Manager of Revenue Accounting

Public Relations Company is searching for a Manager of Revenue Accounting

 

This position is responsible for ensuring that revenue is ultimately recognized and reported in accordance with all relevant accounting pronouncements, IPG policies and procedures and the current requirements of the Sarbanes Oxley Act. The position is also responsible for supervising the local billing departments to ensure that billings are processed timely and in accordance with the terms of client contracts.

Reports To: The New York Regional Financial Director, with direct working relationships with the regional brand finance leaders and the Chief Financial Officers of those brands and dotted-line working relationship with the COMPANY Revenue Controller.

Roles and Responsibilities
Essential duties and responsibilities include, but are not limited to the following:

 Review and approval of the revenue recognition methods for assigned brands within the regional ?Control Hub?.

 Review and approval of all contract/job creation forms and related job status change forms to ensure that the revenue recognition and cost treatment methods and other related financial control information is correct, and consistently applied.

 Work directly with The COMPANY Business Affairs Group, IPG Legal Departments, and the Regional Finance Director to review and provide guidance as necessary relative to client contracts and to ensure that related financial sections of such contracts are drafted and executed in accordance with Corporate and IPG guidelines.

 Review and approve revenue recognition and cost methods for all interoffice and global projects. Ensure that ?lead and participating? office revenue recognition methods are correct, consistent and in accordance with Corporate policies and procedures.

 Work closely with financial leaders and revenue recognition specialists from the other regional Hubs and the COMPANY Corporate Revenue Compliance team to highlight ongoing revenue recognition issues and to assist in implementing best practices between the regional control Hubs. Provide ongoing training as necessary to all accounting and project staff on policies and procedures related to revenue recognition and reporting.

 Review and approval of monthly revenue recognition worksheets and Quarterly revenue recognition control templates.

 Liaise with external and internal audit teams and the Corporate Revenue Compliance group on relevant sections of such audits that affect revenue recognition and reporting.

 Supervise the billing coordinators in the local office?s

 Ensure that billings are processed timely by the billing coordinators and are in accordance with the terms of the related client contracts

 Train the local billing departments and provide ongoing support to the billers in resolving billing related issues and questions. Work closely with the SAP support teams in Minneapolis to bring resources to bear as necessary to resolve billing related issues in the local office?s

 Manage and administer the Client Contract Database.
Additional Skill sets and specific ?system related responsibilities? that will be required of the Revenue Accounting Manager:

The guiding principal is that in order for this individual to be able to identify issues and provide constructive and effective solutions to problems it is expected that he/she will be ?hands on? and will understand the relevant workings of the SAP system including but not limited to job set up and maintenance, the flow of transactions through the general ledger and a detailed knowledge of the revenue worksheet.

Following are examples of the detailed knowledge expected of the position

Job set up and Maintenance:

? Understanding Contract Maintenance and Job set up in SAP including sales order creation, master and affiliate job structure, segments, WBS elements etc.
? Billing rate file maintenance---understanding of the ?ZRAT? rate maintenance program and how it can be tailored to fit the requirements of a client contracts.
? Policies regarding Global vs. Target(Cross Brand) jobs. When are each appropriate to use when collaborating on client projects and how are they set up in SAP.
? Full understanding of the treatment of ?Data Take On? for ?converting? business units
? Job Status---Created, TECO, FNBL, Closing jobs etc.
? Understanding of policies and procedures relative to supporting forms and documentation?job opening, job change, revenue decision trees, etc.

Revenue Worksheet and the General Ledger:

? Detailed working knowledge of the revenue worksheet. Understanding of how everything ?hangs together? and ties to the appropriate control accounts in the General Ledger. Understanding of where other descriptive information comes from, such as contract values, revenue caps, cash basis indicators, etc.

? Complete understanding of all ?T-Accounts? relative to each of the available revenue recognition methods in SAP

? Understanding of policies regarding Gross vs. Net job types and how general ledger transitions are posted for each including treatment of incidentals

? WIP/Deferred Revenue subsidiary reports

Revenue Recognition

? Revenue recognition expert-Complete knowledge of all available revenue recognition methods, IPG and COMPANY policies, and when each one is appropriate. Liaise with COMPANY Legal to review relevant terms of contracts and validate the correct method. Understanding of policies and accounting treatment regarding rebates, incentives, etc.

? Credit Memos-when to use vs. bad debt and how transactions flow through the system and which revenue related GL accounts are affected.

The Revenue Accounting Manager will review and approve (validate) the following key tasks/processes:

? Job Opening Forms-validating the appropriate revenue recognition methods and cost types.
? Includes post execution review of contracts to review the relevant financial terms, approvals etc
? Job Change forms to support completion of milestones and completed projects
? WIP Write-offs
? Billing Rate modifications
? Monthly revenue worksheet
? Quarterly revenue template
? IPG Contract Review and Approval Form for all contracts greater than $1,000,000
? Credit Memos
? WIP > 90 Days Analysis
? WIP reserve calculation
? Proportional performance(% complete) calculations

Professional Requirements
 Minimum of 5+ year?s experience. Bachelor Degree; major in Accounting, Finance or Business
 Strong technical accounting background with internal controls/Sarbox and contracts experience
 Service industry experience a plus
 CPA with public experience a plus

 

PLEASE SUBMIT RESUMES TO tonya.sobhani@parkerlynch.com