Chesapeake, VA, 23326, USA
7 hours ago
Inventory Accounting Director
**Summary of Position:** The Inventory Accounting Director will work with various financial and operational leaders within the organization to oversee the day-to-day functioning of the Company’s inventory accounting department. On a monthly basis, the Director will lead the closing of our inventory subledgers and prepare and / or review general ledger entries for gross margin. The Director will prepare budgets and forecasts and analyze variances from period to period. This role requires a balance of general accounting experience including inventory, internal controls (i.e. SOX), budgeting and forecasting, as well as baseline understanding of the retail business. The Director should also have experience leading a team and keeping to strict financial reporting deadlines. **Principal Duties and Responsibilities:** + Responsible for the monthly closing cycle for inventory accounting including all subledger and general ledger entries for gross margin. + Conduct the monthly review and adjustment of any inventory reserves (shrink and MD) and inventory capitalization entries for distribution costs. + Provide reporting of the Company’s monthly gross margin under the retail inventory method and assess variances to budget, forecasts and prior year. + Prepare annual budget and monthly forecasts for gross margin including merchandise cost, shrink, markdowns, etc. + Assist with preparing presentations for management on key gross margin line items. + Supervise, support and develop the inventory accounting team. + Assist, as necessary, in resolving issues related to markdowns, transfers, physical inventory (stores), DC inventory and other financial statement-related issues. + Provide assistance to Operations, Logistics and Asset Protection with any financial issues related to inventory. + Participate in IT projects related to inventory including system enhancements and conversions including user acceptable procedures. + Ensure internal controls (SOX) are in place and executed for key inventory accounting steps and processes. + Participate in the annual financial statement audit and quarterly reviews. + Assist the VP Financial Reporting and Inventory Accounting when appropriate **Minimum Requirements/Qualifications:** + Bachelor’s degree in accounting. + 10+ years of accounting experience, including a minimum of 6-7 years in public accounting, Big 4 preferred. + Will consider candidates with a mix of public accounting and private company experience in financial reporting. + Generalized knowledge of inventory transactions and costing methods. + Working knowledge of internal control requirements including SOX. + Strong computer skills, including Microsoft Excel, Word, Powerpoint, and Adobe PDF. + Baseline knowledge of financial systems including query tools (SQL, Showcase, etc.) + Retail experience preferred with knowledge of the retail inventory method (RIM). + Good communication and interpersonal skills, both verbal and written. + Good analytical skills and attention to detail
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