Senior Manager - Revenue and Inventory

Our client in the West Suburbs of Chicago is looking for a Senior Manager/Controller specializing in Revenue & Inventory.

Onsite, up to 160K (plus bonus), DOE

Responsibilities:

Revenue Accounting:

• Lead the implementation and ongoing compliance with ASC 606 revenue recognition standards across the company, ensuring all revenue transactions are properly recognized and classified according to the standard.
• Work with Director of Accounting to develop, implement, and maintain policies and procedures for revenue recognition in compliance with ASC 606, ensuring accurate review and interpretation of contracts.
• Ensure proper classification of revenue streams, especially for complex arrangements involving product sales, services, and subscription-based revenue.
• Oversee the preparation of journal entries related to revenue recognition, ensuring proper accounting for deferred revenue, accrued revenue, and revenue adjustments.
• Ensure that revenue entries are processed accurately during the month-end close, reviewing and reconciling accounts to ensure completeness and accuracy.

Inventory Accounting:

• Oversee the inventory accounting process ensuring the accurate valuation of inventory and the management of costing methodologies (e.g., FIFO, LIFO, or weighted average) in alignment with GAAP.
• Work closely with supply chain and operations teams to ensure accurate inventory data tracking and reporting, including provisions for excess, obsolescence and shrinkage.
• Manage the reconciliation process ensuring that revenue and inventory data are accurately transferred between the systems, especially during month-end close.
• Ensure proper cut-off procedures are followed to ensure transactions are recorded in the correct accounting period in both systems.
• Collaborate with IT and operations teams to troubleshoot and resolve discrepancies between IBS and Oracle, ensuring accurate financial reporting.
• Define and implement key controls between the two systems to ensure smooth data flow, accurate reporting, and regulatory compliance.

Audit Coordination and Compliance:

• Help manage both internal and external audit requests related to revenue and inventory accounting, ensuring that all supporting documentation is complete, accurate, and compliant with auditing standards.
• Lead the documentation and preparation of audit schedules for revenue and inventory transactions and ensure all necessary information is readily available for auditors.

Cross-functional Collaboration and Process Improvements:

• Collaborate with FP&A and as needed with sales and operations teams to align business strategy with accounting policies for revenue and inventory.
• Collaborate with the Credit and Collection team to ensure compliance with CECL standards and the proper maintenance of the allowance for bad debt.

Leadership and Staff Development:

• Lead and mentor the revenue and inventory accounting team, ensuring they have the knowledge and tools to effectively manage revenue recognition and inventory accounting processes.

Qualifications:

• Bachelor’s degree in accounting, Finance, or a related field. Preferred CPA or equivalent certification.
• 7+ years of accounting experience with a focus on revenue recognition, inventory management, and cost accounting.
• Expertise in ASC 606 and revenue recognition standards, with a deep understanding of inventory accounting and costing methods.
• Experience working with financial systems; Oracle GL and IBS (AS400) a Plus.
• Strong ability to resolve system discrepancies and manage complex reconciliations, especially cut-off issues.
• Occasional travel may be required for site visits, cross-functional meetings, or audit coordination.

Benefits:

Full package of health, dental, and vision insurance

401(K)

Paid Time Off (PTO)

Brilliant is an Equal Opportunity Employer and encourages applications from all individuals regardless of race, color, religion, gender, gender identity, sexual orientation, national origin, disability, or veteran status.

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