Lease Accounting Job Description
Lease accounting
provides US GAAP support to the global finance team, specifically around accounting for minority investments (ASC 810) and leases (ASC 842).
Lease Accounting Duties & Responsibilities
To write an effective lease accounting job description, begin by listing detailed duties, responsibilities and expectations. We have included lease accounting job description templates that you can modify and use.
Sample responsibilities for this position include:
Payment Feed Management - Managing billing and payment feed processing to include reviewing, analyzing, performing variance analysis, requesting and obtaining approval for payment based on Approval Central authorities, and uploading payment files to SAP for posting to the ledger and payment
Primarily responsible for the application of lease accounting standard ASC 842 for United’s operating leases
Implement and ensure compliance with SOX requirements as it relates to ASC 842 and related leases
Prepare, review and maintain occupancy related monthly journal entries, including but not limited to occupancy accruals, straight-line rent expense, security deposits, subleases and tenant allowances for portfolio of stores in US, Canada and Europe
Perform tasks related to the monthly close process, including but not limited to approving lease payments, reviewing lease cancellation accounting (terminations, cease use analyses, sublease gain/loss analyses)
Prepare analysis and reconciliations for occupancy related accounts
Research and analyze issues and respond to inquiries from Real Estate, Construction, Legal Facilities and Accounts Payable
Assist Finance teams with budgeting and forecasting for rental occupancy accounts and gain/loss on subleases
Partner with the Construction and Legal departments and lease accountants to collect construction allowances and closed store security deposits and maintain related general ledger accounts
Provide accounting guidance to and assist Lease Accounting team members
Lease Accounting Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Lease Accounting
List any licenses or certifications required by the position: CPA, PMP, PMI, CFA, ACCA
Education for Lease Accounting
Typically a job would require a certain level of education.
Employers hiring for the lease accounting job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Accounting, Finance, Business, Education, Business/Administration, Economics, MBA, Finance/Accounting, Technical, Real Estate
Skills for Lease Accounting
Desired skills for lease accounting include:
GAAP accounting
Lease accounting under current ASC 840 upcoming ASC 842
Current U.S. GAAP
Generally Accepted Accounting Principles and SEC reporting experience
Excel
SAP
Microsoft Outlook
Word
ASC 842
General accounting principles
Desired experience for lease accounting includes:
Monitor adequacy of accounting controls and appropriateness of lease accounting policies and procedures
Create ad-hoc reports for senior management
Communication with landlords as necessary
Maintain RetailLease data integrity
Supervision of 1-2 Lease Accountant(s)
Calculate payment/credit amounts per tenant/landlord lease agreements
Lease Accounting Examples
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Lease Accounting Job Description
Job Description Example
Our company is searching for experienced candidates for the position of lease accounting. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for lease accounting
- Retail recoveries
- Reviews about gross and capital calculations
- Reviewing leases
- Handling clients for legal terms if needed
- Reviewing, analyzing, and interpreting, complex legal documents (Leases, Amendments, Assignments, Termination Agreements, ) where JPMC is the Tenant/Subtenant or Landlord/Sublandlord to assess critical information, data and criteria, and utilize appropriate judgment to make decisions and take appropriate action with respect to ambiguous lease language
- Review and analysis of incoming statements, research and resolving payment/billing issues in accordance with appropriate processes and procedures
- Identify, evaluate, research, respond to and independently resolve issues and situations
- Quality Review Management - Complete full quality review of billing and payment batches, certifying quality, accuracy, and completeness of submissions for landlord payments and tenant billings to process for billing and payment feeds
- Achieve savings goals and contribute to department savings goals by identifying, and addressing over and under-billings
- Gather appropriate facts, and complete detailed review, analysis, evaluation and reporting of data necessary to respond to legal document or information requests such as Estoppel requests, Settlement Agreements, legal disputes
Qualifications for lease accounting
- Ability to take responsibility for and engage manager/supervisor in managing career growth and skills development
- In depth understanding of Finance/Accounting principles to enable development of company policy to ensure compliance with GAAP and to provide positive assurance of account balances for certification
- Minimal out of state travel required
- Strong functional/technical skills in the area of financial analysis and accounting
- Create and maintain cross-organizational partnerships within GRE and JPMC as an organization
- Coordinate and Collaborate with the Mumbai Lease Administration Analyst team with respect to process enhancements, inquiries, payment/billing processing, in an effort to provide exceptional customer service
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Lease Accounting Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of lease accounting. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for lease accounting
- Lead or participate in departmental, divisional and global projects as required, actively participate in team meetings and operate in a cohesive team oriented manner
- Cash Posting – Research, manage, track, and report on daily cash management and posting
- Security Deposit Management – Manage security deposits and reporting
- Oversee all lease accounting functions and manage a group of approx
- Responsible for the preparation of analysis and dashboard reporting for CAO and CFO of the client group, corporate
- Perform month-end and year-end close activities, from balance sheet and cash account reconciliations to work paper preparation
- Prepare and properly document journal entries, including accruals
- Process monthly rent rolls (tenant billings), PAP/ACH rental payments, SLR, and fixed asset lease acquisition cost setup and disposals
- Process the annual tenant operating and tax recoveries for the assigned North American portfolio, working with the regional office accounting staff and Property Managers
