We are seeking a detail-oriented and experienced Project Accountant to oversee revenue recognition, financial reporting, budgeting, and audit coordination for a specific real estate project. The role ensures compliance with Philippine Financial Reporting Standards and applicable regulatory requirements while providing accurate and timely financial information to management.
Key Responsibilities
1. Revenue and Cost Recognition
- Ensure revenue and costs are recognized in accordance with Philippine Financial Reporting Standards (PFRS).
- Identify performance obligations, determine transaction price, and allocate transaction price to performance obligations.
- Perform quarterly revenue recognition and coordinate with the Tax and Accounts Receivable (AR) Teams for ITR, CWT, and VAT remittances.
- Assess contracts for significant financing components and ensure proper accounting treatment.
- Coordinate with the AR Team and External Auditors during financial audits to ensure accurate revenue reporting.
2. Financial Statement Preparation & Month-End Closing
- Prepare monthly financial statements, including:
- Balance Sheet
- Income Statement
- Cash Flow Statement
- Prepare and maintain monthly Balance Sheet and Income Statement schedules.
- Lead and manage the month-end closing process of the assigned real estate entity.
- Ensure accuracy, completeness, and timeliness of financial reports.
3. Budgeting and Financial Analysis
- Prepare and monitor CAPEX and OPEX reports for the real estate project.
- Reconcile budgeted costs with actual costs used in revenue recognition.
- Provide financial analysis and insights to Management to support decision-making.
4. Financial Reporting and Compliance
- Ensure compliance with regulatory requirements and accounting standards.
- Maintain accurate financial records and documentation.
- Ensure that financial statements fairly present the financial position of the company.
5. Cross-Functional Collaboration
- Coordinate with:
- Project Development Team for estimated Percentage of Completion (POC)
- Engineering and QS Teams for actual POC updates
- Accounts Receivable Team for collection monitoring
- SDC and C&C Teams for contract documentation
- External Auditors for annual statutory audit
- Ensure completeness and accuracy of project financial data across departments.
6. Audit Leadership and Coordination
- Prepare Financial Statements (FS), Working Trial Balance (WTB), and Notes to Financial Statements (NFS).
- Serve as the primary point of contact for external auditors.
- Address and resolve audit queries related to financial statement balances.
Qualifications
- Bachelor's Degree in Accountancy; CPA is an advantage but not required.
- At least 35 years of accounting experience, preferably in real estate or construction industry.
- Strong knowledge of PFRS and revenue recognition standards.
- Proficient in financial reporting and audit coordination.
- Strong analytical skills and attention to detail.
- Excellent communication and coordination skills.
- Willing to be assigned in Pasay City
