Senior Revenue Accountant Revenue Recognition – Percentage of Completion (POC) at Cytel

Job description

To qualify for the role, you must authorized to work in the US and or Canada without sponsorship and comfortable working eastern time zone. Senior Revenue Accountant Our commitment to developing our staff is only surpassed by our commitment to advancing treatment options available to patients. At Cytel, we work hard to create successful careers with significant professional growth for our employees and as a result work hard to make Cytel successful. Cytel is a place where talent, experience, and integrity come together to advance the state of clinical development. As the world’s leading data-science CRO and pioneers in adaptive trial design, Cytel leverages the power of data to inform clinical strategy at every stage of drug development. From innovative trial design, end-to-end biometrics to real-world evidence, value and access, we strive to shorten the drug development cycle and increase the probability of success, delivering better patient outcomes through our innovative analytical methods. We are seeking a Senior Revenue Accountant Position Overview We are seeking an experienced Senior Revenue Accountant with strong expertise in ASC 606 revenue recognition, particularly Percentage-of-Completion (POC) accounting for project-based contracts . The ideal candidate will have hands-on experience recognizing revenue over time using project costs as a measure of progress toward completion. Because POC accounting represents the majority of our revenue recognition activities, direct experience with cost-based revenue recognition methods is highly preferred. How you will contribute: • Manage revenue recognition activities in accordance with ASC 606, with a primary focus on Percentage-of-Completion (POC) accounting for project-based contracts. • Calculate and recognize revenue based on project progress, utilizing actual costs incurred relative to total estimated project costs (cost-to-cost methodology). • Monitor project budgets, actual costs, estimated costs to complete, and changes in project scope to ensure accurate revenue recognition. • Review contracts to determine appropriate revenue recognition methods, performance obligations, and timing of revenue recognition. • Prepare and review monthly revenue schedules, journal entries, reconciliations, and supporting documentation. • Partner with Project Management, Finance, and Accounting teams to evaluate project progress, assess cost estimates, and resolve revenue recognition discrepancies. • Analyze contract modifications, changes in estimated project costs, and their potential impact on recognized revenue. • Support month-end and quarter-end close activities, financial reporting, and audit requirements related to revenue recognition. • Maintain accurate documentation supporting revenue calculations and compliance with applicable accounting standards. Here at Cytel we want our employees to succeed and we enable this success through consistent training, development and support. To be successful in this position you will have: • Strong knowledge of ASC 606 and revenue recognition principles. • Demonstrated hands-on experience with Percentage-of-Completion (POC) revenue recognition , preferably using a cost-to-cost methodology. • Experience accounting for long-term, project-based contracts and recognizing revenue as performance obligations are satisfied. • Ability to evaluate project costs, estimated costs to complete, and revenue recognition adjustments. • Experience with month-end close, journal entries, reconciliations, and financial reporting. • Strong Excel skills and experience working with ERP/accounting systems. • Ability to collaborate with project managers and cross-functional stakeholders to ensure accurate financial reporting. Preferred Qualifications • Revenue accounting experience within project-based professional services, consulting, engineering, technology implementation, or similar environments. • Experience with SaaS revenue recognition, including subscription arrangements and implementation services. • Familiarity with recognizing SaaS subscription revenue ratably over the contractual service period, as appropriate under ASC 606. • Experience with revenue accounting modules within ERP systems such as NetSuite, Oracle, or similar platforms. ** Candidates should have direct experience with project-based, cost-to-cost POC revenue recognition rather than exclusively SaaS subscription revenue recognition **

Requirements

Must-haves

To qualify for the role, you must authorized to work in the US and or Canada without sponsorship and comfortable working eastern time zone.
Senior Revenue Accountant
We are seeking a Senior Revenue Accountant
Position Overview
Manage revenue recognition activities in accordance with ASC 606, with a primary focus on Percentage-of-Completion (POC) accounting for project-based contracts.
Calculate and recognize revenue based on project progress, utilizing actual costs incurred relative to total estimated project costs (cost-to-cost methodology).
Monitor project budgets, actual costs, estimated costs to complete, and changes in project scope to ensure accurate revenue recognition.
Review contracts to determine appropriate revenue recognition methods, performance obligations, and timing of revenue recognition.
Prepare and review monthly revenue schedules, journal entries, reconciliations, and supporting documentation.
Partner with Project Management, Finance, and Accounting teams to evaluate project progress, assess cost estimates, and resolve revenue recognition discrepancies.
Analyze contract modifications, changes in estimated project costs, and their potential impact on recognized revenue.
Support month-end and quarter-end close activities, financial reporting, and audit requirements related to revenue recognition.
Maintain accurate documentation supporting revenue calculations and compliance with applicable accounting standards.
Here at Cytel we want our employees to succeed and we enable this success through consistent training, development and support. To be successful in this position you will have:
Strong knowledge of ASC 606 and revenue recognition principles.
Demonstrated hands-on experience with Percentage-of-Completion (POC) revenue recognition , preferably using a cost-to-cost methodology.
Experience accounting for long-term, project-based contracts and recognizing revenue as performance obligations are satisfied.
Ability to evaluate project costs, estimated costs to complete, and revenue recognition adjustments.
Experience with month-end close, journal entries, reconciliations, and financial reporting.

Nice-to-haves

Revenue accounting experience within project-based professional services, consulting, engineering, technology implementation, or similar environments.
Experience with SaaS revenue recognition, including subscription arrangements and implementation services.
Familiarity with recognizing SaaS subscription revenue ratably over the contractual service period, as appropriate under ASC 606.
Experience with revenue accounting modules within ERP systems such as NetSuite, Oracle, or similar platforms.
Candidates should have direct experience with project-based, cost-to-cost POC revenue recognition rather than exclusively SaaS subscription revenue recognition **

Application prep

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Platform: oracle-cloud
Effort: medium