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Accountant

Location:
Torrance, California, 90503, United States
Posted:
October 31, 2018

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Resume:

Bernice Senft, MBA ***** Amie Avenue #***, Torrance, CA 90503

Telephone: 310-***-**** Email: ac7khu@r.postjobfree.com LinkedIn URL: https://www.linkedin.com/in/bernice-senft

Accountant

Expertise in general accounting and accounts payable with significant experience in financial services, manufacturing, and aerospace. Designs and enhances schedules to reflect monthly activity, analysis and calculation of accruals, and reconciliation to general ledger balances. Creative problem solver thrives on challenges, takes initiative to delve into issues, exercises good judgement, does quality work, takes ownership of projects, and completes them with flexibility and resourcefulness. Motivated, detail oriented self-starter is proactive, well organized, and handles multiple tasks with minimal supervision.

Skills & Abilities

Proficient with Microsoft Office, Excel, Word, and Outlook. Used MYOB, Microsoft Dynamics, Baan, and Mac/Pac. Areas of expertise include: General & Inter-Company Accounting, General Ledger, Accruals, Journal Entries (Recurring, Non-Recurring, Reversing & Adjusting), Month-End Close, Account Analyses & Balance Sheet Reconciliations, Accounts Payable, Bond Debt Payable, Contract Amortization, Fixed Assets, Cost Center Allocations, Receivables, Bank Reconciliations, Financial Statement & Schedule Preparation, Trend & Variance Analysis, Design & Preparation of Financial Reports, Internal Controls, Audit, Research, Problem Solving, Process Improvements, Compliance, and Communication.

Experience

NORTHROP GRUMMAN AVIATION DIVISION, El Segundo, CA

Client of Chipton Ross, El Segundo, CA

ACCOUNTANT 2 Generalist (November 2016 – August 2017)

Developed generalized desk-top accounting procedures for fixed asset depreciation, flight hour schedules and charts, financial review package, and accruals for sales and use tax, fuel, and engine reserve.

Inspected invoice packages for supporting documentation and approvals before checks were issued.

Examined AP Account for payment of fixed assets, fuel, aircraft maintenance, chartered flights, rent, utilities, telephone, and other expenses. Verified expense code and requested reclassification when appropriate.

Researched paid invoices and prepared preliminary schedules for sales, use, and property tax returns. Reconciled prior years’ property tax schedules to actual payments.

Determined monthly fuel accrual by applying flight hour data to aircraft burn rates. Reviewed invoices to determine month fuel was used and applied payments by month to reduce outstanding accrual amounts. Recorded invoiced gallons and cost to develop average monthly fuel price and isolate high cost flight destinations.

Ascertained accruals for engine reserve, pro-parts, and pro-advantage plus maintenance plans by applying calendar month flight hours to vendor prices. Analyzed prior year transactions and developed template to record current year accruals and match invoiced payments by flight hours, unit cost, and total cost. Reconciled actual results against projections.

Reviewed sales and use tax payable transactions for new accruals and payments made by the tax department. Updated schedules by state for monthly accrual sent to tax department for processing payments.

Prepared financial schedules for senior management review. Incorporated flight hour data and sector schedules with balance sheet and profit and loss statement for customized statements illustrating how flight hours and sector costs provide revenue.

Created monthly year-to-date schedule comparing actual performance against projected budget. Researched and identified items comprising major changes in balance sheet and income statement items by reviewing GL ledgers, isolating unusual entries, and scrutinizing invoices. Designed schedule comparing current year-to-date performance against prior year-to-date performance.

Prepared revenue schedules for three sectors by applying flight hours to each aircraft’s cost to determine sector billable rates. Used interdivisional accounting transfer data to find incidental rates charged to sectors.

Bernice Senft, MBA Page Two

Reviewed fixed asset transactions for new purchases, sales, and retirement. Prepared new asset schedules to calculate depreciation. Prepared month-end and year-to-date schedule for management’s monthly accrual entry. Updated capital lease schedules for actual amounts and dates paid.

