Vaco
Job title:
Senior Manager – Project Accounting
Company
Vaco
Job description
About the Company
Our client is a private property development company. They are looking for a Senior Manager – Project Accounting to join a dynamic team environment.Why Work Here
- Lots of opportunities to grow within the company
- Great area and space to work in
About the Opportunity
- Manage and oversee the full accounting cycle for multiple development projects.
- Perform timely month-end close and ensure recording all pertinent transactions including setting up of monthly accruals and properly document journal entries
- Perform regular bank, trust deposit and loan reconciliations
- Review and preparation of receivables and ensure timely collections
- Monthly reconciliation of intercompany accounts
- Monthly review of projects’ trial balances and maintenance of key schedules for letters of credit, loan amortizations, other and accrued liabilities, and equity roll; and ensures that all control accounts are reconciled to the subsidiary ledgers
- Manage cost ledgers for any misclassification of costs and record required cost accruals (invoices, interest, cost to complete, etc.)
- Record acquisition entries and analyze joint venture and management agreements
- Monitor the purchase order and contracts with change orders are in line with the commitments and budgets and processes are maintained.
- Prepare monthly draw requests (equity cash calls, deposits, and/or construction loan), coordinate, and respond to project monitor inquiries
- Maintain ongoing analysis of project budgets on a pro forma basis
- Cost variance analysis and accruals
- Track and analyze joint venture fees
- Recording of loan proceeds and ensure completeness of back-up information
- Manage home closing process and bank loan pay-out
- Review of purchasers’ files, prepare the interim and final closing worksheets, coordinate and approval of Statement of Adjustments, and post sales
- Record unit closing entries and loan payments
- Calculate cost of sales allocation on closed units, and cost-to-complete accruals
- Prepare cashflow forecast including waterfall distribution (return of capital and cash distribution)
- Reconcile property taxes by unit and calculate purchasers’ tax refund, if any.
- Facilitate mortgage and construction financing and maintain schedules.
- Manage projects’ reporting
- Prepare financial reports for submission to internal and external partners
- Assist in compliance reporting to lenders and government
- Monthly filing of projects’ HST return
- Prepare year-end working papers, review adjustments, and manage audit requirements
- Administration and process improvements
- Set up project budgets, change orders and estimates in the accounting system, as well as implement control and maintenance activities including the PUD accounts.
- Coordinate with the operations and other teams to process monthly property financials (i.e. invoice coding, purchase orders, project details and variance analysis) as needed.
- Identify and implement process re-engineering opportunities
- Ensure compliance with Generally Accepted Accounting Standards (IFRS and ASPE), internal audit and client accounting services and internal review standards.
About You
- 5+ years in project, development, and construction accounting as a manager.
- Experienced with construction draws and project closures.
- Worked with small to mid-sized developers.
- Proficient in real estate software (ex. JDE, Newstar, Yardi).
- Supervisory experience
- CPA is very nice to have
- Presentation experience
Salary Range
$130,000 – $140,000/yearHow to Apply
Click the “Apply Now” button and follow the instructions to submit your resume. Please know that we only accept documents in MS Word or Rich Text formats.
When referencing this job, quote #427283.You must currently reside within the Greater Toronto Area and be permitted to work in Canada to be considered for this opportunity. A recruiter will be in touch with you if your profile meets our client’s requirements for this role.
Expected salary
$130000 – 140000 per year
Location
Toronto, ON
Job date
Thu, 24 Oct 2024 05:39:34 GMT
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