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property and group of projects ? Reforecasting / multiple budget facility ? Multi currency budgeting ? Information from past projects available to assist with estimate of future project costs ? Direct costs allocated per timesheet entry ? Indirect costs per timesheet/ algorithms ? Collect costs in line with project milestones / phases ? Various ways of collecting costs。 HR systems to aid input ? Time costed at multiple rates ? Automatic interface with inventory / accounts payable ? Multi currency costs ? Marginal or full costing basis ? Software supports standard amp。 budget Bill or charge for project 5 PwC175i Project Accounting Critical Success Factors ? Project team led, finance supported. Participative approach to financial project management leading to real buyin。 ? Effective munication and feedback mechanisms in place between central group(s) and project / job managers。 ? Strong analytical support to decision making, by both finance departments and project teams。 planning Time recording system Inventory 9 PwC175i Project Accounting Level 1 Overview Standing data Request Budgeting procedures Authorisation procedure Technical Policy / requirements Project Accounting Policy Management Accountant Technical support Budget holder Project owmer PA structure Achieve information Authorisation rules Reporting rules Technical standards PA procedures / templates Management accountant Project managers Financial accountant Budget holder Reports Progress reports Financial procedures PA procedures Management feedback Technical Feed back Authorised project Communication and