CFO Controller
Resume:
JOHN A. CALABRESE
Lynn, MA ***02
Telephone: 617-***-****
Email: ***************@***.***
EDUCATION
Bentley University, Waltham, MA
Masters of Science in Finance, 1981
Salem State University, Salem, MA
Bachelors of Science in Business Administration
Major in Accounting, 1978
TECHNICAL SUMMARY
Great Plains Dynamics, Hyperion, SAP, MFGPro, Solomon, AccPac, Real World, Design Data, Peachtree, MYOB, QuickBooks, FRx, ADP, Paychex, Microsoft Excel, Microsoft Project and Microsoft Word.
PROFESSIONAL EXPERIENCE
2008- present
CAMBRIDGESOFT CORPORATION (PerkinElmer acquired CambridgeSoft on 3/24/11)
$50 plus million privately-held services and software developer serving the pharmaceutical and chemical industries.
Controller
• Company was in chaos with rudimentary accounting processes and procedures with zero internal control structure. Main focus was to create, maintain and execute full GAAP, FASB and Sarbanes-Oxley procedures/internal controls in preparation for IPO and/or sale of company.
• Responsible for financial statement preparation/analysis for US, Japan and UK companies within a 3 day closing cycle.
• Restructured General Ledger for more efficient financial reporting and best practices analysis capabilities.
• Report to CFO leading 10 team members in all day to day accounting and financial functions.
• SOP 97-2, 98-9, 81-1, EITF 08-1, 09-3, 00-21 etc., revenue recognition expert as most deals were custom and required complex revenue recognition analysis.
• Responsible for Tax and Audit relationship, Risk Management, Treasury, Bank, and Administration functions. Provide support to Human Resources, Information Technology and Payroll including filing Form 5500s for 401k plan and health plans.
• Created and maintain UK and Japanese subsidiaries with full intercompany transactions, foreign exchange analysis and world wide consolidation using Excel and Great Plains.
• Analyzed 2005, 2006 and 2007 financials to handle IRS tax audits and restatement of 2007 financial statements.
• Assisted CFO with corporate federal and state income taxes specifically R&D tax credit analysis.
• Implemented ExpenseWire for automated, web based online expense reporting integrated with Great Plains.
• Implemented SABRIX sales/use tax software system to automate sales order function for sales and use tax reporting.
• Outsourced major parts of accounting team to India demanding complex time management and organization.
• Managed several sales and use tax audits as well as negotiating favorable settlements saving company tens of thousands of dollars.
• Implemented VAT system generating over one hundred thousand dollars in savings never garnered before.
• Worked as part of acquisition team in support of bidding war for the company. Lead accountant during transition period from PerkinElmer acquisition.
2006 – 2008
ADVANCED METROLOGY SYSTEMS, Natick, MA
$10 million privately-held manufacturer and software developer in the semiconductor industry.
Director of Finance
• While reporting to President direct all P&L, accounting, budgeting, forecasting and financial functions, GAAP, FASB, and SOP 97-2, 98-9, 81-1 etc., revenue recognition expert.
• Responsible for CPA, Tax and Audit relationship, Risk Management, Treasury, Bank, Information Technology, and Administration functions. Expert leadership and resource to Human Resources and Payroll.
• Expertise in WIP, pricing analysis, and inventory control maintaining standard cost system.
• Worked with senior managers in preparing budgets and forecasts with P&L, Balance Sheet and Cash Flow analysis.
• Led team in upgrading business implementation and accounting systems using MFGPro, Excel, Paychex and others. (GL, AP, AR, PO, PR, OE, Inventory, Fixed Assets)
• Maintain banking relationship and investing excess cash.
• Manage corporate federal and state income taxes working with CPA firm to yield best taxable result.
• Senior level strategist and prepare quarter and year-end board meeting reports.
2003 – 2006
ELECTRONIC ENVIRONMENTS, Marlborough, MA
$25 million privately-held infrastructure management company in telecommunication/IT industry.
