Manager, Financial Reporting and Technical Accounting

Financial Reporting And Technical Accounting Manager

The Manager of Financial Reporting and Technical Accounting prepares the companys financial statements and reports, ensuring compliance with financial regulations and standards. This role involves managing technical accounting issues, supporting the internal and external audit process, and accounting for lease accounting.

The ideal candidate will possess a deep understanding of accounting standards, financial reporting, and auditing practices in the United States and related regulatory environments. This role requires a strong ability to collaborate across finance and at times, other functions, lead processes to timely meet deadlines, and support and manage change as new regulations are enacted.

This position reports directly to the Director of Financial Reporting & Acquisition Accounting of Applied Industrial Technologies (Applied), a U.S.-based public company traded on the NYSE.

Key Responsibilities :

1. Financial Reporting :

• Preparation of quarterly and annual financial statements and reports.
• Ensure all financial reporting complies with generally accepted accounting standards in the United States (US GAAP), U.S. Securities and Exchange Commission (SEC), and other regulatory requirements.
• Support the internal and external auditors for annual audit processes.
• Analyze financial data to identify discrepancies, trends, and financial performance to ensure financial reporting is correct.
• Support the monthly internal financial reporting, including preparation, accumulation, review, and publication of the monthly financial statement package.
• Support communication with regulatory agencies and external stakeholders regarding financial reporting matters.

2. Technical Accounting Research, Policy and Deployment :

3. Accounting Services :

oIdentify and Classify Leases : Determine whether leases are operating or finance (capital) leases based on criteria set by relevant accounting standards (e.g., ASC 842 for U.S. GAAP).

oCalculate Lease Assets and Obligations : Assess lease terms and calculate the present value of lease payments to recognize lease liabilities and related right-of-use assets (ROU).

oRecognize Lease Assets and Liabilities and Expense Recognition : Coordinate with the accounting services teams to ensure the ROU assets and lease liabilities are recorded accurately on the balance sheet, as well as the proper amount of lease amortization and interest expense.

oDisclosure Requirements : Ensure compliance with disclosure requirements, including information about lease terms, amounts recognized in financial statements, and judgments made in applying lease accounting standards.

oLiaise with external auditors and assist in preparing technical accounting documentation for audit reviews.

Qualifications : Education :

Experience :

Skills & Competencies :

Founded in 1923, Applied Industrial Technologies (NYSE : AIT) is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise.

Applied Industrial Technologies is built on a philosophy that puts people first. We are an equal opportunity employer, and we are committed to a workforce in which we enforce fair treatment and provide growth opportunities for everyone. All qualified applicants will receive consideration for employment regardless of age, race, color, national origin, genetics, religion, gender, marital status, physical or mental disability, or any other characteristic protected by applicable laws, regulations, and ordinances.