# Contract Accountant

*/JobTypes/Contract_Accountant*

## Neighborhood

### Related (delivered by)

- [Perform contract accounting - corporate function](/Processes/Perform_contract_accounting_-_corporate_function) — delivered by · Processes

### Required knowledge

- [Project Cost Accounting](/Knowledge/Project_Cost_Accounting) — requires knowledge · Knowledge
- [Percentage-of-Completion Accounting](/Knowledge/Percentage-of-Completion_Accounting) — requires knowledge · Knowledge
- [Contract Terms](/Knowledge/Contract_Terms) — requires knowledge · Knowledge
- [Revenue-recognition standards](/Knowledge/Revenue-recognition_standards) — requires knowledge · Knowledge
- [Contract Billing Terms](/Knowledge/Contract_Billing_Terms) — requires knowledge · Knowledge
- [Cost Accounting Standards](/Knowledge/Cost_Accounting_Standards) — requires knowledge · Knowledge
- [Generally Accepted Accounting Principles](/Knowledge/Generally_Accepted_Accounting_Principles) — requires knowledge · Knowledge

### Engage in

- [Applying Revenue Recognition Rules](/Activities/Applying_Revenue_Recognition_Rules) — engage in · Activities
- [Track billing milestones](/Activities/Track_billing_milestones) — engage in · Activities
- [Apply revenue-recognition standards](/Activities/Apply_revenue-recognition_standards) — engage in · Activities
- [Recognize contract revenue and costs](/Activities/Recognize_contract_revenue_and_costs) — engage in · Activities
- [Reconcile contract balances, retainage, and unbilled amounts](/Activities/Reconcile_contract_balances,_retainage,_and_unbilled_amounts) — engage in · Activities
- [Calculate Percentage of Completion](/Activities/Calculate_Percentage_of_Completion) — engage in · Activities
- [Track Contract Modifications and Change Orders](/Activities/Track_Contract_Modifications_and_Change_Orders) — engage in · Activities
- [Recognize Contract Revenue](/Activities/Recognize_Contract_Revenue) — engage in · Activities

### Perform

- [Recognize Revenue Per Standards](/Tasks/Recognize_Revenue_Per_Standards) — perform · Tasks
- [Apply revenue-recognition standards](/Tasks/Apply_revenue-recognition_standards) — perform · Tasks
- [Maintain contract cost schedules](/Tasks/Maintain_contract_cost_schedules) — perform · Tasks
- [Prepare project profitability reports](/Tasks/Prepare_project_profitability_reports) — perform · Tasks
- [Recognize contract revenue and costs](/Tasks/Recognize_contract_revenue_and_costs) — perform · Tasks
- [Reconcile contract balances to the ledger](/Tasks/Reconcile_contract_balances_to_the_ledger) — perform · Tasks
- [Record accruals and deferrals](/Tasks/Record_accruals_and_deferrals) — perform · Tasks
- [Track billing milestones](/Tasks/Track_billing_milestones) — perform · Tasks
- [Calculate percentage-of-completion and variance positions](/Tasks/Calculate_percentage-of-completion_and_variance_positions) — perform · Tasks
- [Prepare contract-level financial statements and schedules](/Tasks/Prepare_contract-level_financial_statements_and_schedules) — perform · Tasks
- [Reconcile contract balances, retainage, and unbilled amounts](/Tasks/Reconcile_contract_balances,_retainage,_and_unbilled_amounts) — perform · Tasks
- [Support audits with contract accounting documentation](/Tasks/Support_audits_with_contract_accounting_documentation) — perform · Tasks
- [Track costs and billings by contract or work order](/Tasks/Track_costs_and_billings_by_contract_or_work_order) — perform · Tasks
- [Support Contract Audits](/Tasks/Support_Contract_Audits) — perform · Tasks
- [Reconcile Contract Billings to Costs](/Tasks/Reconcile_Contract_Billings_to_Costs) — perform · Tasks
- [Recognize Contract Revenue](/Tasks/Recognize_Contract_Revenue) — perform · Tasks
- [Prepare Contract Cost Reports](/Tasks/Prepare_Contract_Cost_Reports) — perform · Tasks
- [Calculate Percentage of Completion](/Tasks/Calculate_Percentage_of_Completion) — perform · Tasks
- [Track Contract Modifications and Change Orders](/Tasks/Track_Contract_Modifications_and_Change_Orders) — perform · Tasks

### Requires ability

- [Attention to detail](/Ability/Attention_to_detail) — requires ability · Ability
- [Numerical reasoning](/Ability/Numerical_reasoning) — requires ability · Ability
- [Analytical reasoning](/Ability/Analytical_reasoning) — requires ability · Ability
- [Mathematical Reasoning](/Ability/Mathematical_Reasoning) — requires ability · Ability
- [Number Facility](/Ability/Number_Facility) — requires ability · Ability
- [Deductive Reasoning](/Ability/Deductive_Reasoning) — requires ability · Ability

### Required skills

- [Revenue recognition](/Skills/Revenue_recognition) — requires skill · Skills
- [Financial reporting](/Skills/Financial_reporting) — requires skill · Skills
- [Contract cost accounting](/Skills/Contract_cost_accounting) — requires skill · Skills
- [Accrual accounting](/Skills/Accrual_accounting) — requires skill · Skills
- [Account reconciliation](/Skills/Account_reconciliation) — requires skill · Skills
- [Contract Revenue Recognition](/Skills/Contract_Revenue_Recognition) — requires skill · Skills
- [Cost Tracking](/Skills/Cost_Tracking) — requires skill · Skills
- [Variance Analysis](/Skills/Variance_Analysis) — requires skill · Skills

### Uses software

- [Excel](/Software/Excel) — uses software · Software
- [Deltek Costpoint](/Software/Deltek_Costpoint) — uses software · Software
- [Sage Intacct](/Software/Sage_Intacct) — uses software · Software
- [QuickBooks](/Software/QuickBooks) — uses software · Software
- [SAP](/Software/SAP) — uses software · Software
- [Oracle NetSuite](/Software/Oracle_NetSuite) — uses software · Software
- [SAP ERP](/Software/SAP_ERP) — uses software · Software
- [Costpoint](/Software/Costpoint) — uses software · Software
- [Microsoft Excel](/Software/Microsoft_Excel) — uses software · Software

### Type of

- [Accountants and Auditors](/Occupations/Accountants_and_Auditors) — type of · Occupations

### Problems this exposes

- [unfamiliar client chart-of-accounts and ERP mapping relearned every contract](/Problems/unfamiliar_client_chart-of-accounts_and_ERP_mapping_relearned_every_contract) — exposes problem · Problems
- [month-end close ramp-up at each new engagement with zero institutional context](/Problems/month-end_close_ramp-up_at_each_new_engagement_with_zero_institutional_context) — exposes problem · Problems
- [revenue-recognition (ASC 606) judgment calls made without the prior accountant's rationale](/Problems/revenue-recognition_(ASC_606)_judgment_calls_made_without_the_prior_accountant's_rationale) — exposes problem · Problems
- [reconciliations handed off mid-close with no documented workpaper trail](/Problems/reconciliations_handed_off_mid-close_with_no_documented_workpaper_trail) — exposes problem · Problems