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Accounting Specialist - Full Time

The Timken Company - King Of Prussia, PA

Posted on 06/23/22 (Ref: PAiMG8aqu8)

Accounting Specialist - King Of Prussia, PA - The Timken Company

Your Career Begins at Timken
If you're ready for a challenging career that provides you with the ability to advance personally and professionally, look to Timken. Our associates make the world more productive by improving the efficiency and reliability of the machinery that keeps industry in motion.

Timken's Philadelphia Gear brand has a current opening at their headquarters in King of Prussia, PA for an Accounting Specialist. The primary purpose of this position is to manage the significant accounting demands of the US government as it pertains to the Philadelphia Gear marine business, including Percent of Completion (POC) accounting, progress payments, leading periodic audits, and forecasting. In addition, the Accounting Specialist will find and implement process improvements around POC accounting and current job cost accounting by either utilizing the current Epicor ERP system or finding off the shelf software solutions. This position will provide oversight and guidance to the Site Controllers as it relates to production accounting and capital spending.

Essential Responsibilities:

  • Performs the monthly POC accounting processes that supports the monthly journal entries that records the revenues and costs related to US government and other large contract projects
  • Calculates the amount of the progress payments owed by the US government monthly
  • Develops rolling twelve-month revenue and margin forecasts for the contracts accounted for using POC
  • Manages the review and analysis of financial aspects related to government contract requirements and coordinates a consistent compliance with government regulations within the business
  • Respond and lead financial audits for government contract compliance considerations across the business
  • Lead POC process optimization
  • Develop and maintain actual versus budget job costing reporting processes
  • Provide oversight and guidance to the Site Controllers around production accounting and capital spending
  • Monitor capital spending versus budget across the business and evaluate the merits of various capital spending projects
  • Review and approve general ledger account reconciliations
  • Analyze manufacturing performance at an enterprise level
  • Review, develop and monitor labor and burden rates
  • Perform other duties as required

Key Attributes:

  • Broad understanding of financial processes, systems and economic analysis
  • Experience with production or cost accounting in manufacturing entities with preference towards multi-plant and multi-entity operations
  • Experience and aptitude in improving processes through software systems and must have a fundamental belief in the importance of continuous improvement
  • Proven ability to deal with complex business issues i.e. contracts, pricing, investment, resources
  • Experience with ERP systems (Epicor preferred), USG/ POC accounting and decentralized networks

Basic Qualifications:

  • Bachelor's degree in business or related field required, Master's degree preferred
  • 8 - 12 years' experience in accounting management
  • Proficient in Microsoft Office including Word, Excel, and PowerPoint
  • CPA license or CMA certification preferred

All qualified applicants shall be treated equally according to their individual qualifications, abilities, experiences and other employment standards. There will be no discrimination due to gender or gender identity, race, religion, color, national origin, ancestry, age, disability, sexual orientation, veteran/military status or any other basis protected by applicable law.

Accounting Specialist - King Of Prussia, PA - The Timken Company

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