Project Accounting Role - Manufacturing Firm

Project Accounting Role

Project accounting:

- Develop detailed asset structure in ERP system linked to approved project budget to monitor and track the asset values, useful life, and capitalization

- Implement process for reviewing and reporting daily, weekly, and monthly project spends (opex / capex)

- Analyse variances to project budget for Capex, operating and start-up costs, take actions as required

Project governance and risk management:

- Ensure compliance with ABF and India local policy, accounting standards, internal and external compliance requirements when generating financial reports and lead compliance agenda with project team

- Implement project governance on investments in accordance with the Governance WoW through the phases of execution and integration, applying project management toolkits

- Ensure projects can be closed on time and right first time (i.e., completion of project as per scope, no outstanding goods receipt or invoices to purchase orders)

Lead project financial risk management in the key areas of :

- Taxes (GST, customs)

- Forex risk management (working with corporate treasury))

- Insurance (freight, maintenance, third party, etc.)

- Highlight on a timely basis potential financial risks to management and develop plans to counter them.

- Review all financial obligations at the site and escalate on any risks (including local petty cash usage)

Project financial management:

- Work closely with Project Manager, procurement, and engineering to develop and maintain periodic project cost forecasts as well as analyse data to provide solutions to keep projects on track

- Partner the procurement function to identify open risks in contract and other obligations with the supplier, open commodity risk management to timely identify and support risk mitigation strategy

- Partner the engineering team and project manager to identify risks on project execution, compliances and finances, proactively manage risks working with team including but not limited to project execution delays

- Contribute in risk and opportunity discussion and following up on action plans with the project team

- Escalate for decisions any opportunities and risk to delivery of more effective project cost management or factory operating cost management

- Perform ad-hoc financial simulations, and CAPEX evaluations or forecasts as required in line with ABF financial policies, and accounting standards to support strategic decision making for the project

- Organize to handover project to the factory finance team at project completion as per ABF policies

Project incentives management:

- Responsible to handle project incentives related documentation working closely with Project Manager, procurement, and engineering

- Develop processes for appropriate review and retention of documentation for availing incentives from both state and central government authorities. Coordinate with designated teams to lead obtaining incentive