Accounting Associate Internship in Bangalore at Jacobs

Jacobs is hiring for the role of Accounting Associate!

Responsibilities of the Candidate:

• Set up new projects, open and close time classes in company system (ORACLE), apply transaction controls, budget, payment terms and configure the contract in the Project Accounting System.
• Analyse and understand the contract terms & conditions and accordingly ensure that correct billing is done to the client for T&M and Fixed Price projects.
• Understand the impact of price escalation or change notices as per contract conditions and ensure that there is no loss of revenue for the company.
• Communicate with Project Managers (PM) and Principals-in-Charge (PIC), regarding contract documents, change orders and other contract modifications, approvals, and any additional services related to billing
• Prepare final invoice package containing draft and final invoices for all billable projects, including all applicable backups for approval by the Accounting Supervisor.
• Ensure timelines for raising and submission of invoices to the clients.  
• Research any unbilled issues to optimize the billing possibilities for the billing period.
• Maintain folders/files for all projects, with all the appropriate documents, including expenses, consultant invoices, and monthly invoices, by standard procedures.
• Work with the Accounts Receivable team member to reconcile variances that occur in the application of cash.
• Work with Accounts Payable team members where certain expenses are billable to clients at actuals.
• Generate and distribute profitability reports.
• Review weekly time sheets and monthly analyze the profitability of the Project, Performance Unit or other parameters as assigned.
• Provide year-end support of auditor requirements, which includes front-facing them on their queries & making sure matters of significance are reported & escalated to the PA Supervisor
• Perform additional assignments, as directed by the Accounting Supervisor.
• Communicate and coordinate with all Jacobs offices

Requirements:

• Strong technical knowledge of accounting standards – particularly revenue recognition.  Experience working in a large, diverse organization with intersecting business processes. 
• Strong understanding of Enterprise Resource Planning (ERP) systems, such as Oracle Financials. 
• Strong verbal and written communication skills with the ability to work directly with all levels of the organization.
• Ability to work in a matrix reporting structure and proven success of partnering with organizational cross-functional teams.
• B.Com/M.Com is required
• 1-5 years of Experience is required in Project Accounting