Wixom, Michigan Sep 2016 - Sep 2018
A $130 million manufacturer of precision machined turbine engine components. Spun off in July 2016 from a larger entity and acquired by a private equity partnership.
Cost Accounting Manager
• Led the cost accounting function including supervising and developing staff.
• Created models for evaluating capital investment decisions for machinery purchases, applying sensitivity analysis to the assumptions used, to insure the investment provided value to the organization.
• Collaborated with FP&A on the annual budget, provided the forecasting of COGS, and assisted with consolidating information from various departments.
• Established a factoring arrangement for certain receivables which saved the company 1/2% per annum on financing costs.
• Investigated and composed an inventory control narrative for the outside auditors that described the procedures and controls followed by the organization. The document revealed a need for additional training and adjustment since some procedures were inconsistent with the functionality of the new ERP system.
• Designed a new policy and set of procedures for controlling and accounting for company and customer owed special tooling and work-holding fixtures.
• Managed the production of external audit requirements including checklist, schedules, and supporting documents.
• Developed a flexible reporting tool for COGS and margins by customer, item, product family, job, and date which provided great detail and understanding of product costs and margins.
• Designed and prepared monthly financial reporting package and authored MD&A memo for senior management.
• Provided training to others in how to use modules of the ERP system such as how engineers build a routing and bill of materials and how material planners read and interpret planning reports.
• Served as a member of the steering committee charged with the responsibility of implementing the conversion to a new ERP system and provided valuable insight from previous experience using the system.
• Used SQL and Power Query to mine data from ERP tables to create reports and analysis for use in performance management.
• Created well-designed graphs and dashboards for effectively presenting financial and operating data to management and the board of directors.
• Served on a cross-functional team with engineering and manufacturing to formulate solutions to operational issues affecting margins.
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2 years at this Job
- Bachelor of Business Administration degree - Business Administration
• Inventory Accounting, Cost Accounting, Month End Close including Intercompany Inventory (UPII)
• Review Balance Sheet reconciliations, Journal Entries, Monthly and Quarterly reporting for COGS & GM
• Support internal / external Audits, Item Master data controls, Product Costing, Gross Margin, and COGS
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• Program Finance: Provide Program Financial Support for Project Management team including: ◦ Perform Contract Analysis on Customer Agreements, determine Revenue Recognition method and document pertinent Terms and Conditions. ◦ Oversee setup and execution of Projects in Costpoint Deltek ERP system including WBS, Baseline Budget and Schedule, Charge codes, Revenue treatment and Billing. ◦ Monthly reporting of program actuals and gross margin. ◦ EAC generation and updates. ◦ Variance analysis.
• Accounting: ◦ Manage monthly Revenue Recognition process including percentage of completion, units of delivery, straight-line revenue schedules in accordance with ASC 606. ◦ Support month end close including program Cost and Revenue Recognition analysis and Program Margin review. ◦ Key involvement in preparing for the adoption of ASC 606.
• Oversee Sales Order Management function.
• Key involvement in Implementation of Deltek Costpoint with special focus on Project, Billing and Sales Order modules.
• Supervise one full time employee.
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•Sales/COS Gross Margin Analysis (By Product Line and Customer)
• Distribute a weekly "Dashboard" Report, which show the P&L and Balance Sheet summary and changes, along with explanations of the changes during the week.
• Manage and perform all Cost Accounting functions with the Cost Team
• Manage and perform all Accounts Payable with the A/P team
• Manage Fixed Asset Accountant
•Cost Variance Analysis (Purchase Price Variance, Standard Cost Variance)
•Prepare Consolidated Financial P&L (US and Canadian)
•Created a Budget / Forecast Model in Excel Includes P&L, Balance Sheet and Cash Flow
•Implement new Budgeting Software for FY 2001 yearly Budget
•Maintained and Create product lines for Financial Statement presentation
•Revenue Recognition for "Ship and Hold" Customers
•Maintain Financial Statements in the Expandable Software Program
•Calculate Royalties for Qualcomm and Various Other Software Companies
•Inventory Cycle Counting, and Full Physicals - Two Locations (San Diego, CA. & Calgary, Canada)
•Inventory Reconciliation (Book to Physical) - Over 25 Million Dollars of Inventory
•Perform E&O analysis on a Quarterly Basis
•Daily Tracking of Inventory Movement in the Operations Department
•Inventory Related Duties Including Analysis of: Fulfillment Bill of Materials, Back Flush Variances, Standard Costing, COS Impact
•Develop processes for the Operations Group to successfully transact inventory in a Financially correct way. Includes, Purchasing, Sales, Receiving, Shipping
•Analyze all open sales orders to determine project future Gross Margins
•Analyze open purchase orders along with A/P aging for cash forecasting
•Create an S&OP report used by the company to determine timing of purchases and future inventory balance
• Develop a Product Costing Model to forecast Gross Margins by Product line
• Analyze all COGS Accounts on a monthly basis to ensure accuracy of the Gross Margins
• Create a Warranty Model to Estimate future warranty costs on 20 different Product lines
• E&O Analysis using Lower of Cost or Market to determine the amount a Product line should be written off to be at Break-Even, taking into consideration all the Variable and Fixed cost associated with the sale of the product.
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16 years, 1 month at this Job
- Bachelor of Science - Business Administration/Accounting
• Responsible for all aspects of Accounting Management - Cost Accounting Group including Budgeting, Financial Statement preparation, reconciliations, financial analysis, training, software administration and Operations/ Production liason.
• Interim Controller for newly acquired business unit, responsible for the smooth transition of local on-site accounting roles, including Treasury, Budgeting, A/P, A/R, Inventory and Fixed Assets to the Corporate Accounting Group.
• Successfully contributed to new software conversion on time and within budget.
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1 year, 6 months at this Job
- Bachelor of Arts in Business Administration - Accounting
Leading the corporate cost accounting team to support the Manufacturing/Purchasing/Planning/DC/Branch/Route operations at various levels and coordinate month end close, spending analysis, Inventory and other BS reconciliations, PPV analysis, WOV analysis, BOM and routing analysis, quarterly cost roll, review monthly financials for various business units/cost centers/departments, continuous process improvements and management reporting by playing a key and challenging role with corporate transition from CA to TX. Work with IT/ERP team for various troubleshoot on sales update, special projects and testing, manage AAI tables..etc. Process improvement- study, design, test models, implement, training/cross-training and SOP. Provide all required documents and reports for internal audit, quarterly external audit and yearly bank audits.
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- MS in Accounting - Accounting
* Proposal Manager responsible for over $10M in proposal submittals and awards. * Point of contact for program startup activities, initial schedule and overall EVM activities. * Cost account manager responsible for the development, definition, and management of the scope, schedule, and budget for various Control Accounts on the C2BMC program
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- M.Ed. - Secondary Education
- B.S. - Computer Science and Mathematics
Review and maintain cost accounting records for manufactured products Improve cost accounting accuracy via improved manufacturing reporting
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11 months at this Job
- Master's - Business
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10 years at this Job
- B.S. - Accounting
Reviewed and monitored financial activities on the local plant level.
• Prepared plant annual budgets and monthly forecasts.
• Prepared and presented monthly financial results for CEO's operational review.
• Signed off on all major expenses affecting business unit.
• Maintained and reviewed automated costs systems (MAPICS).
• Developed and reviewed cost standards; analyzed manufacturing variances from standard.
• Developed inventory and costing procedures.
• Assured inventories were accurately and properly reported.
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4 years at this Job
- MBA - Finance
- BS - Accounting