Senior Accountant

Location:	Central Toronto, Toronto, Ontario, Canada
Job Type:	Contract
Posted:	9th Feb 2007
Closing Date:	9th Apr 2007
Posted By:	Creative Financial Staffing
Details:
Senior Accountant Philips Medical Systems A leader in Healthcare, Philips Medical Systems is one of the world’s top three medical device companies. Our mission is to improve the quality of people’s lives. Our focus areas include imaging systems, customer services, information and monitoring systems. We enjoy a number one position in several of these including X-ray, cardiovascular ultrasound, patient monitoring and automatic external defibrillators. Our HeartStart Home Defibrillator brings life-saving technology to consumers in their own homes, where the majority of sudden cardiac arrests occur. It’s just one of the many ways we deliver ‘advanced’ technology that is ‘designed around you’ and ‘easy to experience’. Finance & Accounting: This position is responsible for ensuring the accuracy, timeliness, integrity and quality of Philips Medical Systems Canada accounting data, financial statements, SRF’s (Standard Reporting Forms) and other reports including ensuring appropriate application of and compliance with Generally Accepted Accounting Principles (GAAP), Financial Accounting Standard Board (FASB), International Financial Reporting Standards (IFRS) and Philips Accounting Policies (PAP). Implement change to the accounting and reporting organization, systems and processes. Facilitate information to all the internal and external customers by providing timely, accurate and relevant financial information. ACCOUNTING AND REPORTING: Service Revenue • Weekly service revenue reconciliation and preparation of gross margin report • Reconciliation of custom reports with break-down by region, balancing and investigating. • Tracking and releasing deferred revenue. • Biomed, service contract, extended warranty tracking, turnkey investigation, analysis of unallocated of profit centers. • Pending revenue recognition • Assisting Business with reporting requirements. Install/Warranty • Install, warranty and field change order recoveries. • Monthly warranty analysis and true up, quarterly install analysis and true up • Working with Service business officials to verify install/warranty provisions. Inventory • Analysis of work-in-progress, purchase price variance, service parts, equipment, demo, obsolescence reserves, demo amortization. • Releasing amortization for sold demo inventory. • Ensure timely and accurate recording of settlements from work-in-process to cost of goods sold • Auditing and analysis of cycle counts at TNT and White Glove warehouse. Material Master Maintenance • Annual revaluation of equipment and parts. • Ensure timely and appropriate pricing uploads for features and options. • Local standard costing, ensures all Material Master cost fields are accurate, product hierarchies. • Investigates and resolves, as needed, any unusual costs showing on Gross Margin reports • Demo and trade in unique part creation. Preparation of the monthly, quarterly and annual financial statements and reports. Perform related aspects of general ledger accounting, including journal entry preparation and reconciliations Follow all aspects of month-end close activities and meet deadlines. Coordinate with the internal and external auditors in putting together all the information/back-up requested and assist them for Sarbanes-Oxley review. FINANCIAL ANALYSIS Monthly analysis of the GL accounts, point out inconsistencies, if any and take corrective action. Review financial statements for period over period changes and taking corrective action, as approved by the Controller. Perform account reconciliations in accordance to the internal control guidelines. Facilitate departmental heads review and provide answers to the questions/back-ups etc. Review purchase contracts and perform relevant ICS testing. INTERNAL CONTROL Perform internal control activities: responsible for ensuring that appropriate transaction level controls are designed and operating effectively in accordance with SOX 404. Perform quarterly testing of assigned internal controls. Track Philips ICA and Quality ranking. PROCESS IMPROVEMENT Participate in the planning and testing of the processes and system changes. Coordinate with SAP teams in US for system support and related issues. Develop and review changes in the procedures and process flows for the accounting activities. OTHERS Handle special projects, responsibilities and other duties as assigned by Controllers and Director-Finance. Your Profile: Bachelors Degree in Accounting Preferably near completion of CGA accounting designation. Subject-matter expertise of US, Canadian GAAP and IFRS. 6+ years of private accounting preferably with service revenue and inventory experience. Organized with an ability to balance multiple projects in a fast paced environment. SAP user. Extremely proficient in MS Office applications. Strong cross-functional relationship skills: must develop and maintain working relationships with other departments, ICS team, internal and external auditors and SOX auditors

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