Accounting Supervisor (Project Cost)

The Accounting Supervisor (Project Cost) is responsible for overseeing and managing all accounting functions related to the costing of real estate development projects. This role ensures the accurate tracking, recording, and reporting of project costs, adherence to budget, and compliance with accounting standards and company policies. The supervisor will lead a small team of project cost accountants or assistants, providing guidance and ensuring the integrity of financial data crucial for project profitability analysis and strategic decision-making in the real estate sector.

Key Responsibilities

Project Cost Accounting Management:

• Oversee the end-to-end accounting process for all real estate project costs, including land acquisition, development, construction, marketing, and related overheads.
• Ensure proper classification, allocation, and capitalization of project costs in accordance with Philippine Financial Reporting Standards (PFRS) and company accounting policies.
• Review and approve journal entries, reclassifications, and adjustments related to project costs.
• Manage and reconcile project-specific general ledger accounts and subsidiary ledgers.
  
  

Budgeting & Variance Analysis

• Collaborate with Project Development, Engineering, and Procurement teams to establish project budgets and cost baselines.
• Monitor actual project expenditures against approved budgets, identifying and analyzing significant variances.
• Prepare detailed budget vs. actual reports for management, highlighting cost overruns or savings and providing explanations.
• Assist in forecasting future project costs and cash outflows.
  
  

Financial Reporting & Analysis

• Prepare and review periodic (monthly, quarterly, annual) project cost reports, cost-to-complete analyses, and profitability statements for individual projects.
• Provide insightful financial analysis on project performance, identifying trends and potential risks or opportunities.
• Assist in the preparation of financial statements and disclosures related to real estate properties under development.
  
  

Controls & Compliance

• Establish and maintain robust internal controls over project cost recording and reporting processes to ensure accuracy, prevent fraud, and safeguard company assets.
• Ensure compliance with PFRS, BIR regulations, and other relevant statutory requirements pertaining to real estate development costs.
• Coordinate with internal and external auditors for project cost-related audits, providing necessary documentation and explanations.
  
  

Team Leadership & Development

• Supervise, train, mentor, and evaluate the performance of project cost accountants or assistants.
• Delegate tasks effectively and manage workload to ensure deadlines are met.
• Foster a collaborative and high-performing team environment, encouraging continuous learning and process improvement.
  
  

Interdepartmental Coordination

• Liaise closely with Project Managers, Procurement, Treasury, and Sales departments to ensure accurate and timely flow of cost-related information.
• Address inquiries and provide financial data to support operational decisions.
  
  

Qualifications

• Bachelor's degree in Accountancy.
• Certified Public Accountant (CPA) license is highly preferred.
• At least 5 years experience in project cost accounting, with a minimum of 2-3 years in a supervisory role focused on project costing, preferably within the real estate or construction industry.
• With experience working in RE industry specializing in horizontal projects
• In-depth knowledge of PFRS, particularly IAS 2 (Inventories) and IAS 16 (Property, Plant, and Equipment) as applied to real estate development.
• Proven experience with project cost management systems and accounting software (e.g., SAP, Oracle, or industry-specific real estate accounting software).
• Advanced proficiency in Microsoft Excel for financial modeling, analysis, and reporting.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent leadership, communication (written and verbal), and interpersonal skills.
• Ability to work effectively under pressure, manage multiple projects simultaneously, and meet tight deadlines.