Date Posted: 04/27/2022
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Description:
PROJECT ACCOUNTANT APRIL 2022ABOUT AKRIDGEAkridge is a comprehensive real estate services group that provides acquisition, development, asset management, property management, leasing and consulting services for third party, private, international and domestic clients. For more information please visit www.akridge.com.The Akridge mission is threefold: to provide the highest quality real estate services in the metropolitan area; to attract and retain the best employees in the industry; and to make a positive impact on our community through corporate and individual efforts. Our success is demonstrated in a multitude of awards, including the ten time national winner for CEL’s Best in Industry award for customer service excellence and being named one of the Washington, DC metropolitan area’s best places to work.
GENERAL RESPONSIBILITIESThe Project Accountant is responsible for all accounting aspects of a select number of operating and/or development real estate projects including financial statement preparation; investor, owner and lender reporting; variance analysis; budgeting; forecasting; lease administration; management of audits and tax return preparation; oversight of bill payment and rent collection; and various ledger analysis and reconciliations. The Project Accountant works as part of a team that also includes members of the property management, asset management, construction/development, and leasing divisions. A Project Accountant must possess strong communication skills to deal directly with third parties involved with his or her projects inclusive of tenants, equity and debt investors, accounting firms and lawyers.The Project Accountant supports, reports to and is evaluated by the Portfolio Controllers. Overall quality control, productivity and workflow will be coordinated by the Portfolio Controllers.
GENERAL QUALIFICATIONSThe Project Accountant must have a college degree with an emphasis in accounting. Ideal candidates will have a CPA designation with audit experience in a public accounting firm along with two to five years of experience in the commercial real estate industry; prior Yardi experience is a plus. A Project Accountant must possess strong organizational and communication skills and be fully competent in Excel, as well as have the ability to produce under pressure with a strong sense of detail, accuracy and cooperation. A successful Project Accountant must have the capability to work and problem-solve independently, as well as adapt to changing priorities and responsibilities.
SPECIFIC RESPONSIBILITIES
- The Project accountant is responsible for his or her projects on a comprehensive basis –understanding and adhering to operating agreements, including all reporting responsibilities, as well as loans, equity structures (including capital accounts and distribution waterfalls) and any other agreements in place.
- The Project Accountant is responsible for all aspects of the accounting for assigned projects. He or she will manage the general ledger and prepare journal entries, bank reconciliations and subsidiary schedules as support of the financial records.
- The Project Accountant is responsible for a multitude of aspects of periodic (typically monthly)investor reports, including preparation of the financial statements, variance analysis and communicating with investors (through meetings or direct contact) with answers and follow up to questions and other enquiries.
- The Project Accountant is responsible for ensuring sufficient cash flow to fund the operations of the property and meet all debt and other obligations in a timely manner. The Project Accountant is required to prepare and submit to owners and/or lenders funding requests or capital calls, if necessary.
- With assistance from the Operations Support Accountant group, the Project Accountant will be responsible for administering the leases of his or her projects, ensuring proper accounting according to the terms of the leases, preparation of rent projections and reconciliations, preparation of rent rolls and stacking plans, and tracking of tenant improvement allowances, lease commissions and any other tenant leasing costs.
- In conjunction with the property management team members, the Project Accountant is responsible for the preparation of project annual operating plans.
- The Project Accountant is responsible for preparing financial forecasts of project activity at various times throughout the year.
- The Project Accountant will work closely with the property management, asset management, construction/development, and leasing groups on all aspects of his or her projects and will meet with outside parties, such as investors, owners and lenders, as an expert on all the financial aspects of the projects.
- The Project Accountant will work closely as the main point of contact with outside public accounting firms in preparation of audited financial statements and tax returns for his or her projects. He or she is responsible for review and accuracy of financial statements and tax returns.
- The Project Accountant will prepare all required governmental reports, such as income and expense reports, personal property tax returns, and DC arena returns.
- The Project Accountant will provide financial support for refinancings, sales or acquisitions of assigned projects. Additionally, he or she will manage the setup and transition of acquired projects into all aspects of our accounting systems.
- The Project Accountant will complete special projects as assigned by the Portfolio Controllers or other management members of the company.