Sr Accountant Leases and Capital Assets

2 weeks ago

Austin, United States Kendra Scott Full time

About Kendra Scott
We are a fashion-lifestyle brand of big dreams, colorful confidence, and inspired design. Founded on Family, Fashion and Philanthropy, we believe that our employees and customers are the heart and soul of our brand, and that giving back is the truest form of success. Fashion meets innovation in the design of our two state-of-the-art facilities based in the heart of Austin, Texas, and overflows into the design of our growing retail environment across the country.

Position Overview:
The Senior Accountant is a member of the Finance team and reports to the Assistant Controller. The primary responsibility is to support the accounting for capital assets (PPE and internal-use software) and leases (ASC 842), and to ensure financial goals are achieved while supporting overall company initiatives. All below responsibilities are for specific categories owned.

Responsibilities:

Capital Assets

  • Oversee the accounting for all capital assets, including PPE and Internal-Use Software within Oracle's Assets application and ERP system.
  • Responsible for reviewing and approving invoices according to capital policy and ensuring asset tagging is consistent with defined reporting.
  • Collaborate with internal teams on tracking of assets from purchase to warehouse to final in-service locations. Ensure external warehouse inventory records match internal on hand values.
  • Track store open dates and subsequent changes for remodels, relocations, conversions, etc. to ensure appropriate start dates and useful life in accordance with Company policy.
  • Ensure internal-use software projects meet capitalization requirements per GAAP and have sufficient documentation per Company policy.
  • Conduct interviews with department leaders and perform analytics to identify and record disposals, abandonments, and impairments, as needed.
  • Perform monthly close activities and balance sheet reconciliations, record depreciation and amortization, and confirm accurate net book value reported on Company's balance sheet.
  • Enforce the Company's capital policies in accordance with GAAP; ensure policy is updated, as needed, for new and changing technical guidance.
  • Prepare monthly reporting for business leaders using attributes and asset tagging to understand performance on defined KPI's.
  • Key contributor with cross-functional teams on budget planning and cash forecasting activities related to capital spending.

Leases
  • Own all lease related accounting activities within AMT (842 lease application) and ERP system.
  • Complete ASC 842 assessment for new and amended lease agreements, in accordance with Company policy and GAAP.
  • Review monthly rent check run and coordinate payment with the AP team; includes 150+, leased spaces and expected to grow year-over-year
  • Review and approve monthly sales data for percentage rent calculations and ensure payments are in accordance with lease terms such as breakeven point, etc.; coordinate monthly payment with the AP team.
  • Perform month end close activities for additions and modifications in line with the related executed agreement and update lease accounting system (AMT) to reflect proper accounting treatment.
  • Extract 842 reports from AMT and perform balance sheet rollforwards; review right-of-use assets and short-term and long-term lease liabilities, and tenant improvement incentives, for accurate classification and accounting treatment. Report month-over-month variances to leadership.
  • Key contributor with cross-functional teams on P&L and cash forecasting.

Audit/Other
  • Ensure proper internal control systems in place to prevent and detect errors in financial reporting associated with functional areas
  • Own and update, as needed, relevant Company policies to ensure in line with GAAP
  • Support audit over functional areas by providing supporting schedules and explanations to external auditors
  • Propose scalable solutions and manage projects to build efficiencies and internal controls within the department and cross-functionally
  • Assist Manager on any other related accounting tasks, as needed

Our Ideal Candidate Will Have:
  • Bachelor's degree in accounting or finance or equivalent experience
  • CPA Certification preferred
  • 4+ years of experience with capital accounting for a high-growth company
  • A proven ability to execute with consistent delivery and reprioritize based on evolving business needs
  • Must be quick learner on different systems: QAD (ERP), Oracle (Assets), Salesforce (Ecommerce), AMT (lease accounting software)
  • Must be highly skilled in dealing with financial and numeric data
  • Must be highly skilled in use of Excel spreadsheets
  • Must be able to deal with ambiguity and make judgment and recommendation for solutions
  • A strong ability to build cross functional partnerships and work collaboratively
  • A growth mindset: desire to learn, grow and embrace new ideas
  • A shared appreciation for our 3 core values of Family, Fashion and Philanthropy

We are an equal opportunity employer and value diversity at our company.

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