FARO is an imaging company - and an imagining company. We envision a better, more insightful, and more powerful world realized through digital 3D means and measurement technologies. Right from the start, we have helped our customers make better decisions - faster and more accurately than anyone else in the industry.
We work with the largest companies on the planet to provide the solutions that enable them to overcome their most pressing industry challenges. In aerospace and automotive, we work with firms like SpaceX, NASA, Tesla and Volvo among others. In the construction industry, we work with the largest builders to scan and design astonishing projects. For public safety professionals, our forensics scanning tools solve crimes and document scenes with high tech gear you probably see on CSI and in the movies!
We believe that if it can be dreamed it can also be measured. And if it can be measured, it can also be realized.
The Sr. Manager / Manager - Revenue and Cost Accounting Role is a key member of our finance leadership team that plays a critical role in ensuring accurate financial reporting, optimizing gross margins, and managing relevant audits.
**This position requires a deep understanding of US GAAP and functional expertise in global accounting processes. **
This position will be a hybrid position based out of our Lake Mary, Florida office or our Atlanta, Georgia office.
Key Responsibilities:
Revenue Accounting:
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The Revenue Accounting Manager must be well-versed in ASC 606, the accounting standard that governs revenue recognition. They should understand the five-step model for recognizing revenue from contracts with customers.
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Review and analyze customer contracts to determine the appropriate revenue recognition method (e.g., over time or at a point in time).
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Monitor deferred revenue balances and recognize revenue as services are delivered or products are shipped.
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Establish and manage revenue reserves (e.g., for returns, cut-off analysis, extended warranties).
Cost Accounting:
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Manage accounting for the company’s Cost of Goods Sold (COGS) and Inventory functions.
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Calculate and analyze COGS components, including warranty and inventory reserves, price variances, standard cost changes, and intercompany profit eliminations.
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Manage critical reserves like Excess and Obsolete (E&O) and Purchase Price Variance (PPV).
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Monitor and coordinate cycle counts to maintain an accurate perpetual inventory ledger.
Financial Reporting:
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Monthly Close: Lead the monthly close process related to revenue and cost accounting. Ensure all margin-related journal entries are accurate and complete.
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Reconciliation: Review relevant accounts, including deferred revenue, unbilled receivables, warranties, and inventory adjustments.
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Financial Statements: Prepare revenue-related and inventory-related disclosures for financial statements (e.g., revenue breakdown by product line, geographic region, etc.).
Cross-Functional Collaboration:
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Sales and Legal Teams: Collaborate with sales and legal teams during contract negotiations to ensure revenue recognition aligns with contract terms.
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Audit Support: Assist external, statutory and internal auditors by providing documentation and explanations for responsible areas.
Team Leadership:
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Foster a positive work environment by managing team morale and cultivating a culture of collaboration among a diverse group of accountants spread across the globe.
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Champion personnel development, guiding team members to learn on the job and enhance their professional experience through continuous learning opportunities and career growth pathways.
Qualifications:
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Bachelor’s degree in Accounting, Finance, or a related field; CPA required.
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A minimum of 6 years of experience, with a preference for managerial roles within an accounting and finance department. 2-3 years of experience with a Big-4 audit firm is preferred.
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Profound knowledge of US GAAP, especially in the revenue accounting and cost accounting areas.
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Proven track record in managing external audits.
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Exceptional analytical skills and a passion for developing robust accounting processes.
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Proficiency in ERP systems (SAP and RAR experience preferred) and financial reporting software (e.g., PowerBI, Hyperion).
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Advanced Excel skills, including pivot tables, VLOOKUPs, and macros.
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Outstanding analytical, problem-solving, and organizational abilities.
What FARO can offer you:
FARO has excellent benefits for you and your family. We not only care for our employees but also to their immediate family members. We believe in a balanced work-life and have developed programs and benefits plans to support that ethic, such as:
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A competitive paid time off bank and paid holidays
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Medical, dental, life and AD&D insurance plans
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Pre-tax flex spending accounts for medical and dependent care
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401K with employer match
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Tuition reimbursement and training opportunities
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Wellness fairs
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Frequent lunch and learns to help educate employees about issues affecting their lives
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Other employee events
Inclusive:
At FARO, we are committed to encouraging different perspectives and ideas that foster innovation. We believe that we are strongest with a diverse team of employees. We want every FARO employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.
FARO is an equal opportunity employer and provides equal opportunities to all employees and applicants for employment. FARO is a government contractor and will take affirmative action as called for by applicable laws and Executive Orders.
Join us. Become part of a dynamic organization that values quality, leadership, teamwork, honesty and openness as a way of life in conducting our business.
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