Project Accountant (Construction & Engineering)

About the Role

• Fronthill Controls is looking for an experienced Project Accountant to own the financial reporting for a portfolio of active construction and engineering projects across Nigeria.
• This role goes beyond routine bookkeeping — you'll manage percentage-of-completion revenue recognition under IFRS, maintain accurate work-in-progress (WIP) schedules, and act as the financial partner to project managers, ensuring every project's numbers tell an accurate story from mobilization through closeout.
• You'll be the person who catches a miscoded cost before it distorts a project's margin, who can explain to a project manager why their numbers don't match yours, and who keeps revenue recognition, billing, and job costing tightly aligned with the actual progress on-site.
• If you're comfortable with accrual accounting, IFRS 15, and the mechanics of construction financials in the Nigerian market — including WHT, VAT, and PenCom-compliant statutory deductions — and you don't shy away from a hard conversation when the data calls for it, we want to hear from you.

Key Responsibilities
Revenue Recognition & WIP Management:

• Prepare and maintain monthly work-in-progress (WIP) schedules across all active projects, calculating percentage-of-completion using the cost-to-cost method.
• Recognize revenue in accordance with IFRS 15, including proper treatment of contract assets/liabilities, unbilled receivables, and billings in excess of costs.
• Identify and immediately flag projects trending toward a loss position, ensuring full loss recognition in the correct period.
• Track unapproved/pending change orders and claims separately, applying appropriate judgment on revenue recognition for unpriced work.

Job Costing & Month-End Close:

• Own the month-end close process for assigned projects: accrue unbilled subcontractor costs, unrecorded labor, and other period-end items to ensure job costs are complete and accurate.
• Reconcile job cost ledgers to the general ledger and investigate/correct coding errors before they distort project margins.
• Partner with project managers to update estimates-to-complete (ETC) and estimates-at-completion (EAC) each month based on current field conditions.
• Manage accounting for retainage, mobilization advances, prepaid materials, and other construction-specific balance sheet items.

Billing & Cash Management:

• Prepare and submit interim valuation certificates/progress billings in line with contract terms, bills of quantities, and project milestones.
• Monitor aged retainage and unbilled revenue, and drive resolution of stale balances with project teams and clients.
• Support cash flow forecasting by project, factoring in billing schedules, retainage releases, and payment terms.

Reporting & Compliance:

• Deliver accurate, timely WIP reports and project financial packages to the Controller/CFO and, as needed, ownership, lenders, or auditors.
• Maintain supporting documentation for revenue recognition judgments, change orders, and cost accruals sufficient to withstand audit scrutiny.
• Ensure correct application of Withholding Tax (WHT) and VAT on subcontractor and supplier invoices, and support statutory remittances (PAYE, Pension, WHT, VAT) in line with FIRS and PenCom requirements.
• Identify and escalate control gaps or irregularities (e.g., unusual vendor billing patterns) in line with company policy.

Cross-Functional Collaboration:

• Act as the primary financial point of contact for assigned project managers and superintendents.
• Communicate margin risk clearly and directly, even when it means pushing back on a project team's optimistic view.
• Contribute to process improvements in job costing, billing, and close procedures.

What Success Looks Like in the First 6 Months

• You independently prepare accurate WIP schedules for your project portfolio, with minimal rework requested by the Controller.
• Project managers trust your numbers and come to you proactively when their view of a project's progress diverges from the cost data.
• Month-end close for your projects is on time, with all known accruals captured and clearly documented.
• You've identified and helped resolve at least one aged retainage, underbilling, or reconciliation issue that had been lingering.

Qualifications
Required:

• Bachelor's Degree (BSc/HND) in Accounting, Finance, or a related field.
• 5+ years of accounting experience, including at least 2–3 years in project/construction accounting.
• Solid working knowledge of percentage-of-completion accounting, IFRS 15 revenue recognition, and WIP schedule preparation.
• Demonstrated experience with job costing, cost accruals, and month-end close in a project-based environment.
• Working knowledge of Nigerian statutory compliance — PAYE, VAT, Withholding Tax (WHT), and Pension Reform Act requirements — as they apply to project accounting.
• Strong Excel skills; experience with accounting/ERP systems commonly used in Nigeria (e.g., QuickBooks, Sage 50/Sage 300, or similar).
• Excellent communication skills, with the ability to explain financial concepts clearly to non-financial project managers.
• High attention to detail and a track record of catching and correcting errors before they reach leadership or the board.
• Valid NYSC discharge or exemption certificate.

Preferred:

• ICAN, ACCA, or ANAN certification (or actively pursuing).
• Experience preparing progress billings/valuation certificates and managing retainage on Nigerian construction contracts.
• Prior exposure to bonded projects, subcontractor default/backcharge situations, or claims accounting.
• Experience with public sector/government-funded projects and their reporting requirements.
• Experience supporting external audits or lender reporting requirements.

Core Accounting Skills
The successful candidate will bring demonstrable, hands-on strength across the following:

• Preparation & analysis of financial statements (P&L, balance sheet, cash flow) at project and company level
• Accrual-basis accounting and disciplined month-end/year-end close
• Percentage-of-completion (WIP) accounting and cost-to-cost calculations
• Revenue recognition under IFRS 15, including contract assets/liabilities
• Job costing, cost allocation, and cost-to-complete/EAC forecasting
• Bank, general ledger, and sub-ledger account reconciliations
• Budgeting, forecasting, and budget-to-actual variance analysis
• Accounts payable and receivable management, including aging review
• Fixed asset accounting and depreciation schedules
• Internal controls, segregation of duties, and fraud-risk awareness
• Statutory tax compliance — VAT, Withholding Tax (WHT), and PAYE
• Payroll-related statutory remittances (Pension, NHF, NSITF)
• Preparation of monthly, quarterly, and year-end financial reports for management and stakeholders
• External audit support, including schedule and reconciliation preparation
• Advanced Excel (pivot tables, lookups, financial modeling) and ERP proficiency.

What We Offer

• Competitive net salary of N350,000 – N500,000 monthly, commensurate with experience.
• HMO health insurance coverage.
• Pension contributions in line with the Pension Reform Act.
• Paid leave allowance and statutory public holidays.
• Opportunities for professional development, including support toward ICAN/ANAN certification.

Application Closing Date
30th August, 2026.

How to Apply
Interested and qualified candidates should send their CV and a brief cover letter to: using "Project Accountant – Lagos" as the subject of the email.

Note

• Only shortlisted candidates will be contacted.
• Please include your experience with WIP schedules, percentage-of-completion accounting, and the ERP systems you've used.
• Fronthill Controls is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

Share this job: