Contractor - Revenue Accountant

Company: MTS Systems Corporation
Location: Eden Prairie
Posted on: May 14, 2022

Job Description:

Company Description smart people. smart ideas. smart choice. A thriving environment for learning, innovation and growth. Why do so many people join MTS Systems Corporation and stay for a career? Because this is a place where you get to apply your creativity, work with smart people on fascinating projects, and make a positive impact on people---s lives. It is a place where you can learn, innovate and grow professionally. Transforming what---s possible with cars, aircraft, bridges, wind turbines and space-age materials --- this is work we dream about as kids. At MTS, it---s a rewarding career path for talented individuals who are willing to work hard, think hard, and commit to solving complex and critical challenges for our customers around the world, many of whom are leaders in their respective industries. By joining MTS, you---ll have access to the latest tools and technologies, along with the support of colleagues who are passionate about their work. You---ll discover a dynamic culture of continuous improvement that extends to our people, one that offers numerous ways to expand your knowledge and advance your career. And because we are a global company, your work may also include world travel. Primary Objective Job Description The Revenue Accountant is a key member of the accounting team of the MTS Test & Simulation division headquartered in Eden Prairie, MN. This position is responsible for performing accurate and timely revenue accounting in compliance with U.S. GAAP and internal controls. Test & Simulation revenue accounting is highly complex, including long-term contracts; a broad portfolio of equipment and service revenue streams; intercompany accounting between subsidiaries in U.S., Asia and Europe; and point-in-time and over time (percentage of completion) recognition methods. The ERP system and the necessary Sarbanes-Oxley (SOX) controls are equally complex. Wide-ranging exposure includes execution of revenue recognition policies and procedures, general ledger accounting, intercompany revenue recognition, audit documentation, SOX controls, cross-functional collaboration, and month-end procedures. Major Areas Of Accountability Actively participate in the month-end revenue close process, including scheduling and processing of revenue recognition programs, preparation and recording of journal entries, performance and analysis of SOX controls, and troubleshooting and resolution of discrepancies. Apply knowledge and understanding of the relationship between the timing of revenue recognition and cost of sales, work in process inventory, deferred revenue, and unbilled receivables. Ensure compliance with internal controls. Prepare and maintain SOX controls documentation. Perform monthly balance sheet account reconciliations, including research and resolution of discrepancies. Assist with review of newly executed global contracts to assess contract terms for point-in-time or over time revenue recognition, subject to manager review. Document conclusion within Salesforce. Active contributor to month end close process and revenue process improvement projects. Participate in team and cross-functional projects. Provide quality service to internal clients, including project engineering team and service team, related to assigned job responsibilities and projects. Serve as a resource for revenue accounting questions and issues. Interact and collaborate cross-functionally with domestic and international accounting, order administration, financial planning and analysis, IT, and corporate financial reporting on a regular basis as needed for assigned job responsibilities and projects. Support internal and external audits and reviews. Maintain orderly, accurate and complete files in support of assigned work responsibilities. Organize records and files in a manner that facilitates retrieval and business continuity. Understand and observe retention requirements. Perform other accounting or analysis projects or duties as requested. Qualifications Minimum Qualifications Education: Bachelors--- degree in Accounting or Finance Experience: 2 years of accounting experience Fundamental knowledge and understanding of U.S. GAAP Experience Preferred Qualifications Certified Public Accountant Public accounting experience Advanced Excel skills Major ERP experience a plus Additional Information All your information will be kept confidential according to EEO guidelines. ITW is an equal opportunity employer. We value our colleagues--- unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.

Keywords: MTS Systems Corporation, Eden Prairie , Contractor - Revenue Accountant, Accounting, Auditing , Eden Prairie, Minnesota