Accountant - Lease

Michaels Stores; Irving (TX); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

401(k) with employer match

Employee Assistance Program

Medical coverage

Dental coverage

Vision coverage

Telemedicine services

Tuition assistance

Employee discounts

Job summary

The Michaels Companies, Inc. is seeking a Lease Accountant to support the Senior Accountant – Lease Supervisor. This role ensures ASC 842 lease accounting accuracy, prepares work papers, and upholds Sarbanes-Oxley controls for the financial statements.

Responsibilities include journal entries, variance reports, and collaboration with Real Estate and Legal teams to address lease changes and related expenses.

Qualifications

• Bachelor's or Master's Degree in Accounting.
• 0–2 years of accounting experience.
• Exposure to U.S. GAAP and SOX.

Responsibilities

• Account for lease agreements in line with ASC 842.
• Track and accrue triple-net expenses for US and Canada stores.
• Reconcile GL balances and advise on corrective actions.
• Assist in annual review of Non-Real Estate Contracts with vendor testing.
• Support internal and external audits with requested documentation.
• Record month-end journal entries and prepare variance reports.

Skills

Excel

Education

Bachelor's or Master's Degree in Accounting

Tools

Oracle Financials

Job description

The Lease Accountant supports the Senior Accountant – Lease Supervisor, ensuring the integrity and accuracy of all the accounting related to lease agreements. The Lease Accountant also prepares statistical and analytical work papers for internal and external parties. This position ensures the maintenance of, and adherence to, existing controls, policies, and procedures for accurate and complete financial statements and the sustainment of our Sarbanes-Oxley compliance.

Major Activities

• Account for lease agreements, ensuring compliance with ASC 842. This includes recording new leases and handling lease modifications or renewals.
• Track, compile, and accrue triple-net expenses for all US and Canada stores.
• Reconcile and analyze various general ledger account balances and recommend to management appropriate actions to be taken, if necessary.
• Assist in the annual evaluation of Non-Real Estate Contracts by creating work papers and testing vendor agreements that may help identify embedded leases.
• Support internal and external audits during quarterly and annual reviews by providing requested documentation and analysis.
• Communicate with the Real Estate and Legal departments to understand changes to lease contracts, rent payments and associated facility expenses.
• Assist with the company’s month-end closing process by booking journal entries and creating variance reports within a strict deadline
• Other duties as assigned
• Bachelors or Master's Degree in Accounting

Minimum Special Certifications or technical skills

• Proficient in Excel

Minimum Type of experience the job requires

• 0 to 2 years of accounting experience
• Exposure to U.S. GAAP and SOX

Preferred Special Certifications or technical skills

• CPA or CMA preferred
• Prior lease accounting experience

Preferred Type of experience the job requires

• Experience with Oracle Financials or other large ERP desired

Applicants in the U.S. must satisfy federal, state, and local legal requirements of the job.

At The Michaels Companies Inc., our purpose is to fuel the joy of creativity and celebration. As the leading destination for creating and celebrating in North America, we operate over 1,300 stores in 49 states and Canada and online at Michaels.com and Michaels.ca. The Michaels Companies, Inc. also owns Artistree, a manufacturer of custom and specialty framing merchandise. Founded in 1973 and headquartered in Irving, Texas, Michaels is the best place for all things creative. For more information, please visit www.michaels.com.

Michaels offers a range of benefits to support team members and their families.

Depending on position and eligibility, team members may have access to a 401(k) with employer match, an Employee Assistance Program, medical coverage, dental coverage, vision coverage, telemedicine services, flexible spending accounts, commuter benefits, tuition assistance, adoption assistance, and various voluntary insurance options.

• 401(k) with employer match
• Employee Assistance Program
• medical coverage
• dental coverage
• vision coverage
• telemedicine services
• flexible spending accounts
• commuter benefits
• tuition assistance
• adoption assistance
• various voluntary insurance options

All team members enjoy everyday perks such as employee discounts and access to partner discount programs.

For a summary of benefits, visit the Michaels Benefits at a Glance page. For additional information regarding benefits, visit MIKBenefits.com

Michaels is an Equal Opportunity Employer. We are here for all Team Members and all customers to create, innovate and be better together.

Michaels is committed to the full inclusion of all qualified individuals. In keeping with this commitment, Michaels will assure that people with disabilities are provided reasonable accommodations. Accordingly, if a reasonable accommodation is required to fully participate in the job application or interview process, to perform the essential functions of the job, and/or to receive all other benefits and privileges of employment, please contact Customer Care at 1-800-642-4235 (1800-MICHAEL).

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