Project Accountant

Way beyond a simple consulting firm, Source of Asia is an international business accelerator. In simple words, we enable our customers to explore, operate and grow business in Vietnam, across ASEAN, and further afield. We thrive on challenges, permanently motivated to learn and grow along the way. We believe success lies in the human relationships we build. This dynamic environment is the ideal gateway for talents, who believe, like we do, in sustainable growth. Our fast-growing company is permanently looking for new talents.

The following job description pertains to an external position that we are currently hiring for on behalf of our client. Submit your application today!

The Project Accountant will play a crucial role in the success of the project by providing comprehensive accounting support, ensuring accurate financial reporting, efficient cost management, and adherence to all relevant Vietnamese tax and regulatory requirements, with particular focus on managing the financial aspects of the outsourced manufacturing process.

1. Cost Accounting

• Develop and maintain a detailed cost accounting system for the project, with a focus on capturing costs related to outsourced manufacturing.
• Track and analyze all production costs, including:

o  Raw materials (including landed costs)

o  Contract manufacturing fees paid to the third-party manufacturer

o  Other direct costs related to manufacturing (e.g., quality control, packaging)

o  Manufacturing overhead (rent, utilities, depreciation of any equipment owned by Source of Asia)

• Prepare and analyze cost reports, including variance analysis, to identify cost-saving opportunities and improve profitability, specifically focusing on the cost-effectiveness of the outsourced manufacturing arrangement.
• Work closely with the Project Manager to develop and monitor project budgets, ensuring that costs remain within approved limits.
• Contribute to pricing decisions by providing accurate cost information, considering the contract manufacturing fees.

2. Inventory Accounting

• Maintain accurate records of all inventory movements, including:

o  Receipt of raw materials from suppliers

o  Storage of materials in the warehouse

o  Transfer of materials to the contract manufacturer

o  Receipt of finished goods from the contract manufacturer

o  Finished goods inventory

• Conduct regular inventory reconciliation to ensure physical inventory matches accounting records, including reconciliation of materials held at the contract manufacturer's premises.
• Implement and maintain an inventory management system to optimize stock levels and minimize storage costs, coordinating with the contract manufacturer as needed.
• Ensure proper valuation of inventory using appropriate costing methods (e.g., FIFO, LIFO), considering the value added through the outsourced manufacturing process.

3. Financial Reporting

• Prepare timely and accurate financial reports for the project, including:

o  Monthly income statements (profit and loss statements), clearly reflecting the cost of goods sold, including contract manufacturing fees.

o  Balance sheets

o  Cash flow statements

• Analyze financial data and provide insightful reports to the Project Manager, highlighting key trends, variances, and areas for improvement, with a focus on the financial performance of the outsourced manufacturing arrangement.
• Assist in the preparation of client invoices and track payments from the clients.
• Maintain detailed and organized accounting records for audit purposes.

4. Tax and Compliance

• Ensure full compliance with all Vietnamese tax laws and regulations relevant to the project, including those related to outsourced manufacturing.
• Prepare and file all necessary tax returns accurately and on time.
• Stay up to date on changes in tax legislation and their impact on the project.

5. Other Responsibilities

• Support the Project Manager with other accounting and administrative tasks as needed.
• Collaborate effectively with other project team members, including the logistics team and account manager, to ensure smooth project execution.
• Develop and maintain strong working relationships with the accounting team at the contract manufacturer to ensure accurate cost reporting and reconciliation.
• Contribute to the development and improvement of accounting processes and procedures.
• Maintain confidentiality of sensitive financial information.

• Bachelor’s degree in accounting or a related field.
• At least 02 years of experience in a manufacturing or related environment, with a strong understanding of cost accounting and inventory management, preferably with experience in managing outsourced manufacturing arrangements.
• Thorough knowledge of Vietnamese accounting standards (VAS) and tax regulations.
• Can-do attitude, supportive.
• Proficiency in accounting software and Microsoft Excel.
• Knowledge of ERP systems especially Odoo or SAP
• Excellent analytical and problem-solving skills.
• Strong attention to detail and accuracy.
• Effective communication and interpersonal skills.
• Good English communication (not a must)
• Experience working with international clients.

• Competitive salary package commensurate with experience and qualifications.
• Opportunities for professional growth and development within a dynamic team environment.
• Access to cutting-edge tools and software to support job responsibilities.
• Other employee benefits follow company policies.