Senior Financial Accountant

Company Description


We are Roskamp Management Company, a closely-held real estate development company located in Sarasota, Florida.  Roskamp Management Company (RMC) specializes in the development of continuing care retirement communities and also develops condominiums and medical office buildings.  RMC provides accounting and tax services for real estate leasing companies in which the RMC owners have equity.  RMC currently has projects under development or under management in Florida, Arizona and Pennsylvania.

Job Description

 

The Senior Financial Accountant provides the key financial reports and analyses that assist the principals to make decisions that will ultimately increase cash flow and maximize the “bottom line.”  The Senior Financial Accountant is charged with reporting accurate historical financial results and forecasting future financial results in a complete and concise manner.

 

Responsibilities, Goals & Objectives

 

1. Perform monthly general ledger closings

Responsibilities:

a) Review and analyze general ledger accounts.

b) Prepare and post journal entries.

c) Reconcile GL accounts to source documents.

d) Prepare supporting schedules for GL accounts.

e) Assemble reports, schedules and reconciliations into a complete and concise closing package for review by the Director of Accounting & Tax.



Goals & Objectives:

a) All GL account balances shall be stated at the correct value according to GAAP (or other basis, if applicable).  Applicable Statements of Financial Accounting Standards shall be applied to ensure that transactions are accounted for correctly.

b) With some exceptions, all GL account balances shall agree to some supporting document such as:

i. 3rd party statement (i.e. bank statement, loan statement, financial statement, GL account detailed reconciliation that ties to a 3rd party statement, any other document that provides validity)

ii. Internally prepared detailed supporting schedule (i.e. accounts receivable subledger, accounts payable subledger, depreciation lapse schedule, prepaid insurance schedule, statement of partners’ capital, etc.)

c) Design a monthly GL closing file for review purposes that includes financial statements and all supporting documents defined in goal b) above.  The GL closing file shall be complete and concise and organized in the same order as the chart of accounts.  The GL closing file shall be designed and assembled in a fashion that makes it easy for review.

d) The monthly general ledger closing process must be complete by the deadline established by the Director of Accounting & Tax.


2. Prepare monthly financial statements.

Responsibilities:
a) Prepare a balance sheet, income statement, statement of partners’ capital and statement of cashflows for each entity in accordance with GAAP or other basis of accounting, if applicable.

b) Assemble financial statements and other supporting documents in a financial reporting binder to be issued to principals and investors.

c) Prepare quarterly consolidated financial statements for Roskamp Management Company.



Goals & Objectives:

a) Present statements in a format consistent with GAAP (or other basis of accounting, if applicable) and in a summary level that is meaningful to the readers of the financial statements.

b) Issue the financial statements by the deadline.

c) Establish deadlines for property managers and 3rd-party accounting managers to submit their reports to us for inclusion into our financial statements.  Resolve any questions or inconsistencies on their reports directly with them and enforce the deadlines.

d) Review supplemental reports such as rent rolls, unit statistics reports, delinquency reports and reconcile them to financial statements.

e)Review the partner books before they go out to ensure the correct statements and supplemental reports are in the books and to ensure that the statements and supplemental reports are in the correct sections of the books.

 

3. Evaluate and redesign the financial forecast and budgeting system.  The financial forecast and budgeting system shall be designed in a manner that most effectively and efficiently assists senior managers and principals to make decisions that will ultimately result in the achievement of the project’s overall business objectives.



a) Design a standard financial forecast pro forma and that estimates cash receipts and disbursements by category.  Using the standard financial forecast pro forma, design a report for each project and gain approval of the format from project managers.

b) Write procedures for preparing and updating forecasts.  The procedures must identify the following: 1) responsible parties for each category in the forecast, 2) deadlines by which each responsible party must complete their assignment, 3) how information prepared by each responsible party shall be submitted 4) how actual cost data shall be entered into the forecast, 5) deadline for issuing a draft report, 6) deadline for review and approval of the report, 7) deadline for issuing the final report.

c) Update financial forecasts each month and write an analytical narrative to accompany the report.  Research and analyze significant variances between actual income/costs and budgeted income/costs and provide an explanation for these variances.  Describe the major changes since the last forecast.  Provide a description of how the largest items on the report were estimated.  Bring to management’s attention any problems or potential pitfalls that could negatively impact the success of the project.

d) Prior to issuance of a forecast, it must be approved by the Director of Accounting & Tax.  Design a forecast file for review purposes that includes all supporting documents used to prepare the report and analysis.  The file shall be complete and concise and assembled in a fashion that makes it easy for review.

e) Enforce deadlines for all responsible parties.  Challenge estimated income and costs provided by responsible parties.  Challenge the assumptions used to calculate the estimated income and costs.  Take ownership of the forecast and critically analyze all data that go into the report.

 

4. General responsibilities 

a) Facilitate financial audits.

b) Maintain the general ledger chart of accounts.

c) Provide instructions to staff and write policies and procedures to ensure proper coding of transactions.

 

Requirements

 

1. Bachelor Degree in Accounting (CPA, CMA or MBA are preferred, but not required)

2. Minimum 4 years experience in all or most of the accounting functions described above.

3. Auditing experience with a national or regional accounting firm is preferred, but not required.

4. Excellent understanding of Generally Accepted Accounting Principles (GAAP)

5. Ability to apply accounting principles defined in the following Statements of Financial Accounting Standards

a) SFAS No. 66, Accounting for Sales of Real Estate

b) SFAS No. 67, Accounting for Costs and Initial Rental Operations of Real Estate Projects

c)SFAS No. 13, Accounting for Leases

d)SFAS No. 34, Capitalization of Interest Costs

e)SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets

f) SFAS No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities

g)SFAS No. 5, Accounting for Contingencies

h)Any other Statements of  Financial Accounting Standards, APB Opinions, AICPA Accounting Research Bulletins or other pronouncements applicable to transactions for which we report.

6.Strong analytical skills, both quantitative and qualitative

7.Ability to overcome ambiguity and solve problems

8.Intermediate or advanced Excel skills

9.Ability to work with others to achieve results