Corporate Accountant - Real Estate - Remote

Job Description

Based remotely from the USA, our client is looking for an experienced accountant to join their team as Corporate Accountant Real Estate on a permanent basis. Quarterly travel to their office in Miami, USA would be required.

This position would suit an experienced corporate accountant with strong US GAAP experience and knowledge, within a real estate environment.

This company are a leading lifestyle hotel group offering a dynamic collection of boutique hotels with modern amenities, they are embarking on a growth journey which will see them increase their portfolio across the world.

The successful individual will have experience with technical accounting research (e.g., purchase price accounting, lease accounting, revenue recognition) and strong analytical skills to evaluate depreciation, interest expense, and asset classifications. This candidate must have strong Excel skills for financial modelling, analysis, and roll forwards. Excellent organisational and documentation skills are essential, to handle technical accounting memos, audit schedules, and lender deliverables. They must have strong written and verbal communication skills to interact with lenders, auditors, and tax professionals. Real estate experience is a must.

Duties include:

• Provide monthly deliverables and covenant calculations
• Accounting for modifications to debt agreements
• Prepare loan costs amortization schedules to ensure monthly recording of amortization expense
• Analytically test the monthly interest expense and deferred interest to ensure compliance with the agreement by utilizing the market SOFR rates.
• Account for the interest rate cap agreement and resulting true ups
• Manage waterfall/cash flow with lender as required
• Monitor monthly reserve account activity and ensure the balances are appropriately reflected in the financial statements
• Provide timely submission of construction draws and support for any inquiries received as part of approval
• Preparation of monthly rollforwards of fixed asset and intangible accounts
• Place assets into service after completion
• Analytically test the depreciation and amortization amounts recorded in the monthly financial statements
• Evaluate the appropriateness of the remaining useful lives
• Evaluate the appropriateness of items classified as fixed assets to ensure they meet the Company's SOP
• Perform annual assessment of impairment of real estate assets
• Lead the adoption and implementation of new accounting standards
• Performing technical accounting research to determine key accounting conclusions (i.e. purchase price accounting, lease accounting, revenue recognition, etc)
• Monitor the monthly cash flow forecasting process to assess the cash needs of the Partnership
• Prepare consolidating financial statements in accordance with US GAAP for the Partnership structure
• Pay partnership/ownership expenses
• Capital call monitoring and requests as needed
• Negotiate audit fees/services for owner as required
• Process and post journal entries related to ownership books
• Assist with tax matters and preparation of tax returns by outside accountants
• Monitor the equity accounts of the Partnership
• Assist with ad-hoc ownership requirements.
• External Audit support for the completion of the year end US GAAP audit requirement
• Preparation and review of financial statements and footnotes in accordance with GAAP and ensuring appropriate disclosures to ensure successful audit
• Document technical accounting considerations in memos for the audit
• Evaluation of the Partnership's ability to continue as a going concern
• Preparing monthly cash flow statement in accordance with GAAP
• Prepare monthly roll-forwards and supporting schedules of equity, debt, fixed assets, interest, deferred financing costs and other non-operational items to ensure items are appropriately recorded in the monthly financials and the support is ready for the auditors
• Work with the auditors on understanding operations and respond to inquiries about supporting documentation
• Providing internal control documentation to the audit team
• Completing disclosure checklists and other checklists as required by the auditors
• Coordinating and assisting in preparing schedules requested by the auditors for purposes of the audit

For more information about this role or any other remote Corporate Accountant jobs in the U.S.A, please contact us in confidence or visit our website www.mrkassociates.co.uk

Every application will receive a response as this is the recognised working practice at MRK Associates.

MRK Associates - AGY.

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