What are the responsibilities and job description for the Technical Accounting Manager position at Conexus?
We are exclusively representing our client, an exciting, high-growth Aerospace & Defense company based in the South Bay of Los Angeles, in hiring a Technical Accounting Manager.
Responsibilities include:
- Review and assess customer contracts to determine the appropriate accounting treatment under U.S. GAAP, with a primary focus on revenue recognition in accordance with ASC 606.
- Evaluate key contractual provisions, including performance obligations, transaction price, billing milestones, customer acceptance requirements, contract modifications, and variable consideration.
- Determine the appropriate timing and method of revenue recognition, including assessments of point-in-time versus over-time recognition and applicable measures of progress.
- Analyze milestone-based billing arrangements to ensure consistency among contractual billing requirements, revenue recognition, invoicing, and accounts receivable.
- Draft and maintain technical accounting memoranda documenting significant accounting conclusions and supporting the application of U.S. GAAP.
- Research and interpret accounting standards and guidance for complex, unusual, or non-routine transactions, including matters beyond revenue recognition.
- Monitor contractual billing milestones and coordinate with relevant teams to support timely invoicing and accurate accounts receivable activity.
- Partner with Billing and Program teams to investigate and resolve differences between contractual requirements, revenue recognition, and customer invoices.
- Analyze contract-related balance sheet accounts, including contract assets, contract liabilities, unbilled receivables, and deferred revenue.
- Perform and support reconciliations associated with customer contracts, milestone billing, and related accounting activity.
- Assist with monthly, quarterly, and annual financial close processes, including preparation of journal entries, account reconciliations, and financial reporting support.
- Maintain and monitor general ledger accounts within assigned areas of responsibility.
- Review balance sheet accounts to ensure accuracy, completeness, and appropriate accounting treatment.
- Support internal and external audits by preparing requested schedules, analyses, reconciliations, and supporting documentation.
- Assist in developing, updating, and enhancing accounting policies, procedures, and internal controls.
- Identify opportunities to streamline contract accounting, improve contract review processes, and increase month-end close efficiency.
- Support the implementation of process improvements and initiatives designed to strengthen internal controls over financial reporting.
- Provide technical accounting support, guidance, and training to internal stakeholders as needed.
- Participate in ERP and financial systems initiatives, enhancements, and implementations impacting contract accounting, billing, and financial reporting.
Qualifications:
- Bachelor's degree in Accounting or Finance
- Strong knowledge of U.S. GAAP, with demonstrated experience applying ASC 606 Revenue Recognition to complex customer contracts.
- Excellent written and verbal communication skills, including the ability to explain technical accounting concepts to non-finance stakeholders.
- CPA license or active progress toward CPA (Preferred)
- Public Accounting foundation (Preferred)
- Aerospace & Defense industry experience or exposure (Preferred)