Management Accounting

David A. C. Smith, B. Comm., CPA, CMA

*** ********* ******** ****: 416-***-****

Brampton, Ontario *****.*****.***@******.********.**

L6T 2E6

Profile

CMA with over 25 years of experience in Financial Management, Accounting and Systems implementations primarily at a senior level within diverse industries is seeking a new challenge.

Professional Experience

EXPENSE REDUCTION CONSULTING JUL. 2012 – PRESENT

Owner/operator under Dacs Consulting services Inc.

Expense Reduction Consulting (ERC) is an International "Corporate Cost Reduction Services" firm. Since 1993, ERC has saved small and mid-sized companies in many industries as much as 50% on purchases of supplies and services. We accomplish this by providing practical, long-term solutions to reduce your company's costs for over 40 indirect spend categories

Presenting seminars, workshops, and guest speaker on a webcast radio show on cost reduction strategies and cash flow management initiatives.

Meeting with business owners to determine requirements and opportunities where savings can be generated on a long term basis.

End user of proprietary cloud based CRM and vendor databases for client leads and fulfillment purposes.

Interacting with client’s systems and/or personnel for extraction of data necessary for analysis and subsequent presentation of findings with recommendations.

TELEHOP COMMUNICATIONS INC. JAN. 2009 – JAN. 2012

Chief Financial Officer

$12 million public telecommunication services firm

Hired into new a management team to turn the company around, with cost controls and right-sizing operations. During my tenure the company went from a $2 million EBITDA loss to a positive EBITDA in 2010

Negotiated AR factoring based credit allowing the company to acquire a new switch at a cost of $0.5 million

Initiated and won a classification dispute with WSIB, which moved the company into a telecomm self-insured category saving $10 thousand per year in premiums

Renegotiated corporate insurance policies increasing coverage while reducing premiums by $10 thousand per year.

Uncovered a system design flaw which netted the Company a commodity tax refund of $41 thousand across all its Canadian jurisdictions plus ongoing savings of $3 thousand per quarter.

Managed treasury functions, cash flow, and negotiated US foreign currency transactions

Implemented paperless office strategy across entire company

XENTEL DM INC. / XENTEL INC. (US) 2001 – OCT. 2008

Corporate Controller

$100 million public telemarketing services and entertainment firm with 31 branches in North America

Re-located the finance department geographically and hired 8 staff. Selected, designed and converted to MS Dynamics-NAV ERP system within a 6 month target which resulted in a significant improvement to management reporting

Managed treasury functions, cash flow, and negotiated US foreign currency transactions operating with only a US dollar credit base timing the transactions by monitoring currency market fluctuations

Experience with both Canadian and US G.A.A.P.

Integrated new business units into existing accounting systems and procedures which achieved economies of scale, the elimination of administration staff, while maintaining corporate identities of the acquired corporations. Analyzed and justified the purchase accounting entries for the $10 million acquisition

Established consolidation protocols for multicurrency corporate entities which increased the timeliness and accuracy of public reporting

Designed, implemented and supervised profit center P/L reporting for multi-tier analysis: Client with multiple tours, branch with multiple clients, region with multiple branches and national tours. This changed the management focus and adjusted their future actions on tour locations, impacted on cost structures and altered the client base enhancing profitability

Designed and implemented an automated credit card flow-through system which eliminated 22 man hours of manual labour per week, thus improving the timeliness by 24 hours and the accuracy of the weekly process to 100%

Designed, implemented and converted a second MS Dynamics-NAV system for payroll, including automation of individual state/federal reporting for the US and Canada

Integrated both MS Dynamics-NAV systems with proprietary operation-based system and ensured that the data transferred between the 3 was accurate and stable

Implemented a continuous improvement and automation strategy on accounting closing procedures resulting in significant reduction in annual audit costs each year

Negotiated off lease, fair market value buyouts for a major lease, saving of over $50,000

Supervised staff of 14, 8 directly: conducted performance review, provided ongoing training, user support and hands-on assistance

COLUMBIA MBF 1989 – 1999

Controller

$80 million private company in the steel tube industry, 200 employees unionized

Post acquisition transition Feb. – Oct. 1999

Assisted with the transition to new systems and procedures including collaboration with lawyers, auditors and new management

Coordinated cross functional change management to transition the staff which would remain

Columbia-MBF, a Glynwed International Company 1989 – Feb. 1999

Supervised and directed a full accounting department of 7 employees

Oversaw Credit/Collections and gave the company an industry presence by sitting on an industry-wide credit discussion panel

Managed Treasury functions by optimizing cash flow and ensuring monthly compliance with banking covenants

Negotiated hedging contracts to shield the corporation’s net assets against foreign exchange fluctuations vs. the Pound Sterling on a monthly basis

Led all Financial Accounting, Management reporting and Canadian Consolidation, including the Canadian segment of the UK reporting package which was to be further consolidated for UK public reporting

Authorized Signing Officer and Corporate Officer

Implemented and Supervised the operation of ACCPAC Plus Software on Novell in a Wide Area Network environment

Designed and Implemented a Standard Cost system which resulted in a goal/target setting performance structure for production management and targeted the minimization of gauge loss enabling performance based compensation for the purchasing department saving the company $40-50 thousand a month

Rationalized and Consolidated all Accounting functions into Head Office which eliminated duplicity of functions and 5 administrative positions

Academic Achievements

Certified Management Accountant (CMA) 1991

registered and approved as a consulting CMA, June 2012

chartered professional accountant (CPA), April 2014

Bachelor of Commerce, University of Toronto 1985

Finance and Economics specialist with a philosophy minor in logic and Ethics

Earl Haig S.S., (Willowdale, now part of Toronto) 1981

Ontario Scholar on graduation, OHSSGD

Volunteering and Community service

Rotary Club of Brampton, Heart Lake Dec. 2012 - present

Elected by the Club to the board as secretary for July 2014-2015 term

Elected by the Club to the board as treasurer and president elect for July 2015-2016 term

Interests

Computers, Photography, Genealogy, Astronomy, retired Hockey and Baseball Player/Coach, Currently active in promoting/mentoring on behalf of the accounting profession to university students

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