Accounting Management

RAY M. TOON, CPA

**** ******* ** **.

Rio Rancho, New Mexico 87124

505-***-**** – home

505-***-**** – cell

abnn7i@r.postjobfree.com

OBJECTIVE: CFO / Controller / Financial Management

SUMMARY OF QUALIFICATIONS

20+ years of progressive accounting and business management experience in global, private sector, and organizations with

multiple locations in U.S., Mexico, Asia, Middle East and Europe, including setting up accounting operations for two start-up

companies.

Proven ability to function as right-hand person to the business leaders

Demonstrated ability in driving financial performance throughout the organization by partnering with the business leaders for

the accountability/ownership of the financial impact of business decisions - specifically partnering with sales, marketing, and

operating business leadership to prepare and execute the annual operating plan; establish and drive success in achieving the

revenue, cost, profit, working capital and cash goals of the organization.

Developed & managed processes, tools and discipline to enable the preparation of monthly financial

performance forecasts and analyses of results to proactively identify variances from plan, identify risks and

opportunities and develop action plans to drive results

Solid business perspective, acquired while working in diverse business settings, including banking relations, line of credit,

cash forecasting, cash operations, risk management, and human resource management.

Experienced in driving financial leadership in assessing the financial viability of the business case for capital investment

opportunities in capital extensive businesses.

Excellent assessment skills and a track record of hiring and developing strong management and financial teams. Managerial

accountability over accounting and financial professionals, including hiring, training and building a strong performance

focused and results driven finance organization. Hands-on manager with proven successes in working through people.

Continuously seeking improvement in business results and processes by benchmarking to identify best practices and

shared learning with internal and external organizations

Computer Literacy: Microsoft Office (Excel, Word, PowerPoint); proprietary financial analysis systems specific to business

operations.

Certified Public Accountant, State of Ohio.

PROFESSIONAL EXPERIENCE

Corporate Controller, Advent Solar, Albuquerque, New Mexico 06/06 – 07/09

Direct all aspects of financial and accounting operations for Start-up Company specializing in manufacture of solar panels for

global customer base, including hiring and staffing, banking and lending relationships, statutory reporting requirements for New

Mexico Industrial Revenue Bond (IRB).

2009 Projected Revenue: $100 Million, pending exit from Development Stage.

Annual Operating Budget for 2008: $30 Million.

Manage five employees - two CPAs and three staff.

Directed budgeting, forecasting and modeling efforts of $70-$80 Million in external fundraising.

Obtained $2 Million in New Mexico Tax Credits and Incentives for company.

Resume of Ray M. Toon 1

Put in place solid treasury policy that enabled the company to meet all of cash commitments on time and able to effectively

earn an additional 3%-5% more on invested cash than it would have received from investing in Treasury CDs.

Responsible for Risk Management requirements for all lines of business, including: commercial property ($60 Million); and

liability coverage for general, professional, worker’s compensation, employer, international packaging, cargo, and directors

and officers.

Established and implemented SOX-compliant financial business processes and procedures in preparation of IPO.

BMC Software, Houston, Texas 07/04 – 06/06

Director of U.S. Accounting 09/05 – 06/06

Director of Corporate Accounting 07/04 – 09/05

Directed financial operations, monthly close for worldwide accounting process, quarterly financial reviews, SEC reporting and

earnings calls for senior management, for $1.5 Billion Software Company.

Annual Operating Revenue for 2005: $1.5 Billion.

Annual Department Operating Budget for 2005: $5 Million.

Managed 30 employees, including four Senior Managers (CPAs), Accounting, Commissions, Payroll and Accounts Payable

Departments.

Eliminated material weakness (SOX)

Formed Accounting Department from inception to fully operational unit, including creation and implementation of Corporate

Accounting Policies and Procedures, identification and implementation of business controls and accounting policies, and

hiring and training of accounting personnel.

Improved and enhanced information flow and reporting requirements to external auditors.

Reduced corporate close calendar from 30 days to 8 days.

Directed centralization of Accounts Payable function to India in eight months and saved $400,000 annually.

