Russell W. Bagby, CPA

**** ******** *****, **********, ******* 35243

( 205-***-**** ( abmumh@r.postjobfree.com

Professional Experience

August, 2009 - Mar SpreadRite Organics, LLC Birmingham, AL

2010

CFO - Contract

Reconstructed monthly financial statements for 2008 through the current

period. Company did not have a consistent month-end close process and could

not produce monthly financial statements.

Negotiated an eight month extension for the company's line of credit with

financial institution.

Managed the daily cash position for the company in a cash constrained

environment.

Negotiated reduced payments, extended payment plans and other payment

arrangements to ensure company was able to procure needed supplies for

ongoing operations and meet current financial obligations.

Produced pro-forma financial projections and power point presentations for a

new business venture for potential investors.

March, 2008 - July, Optimal Reading Services Group, Birmingham, AL

2009 Inc.

Controller

Responsible for preparation, analysis and review of monthly financial

statements. Reduced time required to produce monthly financial reports from

six weeks to three weeks within the first three months on the job.

Developed financial performance reports for all customers in order to

determine profitability of individual accounts.

Managed the day-to-day processing of all accounting functions.

Redistributed workloads to provide adequate segregation of duties and

cross-trained accounting staff in order to provide support and depth to a

lean accounting department.

Worked with the CFO to develop month's cash forecasts and vendor payment

plans in a cash constrained environment in order to ensure the company met

its financial obligation.

Assisted the company in securing a new $26 million investment by a private

equity company by providing financial reports and analysis of the financial

position and operations of the organization and by working with the

diligence team to ensure all requested information was provided timely and

accurately.

Hired an Accounting Manager to provide oversight and depth to the accounting

department.

Provided leadership, guidance and coaching to direct reports within the

accounting department.

Developed accounting policies and procedures in order to streamline the

accounting department and provide for process improvements.

May, 2006 - March Drummond Company, Inc. Birmingham, AL

2008

Assistant Controller

Responsible for preparation and review of monthly financial statements for

Colombian Coal Sales operation.

Reviewed and approved all accounts receivable invoices. Ensured all

invoices were priced properly per customer contracts for Colombian Coal

Sales operation.

Responsible for review and approval of all shipping and delivery costs

associated with coal shipments from Colombian Coal Sales operation.

Tracked and analyzed company's coal and freight derivative position in

accordance with FAS 133 standards.

Produced weekly cash receipt and disbursement forecasts for use in the

company's overall debt strategy.

Reviewed and approved all new sales contracts from pricing perspective.

Worked with President of Columbian Coal Sales operation to prepare and

analyze annual operating budget.

May, 1999 - May 2006 Altec Industries, Inc. Birmingham, AL

Accounting Manager

Responsible for preparation and review of monthly financial statements for

three divisions.

Managed short-term debt position and prepared cash forecasts.

Supervised fixed asset and sales tax accounting functions. Reviewed, on a

monthly basis, the sales and use tax returns produced through the Vertex

system for each required jurisdiction. Navigated the company through

numerous sales and use tax audits and appeals. Defended the company's

position in order to minimize each assessment.

Worked with division managers to produce and analyze yearly budgets to make

sure they fit overall corporate objectives. Tracked actual results against

budgets on a monthly basis and periodically revised budgets and forecasts

when necessary.

Analyzed and prepared quarterly board of directors presentations and worked

with the CEO, CFO and Corporate Controller in preparation for the meeting.

Assisted in the spin-off of the used equipment division into a separate

company. Established policies and procedures for the new entity. Managed

cash position and all accounting activities for the entity.

Analyzed the inventory position for the service division and set separate

inventory turn targets for the mobile service centers and the shop centers

in order to improve inventory efficiency and eliminate excess inventory.

June, 1997 - May PricewaterhouseCoopers, LLC Birmingham, AL

1999

Staff Auditor

Worked in a team setting to complete year-end financial statement audits for

clients served.

Performed several inventory observations to ensure proper counts and values

were established.

Education

August, 1995 - May, University of Alabama Tuscaloosa, AL

1997

Master of Business Administration

Concentration: Accounting/Finance

August, 1991 - May, 1995 Millsaps College Jackson, MS

Bachelor of Business Administration

Major: Accounting

Professional Membership and Activities

American Institute of Certified Public Accountants

Alabama Society of CPA's

Cystic Fibrosis Foundation Board - 2004 - 2006

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