Location: Ilupeju, Lagos
Employment Type: Full-time (On-site)
Reports To: Controller / CFO|
Department: Finance & Accounting
Industry: 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.
Interested and qualified candidates should send their CV and a brief cover letter to: careers@fronthillcontrols.com 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.