Accounting Manager

David L. Michelson

*** ****** ***** • Encinitas, CA 92024-2210

858-***-**** • *****@*********.***

Summary

CONTROLLER with more than 20 years of professional experience in Finance, Accounting, and Management.

Financial Reporting Process Improvement Benefits Administration

Budgeting Job Cost Accounting Administration

Sarbanes-Oxley (SOX) implementation Internal Audits GAAP Compliance

Cash Flow Analysis Department Management Human Resources

Standard Cost Accounting Staff Training and Development

• Proven ability to use finance and accounting to drive business development and process improvement. A change agent who creates tools for accurate decision-making and strategic planning by executives and managers across the enterprise.

• Zero audit adjustments across 20+ years of controllership and accounting.

• Diversified industry experience includes defense, electronics manufacturing, general manufacturing, international gaming, healthcare, and financial institutions.

• Proficient with multiple enterprise finance/accounting systems, including Priority, IFS, Basic Four, MAS 90, Great Plains, QAD, and Peachtree Accounting. Completed manufacturer training with these systems.

Professional Experience

CONTROLLER • Shamir Insight, Inc. (subsidiary of Shamir Optical Industries, Inc.), San Diego, CA (2008 to 2014) Directed all accounting functions and managed accounting department, including hiring, training, and mentoring staff of 5. Total responsibility for A/R, A/P, G/L, fixed assets, payroll, cost accounting, and inventory control functions. Actively supported sales, marketing, new business development, cost control, and other financial and non-financial functions throughout company. Generated monthly financial reports, analyzed and reported to senior management variances from budget on a monthly basis, annual budgets and worked closely with Ernst & Young to develop tax strategies and ensure tax compliance with both Federal and State tax agencies.

• Developed and implemented Sarbanes-Oxley program. Assessed risks, developed procedures, and implemented controls affecting every level of company. Authored comprehensive manual for all accounting functions and processes.

• Zero audit adjustments following 5 separate audits by Ernst & Young for SOX and financial data compliance.

• During first six months, rebuilt accounting department. Initiated 80% turnover of staff including a reduction of one; recruited, trained, and mentored team to sharply improve efficiency and performance.

• Led conversion to new ERP system (Priority) and subsequent upgrades of Priority application.

• Implemented cycle count process, eliminating need for costly, disruptive annual physical inventories.

• Reduced monthly close cycle from the 25th of the subsequent month to the 5th working day of the subsequent month, while reducing staff.

• Successfully defended the company’s position during an IRS tax audit for tax year 2010.

• In 2011, the accounting department was named department of the year.

• In 2012, I was named manager of the year.

ACCOUNTING MANAGER • Exotic Electro-Optics, Inc. (subsidiary of II-VI, Inc.), Murietta, CA (2004 to 2008)

Directed all accounting functions for publicly-traded defense contractor; also in charge of parent company’s internal and external financial reporting. Generated monthly financial reports, quarterly forecasts, annual budgets, and 5-year plans; presented these to advisory board. Managed accounting department, including hiring, training, and mentoring staff of 6. Total responsibility for A/R, A/P, G/L, fixed assets, payroll, cost accounting, and inventory control functions. Actively supported production control, sales, business development, project management, cost control, and other financial and non-financial functions throughout company.

• Led successful implementation of Sarbanes-Oxley program. Assessed risks, developed procedures, and implemented controls affecting every level of company. Authored comprehensive manual for all accounting functions and processes.

• Member of corporate Sarbanes-Oxley implementation and internal audit teams. Conducted SOX audits of sister companies worldwide to verify compliance with rules and controls.

• Zero audit adjustments following 4 separate audits by Deloitte & Touche for SOX and financial data compliance.

• Rebuilt accounting department. Initiated 70% turnover of staff; recruited, trained, and mentored team to sharply improve professionalism and performance.

• Led conversion to new ERP system (IFS) and subsequent upgrades of IFS application.

• Implemented cycle count process, eliminating need for costly, disruptive annual physical inventories.

• Sharply improved production controls. Cut work in process from 1200 to 700 shop orders, achieving 45% reduction in average aging of shop orders (100 to 55 days).

• Reduced monthly close cycle by 30%.

• Reduced days outstanding A/R from 50 to 39.

CONTROLLER • International Thunderbird Gaming Corporation, San Diego, CA (1997 to 2004)

In charge of corporate accounting for $50M public company with 1,700+ employees (owner/operator of 10 casinos in Central and South America). Total responsibility for financial reporting and daily accounting functions for corporation and 30+ domestic and international subsidiaries. Directed all quarterly and annual public financial reporting to shareholders, US Securities and Exchange Commission (SEC), and Vancouver and Toronto Stock Exchanges. Managed budget reporting and cash flow reporting. Coordinated international mergers, acquisitions, and dispositions of subsidiary companies.

Established and directed new corporate accounting department and 14 international accounting operations. Managed staff of 4 managers and degreed G/L accountants at corporate headquarters; 14 international controllers; A/P and A/R departments; payroll administrator; and human resource administrator. Developed and implemented accounting policies and procedures. Hired, trained, and evaluated corporate accounting personnel. Also served as HR Manager. Sourced, purchased, administered, and maintained employee benefits programs, including 401(k), FSA plan, and health, disability, life, and Worker’s Compensation insurance.

