VARSHA NAGPAL
Reno, NV 89521 abk7zl@r.postjobfree.com
Local Address is in Louisville Kentucky. Need to move from Reno with my
husband's change of job to Louisville.
Goal oriented professional with over 19 years combined experience in
finance, accounting and audit. Core competencies include:
. Technical research and applications
. Special projects as an accounting lead including mergers and
acquisitions, valuation methods, systems implementation and efficiency
improvements
. Financial and cost accounting analysis and reporting
. Financial statement preparation and bookkeeping for all facets of
accounting
. Well organized, self-motivated, creative, team builder with positive
attitude
. Excel in consensus building, partnering with business leaders and
working collaboratively at all levels.
. Strong written and verbal communication skill
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Professional Experience
NV Energy Reno August 2010 to present
Utility Company
Staff Consultant - External Reporting
External Reporting, Policies and Technical Research Group (August 2010-
present)
. Responsible for reviewing the power purchase contracts and research
and determine the accounting treatment and prepare accounting
summaries for complex transactions including derivative accounting,
VIE analysis, lease accounting, efficiency programs accounting
treatment and deferred energy accounting (this involves the review of
rate determination process, orders released by the commission and
coordination with cross functional departments)
. Track and summarize the GAAP updates for executives
Key Initiatives
o Established the GAAP tracking and distribution process
o Currently working on the process improvement related to contracts
review
International Game Technology Reno April 2003 to July
2010
Design and manufacturing of gaming machines
Project Accountant - Corporate Accounting
Technical Accounting and Revenue Recognition Group (Jan 2007-July 2010)
. Support the business owners including international subsidiaries with
revenue recognition treatment for new arrangements, reviewing revenue
recognition treatment for large deals and ensuring the GAAP compliance
. Establish the VSOE analysis for International subsidiaries ensuring
global consistency
. Research and determine the accounting treatment and prepare accounting
summaries for complex transactions including valuation and impairment
analysis of intangibles, derivative accounting, mergers and
acquisition accounting and new GAAP guidance.
. Track and summarize the GAAP updates for executives
Key Initiatives
o Suggested accounting treatment for complex non monetary exchange
transaction (relinquishment of equity investment and prepaid assets of
approx. $110M in exchange for acquired intangible assets)
o Implemented the application of fair value guidance FAS 157 to the
foreign currency hedges
o Implemented the new guidance FAS 160 on valuation and disclosure of
non controlling interest
o Suggested the revenue recognition treatment on various multiple
element transactions including software and non software elements;
sale, recurring revenue and future discounts arrangements; extended
payment/financed terms at discounted interest rates
o Implemented the VSOE methodology for International subsidiaries (this
involved the roll out of corporate VSOE methodology by coordinating
with controller and staff of subsidiaries)
o Prepared acquisition balance sheet, reviewed and finalized the
acquisition valuation reports and assisted with the consolidation
accounting of the acquired subsidiary (this involved coordination
with external consultants and business partners)
o Suggested accounting treatment for embedded derivative in lease
agreements, multiple currency megajackpot
Consolidation Group (Nov 2005 - December 2007)
. Managed SAP Business One implementation and BW management reports
development for international subsidiaries as a corporate accounting
lead, ensuring the compliance with global goals of the company
. Assisting process improvement projects as an accounting lead in the
areas of intangibles impairment review, transfer pricing changes,
consolidations, profit elimination etc. both at corporate and
international subsidiaries
Key Initiatives
o Developed Business One chart of accounts and profit center structure
in alignment with corporate structure
o Developed a Corporate Accounting manual for existing and new
subsidiaries to help them with required monthly and quarterly
reporting
o Established the process for intangible impairment review with
international subsidiaries, the uniform account mapping for profit
elimination for all subsidiaries.
Senior Accountant - Corporate Accounting (July 2005 - November 2005)
. Corporate liaison accountant for international subsidiaries
performing various functions including posting the monthly trial
balance into SAP, prepare and distribute the profit elimination entry,
assist in the reconciliation of intercompany accounts, provide US GAAP
accounting guidance and schedule and conduct monthly financial
meetings with subsidiaries controllers and finance and accounting
managers
. Responsible for complex accounting including foreign currency hedging
program accounting, retained earnings reconciliation, financial
information analysis.
. Build up business relationship with internal business partners
Senior Cost Accountant (Jan 2004 - June 2005)
. Annual establishment of standard labor and overhead rates, periodic
production order variance and margin analysis, consumption accounts
and WIP reconciliation
. Proactive involvement in understanding systems configuration and cross-
functional communication to identify and resolve front-end fix for
issues causing inappropriate accounting
. Active participation in understanding procedures, documenting, sharing
and implementing new strategies and ensuring accurate accounting
Cost Accountant (April 2003 - December 2003)
. Production order variance, labor and overhead variance and margin
analysis, executive summaries, Scrap reservation verification
H&R Block Tax Consultant Tax Year 2002
Shades of India Crafts Pvt. Ltd, India 2001-2002
Manufacturer and Exporters of Designer Bed Linens and Curtain Panels with
clientele Laura Ashley, Calvin Klien, and Harrods in UK
Senior Financial Officer - Responsible to Chief Executive Officer to
improve the group's profitability and cash flow position
. Supervising consolidation and finalization of accounts including day-
to-day operations
. Management of funds, interaction with banks and other non-banking
financial institutions
. Periodic analysis and reporting on debtors, inventory, creditors and
liquidity ratios
. Devising, implementing and reviewing of the routine Inventory
management Systems including periodic inventory count,
reconciliation, adjustments and control procedures
. Supervising costing and budgetary Controls and handling MIS
. Compliance with statutory and internal audits requirements and
liaison with auditors
. Reorganization of accounts department, training and development of
staff of 7 employees, document formal accounting manual, internal
control system study and implementation of adequate internal
controls, information systems analysis
. Step up to the position of Chief Executive Officer in his absence
UEC SAIL Information Technology Ltd. 1996 - 2000
A joint venture of US and Indian company involved in development and
implementation of software (Oracle and BAAN)
Accounting Manager - Responsible to Chief Executive Officer
. Consolidation and finalization of accounts besides supervising day-to-
day operations
. General accounting duties including maintenance of GL, AP AR, bank
reconciliation, cash activities with the help of two assistants
. Devising annual business plan, annual fixed cost budget, monthly cash
flow and monthly variance analysis reports
. Compliance with statutory and internal audits requirements and
liaison with auditors
. Periodic reporting to external entities such as tax departments,
financial institutions
P.R. Mehra Co. 1995
50 Years old consultancy firm with an expertise in consulting on joint
venture agreements
Consultant - Drafted and reviewed the joint venture agreements and was the
member of team involved in various discussions with the lawyer of the other
party to the Agreement.
PricewaterhouseCoopers 1990-1994
Tax Consultant: Nov 1994 - May 1995
Audit Trainee/Audit Officer: Oct 1990-October 1994
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Education and Training
. Certified Public Accountant - California
. Chartered Accountant - ICAI
. Bachelor of Mathematics - Delhi University, India
. Professional Seminars and Conferences related to Utility accounting,
revenue recognition accounting-software revenue recognition and
multiple elements, derivatives accounting, business combinations
accounting, FASB/SEC updates
. Project Management skills training
. Experience and training in SAP, SAP Business One, Microsoft access,
Microsoft project, Microsoft excel, Microsoft Word, PowerPoint, small
accounting packages-QuickBooks and Peachtree