ALL MANAGEMENT CORPORATION, Manhattan Beach, CA

Non-profit Student Loan Organization

SENIOR ACCOUNTANT (January 2005 – March 2016)

Designed methods for monitoring bond payable activities to achieve and maintain high quality and accurate work papers. Revamped bond payable area to reflect ongoing monthly activities such as interest rate changes, debt retirements, new issuances, and cash payment of interest expense.

Reviewed invoices, obtained approval, and submitted documents to trustee for payment to vendors.

Examined employee expense checks and supporting documents before entering on log sheet, scanning, and distributing checks.

Analyzed and maintained journals for amortization of bond discount, cost of issuance, and prepaid trustee fees. Prepared accrual journals for bond debt interest, auction rate fees, and broker dealer remarketing fee payable accounts. Checked accuracy and timeliness of invoices against accruals. Compiled and analyzed data before preparing accrual journals for trustee activities and interest income.

Studied monthly loan servicing reports and calculated portfolio management fee payable based on loan volume. Accrued monthly expense and prepared cash requisition for payment to the management company.

Requested updates to chart of accounts when new transactions required additional accounts.

Created, implemented, and maintained subsidiary ledgers for handling loan servicing costs from vendors using the same account number. Accrued and prepared monthly expense journals for each vendor and entered in appropriate ledger. Linked monthly activity to summary spreadsheet and reconciled to trial balance.

Planned, prioritized, and implemented general accounting activities through financial statement preparation for two entities. Drafted detailed procedures for handling accounting transactions. Reviewed intercompany transactions and reconciled monthly. Reconciled trustee bank statements for two entities.

Forecasted cash flow from student loan payments for two state entities and prepared annual budgets.

Designed templates to present quarterly financial results. Prepared and distributed quarterly financial packages for management, regulatory authorities, and bankers for two entities.

Provided responses to external audit, regulator, and trustee requests for information.

FLOWSERVE USA INC., Vernon, CA

Manufacturer of Pumps, Valves, and Seals

ACCOUNTS PAYABLE SUPERVISOR (March 2002 – February 2004)

Coordinated payable activities for 13 service centers and 2 plants processed in Vernon, CA and 26 service centers processed in Houston, TX. Directed activities of 5 AP Specialists, oversaw daily payable affairs with $100 million in checks and wires annually. Developed a handbook with detailed guidelines for handling supervisory transactions in Baan modules. Helped Service Center buyers, managers, and controllers use various Baan modules and emailed guidelines for training as needed.

Interpreted and translated new system requirements to facilitate transfer of AP bank account to a new platform by working with bank and IT to test updated software on existing programs, documenting steps, and implementing procedures to ensure consistency, save time, and reduce risk.

Worked on two Six Sigma Projects to improve processes for receiving, inspection, buyer approval, 3-way matching, issuing checks, and posting to GL. Documented flow of invoices from vendors through Service Centers to AP and worked with staff to improve flow of documentation. As a result, invoices arrived faster from Service Centers and more invoices were processed without exception.

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Reviewed invoices and employee expense reports for authorized approvals and supporting documentation entered in system by AP specialists.

Issued checks and forwarded positive pay to bank. Reconciled paid checks daily. Processed global netting journals for transactions with foreign entities and forwarded file to international bank for netting.

Worked with controllers, purchasing managers, buyers, project managers, and IT to resolve problems and expedite payments.

LOGICON INC., San Pedro, CA

Aerospace Contracts

SENIOR ACCOUNTANT (August 2000 – July 2001)

Transitioned accounting for fixed assets, cost allocations, and bank payroll reconcilement to headquarters in VA. Worked with auditors regarding fixed assets, cost center allocations, and sales taxes.

Wrote procedures for booking contracts, amortizing revenue from contracts, allocating expenses to cost centers, depreciating fixed assets, and accruing and paying commissions. Documents provided framework for new entity.

Compiled and analyzed data before preparing and recording monthly journals for cost center allocation, fixed asset depreciation, contract amortization, and commission accruals. Reconciled payroll bank account with ACH and check activity of $6 - $12 million monthly. Processed stop payment requests with bank.

