Job Information
L3Harris Sr. Accountant, Revenue Recognition in Waterdown, Ontario
Senior Accountant, Revenue Recognition
Ref #: 15803
Location: Waterdown, Ontario
About L3HARRIS WESCAM
As a subsidiary of L3Harris Technologies and within the Integrated Mission Systems Segment, the WESCAM division develops the most advanced optical sensor and targeting systems for global defense and military sectors, National Security, Search & Rescue and Airborne law enforcement agencies. From long-range covert surveillance missions to search and rescue operations, our MX-series systems, and the mission systems solutions they are a part of, produce stabilized high-magnification electro-optical and infrared images from airborne, marine and ground based platforms, enabling our customers to see first and act first.
About the Role
We are currently seeking a detail oriented and energetic team player to support the growth of our business. You will be responsible for all aspects of revenue recognition reporting and act as a true business partner to the business. This is a diverse position that would be appealing to a self‐starter who enjoys a varied workload and the opportunity to apply their knowledge in differing business environments. The position provides accounting functions in support of the preparation of monthly, quarterly and year-end general entries and financial reports. This is an exciting opportunity for someone to take true ownership of this area of expertise for L3Harris WESCAM’s finance team.
Primary Responsibilities
Determine the recognition of revenue under ASC 606 / IFRS 15
Review customer purchase orders to determine Revenue Performance Obligations & Revenue Recognition Criteria for each and:
for larger orders, complete Contract Review Worksheets (CRWs) and submit for internal and corporate approvals
for smaller orders, summarize conclusions on a rolling, high level worksheet for internal approval on an ongoing/regular basis
Assist in compiling documentation to support price, quantity and revenue recognition criteria related to revenue recognized in the month
For Point in Time Revenue: Verify that all revenue recognition criteria is satisfied, then gather and analyze the Cost of Sales information and record Revenue and Cost of Sales
For Overtime / Cost to Cost Revenue: Gather the Actual Costs and the estimated Margin and calculate the Revenue to be recognized
Compile monthly Revenue reports
Prepare a monthly report of the Revenue and Cost of Sales to be recorded in the GL. Reconcile the report to the final monthly results in the ERP system
Quarterly variance Analysis of Product vs. Service for Revenue and Cost of Sales
Prepare Balance Sheet Reconciliations for
Unbilled Accounts Receivable
Deferred Revenue
Third Party Commissions
Others as needed
Understand and follow the SOX controls and L3Harris Corporate Policies related to Revenue Recognition
Liaise with internal auditors, external auditors and Corporate Office and provide financial data where necessary
Collaborate with other business departments on business matters relating to Revenue, including Program Managers, Demand group, and Contracts department
Participate in monthly forecast for Revenue, Cost of Sales and Cash Flow
Research US GAAP in relation to Revenue and recommend conclusions
Complete quarterly Net Realizable Value (NRV) Contract Asset and Liability workbook for Corporate Office
Assist to complete “Bill-and-hold” (ie. “Ship-In-Place”) analysis templates, and ensure proper documentation and criteria are achieved prior to submission for internal and Corporate Office approval
Ad hoc tasks and continuous improvement projects
Required Capabilities
Determine the recognition of revenue under ASC 606 / IFRS 15
Expert in US GAAP (In Particular Revenue Recognition- ASC 606/ IFRS 15)
A focus on continuous improvement
Time management and organizational skills
Experience in a Public company environment or Auditing Public companies
Outstanding analytical and problem solving skills
Ability to develop strong working relationships with related key managers and support staff
Advanced Excel skills
Attention to detail
Excellent written and verbal communication skills
Excellent ERP navigation skills
Knowledge of ERP LN is an asset
Desired Education and Experiences
CPA/CA/CMA/CGA or equivalent, or actively pursuing a CPA designation
Requires strong knowledge of job area typically obtained through advanced education combined with experience.
Typically viewed as having a specialty within discipline.
May have broad knowledge of project management.
Bachelor’s Degree and minimum 6 years of prior relevant experience or Graduate Degree and a minimum of 4 years of prior related experience.
Experience at an Accounting Firm or in an Accounting department at a Public or Private Company
L3Harris Technologies is proud to be an Affirmative Action/Equal Opportunity Employer. L3Harris is committed to treating all employees and applicants for employment with respect and dignity and maintaining a workplace that is free from unlawful discrimination. All applicants will be considered for employment without regard to race, color, religion, age, national origin, ancestry, ethnicity, gender (including pregnancy, childbirth, breastfeeding or other related medical conditions), gender identity, gender expression, sexual orientation, marital status, veteran status, disability, genetic information, citizenship status, characteristic or membership in any other group protected by federal, state or local laws. L3Harris maintains a drug-free workplace and performs pre-employment substance abuse testing and background checks, where permitted by law.
L3Harris
-
- L3Harris Jobs
