require a higher degree, such as a master's of business administration (MBA). Proficiency with accounting software such as Microsoft Excel is required.
Project Accountant Tasks
Analyze and report on financial project administration; profitability, utilization, budgets, and accruals.
Ensure compliance with state and federal regulations.
Generate and interpret financial records and statements for management.
Collaborate with project management team.