Accounting Sales

KEN CARPENTER

713-***-**** / *****@***.***

SUMMARY AND SKILLS

A financial and manufacturing accounting leader that is growth and goal oriented with extensive accounting and finance hands-on experience and knowledge in manufacturing and corporate environments within the Chemical and Oil & Gas industries. This includes multi-locations, multi-businesses, multi-product lines for both publicly traded and private equity companies. I am a strong proponent and driver of value-added change involving Lean Manufacturing and Lean Financial & Accounting concepts and applications.

Accounting Skills

Manufacturing Accounting & Inventory: Cost Accounting, Standard Cost, Job Cost, Actual Costing, Percentage of Completion, Physicals, Cycle Counts

Financial Reporting & Analysis: Income Statements, Balance Sheet, Cash Flow Statements, Planning, Budgeting, Forecasting, Audit Reports, Management Reporting (ad hoc), Internal, External, Consolidations (domestic & international), Financial Modeling & Key Performance Indicators (KPI)

General & Financial Accounting: Revenue recognition, Account Reconciliations, Intercompany Accounting, Payroll, Headcount Analysis, Sales Tax, Banking, Journal entries, Accruals, Audit Support, Tax Provision, Accounts Payable, Accounts Receivable

Sarbanes–Oxley (SOX): Implementation, Reporting, Audit

Management: Financial Reporting, Payroll and Benefits Planning/Development/Negotiations, IT, Human Resources, Insurance Negotiations, Fixed Assets, Sales, Customer Service (Invoicing & Order Entry)

Operating System Experience, Implementations, and Designs: JD Edwards, SAP, Visual, Sage, Dynamics AX, Infinium, Oracle, Maximo (workorders)

Computer Skills: Microsoft Office, QuickBooks, Powerplay, PC Databases, Access, Crystal, FX, TM1, Hyperion, Spotfire, Excel/Pivot Tables/Macros

PROFESSIONAL EXPERIENCE

TPC Group

HMO Plant Controller - Houston, TX

2019-May 2020

A member of the Houston Manufacturing Operations and TPC Financial teams managing the Fixed, Variable, and Support accounting functions for manufacturing plant located in Houston. Provide support and reporting for the Plant Manager as well as the manufacturing operations team (with an operating budget of $60MM).

Monthly close process and account reconciliations

Capital verses Expense determination

Maintenance (routine verses non-routine)

Turnaround expenses, reporting, and amortization

Forecasting and budgeting development and reporting

Management Reporting

Flotek Industries

Corporate Manufacturing Controller - Houston, TX

2015-2018

Integrated the accounting, manufacturing, sales, and management groups in the Energy Chemistry Technologies (ECT) segment as well as the accounting group in the Consumer and Industrial Chemistry Technologies (CICT) segment after restructuring the ECT accounting groups of Flotek a public traded company with revenues excess of $300 million/year. Managed a staff of 15 that consisted of multi business controllers, manufacturing cost accounting, invoicing, accounts payable, accounts receivable, and fixed assets.

Improved internal reporting and relationships to include: established standard and adhoc sales reporting that was integrated with the sales department creating pricing, costing, and gross margin reports and analysis for products, product lines, product groups, customers, sales regions, and businesses.

Controller’s Liaison between the accounting and IT departments.

Controller’s representative on the JDE implementations and business re - implementations.

Initiated and developed the restructuring of the management reporting design for the entire ECT segment.

Developed and lead the integration of the acquisition of IPI a Quar business out of Dalton, Ga in the ECT segment.

Financial member on the creation and implementation team of the Prescription Chemistry Management (PCM) business providing direction and support for the accounting performed in JDE Job Costing as well as being a key person in the development of the entire PCM business process.

Closed several unprofitable businesses within the ECT segment including the acquisition of IPI.

Established and implemented the revenue recognition procedures, reporting, and audit support documentation memo.

Developed and implemented the restructure of the forecast and annual budgeting process.

Prepared quarterly financial reporting for the company income statement including the MDAs for all the divisions.

External Audit contact for all accounting related to manufacturing and reporting.

Prepared company inventory audit procedures and SOX requirements.

Dixie Chemical Company

Controller and VP of Finance - Pasadena, TX

2011-2014

I restructured and reorganized the financial, accounting, and IT service groups along with managing the departments and staff that were responsible for the finance, accounting, payroll, and IT functions of a specialty chemicals company with revenue $118 million/year to excess of $150 million/year. Responsibilities also include banking; financing; payroll; benefits and design; legal exposures; external audit reporting; external finance reporting to include the board of directors, bank, financial institutions, government, outside service groups; product costing and pricing; internal reporting and analysis; forecasting and budgeting; working capital and capital expenditures; system designs and implementations; plant consolidations and integrations; risk management; and special projects to include refinancing and sale of the company.

Improved external reporting and relationships to include: cleaning up the Annual Audited Financials for historical years; prepared and cleaned up banking audits regarding covenants; board covenants; insurance policies and audits; monitored and changed investments for retirement; reviewed and approved corporate statements, realigned and established external services.

Improved internal reporting and relationships to include: designing monthly management reports; improving payroll reports; working capital process and reporting; inventory costing, reporting, and audits; 401K and pension investments; insurance negotiations; and annual benefits renewals and negotiations.

Transitioned company audits and reporting from annual to quarterly audits the accounting firm Ernst & Young

Implemented “Lean Accounting” to restructuring and reorganizations.

