Former Big-4 CPA with MS in Taxation and 25 years in manufacturing.

RICHARD F. MANRIQUE

CORPORATE FINANCE TEAM LEADER

FP&A Forecasts and Budgeting Revenue Recognition

Cash Management Receivables & Inventory Reductions Bank and Equipment Financing

Salem, Oregon 541-***-**** *************@*******.*** linkedIn.com/in/rmanrique9381/

Professional Summary:

Big-Four CPA background with MS in Taxation

25 years of Controller level experience at mid-cap ($100M+), and entrepreneurial companies.

Experience working with Sage 300, MS Dynamics - Great Plains, and Syspro.

Standard costing and inventory reserves, job lot costing with scrap valuations, rolling average costing, specific identification, and construction project costing, Machine time allocation for heavy equipment situations.

Revenue recognition in accordance with ASC606 rules. ASC842 lease right-of-use assets and liabilities.

Areas of Expertise:

Forecasting and Budgeting

Metrics & KPI Analysis

Working Capital Improvements

Variance and Cost Analysis

Cash Planning

Inventory Controls

Bank Financing & Insurance

Multi-State Sales Tax Reporting

Process workflows

GAAP and Internal Controls

Relevant Achievements

Changed sales focus at $70M food processor emphasizing contribution margin per order vs. prior volume-only focus; quickly improved margins by 3%. 15% sales to China – constant tracking AR position vs. credit limit. Attacked large past due AR balances and collected $3M in past due accounts improving cash position. Worked to bring in new financing sources to replace $30M in LOC and equipment financing. Used MS Dynamics – Great Plains.

Controlled 28% sales growth at $120M wood pulp mill with 65% sales to Asian customers. Tracked and discounted letters of credit for Asian shipments. Internally financed of over $240M in capex projects over 9 years generating 28% capacity expansion. Developed overhead absorption rates per ton for $96M in operating assets. Controlled $15M in annual maintenance and OPEX requirements. Extensive FP&A modeling on margins for international sales, wood fiber raw materials, and energy costs. Used SYSPRO GL system.

Controlled 400% growth at automotive sheet metal fabricator building concept cars for Chrysler, Daimler-Benz, and Rolls Royce Bentley. 25% export sales. Wrote and implemented time and material tracking system for direct costs. Estimated and controlled indirect costs and their allocation to project WIP based on estimated labor hours. Used SAGE 300.

Multi-state inventory controls, operating controls, and multi-state payroll and sales tax reporting.

Multiple instances of closing time reductions with elimination of reporting errors.

Professional Experience

Controller Meduri Farms, Inc., Dallas, Oregon Jan, 2023–Sep, 2023

Controller’s functions at $75M fruit drying processer selling wholesale within US and internationally.

Weekly borrowing base and cash position reporting to management and bank.

Extensive collection activities to bring in $3M in past due AR; weekly disbursement control.

Constant monitoring of margins on sales efforts. Led change in management focus to gross-margin-dollar-contribution vs. focus just on volumes being shipped.

Change from annual budget to rolling 12-month forecast updated quarterly.

Supervision of standard costing, inventory reserves and individual product cost roll-ups utilizing MS Dynamics – Great Plains. Analysis of margins by customer; effect of extended term customers on cash flows; monitored inventory levels vs. production forecasts.

Consultant NOWCFO and Robert Half – Portland, Oregon Jul, 2021–2022

Contract assistance in managing accounting department functions for various industries.

Performed 50-state sales tax nexus review for apparel manufacturer.

Controller Baldwin General Contracting, Inc., Albany, Oregon Dec, 2018–May, 2021

Self-financed 100% increase in sales ($18M to $38M) by accelerating AR billings and collections.

Controlled build-out of 4 $12m hotels, a 40-unit townhouse development, and various commercial projects.

Approved all monthly project payment applications, supervised subcontractor lien releases and payments.

Preparation of project WIP status at month-end, over/under billings, and bank LOC presentations.

Approved craftworker payrolls in accordance with BOLI rules, including certified payrolls.

