Flowserve Corporation Supervisor, Accounting in Taneytown, Maryland
Flowserve is the recognized world leader in supplying pumps, valves, seals, automation, and services to the power, oil, gas, chemical, and other industries. With more than 18,000 employees in more than 55 countries, we combine our global reach with a local presence.
The position of supervisor – COE Accounting is responsible to lead the revenue recognition analysis and percentage of completion accounting supporting six sites within the scope of center of expertise.
Prepare revenue recognition analysis and conclusion as per ASC 606 Revenue from Contracts with Customers.
· Perform the initial review of the contract (including change orders)
· Evaluate for contract combination
· Document facts and circumstances and rationale used to arrive to conclusion
· Ensures contracts are timely approved
· Maintain the list of contracts that qualify for over-time revenue recognition
· Provide review comments, feedback and guidance to the sites within the scope of center of expertise regarding revenue treatments and conclusions in a timely manner
· Ensure consistency in revenue evaluations and conclusions, and compliance with the company’s revenue recognition policies
· Research revenue recognition accounting literature as needed
· Participate in the reviews with order and project management
· Generate monthly and YTD booking reports, and upload data into BPC
· Submit various templates related to revenue recognition such as significant contract data file, site impact analysis, dual reporting for ASC606, etc.
Perform Percentage of Completion Accounting as per ASC 606 Revenue from Contracts with Customers
Assemble required data and documents
Reconcile contract portfolio vs. Policy IQ
Perform reasonability analysis of estimates (initial vs. SAP, subsequent vs. prior period, and actual costs.
Prepare cost to cost calculation under percentage of completion method
Record journal entries and communicate with the sites within the scope of center of expertise
Maintain over time / POC files for each contract
Bachelor degree in Accounting or Finance
Five plus years of experience in some combination of general accounting, cost accounting and / or contract analysis roles
knowledge of ASC 606 Revenue from Contracts with Customers preferred
Ability to read and interpret lengthy and complex contractual terms and conditions
· Excellent problem solving and critical thinking skills; ability to apply judgement and operate effectively in a decentralized, unstructured and dynamic environment
· Attention to detail and accuracy with the ability to package and present complex information in an effective and efficient manner
· Able to multi-task in high pressure, time-constrained situations
· Strong oral and written communication skills
· Strong PC skills including Windows and Microsoft Office
- Experience with ERP systems
Job Posting/Business Card Title:
Primary Posting Location:
Taneytown, Maryland US
Percentage of Approximate Travel Required:
Job Posting Category:
Finance & Accounting
United States of America
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