- project accountant
- project accountant
The person responsible for project cost accounting services to the project.
Duties typically include:
Maintenance of project ledgers (usually electronic) showing WBS budget line
items, commitments, expenditures and forecasts.
Ensuring the integrity of the project budget through approved scope changes,
fiscal changes, and contingency reallocations.
Verification of invoices and their correct holdback, coding and WBS
allocation.
Verification of overhead charges and their distribution.
Issuing monthly project cost reports that include forecast final costs and
variances based on project team input.
Flagging significant projected overruns or underruns.
Ensuring final payments of hold back on all contracts and closing of
accounts upon project completion.
Transfer of project expenditures from project financing to the
organization's fixed asset records.
The Project Accountant is often a member of the corporate controller's
department assigned to the project team.
Source: Max Wideman.com
Copyright: Wideman Comparative Glossary
of Common Project Management Terms v3.1 is copyright by R. Max Wideman, March
2002.
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