Accounting Manager

Vaco by Highspring; Toronto; On-site; CAD 110,000 - 130,000; Full time

Job summary

Vaco by Highspring is seeking a Manager of Accounting (Land Development) to oversee accounting and financial operations for a portfolio of land development projects in the Greater Toronto Area. You will manage journal entries, reconciliations, job costing, budgeting, variance analysis, and financial reporting.

Responsibilities include cash flow management, funding draws, distributions, loans and equity reconciliations, along with reviewing invoices and change orders.

Qualifications

• Professional Accounting Designation is required (CA, CGA, CMA, CPA).
• Bachelor’s degree in business or accounting.
• 5–7+ years of experience in full-cycle accounting in development accounting and/or property accounting.
• Understanding of various joint business arrangements (JV, partnerships, etc.).
• Understanding of concepts and underlying details, ability to identify errors, and foresight to strategize and make decisions with consideration to both operational and financial implications.
• Experience with cash flow analysis and budgeting.

Responsibilities

• Oversee the accounting and financial operations cycle for assigned Land Development Companies, including high-risk transactions and journal entries.
• Prepare monthly, quarterly, and annual reporting on project budgets and status, including variance analysis.
• Prepare year-end financial statement packages for external accountants.
• Prepare and maintain project budgets with detailed analysis of construction costs and fee proposals.
• Monitor and manage cash flow on development projects and cash flow forecasts.
• Review invoices, change orders, and related coding; manage loans and interest calculations.
• Supervise land development department and maintain supporting documentation.
• Assist in HST audits or reviews and provide ad hoc analysis as needed.

Skills

Financial analysis

Budgeting

Cash flow analysis

Full-cycle accounting

Development accounting

Education

CPA designation

Bachelor's degree in business or accounting

Job description

Our client is a leader in Canadian real estate, having several divisions and associations. They are looking for a Manager of Accounting (Land Development) who will be responsible for overseeing accounting and financial operations for assigned land development projects, including journal entries, reconciliations, job costing, budgeting, variance analysis, and financial reporting. Manage project cash flow, funding draws, cash calls, distributions, loans, and equity reconciliations while reviewing invoices and change orders. Prepare year-end financial statement packages, support HST audits, maintain accurate financial documentation, supervise the land development department, and provide financial analysis and ad hoc support to management.

Why Work Here

• Opportunity to join a growing organization with room for development.
• Organization has real estate projects all over the GTA, with a constant pipeline of new and exciting projects.
• Get exposure to all real estate streams

About the Opportunity

• Oversee the accounting and financial operations cycle for assigned portfolio of Land Development Companies, including high-risk transactions and journal entries (e.g. land purchase, land sales, cost recoveries, etc.), trial balance review, account reconciliations, job costing, and allocation reasonability.
• Accurate and timely monthly, quarterly, and annual reporting on project budgets and status, including project variance, cost analysis, and benchmarking to Project Managers and Senior Management.
• Preparation of year-end financial statement packages for the Company's financial reporting team and external accountants in accordance with generally accepted accounting principles.
• Preparation and maintenance of project budgets based on reviews with Project Managers and Finance Team for assigned portfolio, including detailed analysis on construction hard and soft costs as well as fee proposal analysis against budgeted amounts.
• Monitor and manage cash flow on development projects, including preparation of cash flow forecasts, cash progress funding draws, and analysis of loan and letter of credit utilization.
• Preparation of cash calls, distributions, and equity reconciliations for assigned portfolio of Land Development Companies and Holding Companies.
• Review of invoices and invoice coding, change order processing.
• Preparation, review, and reconciliation of internal and external loans and related interest calculations.
• Oversight and supervision of land development department.
• Document and maintain complete and accurate supporting information for all financial transactions.
• Assist in HST audits or reviews.
• Ad hoc projects and analysis as assigned to support the goals and objectives of the Company.

About You

• Professional Accounting Designation is required (CA, CGA, CMA, CPA).
• Bachelor’s degree in business or accounting.
• 5–7+ years of experience in full-cycle accounting in development accounting and/or property accounting.
• Understanding of various joint business arrangements (JV, partnerships, etc.).
• Understanding of concepts and underlying details, ability to identify errors, and foresight to strategize and make decisions with consideration to both operational and financial implications.
• Experience with cash flow analysis and budgeting.

Salary Range

$110,000 - $130,000/year

You must currently reside within the Greater Toronto Area and be permitted to work in Canada to be considered for this opportunity.