Flowserve Corporation Project accountant - SOX in Mezzago, Italy
Flowserve is the recognized world leader in supplying pumps, valves, seals, automation, and services to the power, oil, gas, chemical, and other industries. With more than 18,000 employees in more than 55 countries, we combine our global reach with a local presence.
The primary function of the Project Accountant is to provide financial support and assistance for Flowserve’s Raleigh adaption to the new revenue recognition standards set forth under ASC 606.
This position will primarily be responsible for determining costs, transaction prices, and performance obligations in the 5 Step Revenue Process that begins at booking. In addition, this position will also be responsible for Contract reviews and the ability to perform transactions within ASC 606 reporting scope. This would also include:
The 5 Step Process is as follows:
1- Identify the contract with the customer
2- Identify the separate performance obligations in the contract
3- Determine the transaction price
4- Allocate the transaction price to the separate performance obligations
5- Recognize revenue when (or as) each performance obligation is satisfied
Additionally, this position will be heavily involved in assisting to meet the disclosure requirements of the new revenue standard. Potential Disclosure involvement includes the following:
• Determination of Potential Loss Position
• Presentation of Contract Assets and Contract Liabilities.
• POC accounting review and reporting. Disclosures reporting as it pertains to POC.
• Sales by Product Type (Original Manufacturer versus After Market) and Sales by Region
• Backlog by Date
There will be other responsibilities of the position as we move towards implementation of the new Revenue Recognition Standard.
Bookings and Backlog monthly reporting: Review monthly bookings / backlogs according to new standards.
SOX Control / Audit participation: Participate in regular performance, monitoring and testing of SOX controls, as well as assist in External and Internal Audits.
CIP approach: Identify, develop and implement process improvements including ERP / tool enhancements, etc.
• Bachelor’s Degree in Business, Finance or Accounting required . Advanced degree (MBA) or certification (CPA) preferred.
• Minimum of three–six years’ experience with general accounting with preference given to experience in a manufacturing environment.
• Good interpersonal, communication and presentation skills. Ability to multi-task and work on multiple tasks simultaneously.
•Must be a team player, who is committed to company and individual performance targets. Must be a self-starter and willing to ask questions when unsure.
• Experience with a large ERP system (Oracle/SAP) GL preferred. Intermediate to advanced excel spreadsheet skills required. Familiarity with BPC Reporting is a plus.
• Experience with CIP (Continuous Improvement Process). Able to work on cross-functional teams with minimal supervision.
• Works independently, able to ensure tight Corporate reporting deadlines are adhered to. Able to effectively communicate findings and concerns to management.
The Project Accountant shall learn and be able to perform monthly financial report generation using existing templates. Be able to learn the processes and devise new reporting tools to assist the monthly reporting process. Work closely with manager to ensure that accurate, timely data is used for qualitative analysis.
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Project accountant - SOX
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Finance & Accounting
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