Project Accountant

Project Accountant – Engineering & DefenceLocation: London (Hybrid, 2–3 days per week in the office)
Salary: Dependent on experience
Job Type: Permanent, Full-Time
Security Clearance: Must be eligible to obtain UK SC clearance

We are recruiting for a Project Accountant to join a growing defence technology and advanced manufacturing business developing unmanned aerial systems for government and defence customers.
This is a hands-on finance role, working at the centre of engineering, project delivery and supply chain operations. You will act as the main link between Project Managers and Finance, ensuring project costs are accurately recorded, reconciled and forecast.
The immediate priority will be to review and reconcile existing project costs, establish a reliable financial baseline and improve the accuracy of project reporting. Once this is complete, you will take ownership of ongoing project cost reporting and Cost-at-Completion (CAC) forecasting.
Reporting to the UK/EU Finance Director, you will work across projects involving multiple entities, currencies and external manufacturing partners.
Key Responsibilities

Project Costing & Reconciliation

• Review historic project expenditure, identifying missing, duplicated, incorrectly allocated or unrecorded costs.
• Reconcile project ledgers, work in progress (WIP), supplier accounts and inventory records against the general ledger.
• Investigate discrepancies and implement corrections through appropriate journals and reclassifications.
• Establish accurate project cost baselines and improve financial controls and cost allocation processes.
• Work with Project Managers, engineering and procurement teams to validate costs and supporting documentation.

Project Financial Reporting & Forecasting

• Prepare and maintain Cost-at-Completion (CAC) forecasts, including actual costs, committed expenditure and estimates to complete.
• Monitor project budgets, cost variances, profitability and financial risks.
• Produce monthly project financial reports, highlighting cost movements, forecast changes and potential margin erosion.
• Support revenue recognition, WIP calculations and percentage-of-completion reporting.
• Provide financial analysis to support project changes, pricing decisions and contract negotiations.

Finance & Project Team Liaison

• Act as the key financial contact for Project Managers, engineering, procurement and supply chain teams.
• Hold regular project cost reviews, challenging forecasts and ensuring financial information is accurate.
• Support project teams in improving purchase order management, cost coding and financial reporting.
• Manage project-related month-end activities, including accruals, reconciliations and cost allocation.
• Help improve finance processes, reporting systems and the use of Microsoft Dynamics 365 Business Central.

Skills & Experience RequiredWe are looking for someone with:

• Experience in project accounting, cost accounting or management accounting within engineering, manufacturing, defence or another contract-based environment.
• Proven experience reconciling complex financial data, investigating discrepancies and correcting accounting records.
• Experience preparing Cost-at-Completion (CAC), estimate-to-complete forecasts and project budget variance analysis.
• Strong Excel skills, including pivot tables, lookups and reconciliation models.
• Practical experience using ERP systems, ideally Microsoft Dynamics 365 Business Central.
• The confidence to work directly with Project Managers, engineers and procurement teams to improve project financial performance.
• An accounting qualification such as ACA, ACCA or CIMA, part-qualified status or equivalent practical experience.

Desirable Experience

• Microsoft Dynamics 365 Business Central Projects/Jobs and WIP functionality.
• Revenue recognition for long-term contracts, including IFRS 15 or FRS 102.
• Multi-currency, multi-entity accounting and intercompany transactions.
• Defence or government contract cost reporting.
• Power BI or other financial reporting tools.
• Finance process improvement or ERP implementation experience.

Security Clearance RequirementsDue to the nature of the defence-related projects, applicants must be eligible to obtain UK Security Check (SC) clearance.
SC clearance normally requires five years of UK residency, although applications involving shorter UK residency periods may be considered subject to individual circumstances and additional checks.
Applicants must be willing to undergo the necessary security vetting, including identity, employment history, criminal record and financial checks.

Existing SC clearance is not essential, but applicants must be able to meet the relevant security vetting requirements.

About the Opportunity

This is an opportunity to join a growing engineering business where project finance plays a direct role in commercial and operational decision-making.
The position will suit someone who enjoys getting into the detail, investigating complex financial information and working closely with project teams rather than focusing solely on traditional month-end reporting.
You will have the opportunity to improve how project costs are managed, strengthen financial controls and help establish reliable forecasting and reporting processes as the business grows.
The role offers hybrid working, with attendance at the London office required 2–3 days per week.

Apply If you have a background in project accounting or cost accounting and enjoy working in a technically demanding engineering or manufacturing environment, we would be interested in hearing from you.
Apply with your CV or contact Electus Recruitment Solutions for a confidential discussion.