- Research, anticipate, and communicate potential accounting and regulatory rule changes (e.g., FASB, SEC, OCC, Fed) impacting the business unit, implement such changes
Qualifications for lease accounting
- Working knowledge of the Real Estate Processes area
- Ability to resolve complex problems positively and professionally with minimal supervision
- Ability to manipulate large volumes of data from multiple systems
- Work closely with external and internal auditors, anticipate and address any potential audit and regulatory requirements/issues
- Strong technology skills - MS Office product suite (working knowledge of Peoplesoft and InfoLease a plus)
- Communicates effectively and professionally - Excellent written and verbal communication skills
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Lease Accounting Job Description
Job Description Example
Our growing company is looking for a lease accounting. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for lease accounting
- Manage audit and Sox Compliance review, analysis and testing
- Function as the subject matter expert on all Lease Accounting matters
- A Bachelor’s degree in Accounting or Finance and a minimum of 10 years of related work experience
- Prior experience in leading Lease Accounting/Analysis teams preferred
- Participate as a team leader/team member in project
- Assist in management and refinement of the month-end close process
- Create and post journal entries as needed
- Review accounting and audit work to ensure all occupancy accounts are accurately recorded in a timely manner and in accordance with GAAP
- Show initiative and seek customer satisfaction by working with landlords and other outside parties to resolve billing and other lease related issues
- Prepare and present various analysis as needed or requested to gain a better understanding of fluctuations within the occupancy accounts
Qualifications for lease accounting
- Experience with SOX documentation, implementation and internal control requirements
- Previous experience successfully ensuring quality and successful management with respect to collecting outstanding receivables, and ensuring appropriate management of tenant improvement allowances
- Experience with researching complex technical accounting topics utilizing technical accounting resources and/or FASB Codification • Excellent verbal and written communication skills
- Mature and highly collaborative style that works well with all levels of leadership
- Proven track record managing compliance-related tasks
- Track record demonstrating strategic thought leadership, innovation, and effectiveness at influencing others to drive meaningful change
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Lease Accounting Job Description
Job Description Example
Our growing company is looking for a lease accounting. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for lease accounting
- Document conclusions regarding whether the leases are in or out of scope based on interpretive guidance provided by the accounting standard and other guidance
- Prepare cash flow schedules to calculate rent liability and related asset for items deemed in scope based on the review and conclusions of the lease analysis and record the asset and liability in the financial statements related to lease activities
- Update the fixed asset system (BNA) to manage the subledger accounting related to lease asset and lease liability
- Review/document leases for impact of straight line rent accounting
- Prepare cease use accruals related to exited facilities
- Prepare account reconciliations and variance analyses
- Prepare journals and assist with month end closing
- Prepare quarterly 10Q /10K SEC supporting schedules for lease accounting disclosures
- Assist in various other lease accounting projects as required
- Consults to improve existing business processes and understand the end-to-end impact of changes on processes, systems, risks and controls
Qualifications for lease accounting
- Strong knowledge of Financial and operational accounting systems required
- Passion for and demonstrated success in developing highly effective teams
- Strong communication, analytical, and time management skills with a command of detail
- Experience with lease accounting, including capital vs
- 1+ years of direct lease accounting experience with understanding of areas such as FAS 13/ASC 840, Capital vs
- Bachelor's degree in Finance or Accounting, minimum 5 years of accounting and auditing experience
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Lease Accounting Job Description
Job Description Example
Our innovative and growing company is hiring for a lease accounting. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for lease accounting
- Responsible for preparing or reviewing P&L analytics and is able to effectively communicate results to various levels of the organization
- Leverages business contacts and resources to accomplish project work
- Creates, prepares and reviews journal entries and account reconciliations that are accurate and compliant with company policies and applicable accounting regulations
- Assists with the development of global accounting policies
- Update CTI with the annual recharge amounts for operating and tax escalations
- Supporting design, build and implementation of the automated functionalities of Funding Management for sale of long and short term receivables, distributor financing and financial asset portfolio management
- Ensuring processes, IT and Management Reporting solutions are working according to the requirements by providing test scenarios and actual testing within the agile/scrum development teams
- Designing or contributing process levels 4-7, defining organization, processes, workflows, user roles, rights and security levels
- Collaborating in business transformations to provide expert support in diagnosis of processes within area of expertise and participate in deployment
- Executing capability maturity assessment, translating these into business requirements and prioritizing
Qualifications for lease accounting
- Solid Finance foundation to solve problems, develop and execute objectives and drive short-term and long-term changes
- Strong analytical, critical thinking, interpersonal and influencing skills
- Desired experience leading cross-functional projects / process improvement within operations / finance function
- Prior operational controllership, financial reporting, CAS graduate, EFLP graduate, or CPA preference
- Must be willing to work under international working environment
- Ability to assess business processes and internal controls and recommend/implement improvements