A thriving environment for learning, innovation and growth.
Why do so many people join MTS Systems Corporation and stay for a career? Because this is a place where you get to apply your creativity, work with smart people on fascinating projects, and make a positive impact on people's lives. It is a place where you can learn, innovate and grow professionally.
Transforming what's possible with cars, aircraft, bridges, wind turbines and space-age materials - this is work we dream about as kids. At MTS, it's a rewarding career path for talented individuals who are willing to work hard, think hard, and commit to solving complex and critical challenges for our customers around the world, many of whom are leaders in their respective industries.
By joining MTS, you'll have access to the latest tools and technologies, along with the support of colleagues who are passionate about their work. You'll discover a dynamic culture of continuous improvement that extends to our people, one that offers numerous ways to expand your knowledge and advance your career. And because we are a global company, your work may also include world travel.
Primary Objective:
Responsible for performing accurate and timely accounting and reporting of complex Worldwide Revenue Recognition for Completed Contract (on shipment, on acceptance and on billing), Percentage-of-Completion and Costs in compliance with US GAAP. Analyze, identify, and resolve Revenue Recognition and Costing issues/exposures. Accountable to ensure that any/all changes to Revenue programs are accurate and in compliance with US GAAP. Develop/implement processes and system enhancements that promote proper Accounting and Revenue Recognition. Ensure SOX controls are appropriate and all SOX requirements are met.
Major Areas of Accountability:
Required to have intricate and current knowledge of US GAAP reporting requirements for Revenue Recognition for Completed Contract (includes on shipment, on acceptance and on billing), Percentage-of-Completion and Multiple Element Arrangements.
Manage Deferral of Revenue related to post-shipment (ON) process, ensuring process is correct and in compliance with GAAP and reporting numbers are accurate.
Communicate with Project Engineering to ensure understanding of proper Revenue and Cost recognition. Able to communicate/support a position of recognizing the correct Revenue Recognition when the business position may be different.
Advises foreign affiliates on correct revenue recognition requirements and entries.
Responsible for ensuring that project design and any changes in systems related to Revenue Recognition and Project Accounting deliver the functionality required for proper accounting treatment in compliance with US GAAP.
Responsible for detailed testing within the system to ensure all design changes have been implemented properly and that all revenue recognition and related Cost of Sales is captured properly.
Lead analysis and interpret Worldwide revenue at month end, quarter-end, and year-end to verify accuracy with US GAAP. Adjust revenue/cost as appropriate for accurate reporting.
Reconcile project related balance sheet accounts (WIP, Deferred/Unbilled, GR/IR etc.) on a monthly basis.
Perform and analyze detailed ad hoc reporting, as necessary. Prepare commentary on results by preparing detailed and complex excel spreadsheets.
Responsible for ensuring all SOX controls are adhered to.
Identify/recommend changes to improve/streamline/better coverage of SOX process.
Interface with internal auditors, providing information requested.
This position is the Subject Matter Expert (SME) and provides all information regarding revenue for the business and auditors.
Minimum Qualifications
Education: B.A. degree Accounting
Experience: Five plus years increasingly complex experience in accounting, with strong reporting and analysis, including knowledge of FASB requirements
Preferred Qualifications
Education: CPA, CMA, MBA
Experience:
SAP experience
Background in the ASC 606 Revenue Recognition Standard
Team lead or previous supervisory experience
Experience with current information technology in financial applications, both enterprise and PC based. Advance excel skills (beyond VLOOKUP's and Pivot tables).
#IND123
All your information will be kept confidential according to EEO guidelines.
ITW is an equal opportunity employer. We value our colleagues' unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential.
As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship.
All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.
ITW is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.