VP Finance & Administration/Controller
• Directed all P&L, accounting, budgeting, forecasting and financial functions, GAAP, FASB, SOP 97-2, 98-9, etc., revenue recognition expert, and created all processes and procedures as well as internal control setup and maintenance.
• Managed Human Resources, Risk Management, Treasury, Bank, Information Technology, Environmental and Safety, and Administration functions.
• Expertise in construction accounting and bids, WIP, pricing analysis, inventory control and burden rates as well as utilization of labor, billing rates and profitability.
• Led senior managers in preparing business plans with P&L, Balance Sheet and Cash Flow analysis.
• Implemented, designed and maintained sophisticated business implementation and accounting systems using Solomon, Excel, FRx, ADP and others. (GL, AP, AR, PO, PR, OE, Inventory, Project Accounting, Service Dispatch, Service Contracts, Time Reporting, Fixed Assets) saving hundreds of thousands of dollars.
• Leadership role in cost cutting and cash management reducing cost to borrow by 50%.
• Expert in sales and use tax reporting in 20 states.
• Reduced DSO from 85 days to 59 days.
• Negotiated lease programs for fixed assets and vehicles.
• Managed corporate federal and state income taxes working with CPA firm to yield best taxable result.
2001 – 2003
COMPUTERS IN ACCOUNTING, Beverly, MA
Accounting and financial consulting
Accounting and Finance Contract Assignments
• Controller services provided to clients.
• Software analysis and implementation, business process and procedures, internal controls, financial statement preparation and analysis, budgets, cash flow, credit and collections, project/cost accounting, equity and debt financing, tax, HR, MIS, audits, bank relations, fixed assets, sales/use tax, and business tools software selected, analyzed and implemented specifically for each clients’ needs focused on needs assessment.
• Analyzed business information and accounting software market and installed ACCPAC, Solomon, Real World, Peachtree, Quick Books, Excel, FRx and others. (GL, AP, AR, PO, PR, OE, Inventory, Project Accounting, Fixed Assets).
• Implemented employee benefit programs and consolidation of administrative and accounting functions
• Designed 401k programs and stock purchase plans.
• Wrote accounting controls and procedures handbook.
• Negotiated bank lines of credit, raised venture capital funding and set up leasing financing.
2000 – 2001
3PLEX, INC., Cambridge, MA
VC funded cutting edge dot.com software developer in the transportation industry
Controller
• Leadership role in creating and managing the first accounting function within corporation.
• Set up GL, AR, AP, PO, Payroll, Order Entry, Travel Expense and Time Reporting, Project Accounting, Fixed Assets using Great Plains and Excel while integrating the commerce website to maximize financial reporting using FRx to produce financial reports for senior managers to run their business units.
• Designed and implemented complex commission algorithms to maximize return on sales staff productivity.
• Successful Big 5 Audits.
• Designed financial and operational reports and presented to VC firms as well as banks to ascertain funding.
• Negotiated $250k cost savings for web integration to Great Plains linking all company business and accounting systems via the web.
1998 – 2000
XYVISION ENTERPRISE SOLUTIONS, INC., Reading, MA
$15 million publicly held software and services company in the electronic publishing software industry.
Controller
• Managed all accounting, financial, tax planning/reporting, budgeting and forecasting as well as preparing all SEC reporting such as 10K, 10Q, and 8K.
• SOP 97-2 revenue recognition expert, and created all processes and procedures as well as internal control setup and maintenance.
• Handled successful Big 5 quarter-end and year-end audits including all FASB and GAAP issues for public company.
• Implemented consolidation, inter-company, international (Germany, England and France), multi-state and company accounting and reporting.
• Streamlining of staff to reduce cost and increase effective productivity via innovative management methods.
• Hands-on role in implementing and designing key business and accounting systems using Solomon, Excel, FRx and others. (GL, AP, AR, PO, OE, Inventory, Project Accounting, Service Contracts, Fixed Assets).
1997 – 1998
AUTHORIA, INC., Waltham, MA
VC funded and INC. 500 software and services leader in the HR benefits industry.
Controller
• Responsible for all accounting, financial, tax, budgeting, forecasting, cash management, venture capital, bank, audit, and legal relationships.
