Development Accountant I

DEVELOPMENT ACCOUNTANT I

SUMMARY

As a Development Accountant, you will play a vital role in supporting the financial management and accounting operations of the company’s development projects. This position requires a detail-oriented, analytical, and proactive accountant with a strong foundation in GAAP and core financial accounting principles who can quickly add value with minimal oversight. This role offers the opportunity to work in an exciting, fast-paced environment where no two days are the same and priorities evolve quickly.

The ideal candidate is confident reviewing financial statements, identifying meaningful variances, understanding trends, and asking the right questions when results do not align with expectations. While this role supports real estate development projects, deep development experience is preferred but not required. Real estate and development-specific nuances can be taught; strong accounting judgment and fundamentals are essential.

ESSENTIAL JOB DUTIES AND RESPONSIBILITIES

• Own the day-to-day accounting for assigned development projects, including preparing and reviewing journal entries, maintaining account reconciliations, and ensuring accuracy of the general ledger.
• Prepare and review monthly financial statements and project reports to identify significant variances, unusual trends, and items requiring follow-up or explanation.
• Perform budget-to-actual analysis, investigate discrepancies, and clearly explain changes in financial results.
• Support the month-end close process by preparing accruals, understanding timing differences, and ensuring activity is properly reflected in the financial statements.
• Track project costs and expenditures, comparing activity against budgets and identifying trends or inconsistencies.
• Assist in the preparation and maintenance of project budgets, cash flow tracking, and financial reporting.
• Responsible for the oversight of project funding, and preparation of construction draws and pay applications, and ensure compliance with funding and loan requirements.
• Maintain accurate and organized records of development-related financial transactions, including invoices, contracts, and supporting documentation.
• Assist with project audits by preparing documentation and providing explanations related to project accounting activity.
• Communicate effectively and professionally with internal stakeholders, vendors, and external partners regarding project-related accounting matters.

Requirements

SKILLS AND EXPERIENCE

• Bachelor's degree in Accounting, Finance, or a related field.
• 4+ years of progressive experience in accounting; experience in a construction or real estate development environment preferred but not required.
• Strong understanding of financial accounting and GAAP
• Experience with journal entries, account reconciliations, month-end close, budget-to-actual analysis, and variance explanations
• Experience with accounting software and project management software is a plus.
• Solid foundation in accounting principles.
• Excellent organizational and time-management skills, with the ability to manage multiple tasks, prioritize effectively, and meet deadlines.
• Strong attention to detail and accuracy in data entry and record-keeping.
• Proficiency in Microsoft Office Suite, particularly Excel, with the ability to create and maintain spreadsheets and perform calculations.
• Ability to work independently and collaboratively as a team member, with a proactive and positive attitude.
• Good written, verbal, and interpersonal communication skills.
• Real estate of development accounting experience is a plus, but not required
• Must have a valid driver’s license with no major infractions in the last 12 months.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is often exposed to outside weather conditions. The noise level in the work environment is usually moderate.

This job description is intended to provide a general overview of the Development Accountant I role. The specific duties and responsibilities may vary.