USA Thornton Tomasetti, Inc. - New York, NY
posted about 2 months ago
The Revenue Accounting Manager at Thornton Tomasetti plays a crucial role in overseeing the company's revenue recognition processes within a project-based engineering consulting environment. This position is responsible for ensuring the accuracy of revenue reporting, enhancing financial controls, and optimizing processes to align with Generally Accepted Accounting Principles (GAAP) and internal policies. The ideal candidate will possess a strong background in revenue recognition, accounting principles, financial reporting, and analysis, along with excellent communication and interpersonal skills to effectively collaborate with business leaders, project managers, and the accounting team. In this role, the Revenue Accounting Manager will manage and oversee the revenue recognition process in accordance with applicable accounting standards, such as ASC 606, and will be responsible for Work In Progress (WIP) management for Time and Materials projects. The manager will ensure the accurate and timely recording of revenue transactions, oversee the preparation and review of revenue recognition journal entries, and conduct reconciliations of project balance sheets and analyses. Additionally, the manager will prepare and review monthly, quarterly, and annual revenue and project-related reports, analyzing revenue and project profitability trends to provide insights and recommendations to project managers and senior executives. The position also involves reviewing client contracts, agreements, and project plans to ensure proper revenue recognition, ensuring compliance with internal policies and external regulations, and implementing and monitoring internal controls related to revenue accounting to prevent errors. The Revenue Accounting Manager will assist with external audits by providing necessary documentation and explanations regarding revenue accounting practices and transactions. Furthermore, the role includes identifying opportunities for improvements within the revenue accounting function and implementing best practices to enhance efficiency and accuracy. Collaboration with project managers and billing executives is essential to assist with financial project management and ensure proper revenue recognition, as well as partnering with the Accounting, Financial Planning and Analysis, and Billing teams to foster a collaborative and high-performance team environment. Finally, the manager will collaborate with the financial systems team to ensure the system is functioning properly and efficiently, leading efforts to automate revenue recognition and reporting processes.