Job Summary

The Construction Accountant is responsible for the financial management and reporting of construction projects from pre-construction to closeout. This includes budgeting, tracking project expenses, processing subcontractor pay applications, and ensuring revenue is recognized correctly according to industry standards.

Key Responsibilities

1. Job Costing & Budgeting

• Collaborate with Project Managers to create and maintain detailed project budgets.
• Allocate costs (labor, materials, equipment, and overhead) to specific "cost codes" to monitor project profitability.
• Perform variance analysis to identify and explain discrepancies between actual costs and budgeted amounts.

2. Contract & Subcontractor Management

• Review and process payment applications.
• Manage lien waivers and insurance certificates to ensure compliance before releasing payments.
• Track and process change orders, ensuring they are accurately reflected in the budget and billing.

3. Financial Reporting & Revenue Recognition

• Prepare Work-in-Progress (WIP) reports to provide a snapshot of project status and over/under billings.
• Recognize revenue using the Percentage of Completion (POC) method.
• Assist in month-end and year-end closing processes, including bank reconciliations and financial statement preparation.

4. Cash Flow & Compliance

• Monitor project cash flow and prepare loan draw requests for lenders.
• Ensure all project activities comply with GAAP (Generally Accepted Accounting Principles) and industry-specific tax regulations.
• Coordinate with internal and external auditors during project or company-wide audits.

Required Skills & Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• CPA (Certified Public Accountant) or CCIFP (Certified Construction Financial Professional) is highly preferred.
• Deep understanding sales and use tax for construction.