Lease Accounting Specialist
Lexmark
Cebu City, Philippines
5d ago

Job Summary :

Lexmark has entered into several agreements with vendors and customers that include lease elements. From an accounting perspective these agreements are subject to the requirements included in the lease guidance.

New accounting standards have been published both under US GAAP and IFRS that significantly changed the accounting requirements for the leases.

We are looking for a lease accounting specialist to help address the challenges set by the requirements of the new lease guidance, assist in the worldwide project to set up and perform new processes following the implementation, to identify contracts subject to the new lease guidance, maintain records of the leases and determine the accounting treatment by working together with the Lease Accounting expert as well as help with the roll-out of a new system for that purpose.

Roles, Responsibilities and Authority :

  • Assist the worldwide project team to set up new processes required by the new lease guidance) and implement the new system designed for maintaining and accounting for lease contracts (lessee side).
  • Following the completion of the Lease project, perform business as usual activities mainly from the point of the lessee as follows : Monitor and review contracts containing input data to the new lease tool Input data in the lease software Maintain, update system data relating to new, existing and amended lease contracts Get the monthly output from the lease software & upload the corresponding journal entries into SAP following the review by the Lease Accounting Expert Perform account reconciliations for leases Execute controls over lease accounting procedures Support internal and external audits
  • The scope of the above roles and responsibilities will cover all Lexmark entities worldwide.
  • Competencies, Skills, Knowledge and Abilities :

  • Skills : Advanced knowledge in MS Excel SAP experience is an advantage Good analytical skills Flexibility and ability to work on tight deadlines Effective English communication skills is preferred Attention to details is a must
  • Education and Experience : Degree in Economics / Accounting / Finance 2-3 years of accounting experience Experience in IFRS and / or US-GAAP is preferred Experience in lease accounting is preferred Working experience in a multi-national company is preferred
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