PURPOSE AND SCOPE:
The Sr. Accounting Analyst is responsible for overseeing the accounting and reporting functions of the Company's lease administration function. Serves as subject matter expert on the accounting for leases under IFRS and US GAAP and provides support and training to business partners of the lease administration department throughout the organization.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Works closely with the project management office and various finance teams during the transition from straight-line accounting to the new accounting standards using the Lucernex (Lx) tool, with a focus on coordinating activities for the initial ROU asset and liability calculations.
Works closely with lease abstractors to ensure they are educated on technical accounting requirements, ensuring abstractions accurately capture all the relevant information to properly determine the values of the ROU assets and liabilities.
Validates ROU assets and liability calculations under ASC 842 and IFRS 16
Coordinates all ROU asset adjustments required at the commencement of the lease term for "non-base rent" costs. Such adjustments include: (1) incentives received by the lessor; (2) initial direct costs incurred by the lessee; and (3) estimated costs for dismantling removing and restoring. In addition, works with the finance centers to ensure purchase accounting adjustments are accurate reflected in the ROU asset calculations.
Coordinate with various finance centers reclassifications required under the new accounting standards for ROU assets that are purchase after purchase options have been exercised. Ensure ROU assets and Fixed Assets are adjusted, accordingly.
Key liaison between Centralized Lease Administration (CLA) and the corporate consolidations team for monthly, quarterly and annual financial reporting requirements, using the Lucernex tool.
Back up for lease analyst for payment and accounting related processes.
Performs sensitivity analysts, when required.
Coordinates system integration files for accounting journal entries relevant to the new accounting standards.
Works closely with the Sr. Manager and Sr. Director to assist the non-SAP integrated divisions with month end close, ensuring that their journal entries posted agree to the Lucernex tool.
Works closely with CLA management and corporate accounting policies team to train and educate the organization on lease related accounting matters.
Works closely with the division finance teams to reconcile ROU assets and liability balances, when needed, providing the reports from Lucernex necessary to support month end balances.
Recommend opportunities for process improvements and works with CLA management to implement new procedures.
Maintain and build relationships with finance center personnel and business partners to support the accounting close process.
Works closely with CLA Sr. Manager to document and prepare policies and procedures.
Trains both internal and external department employees throughout the organization on the Lucernex tool.
Other special duties as assigned.
Additional responsibilities may include focus on one or more departments or locations. See applicable addendum for department or location specific functions.
Fresenius Medical Care