CFO / Controller

James A. Scott

Professional Profile

• Experienced financial manager in manufacturing and distribution industries managing all financial functions including

international accounting, just-in-time inventory management, banking relations and tax preparation.

• Exceptional management record in accounting operations, budget development, cash management, cost reductions, inventory

cost management, insurance negotiations and external audits.

• Aptitude to think “outside the box” working closely with executive team and operation leaders.

• Outstanding proficiency to create advanced analytical presentations, charts and reports.

• Extensive project administration of ERP evaluations and implementations.

• FMP Certification - 2 year MBA equivalent Financial Management Program, sponsored by General Electric Company.

Professional Experience

Interim Controller American Bolt & Screw Manufacturing Co., Ontario, CA 2009 – 2010

$20 million distributor of fasteners and hardware with 6 warehouse locations.

• Reduced credit line borrowing requirements by $1 million through lowered A/R collection days, quick sale of excess

inventory, improved cash management, and cost reductions.

• Developed 2010 pro forma income statement, balance sheet, and cash flow to secure bank lender options.

• Modified accounting practices to adhere to GAAP policies avoiding significant year-end CPA adjustments.

• Implemented replacement 3rd-party payroll system thus reducing costs by 23%.

• Optimized inventory accuracy by modifying adjustments, stock returns, costing and receiving accrual procedures.

Short-term assignment to prepare credit line lending packages for mid-market banks, negotiate maximum borrowing base, and secure replacement lender. Secondary focus was to implement cost reduction opportunities and correct significant perpetual/book inventory variances. Prepared position vacated by 30-year retiring controller to be assumed by less expensive accounting manager. Managed staff of 3.

Director of Finance HCS-Cutler, Inc., Rancho Cucamonga, CA 2008 - 2009

$50 million distributor of construction tools and industrial supplies with 7 retail locations.

• Performed internal audit prior to 2007 CPA Review resulting in a $300 thousand profit improvement.

• Initiated new product delivery charge plan resulting in over $250 thousand increased annualized profit.

• Introduced 3% billing charge for credit card payments leading to an additional $150 thousand profit.

• Implemented computer automated alert system on critical inventory conditions, sales quotes below minimum profit margins,

and warning notification on expiring vendor rebates.

• Created financial reporting packages to meet bankruptcy court requirements.

Manage all financial operations including bank relations, government reporting, insurance analysis, and information technology. Special emphasis was required on cash and reserve fund management during construction industry recession and bankruptcy filing. Managed staff of 10.

Controller Spa Builders Systems Group, Corona, CA 2004 - 2008

$45 million manufacturer of electronic controls for above-ground spas.

• Initiated monthly operating budgets, performance reporting, and management reviews.

• Created new reporting charts to present daily, weekly, and monthly performance to executives.

• Re-engineered accounting, materials management, and customer service job functions to improve company-wide efficiencies.

• Trained Senior Buyer promoted to new Materials Manager position on inventory management techniques, stock shelving

controls, cycle count process, and physical inventory procedures.

• Implemented multi-currency operations and managed international business expansion.

• Developed procedures to shorten month-end closing process from 10 to 2 days.

• Implemented inventory standard costing operations within the existing accounting system.

Directed all financial operations including accounting functions, cash flow management, bank negotiations, multi-currency accounting, budget development reporting, and external audits. Managed staff of 4.

Controller Frontier Aluminum Corporation, Corona, CA 2003 - 2004

$50 million manufacturer of custom extruded aluminum products.

• Developed process to lowered month-end closing cycle from 12 to 4 days.

• Initiated financial “flash” report of weekly business results for senior management.

• Reduced customer past due balances by 15% resulting in over 30 days from 23% to 5%.

• Created numerous automated procedures to replace manual processes.

• Simplified controllership function to transfer position to general bookkeeper.

Directed company A/R, A/P, G/L, collections and cash management operations. Audited monthly physical inventory activities to improve accuracy. Managed staff of 5.

Interim Division Controller Empire Companies, Inc., Ontario, CA 2002 - 2003

$400 million division of master-planned residential community developer.

Temporary assignment: Managed project pro forma development, developed project cash flows & cash requirements, analyzed financial statements and budget variances. Produced business plans for executive presentations. Assisted project managers in budget development and reviews. Established accounting policies and documented processes. Managed staff of 2.

Controller Injex Industries, Inc., Hayward, CA 1997 - 2001

$45 million just-in-time manufacturer of interior plastic components and door panels assemblies for new automobiles assembled by Toyota and General Motors.

• Reduced customer receivables by 18% past due resulting in $740K increased cash flow.

• Negotiated business, workers’ compensation, and employee benefit insurance contracts to reduce premiums by $150K per

year.

• Converted 400-employee payroll timekeeping system from manual timecards to electronic clocks and linked automatic

interface with ADP payroll.

• Managed implementation of 60-workstation computer network to improve internal communications, reduce paper usage, and

centralize data storage.

Directed all accounting operations including accounts receivable, accounts payable, payroll, insurance negotiations and information technology. Managed reporting of financial and operating results including monthly performance and variance analyses. Developed bills of materials and standard costs for production and post-production service items. Interfaced with all external organizations regarding finance, banking relations, employee benefits, insurance, and information technology. Managed staff of 6.

Prior positions include:

Manager of Accounting Software Development (Triad Systems)

Assistant Controller (Triton Financial Corporation)

Accounts Payable/Payroll Manager (Shaklee Corporation)

Product Line Cost Controller (Memorex Corporation)

Financial Analyst (General Electric Company)

Education

BA Degree – Mathematics University of La Verne, La Verne, CA

FMP Certification–Financial Management Program General Electric Company, San Jose, CA

Technical Skills

Accounting Applications: MAS-90, Macola, Prophet 21, AccountMate, AccPac and QuickBooks

Office Tools: Microsoft Excel, Word, Outlook, PowerPoint, SQL Analyzer and Crystal Reports

ERP System Evaluations: Visual Manufacturing, MAS-90/2000, JD Edwards, Oracle, Epicor and Lawson

Professional Affiliation

Institute of Management Accountants, Inland Empire Chapter (Director of Young Professionals)

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