Managed cash flows, payments, and established project financial goals for project managers.

Consultant Robert Half Management Resources — Portland, Oregon 2018

Controller Cascade Pacific Pulp, LLC — Halsey, Oregon 2008 – 2017

Wood pulp mill with over $110M in annual revenues with 60% exports to Asian markets. Standard target costing utilizing SYSPRO ERP with 4 direct reports.

Key Achievements:

Introduced weekly cash plans, 13-week cash forecasts, and 12-month rolling budgets updated quarterly.

Coordinated development of annual operating budget, plus CAPEX and OPEX budgets with GM.

Led monthly target cost variance analysis, including machine downtime analysis, effects of off-qualify production, critical department run-time analysis, effects of volatile energy costs on costs per ton. Updated overhead costs per ton projection for rolling 12-months forecast.

Controlled and self-funded over $240M in CAPEX and OPEX industrial projects over 8 years.

Monthly PowerPoint presentation of financials including actual to budget product cost deviations, margin analysis by world market / customer / product line. 20-page monthly reporting package to Asian HQ.

Led $6M bank line-of-credit negotiations, bank AR audits, outside CPA audits, and internal HQ audits.

Led IT initiative reducing monthly closing times from 12 to 3 days while eliminating Excel errors.

Controller The Plies Companies — Orange County, California 2002 – 2007

Land development

Project construction forecasts, loan support and project accounting for developer of commercial properties.

Pre-construction project cash flow and financial planning.

Project cost accounting, subcontractor progress billings, lien releases, retentions and progress payments.

WIP reporting, project section cost overrun analysis and corrective action, updating overall cost projections.

Agilent Technologies, Worldwide Equipment Leasing Division, Santa Clara, CA 2000 – 2002

Revenue accrual of equipment leases from 42 countries using legacy HP systems

Found $10M of leases never activated, and $10M in chargebacks to HP.

Responsible for $850M balance sheet close – reduced close from 15 to 3 days within 3 months.

Controller - Matthews Studio Group, Inc. — Burbank, California 1998 - 2000

$25M nationwide retail sales and industrial lighting projects division.

Multiple concurrent lighting projects from $500k to $3.5M.

Over 10,000 inventory SKU’s; re-organized warehouse to reduce ship time from 4 days to 4 hours while reducing warehouse staff by 25% in 6 national warehouses reducing pilferage and inventory damage.

Generated $3.5M in new cash flow by reducing inventory by 37% and AR turnover from 91 to 42 days; self-funded 62% revenue growth over 15 months from $15M to $26M increasing retained earnings by $4M.

CFO Metalcrafters, Inc. — Fountain Valley, CA 1988 - 1997

$26M Preeminent US automotive prototype builder of sheet metal concept cars

Multiple-concurrent automotive prototype construction in sheet metal.

Financed expansion from 6,000 to 125,000 sq. ft. of manufacturing space, and growth from 30 to 185 employees while controlling 400% revenue growth.

Installation of SAGE GL system and wrote separate inventory system controlling Rolls Royce inventories.

Acquired $4.5M in equipment leases transforming heirloom hand-forming operations into world-class metal forming works and allowing production of identical multi-car runs.

All bank negotiations and acquisition of $2.75M in new lines of credit.

Successfully navigated IRS corporate tax audit.

Public Accounting – Senior Auditor Ernst & Young – Los Angeles, California.

Manufacturing and project accounting clients (film industry, apartment construction, road building contractors).

Discovered $1M fraud at SEC client.

Education and Qualifications

Master of Science in Taxation - Golden Gate University — San Francisco, California

Bachelor of Science in Accounting - University of Southern California — Los Angeles, California

California CPA License #23662 (expired)

CPA exam passed in first sitting. License allowed to expire at termination of private practice.

System Skills: MS Dynamics/Great Plains, SYSPRO, SAGE300, JD Edwards, Lawson, QuickBooks Contractor Pro + CORECON project management software

Microsoft Office: Word, PowerPoint, Advanced Excel including pivot tables.

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