Financial Accountant

at  BGE

Sydney NSW 2000, New South Wales, Australia -

Start DateExpiry DateSalaryPosted OnExperienceSkillsTelecommuteSponsor Visa
Immediate30 Oct, 2024Not Specified30 Jul, 20243 year(s) or aboveInterpersonal Skills,Designation,Completion,Project Accounting,Financial Reporting,FinanceNoNo
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Description:

Job no: TKYKN
The BG&E Finance team is looking for a Financial Accountant to support Project Managers and the Group Finance Manager in overseeing the financial transactions of projects to deliver accuracy in financial and management reporting.

Responsibilities:

The Financial Accountant is responsible for overseeing the quality and accuracy of financial transactions of projects to deliver accuracy in financial reporting, ensure clients are billed in a timely manner, and trends are acted upon. Your role includes overseeing revenue recognition, monitoring financial performance, reviewing Work-in-Progress (WIP) and debtor aging, and collaborating with project managers to track and improve financial outcomes. You will prepare detailed financial reports, identify variances, and implement process improvements to enhance project financial controls.
Naturally inquisitive, you will be driven by a passion for ensuring the accuracy of revenue and the balance sheet, with the ability to accurately apply Accounting Standards. You will excel a quickly identifying and escalating issues to improve the overall accuracy and reliability of outputs. We are looking for someone who is highly motivated by numbers and precision, taking pride in thorough and accurate work.
Key Accountabilities
The Financial Accountant will ensure that the specified goals and objectives for projects across the business are achieved accurately and within the designated timeframe.

1.Revenue Recognition:

  • Identify and investigate projects where revenue recognised in project to date, year to date or within a month is abnormal.
  • Ensure compliance with revenue recognition policies, procedures, and accounting standards within the management and financial reports.
  • Identification and financial analysis of potential onerous contracts.

2.Financial Oversight:

  • Monitor project budgets and forecasts, ensuring accurate and timely financial reporting and proactive identification of poorly or unusually performing projects.
  • Review of Project Monthly Status Reports investigating further any anomalies and ensuring Senior Finance Team members are aware.
  • Assist with the development of cash flow analysis, and revenue and cost projections.

3.Balance Sheet:

  • Monitor and investigate as required the WIP and Debtor balances ensuring balances are recognised in accordance with accounting standards including recoverability and revenue recognition explaining any unusual items or anomalies.
  • Initiate and manage the WIP and bad debt write off processes.
  • Review the expected credit losses (“ECL”) rates and the ECL calculations.

4.Reporting and Analysis:

  • Work with the Commercial analyst and wider Finance Team to provide meaningful commentary on WIP, debtor balances, and project contribution margins on a monthly basis.
  • Conduct detailed financial analysis to support decision-making and strategic planning.
  • Prepare revenue and debtors related disclosures for both the Australian and International entities to ensure the respective statutory financial statements comply with relevant accounting standards.

5.Process Improvement:

  • Identify potential risks based on outcomes of investigations and work with the wider Finance team to mitigate.
  • Identify and assist with the implementation of process improvements to enhance financial controls and project efficiency, including:
  • Invoice preparation & following up on debtors.
  • End of Month Project Reviews and Report Preparation.
  • Tracking of project variations.
  • Timesheet approvals and time reporting.
  • Subcontractor invoice processing.


REQUIREMENT SUMMARY

Min:3.0Max:5.0 year(s)

Financial Services

Accounts / Finance / Tax / CS / Audit

Accounts Management

Graduate

Accounting or finance

Proficient

1

Sydney NSW 2000, Australia