• Created internal controls process and procedures.
• Analyzed complex contracts for revenue recognition working with legal and senior managers.
• FASB, GAAP, and SOP 97-2 revenue recognition expert.
• Prepared forecasting and budgeting plans to continue to raise venture capital funding in exponential growth phases.
• Worked with project managers to complete work in process analysis to correctly book revenue.
• Implemented company’s first accounting and business systems using Peachtree.
1993 – 1997
AVAILANT, INC., Cambridge, MA
$12 million INC. 500 privately held software developer and services company in the fault tolerant industry.
Controller
• Directed several professionals in day to day accounting as well as financial statement preparation and analysis.
• Senior level strategist.
• Streamlining of staff to reduce cost and increase effective productivity via innovative management methods.
• Prepared forecasts and budgets with segmented P&L, Balance Sheet and Cash Flow for equity and debt fund raising as well as management planning.
• Trustee for profit sharing plan that grew from zero to $2 million in net assets.
• Board member for software company implementing strategic planning process.
• Structured company to cut cost and focus on creative cash flow management.
• Negotiated, implemented and designed two complex business implementation and accounting systems using Real World and Design Data, Excel, FRx and others. (GL, AP, AR, PO, PR, OE, Project Accounting, Time Reporting, and Fixed Assets).
• Created burden rates, cost per billable hours and other labor intensive financial models for analysis.
• Designed financial model tracking key business ratios benchmarking company with industry.
1989 – 1993
TRAKON INDUSTRIES, INC., Amesbury, MA $12 million LBO distributor of second grade printed circuit board laminate in the printed circuit board industry.
Controller
• Directed financial, accounting, planning and inventory management for this LBO.
• Created and implemented accounting and business systems for inventory and cost management as well as GL and day to day.
• $100k annual savings in employee medical coverage through innovative methods.
• Reduced DSO from 75 days to 40 days.
• $75k annual savings in company property/casualty program.
• Packaged company for sale and prepared all financial reports for successful sale.
• Prepared business plans using P&L, Balance Sheet and Cash Flow for debt fund raising.
1986 – 1989
INCOMRX SYSTEMS, INC., Peabody, MA
Limited Partnership funded software developer and services company in the health industry.
Controller
• Hands-on accounting and financial role responsible for day to day accounting, cash management, budgeting, MIS, audit, banking, financial reporting and HR function.
• Negotiated complex tax deals with IRS and states.
• Innovative cash flow processes to maximize cash flow during difficult periods in company growth.
• Significant negotiations with IRS, banks, legal, and vendors to keep companies in business to facilitate survival and growth while nursing to profitability and success.
• Negotiated $500k line of credit and raised $1 million in funding from limited partners.
• Expertise in preparing business plans with full scale P&L, Balance Sheet and Cash Flow for equity and debt fund raising in growth phases for privately held company.
• Improved and redesigned business implementation and accounting systems using Real World and Excel. (GL, AP, AR, PR, Fixed Assets)
1978 – 1986
PRIOR EXPERIENCE
Senior accounting and business roles with blue chip and start-up companies.
• Negotiated $500k line of credit for start-up with zero credit and many several million dollar loan deals.
• Analyzed pooling of interest accounting scenario during purchase of another company.
• Developed and implemented health benefits, 401(k), ISO and stock purchase plans.
• Foreign exchange analysis and pound to dollar conversion via consolidation of foreign subsidiaries into corporate financial statements.
• Day to day accounting including journal entry and financial statement preparation, prepaid expense analysis, bank reconciliations, general ledger account analysis, P&L variance analysis, budgeting, forecasting, property taxes, corporate income taxes, credit and collections and fixed assets.
• Accounts Payable Manager supervising 6 clerks in day-to-day vendor relations function.
• Credit and Collections Manager for billion-dollar blue chip company taking DSO from 80 days to 47 days.
• Worked with consultant to provide health benefits and 401(k) plans for all employees.
• Trained staff on accounting systems using Real World, Excel, and others. (GL, AP, AR, PO, PR, OE)
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