Calculated commissions on $115 million portfolio of contracts for Oracle software sales. Reviewed monthly sales activity and updated each representative’s schedule of new sales, commissions earned, and commissions eligible for payment. Presented schedules to management for approval and forwarded to payroll for payment. Prepared monthly tables of commissions earned, accrued, and paid for each representative and reconciled by contract, project, task, and element of cost account numbers. Verified outstanding unpaid commissions to each representative’s schedule.

Prepared monthly contract amortization journal to recognize income on portfolio of contracts and posted to GL. Reviewed contract files for activity and maintained spreadsheet of contract amortization by contract, project, task, and element of cost. Reconciled spreadsheet to GL and completion of contracts. Investigated variances.

Prepared cost center allocations, over/under absorption schedules, and weekly spot reports. Used billing rates and models prepared by managers. Allocated fringe and facility overhead expenses as a percentage of labor costs. Allocated month-to-date expenses to appropriate cost center. Researched direct and indirect cost issues.

INTERNATIONAL RECTIFIER, El Segundo, CA

Manufacturer of Semiconductors

SENIOR ACCOUNTANT (December 1997 – July 2000)

Supervised (January 1999 – July 2000) AP staff of 7 at month-end closing and trained staff regarding accruals.

Helped implement AP interface for processing work from off-site facility. Handled purchase invoices of off-site facility with paid payables of $150 million annually. Worked with tax department and validated invoices with accrued sales tax to GL.

Handled full cycle AP, matching invoices to PO’s and receiving accruals, issuing checks, reconciling vendor statements, and resolving return to vendor items.

Coordinated month-end activities to ensure all accruals and journals were booked properly. Controlled and expedited month-end closing of three entities by developing matrix for AP journals.

Saved firm $160K by negotiating with vendor to reduce price. Reduced stale AP accruals by over $500K by tracing to wires and manually input invoices.

Bernice Senft, MBA Page Four

Supervised (December 1997 – December 1998) 15-20 at month-end closing in AP, corporate and cost accounting, fixed assets, tax, receivables, sales, and finance departments.

Compiled and analyzed data before preparing journals for accruals, prepaid expense, debt, and suspense. Processed AP monthly accruals as reversing journals and reconciled AP Clearing Account.

Coordinated month-end closing by preparing and distributing a timetable of events, reviewing checklist of completed journals, and following up to ensure all required journals were input.

Prepared Cost Allocation journals. Reviewed journals for accuracy. Checked for receipt of cost accounting and Inter-company files so consolidations and reconcilements were done on schedule. Helped consolidate cost figures.

Developed ledgers for leases detailing payment terms and authorizations with current balances linked to spreadsheet that reconciled to GL. This hastened reconciling and prevented duplicate payments.

Prepared Inter-Company Billing Statements for transactions with foreign and domestic entities. Entered invoices from foreign entities in AP module. Researched large price variances.

Assisted in annual budget preparation, year-end closing, and drafting 10 K schedules.

COMPTROLLER OF THE CURRENCY, Glendale, CA

Regulator of Financial Institutions

NATIONAL BANK EXAMINER (December 1989 – December 1996)

Planned and directed operational and financial audits, compliance reviews, and follow-up activities. Supervised portfolio of national banks.

Responsible for staff of 2 to 15 accountants while conducting routine bank examinations.

Evaluated annual budgets, reviewed quarterly financial results, verified accuracy of reports filed with regulatory agencies, and entered summary comments in database.

Prepared comparative Balance Sheet, Income Statement, and schedules supporting capital position and adequacy, loan quality and composition, and liquidity posture. Evaluated adequacy of the Reserve for Loan Losses.

Participated in real estate process examinations. Evaluated credit quality of commercial and residential real estate portfolios.

Identified asset quality and financial problems, detected causes, suggested corrective action, and got management’s commitment to resolve issues. Wrote compliance and financial reports detailing examination findings.

Assessed effectiveness of internal controls, accuracy of financial records, efficiency of operations, and extent of compliance with federal regulations and internal guidelines.

Evaluated financial and information systems and managerial procedures to make recommendations for enhancing operations and reducing risk.

Education

University of Southern California, Los Angeles, CA

MBA – Accounting & Finance

University of Wisconsin - Madison, Madison, WI

BS – Retail/Textiles & Clothing



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