Trained Commissions Department in accurate calculation process, resulting in annual savings of $300,000.

Initiated development of financial forecasting and reporting process for projecting costs in development of software and

services, to ensure company undertakings were profitable

Vice President of Finance / CFO, Lucchese, Inc., El Paso, Texas 10/01 – 07/04

Directed Accounting, Treasury, Credit, and Human Resources functions; Banking Relations, Line of Credit, Cash Forecasting, and

daily Cash Operations, for company specializing in production of Western boots. Reported 12-18 month financial projections,

focusing on achievement of improved profitability and cash flow.

Annual Operating Revenue for 2003: $30 Million

Annual Operating Budget for 2003: $25 Million.

Initiated and implemented 12 -18 month rolling forecast which included accountabilities and providing timely financial reports,

was able to put into action various initiatives in areas of cost reduction, and balance sheet management which generated

positive cashflow and continually improvement in profitability.

Successfully managed banking line of credit which was in default. In addition was able to increase the borrowing capacity by

focusing on areas of the balance sheet ie…accounts receivable and inventory.

Enhanced company’s utilization of Oracle accounting system, resulting in improved reporting and inventory control.

Identified and implemented cost improvements (i.e., purchase versus rental of equipment), resulting in $205,000 annual

savings.

Reduced annual external audit costs by $40,000.

Improved product costing process, with end result of cost reductions and improved gross margins.

Managed 7 employees, including seven direct reports.

Director of Finance, Southwest Manufacturing Operations 09/00 – 10/01

ARRIS, El Paso, Texas

Directed financial operations for four plants (two in U.S. and two in Mexico) specializing in manufacture of broadband transmission

equipment.

Annual Operating Revenue for 2000: $500 Million.

Managed 20 employees.

Directed Plant Controllers and Managers in identification of key metrics used to identify and track financial improvements.

(Impact of improvements was not tracked because of shutdown of plants.)

Enhanced and improved close processes, resulting in timelier internal and external financial reporting.

Resume of Ray M. Toon 2

Managed sale and auction of U.S. manufacturing facilities that closed, including identification of assets, ensuring physical

locations of all assets, identification of gross and net values, and working with engineers to identify market value and

competitive pricing for sale of equipment .

Size of each facility sold or auctioned: 500,000 square feet.

Director of Finance, SW Manufacturing Operations, Foamex, Santa Teresa, NM 06/99 – 09/00

Directed monthly close process for four manufacturing plants, two in U.S. and two in Mexico.

Provided financial direction to Plant Mangers and Controllers in identification of key measures for manufacturing operations.

Assured timely resolution of accounts receivable and billing issues to Corporate Accounting.

Philips Electronics 06/91 – 06/99

Finance Manager, Phillips Electronics, Juarez, Mexico 04/95 – 06/99

Managed operational cash flow, development of annual budgets and monthly forecasts, and financial reporting and projects to

corporate management.

Implemented financial and accounting systems for plant start-up.

Trained new accounting staff in all areas of financial accounting and month-end closing processes.

Set up product standard costs.

Controller, Phillips Electronics, Ottawa, Ohio 06/91 – 04/95

Managed accounting operations, including general accounting, fixed assets, payroll, accounts payable, annual budgets, and

development of multi-year business plans for incorporating improvement programs.

Provided financial direction to Plant Manger in complex and capital intensive manufacturing environment.

Implemented fully integrated manufacturing and accounting system in six months.

Key player in approval of $150 Million plant expansion.

Liaison with local authorities in obtaining $250,000 tax abatement.

Prior to 1991 – Additional information furnished on request:

Plant Controller, Wheeltech, Toledo, Ohio

Plant Controller, Bostrom Seating, Pioneer, Ohio

Assistant Marketing Controller, Owens Corning Fiberglas, Toledo, Ohio

CREDENTIALS AND EDUCATION

Certified Public Accountant, State of Ohio

BBA Accounting, New Mexico State University, Las Cruces, New Mexico

Resume of Ray M. Toon 3

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