L3HARRIS WESCAM Division
Waterdown, Ontario
About L3HARRIS WESCAM
As a subsidiary of L3Harris Technologies and within the Integrated Mission Systems Segment, the WESCAM division develops the most advanced optical sensor and targeting systems for global defense and military sectors, National Security, Search & Rescue and Airborne law enforcement agencies. From long-range covert surveillance missions to search and rescue operations, our MX-series systems, and the mission systems solutions they are a part of, produce stabilized high-magnification electro-optical and infrared images from airborne, marine and ground based platforms, enabling our customers to see first and act first.
About the Role
We are currently seeking a detail oriented and energetic team player to support the growth of our business. You will be responsible for all aspects of revenue recognition reporting and act as a true business partner to the business. This is a diverse position that would be appealing to a self?starter who enjoys a varied workload and the opportunity to apply their knowledge in differing business environments. The position provides accounting functions in support of the preparation of monthly, quarterly and year-end general entries and financial reports. This is an exciting opportunity for someone to take true ownership of this area of expertise for L3Harris WESCAM’s finance team.
Primary Responsibilities
Determine the recognition of revenue under ASC 606 / IFRS 15
Review revenue contracts and complete Contract Review Worksheets (CRWs) to conclude on revenue recognition for each contract, and submit for internal and Corporate Office approval
Compile documentation to support price, quantity and revenue recognition criteria related to revenue recognized in the month
For Point in Time Revenue: Verify that all revenue recognition criteria is satisfied, then gather and analyze the Cost of Sales information and record Revenue and Cost of Sales
For Overtime / Cost to Cost Revenue: Gather the Actual Costs and the estimated Margin and calculate the Revenue to be recognized
Compile monthly Revenue reports
Prepare a monthly report of the Revenue and Cost of Sales to be recorded in the GL. Reconcile the report to the final monthly results in the ERP system
Quarterly variance Analysis of Product vs. Service for Revenue and Cost of Sales
Prepare Balance Sheet Reconciliations for
Unbilled Accounts Receivable
Deferred Revenue
Third Party Commissions
Understand and follow the SOX controls and L3Harris Corporate Policies related to Revenue Recognition
Liaise with internal auditors, external auditors and Corporate Office and provide financial data where necessary
Collaborate with other business departments on business matters relating to Revenue, including Program Managers and the Contracts department
Participate in monthly forecast for Revenue, Cost of Sales and Cash Flow
Research US GAAP in relation to Revenue and recommend conclusions
Complete quarterly Net Realizable Value (NRV) workbook for Corporate Office
Complete “Bill-and-hold” (ie. “Ship-In-Place”) analysis templates, and ensure proper documentation and criteria are achieved prior to submission for internal and Corporate Office approval
Ad hoc tasks and continuous improvement projects
Required Capabilities
Expert in US GAAP (In Particular Revenue Recognition- ASC 606/ IFRS 15)
A focus on continuous improvement
Time management and organizational skills
Experience in a Public company environment or Auditing Public companies
Outstanding analytical and problem solving skills
Ability to develop strong working relationships with related key managers and support staff
Advanced Excel skills
Attention to detail
Excellent written and verbal communication skills
Excellent ERP navigation skills
Knowledge of ERP LN is an asset
Desired Education and Experiences
CPA/CA/CMA/CGA or equivalent, or actively pursuing a CPA designation
Requires strong knowledge of job area typically obtained through advanced education combined with experience.
Typically viewed as having a specialty within discipline.
May have broad knowledge of project management.
Bachelor’s Degree and minimum 6 years of prior relevant experience or Graduate Degree and a minimum of 4 years of prior related experience.
Experience at an Accounting Firm or in an Accounting department at a Public or Private Company
About L3Harris Technologies
In July 2019 – L3 Technologies and Harris Corp merged to become L3Harris Technologies, becoming an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains.
Our customers perform on the world’s most challenging front lines. They trust us to keep them prepared for what’s next. We combine speed, innovation and flawless execution to give people confidence and security in the world ahead.
As we relentlessly pursue new ideas, we know that everything we bring to market must deliver, without fail, every time. The urgency of our quest is matched by our commitment to the people we serve. In a world of ever accelerating change, threat environments move fast. We move forward faster, delivering industry-leading value.
Organized into four segments – Integrated Mission Systems, Communications Systems, Space & Airborne Systems and Aviation Systems – L3Harris Technologies employs over 50,000 people worldwide in over 130 countries with annual revenues approximately $17 billion.
To learn more, visit https://www.l3harris.com/capabilities
Our work environment is both challenging and dynamic – our physical environment is state of the art. Here’s what you can expect by joining L3Harris WESCAM:
Brand new, custom-built 330,000 sq ft Engineering and Production facility atop the Waterdown escarpment in Hamilton
Click HERE for directions to our new facility
Close to hiking paths along the Bruce trail
Every other Friday off (paid – with our rare 9/80 work schedule)
18000 sq ft subsidized Café including 12 mini- Café areas throughout the complex
Free 10,000 sq ft on-site gym
Free wellness programs
Free fruit, bagels and coffee
Remote /hybrid work options, hoteling stations providing flexibility and multiple work options
Wellness rooms – first aid, prayer, mother’s room and quiet zones
Work / Life balance
Real opportunities for growth and development
A diverse and inclusive working culture
Everyone’s role at L3HARRIS WESCAM contributes to protecting people’s lives
Googlemaps that will show you your commute to our new site: https://bit.ly/2W9W06W)
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