Job Description

RESPONSIBILITIES:

The DEVELOPMENT COST ACCOUNTANT will perform various accounting and financial reporting functions in a multi-entity environment as well as all construction and development accounting functions for multiple real estate development projects from pre-development through project completion.

KEY QUALIFICATIONS:

TRANSACTION PROCESSING AND FINANCIAL CONTROLS:

· Acquire in-depth understanding of structure, agreements, financing and risks of complex development projects.

· Review agreements and financial documents to determine and establish appropriate accounting procedures.

· Evaluate financial transactions and suggest appropriate treatment.

· Establish and maintain chart of accounts in accordance with company policy.

· Work directly with various staff levels from other departments to resolve multifaceted accounting and reporting issues and problems.

· Propose and establish procedures on handling various transactions.

ACCOUNTING AND CASH MANAGEMENT:

· Responsible for day to day accounting, prepare journal entries, analyze accounts and make necessary adjustments. Ensure all transactions are accounted for in accordance with U.S. GAAP and company policy and procedures.

· Facilitate draw fundings, receive wires, confirm amounts, notify appropriate parties, and initiate wires.

· Reconcile loan draws, funding payments and outstanding invoices on a monthly basis to general ledger. Record adjusting journal entries as required.

· Track pre-development costs, calculate pre-development loan interest, and provide various reports on pre-development costs incurred for each job.

· Prepare comprehensive analysis of all activities for assigned entities and perform various reconciliations between the accounting system and other sources to confirm accuracy.

· Responsible for the month-end close process, verifying integrity and accuracy of the general ledger, investigate variances, identify and resolve issues. Prepare supporting schedules and record accruals.

· Reconcile various bank accounts, monitor cash position, ensure timely correction of transactions and follow up as needed.

FINANCIAL REPORTING:

· Prepare, examine and analyze accounting records, financial statements and other financial reports to assess accuracy, completeness and conformance to reporting and procedural standards.

· Prepare monthly/quarterly GAAP-compatible financial reports on Joint Venture entities and development projects required internally and by outside third parties.

· Gather and compile information as needed by auditors for audit, cost segregation study, cost certifications and tax returns. Work with auditors to ensure timely completion.

GENERAL:

· Respond to special request for information internally and externally.

· Assist with other special projects as needed.

EDUCATION/TRAINING/CERTIFICATION:

· Bachelor's degree in Accounting, Finance or Business is required.

· 2-5 years development or cost accounting experience required, construction experience preferred.

· Experience with Financial Reporting and Cost Certification helpful.

COMPUTER SKILLS:

· Must have intermediate to advanced level of computer proficiency in Microsoft Word, Excel and Outlook, and PDF.

· MAS 200/90 experience preferred.

OTHER SKILLS:

· Must be pro-active.

· Self-starter who takes initiative as appropriate and completes the work.

· Experience with strategy development and implementation desirable.

· Ability to plan and lead projects through to the end.

· Must have strong analytical skills.

· Strong attention to detail and accuracy; highly analytical.

· Great organizational skills and ability to multitask.

· Ability to work in fast paced environment and adapt to changing priorities.

· Excellent communication and follow-up skills.

· A team player, willing to absorb departmental work overflow when required.

· Adaptable to changing priorities.