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Project Accountant

Job Title
Project Accountant
Job ID
Columbia,  MD 21046
Other Location
Company Overview:

GSE Systems, Inc. is a world leader in real-time high-fidelity simulation, providing a wide range of simulation, training and engineering solutions to the power and process industries. Its comprehensive and modular solutions help customers achieve performance excellence in design, training and operations. GSE's products and services are tailored to meet specific client requirements such as scope, budget and timeline. The Company has over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. The Company has been a publicly traded for over 22 years (GVP).  GSE Systems is headquartered in Columbia, Maryland. Information about GSE Systems is available at

This will be a hybrid role.


GSE Systems, Inc. is looking for an experienced Project Accountant to join our team. This position will report directly to the Revenue manager and be responsible for reviewing and maintaining company contracts/projects.  The role will work directly with the project managers to manage project budgets, forecasts, estimates and actuals. A successful Project Accountant will demonstrate a strong attention to detail, excellent analytical skills to support the Project Management teams, and access the ability to positively drive improvements in processes to ensure accurate cost visibility and project margins. The ideal candidate will also ensure that all projects are set up correctly in Oracle, change orders and revisions are accurately reflected in Oracle, and the Projects Spreadsheets are accurately maintained. In addition, the Project Accountant, with guidance from Revenue Manager, will be responsible for ensuring the appropriate revenue recognition methodology is followed, is in line with ASC 606, and company standards.
Essential Functions:
  • Under guidance from Revenue Manager, review contract documents (Master Agreements, Purchase Orders, etc.) to assess revenue recognition treatment in compliance with ASC 606, and complete revenue checklist
  • Ensure accurate set up of new projects including maintenance of original budgets and related tasks within Oracle by coordinating with Sales and Operational teams
  • Coordinate with Project Managers, through hosting ETC meetings, to maintain accurate and revised forecast and make required updates in spreadsheets and within Oracle
  • Responsible for providing required data and analytics to Project Management on a monthly basis /or on an as need basis
  • Provide detailed analysis of projects including margin analysis with focus on detail of specific pickups and hits
  • Maintain various schedules including POC and BBB (Backlogs, Bookings and Billings) schedules for various projects and contracts
  • Accurately update Projects for cost to complete and generating required revenue entries within Oracle.
  • Process projects and orders in Oracle for month end tasks, including but not limited to maintenance and reconciliation of balance sheet accounts (Unbilled Revenue, Deferred Revenue, etc.…)
  • Complete Journal entries in Oracle as required as they relate to project Accounting
  • Responsible for reviewing and maintaining final job status and determine appropriate treatment of non-incurred cost including accruals where necessary
  • Preparation periodic financial statements and management reporting
  • Compile and communicate various month-end analyses for PM’s and divisional management
  • Monitor projects financial health and advise PM’s when conditions require attention
  • Support budget and forecast as required and needed
  • Assist Revenue Accounting team in any other duties. Other duties may be assigned as needed.
  • Assist with internal and external audit requests.
  • Preparation of periodic warranty schedule, along with entering required adjustments within Oracle
  • Assist with and Process billings per contract terms, including maintaining milestones in Oracle and generating invoices when needed
  • Assist with collection efforts
  • Maintain contract folders in accordance with SOX requirements
  • Assist in providing information for quarterly and year end close and audits
  • Special Projects to be assigned as needed
  • Proficient computer skills, Microsoft Office Suite (Advanced Excel skills required)
  • Thorough exposure to Oracle, especially Projects Module.
  • Strong attention to detail
  • Familiarity with accounting principles and applications
  • Strong analytical and time-management skills
  • Self-motivated, takes initiative and has the ability to effectively organize, multi-task and prioritize a wide array of initiatives
  • Good interpersonal skills and communication with all levels of management

Education & Experience:
  • Bachelor’s degree in Accounting, CPA or CPA-candidate preferred
  • 6+ years of previous experience as a Project Accountant, preferably in a high volume, multiple revenue stream environment
  • Experience with an Engineering, Software, Energy, or other familiar industries highly preferred


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