Developed budgets and comprehensive business plans for company, revised semiannually. Engaged and collaborated with KPMG firms to conduct audits at corporate headquarters and international subsidiaries. Sourced, purchased, and administered all corporate commercial insurance policies, including commercial liability, property, kidnap, and directors’/officers liability insurance. Extensive responsibility for investor relations; wrote quarterly Letter to Shareholders, Discussion and Analysis of Operations, informational articles for shareholders, and press releases.

• Troubleshot finances and accounting, achieving zero audit adjustments in 5 consecutive years of audits by KPMG.

• Directed MIS (Management Information Systems) department. Standardized corporation and 30 subsidiaries on Great Plains systems, integrating chart of accounts across business divisions.

• Instrumental in transforming company’s business model, developing operations in Central and South American markets. Launched 10 new gaming, entertainment, and performing arts operations within 5 years. Created business plans, pro forma financials, and cash flows for each project and subsidiary; promoted plans to Board of Directors and prospective in-country investors.

• Performed due diligence to determine legal requirements for business in international markets, including general business, labor, banking, financial reporting, and tax filing regulations. Designed and implemented financial systems ensuring compliance with regulations in 8 different countries.

• Developed tax strategies to control expenses for foreign subsidiaries.

• Coordinated disposition of several subsidiary companies, including valuations, identifying prospective buyers, and sales negotiations. Collaborated with COO and in-house legal counsel to complete sales.

CONTROLLER • Datron World Communications, Inc., San Diego, CA (1992 to 1997)

Directed corporate accounting and finance for $35M manufacturer of electronic communication equipment, publicly traded on NASDAQ. In charge of financial reporting, cost accounting system, budget development and administration, cash flow analysis, and business planning for corporation. Oversaw up to $60M in international Letters of Credit and Performance Bonds. Coordinated banking with institutions worldwide. Conducted annual physical inventories of assets valued up to $12M. Managed corporate accounting systems and accounting department, including hiring, training, and coordination of staff. Also served as Human Resources Manager and Affirmative Action Officer for corporation; developed EEO/AA plans to ensure compliance with Department of Labor requirements. Administered benefits plans.

• Zero audit adjustments in 5 consecutive years of audits by Deloitte & Touche.

• Single-handedly outperformed predecessor and 2 assistants, improving efficiency of finance and accounting. Reduced time to complete financial reports by 30%.

• Eliminated need for intensive annual physical inventories by introducing cycle count method approved by Deloitte & Touche auditor. Achieved significant cost reductions while reducing disruption to operations.

• Integrated accounting systems of parent corporation and subsidiary corporation.

DIRECTOR OF FINANCE AND ADMINISTRATION • Solatrol, Inc., San Diego, CA (1989 to 1992)

In charge of finance, accounting, business administration, and human resource functions for startup electronics manufacturer. Established corporate accounting department; recruited, trained, and supervised accountants and administrative staff. Instituted automated accounting using QAD software. Total responsibility for relations with primary investor (venture capital fund), other funding sources (banks and lenders), and key vendors. Secured $200K line of credit and negotiated loans for capital equipment and vehicles. Managed human resources functions and benefits programs for as many as 55 employees. Negotiated Worker’s Compensation and commercial insurance contracts.

• Ingrained fiscal responsibility into this entrepreneurial, rapidly evolving organization.

• Resolved critical financial problems for startup company, including $700K in A/P more than 120 days past due.

• Spearheaded defense against vendor lawsuits. Selected and collaborated with corporate counsel throughout litigation.

ASSISTANT CONTROLLER/ACCOUNTING MANAGER • Williams Brothers, Atlanta, GA (1984 to 1989)

Directed accounting for lumber/building materials division of $80M retail, wholesale, and manufacturing company.

• Zero audit adjustments in 5 consecutive years of audits by Arthur Andersen.

• Reduced time to produce financial reports for internal management by 30%.

• Developed and implemented accounting systems (standard manufacturing cost accounting and material receiving) adopted throughout company’s business units. Initiated development of new, automated payroll and attendance systems.

• Performed due diligence and analysis for potential acquisitions; audited target companies’ financial statements and developed valuations of assets. Made recommendations to senior management.

ASSISTANT CONTROLLER • Reservco, Inc., Rosslyn, VA (1980 to 1984)

Full charge accountant for $9M concrete manufacturing company. Supervised department processing $34M in A/P.

• Zero audit adjustments in 5 consecutive years of audits by Alexander Grant.

• Designed, implemented, and maintained innovative job cost accounting system. Coordinated successful conversion from legacy Basic Four to new, automated system.

Previous experience as Cost Accountant and Staff Accountant in financial and healthcare industries.

Education and Training

B.S. with Honors, Business Administration, major in Accounting • Old Dominion University, Norfolk, VA

Sarbanes-Oxley (SOX) seminars • Deloitte & Touche

Hyperion and Upstream training

Foreign Sales Corporations workshops • Internal Revenue Service

International Letter of Credit workshops • Bank of America

Completed 10-week course in The Right Way to Manage • William E. Conway

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