U.S. GAAP Senior Accountant
The Senior GAAP Accountant will support the Controller primarily by using expertise in U.S. GAAP to ensure the Association’s books and records and internal control structure is in compliance with accounting standards.
Additionally, the Senior GAAP Accountant will assist with other accounting and finance tasks as well as not-for-profit tax issues and filings.
This position reports to Controller and is based out of our Chicago downtown office.
ESSENTIAL JOB FUNCTIONS:
- Lead the Association’s compliance with U.S. GAAP accounting standards:
- Ensure proper implementation of revenue recognition standards (ASC 606 and ASU 2018-08).
- Ensure processes and procedures are in place to properly evaluate new revenue and contracts
- Create/update documentation related to new revenue and contracts processes and procedures
- Serve as a resource for revenue recognition questions from all Association staff
- Prepare to implement Lease accounting standard (ASC 842); Cloud Computing Arrangements capitalization; and new accounting standards as developed by FASB
- Update Audited Financial Statements to include all proper disclosures related to current and new accounting standards
- Support the Controller and Assistant Controller with the following ongoing accounting and finance areas:
- Valuation of in-kind revenue and expense for program volunteers
- Functional Expense allocation model
- Implementation of new accounting ERP and CRM
- Ensure revenue recognition standard functionality is properly applied to the extent possible
- Banking and treasury functions
- Reconciliation of Association bank accounts to the General Ledger
- Perform monthly journal entries and balance sheet reconciliations for other Home Office asset and liability accounts
- Association’s annual external audit and any internal audits related to the Finance department.
- Resolving Chapter and Home Office questions/issues pertaining to AP, cashiering, deposits, coding questions, monthly reconciliations, etc.
- Assist Senior Director, Finance & Tax with the following tax compliance issues, as needed:
- Parking and transit taxes
- Excise taxes
- Form 990
- Sales and Use taxes
- Become familiar with Association software, specifically Sage 500, BI-360, Blackbaud Merchant Services, and Team Approach.
- Other projects as required.
- Determine tasks priority for self and staff.
- Exercises good judgment in identifying and then escalating unusual accounting issues to the proper staff member.
- Work and communicate collaboratively with other staff, most notably the Controller and Transactional Accounting Manager.
- Bachelor’s degree in accounting or finance from accredited university
- Minimum 5 years of relevant experience in accounting related roles
- Strong knowledge of U.S. GAAP accounting standards, specifically revenue standards ASC 606 and ASU 2018-08
- CPA preferred
- Non-profit experience preferred
- Familiar with large accounting software
- Proficient with Microsoft Excel
- Recognize and resolve accounting discrepancies
- Excellent organization skills and problem solving abilities
- A self-starter who is proactive versus reactive and action oriented with a strong desire to achieve desired results
- Ability to work collaboratively with employees at all levels