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Controller

Company: Schultes Precision MFG Inc
Location: Buffalo Grove
Posted on: December 9, 2018

Job Description:

Description:Position DescriptionManufacturing isn't like other types of business. Retailers sell stock and service companies sell their time, but only manufacturers create new products from scratch. This can lead to accounting problems. Manufacturing businesses have to account for their raw materials & processing costs, but they also have to work out the value of the finished items they create. There are different methods of doing this. You'll need to choose the right one for SPM & use it properly. With your accounting knowledge you'll be able to choose the right accounting direction to help SPMs business grow. Transactions- Expenses & revenues within a given period. Includes purchases, sales, repayments, loans, etc. Assets & liabilities- Necessary for the end of a given accounting period & useful at other times. Cash on hand- You need to keep a close eye on how much cash is in the bank at any time. Inventory- For taxes, FIFO (first in and first out), LIFO (last in & first out) & inventory flow tracking. Cost analysis- Analyze costs over whatever period you define. Constraint analysis- See where SPM is being held back by identifying bottlenecks Margin analysis or profitability analysis- Find out how much profit SPM is making on each product (or each distribution channel, each customer, each product line, etc.). Variance analysis- How much did you budget? And how much did you actually spend? Budget refinement- The methods of analysis above will help you refine your budgets for the next accounting period. Payroll- Improve payroll management & streamline payroll process.The Controller will be responsible for the oversight and day-to-day operation of SPMs accounting function. The Controller is responsible for reconciling accounts payable and receivable accounts, creating and balancing budgets, invoicing clients, ensuring prompt payment of invoices and developing and maintaining a comprehensive financial filing system for SPM.

  • Verifies and pays fixed bills and supplier invoices. Contacts suppliers/customers with payment concerns; creates credits for items returned (customer/supplier).
  • Processes journal entries daily, if needed.
  • Monitors debt levels and compliance with debt covenants.
  • Ensures receivables are collected promptly. Reviews un-billed shipment report; emails supervisor status of collection attempts weekly.
  • Records cash receipts and processes bank deposits.
  • Conducts monthly and periodic reconciliation of organizations bank accounts and credit accounts as assigned or required.
  • Issues financial statements as required.
  • Provides information to the external accountant who creates the companys financial statements as assigned or required.
  • Assembles information for external auditors for the annual audit as assigned or required.
  • Calculates and issues financial analysis of the organizations financial statements as assigned or required.
  • Maintains an orderly accounting filing system.
  • Maintains the annual budget as required and assigned.
  • Complies with local, state, and federal government reporting requirements as required.
  • Provides clerical and administrative support to management as assigned.
  • Reviews and manages insurance policies with Human Resources.
  • Keeps President and General Manager informed of any challenges within area of responsibility.
  • Complies and adheres to assigned department work instruction procedures and the organizations manufacturing and performance standards.. Requirements:
    Bachelors degree in Accounting/Finance. Ability to perform the essential functions of the job typically acquired through 3 or more years of related experience. Ability to apply knowledge of Generally Accepted Accounting Principles & Cost Accounting Standards. Must be able to adapt to new & different computer programs & software to enable efficient data gathering & analysis. Ability to research, compile, analyze & interpret data. Ability to conduct ones self in an office setting as well as an industrial setting PM18 1

    Keywords: Schultes Precision MFG Inc, Chicago , Controller, Accounting, Auditing , Buffalo Grove, Illinois

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