Improving customer service generated from the IT department, finance, and accounting departments.

Developed and implemented a more efficient standard cost process through changes to the bill of materials, annual overhead rate calculations, and rolling standard costs more frequently to better represent the current costs for products produced.

Developed an integrated pricing process and real time reporting to aid the salesmen, marketing, invoicing, and the customer service groups.

Improved the cash management process to include DPO from 14 to 30+ and the DSO from 42 to 25 allowing the debt to be paid off quicker. The improved cash flow also allowed for two substantial annual cash dividends.

Developed more efficient budget and forecast processes from bottom up providing more efficient reporting for management, board, banking, and other external institutions.

MIC Group

Controller - (Multi Sites) - Brenham, TX

2008-2010

Responsible for the accounting, payroll, and order entry functions to include product costing and pricing; financial reporting and analysis; forecasting and budgeting; working capital and capital expenditures; system designs and implementations; and, plant consolidations and integrations of two $75 million/year contract machining and assembly companies serving major world-wide oil and gas service companies.

Integrated the accounting, operations, and financial reporting of two acquisitions with two separate operating systems and financial systems into that of the parent company doubling the revenues and operating income of the parent.

Developed a SOX process to include narratives, matrix, and audit procedures as well as conducting audits decreasing the field times 4-6 weeks.

Lead and organized annual inventory physicals and implemented a daily cycle counting process.

Created a centralized payroll department using one payroll system, ADP and later ECI for five locations.

Re-implemented an upgrade of the existing Visual operating system and implemented a start up of the Visual financial system.

Developed and implemented standard product costing for all locations working with operations to develop BOMs and Routers.

As the accounting and financial representative on the JDE design team I led the implementation of the JDE system for financial accounting, manufactured accounting, reporting, and standard costing processes across the company including individually designing and creating the chart of accounts as well as conducting the training of the financial groups.

National Oilwell Varco (NOV)

Plant Controller - Houston, TX

2005-2007

Managed a staff of five and handled the financial close process, financial reporting, financial analysis, annual tax & audits, and planning (annual plan and rolling monthly forecasts) of a $1 billion/year Galena Park manufacturing facility providing offshore and land rigs as well as other equipment for the worldwide oil and gas industry.

Established a Sarbanes-Oxley policy, procedures, and reporting in conjunction with the corporate requirements including monthly and annual audits.

Performed job/project costing, percentage of completion, and standard costing.

Designed and implemented standard costing for the rigs and mud systems creating bill of materials (BOMs) and Routers along with establishing labor and overhead rates.

Designed a multi-year forecasting model along with monthly financial reporting and measurements.

Alamo Title Company

Vice President of Marketing - Houston, TX

2003-2004

Led the marketing team of a Southwest leading provider in title insurance for personal and investment property. Created, implemented, and established marketing campaigns along with establishing and strengthening relations with customers for North Brazoria County, South Harris County, and the Galveston Area.

Weatherford International, Inc.

ALS Division Cost Manager - Houston, TX

2000-2002

Oversight of all the manufactured and distribution accounting functions including a staff of 12 responsible for product costing, site and corporate expenditures, inventory management, fixed asset management, and invoicing for 5 manufactured locations and 120 plus distribution retail locations for one of the world’s leading providers of equipment and services used for the drilling, completion and production of oil and natural gas wells.

Integrated multiple acquisitions all with different operating systems into the parent operating system.

Designed and implemented the manufacturing accounting and financial accounting processes for JDE across the company as a member of the Corporate JDE Implementation Team responsible for the Cost module and training.

Designed, implemented, and conducted annual inventory physicals and daily cycle counts for all locations.

Established product standard rates to include material, labor, and overhead to be absorbed in the manufacturing process and inventory valuation.

Westlake Group

Business Analyst - Houston, TX

1999

Designed, developed, prepared, and provided analysis of the annual/monthly estimates, budgets, forecasts, income statements, and financial models for potential acquisitions for the Polymers, Ethylene, and Styrene businesses. Private owned company manufacturing petrochemicals for plastics and fabricated plastic products in both the olefins and vinyl markets.

Dow Chemical Company

Controller Analyst - North America/Pacific Polyethylene – Midland, MI

1995-1998

Managed and prepared all the financial reporting and accounting processes and staff across the North American, Pacific, and the South American areas related to the Polyethylene business.

Implemented new standardized reporting formats and tools for the North American, Pacific Area, and Latin Area Polyethylene business which generated approximately 33% of the company’s annual profits with approximately $8 billion in annual sales.

Cost Management Reporting Manager – U.S. Area – Midland, MI

1993-1995

Led the project for consolidation and standardization of the accounting practices and systems at eleven U.S. manufacturing sites of the Continental Operations Division.

Led the accounting teams in the implementation of SAP for the accounting support services and the manufacture costing.

Managed accounting groups for multiple sites across North America

Site Controller - Boride Products, Inc. a Dow Subsidiary - Traverse City, MI

1992-1993

Analyzed the historical losses and high operational costs of a subsidiary with three business units. As a result, recommended and completed the sale of the Abrasive business. Profitability of the subsidiary increased by $500,000.

EDUCATION AND OTHER

Sam Houston State University, Huntsville, Texas

B.B.A., Accounting, (w/graduate hours)

Texas A&M University, College Station, Texas

B.B.A., Management

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