Sr. Lease Accountant

Michaels Stores; Irving (TX); On-site; USD 90,000 - 120,000; Full time

Benefits offered by this job

401(k) with employer match

Medical, dental, vision coverage

Employee discounts

Job summary

The Michaels Companies Inc. seeks a Senior Accountant - Lease Accounting to manage accounting, reconciliation, and reporting for leased real estate.

You will support financial close, audits, and regulatory filings while collaborating with HR, Finance, and Internal Audit to ensure accuracy and compliance within a high-performance accounting function. Key responsibilities include journal entries, lease reconciliations, and analysis of lease agreements, with a focus on US GAAP and internal

Qualifications

• Bachelor's degree in Accounting is required.
• 5+ years of general accounting experience.
• Experience with lease accounting and US GAAP.
• CPA/CMA/MBA preferred.

Responsibilities

• Prepare and record journal entries related to leases.
• Reconcile lease accounts, accruals, and clearing accounts monthly.
• Ensure GAAP-compliant accounting of leases.
• Analyze new and amended lease agreements for proper accounting.
• Prepare monthly financial schedules for partner reviews.
• Support quarterly and annual audit schedules with external auditors.

Skills

MS Excel

GAAP knowledge

SOX/SEC awareness

Education

Bachelor's Degree in Accounting

MBA and/or CPA, CMA (preferred)

Tools

Oracle ERP

CoStar lease accounting system

Job description

The Sr Accountant - Lease Accounting is responsible for the accounting, reconciliation, and reporting processes for the company's leased real estate. This role plays a pivotal part in financial close cycles, audit readiness, and regulatory filings. This role requires collaboration across HR, Finance, and Internal Audit to ensure completeness, accuracy, and compliance within a high-performance accounting function.

Major Activities

• Prepare and record journal entries related to leases.
• Reconcile lease accounts, accruals, and clearing accounts monthly.
• Ensure GAAP-compliant accounting of leases.
• Analyze new and amended lease agreements for appropriate accounting treatment.
• Prepare and analyze monthly financial schedules for presentation at monthly business partner reviews.
• Prepare quarterly and annual audit schedules in support of public disclosures. Work with external auditors to ensure successful audits.
• Partner with the Financial Reporting Team to research and recommend changes in accounting for new literature related to US GAAP, SOX, or SEC compliance.
• Monitor and evaluate internal controls.
• Evaluate and enhance accounting processes for efficiency and compliance.
• Coaches staff, evaluates staff performance and effectively recommends other personnel decisions.
• Trains and develops staff to be best-in-class high performers,
• Other duties as assigned
• Bachelor's Degree in Accounting

Minimum Special Certifications or technical skills

• Proficiency in MS Excel
• Minimum Type of experience the job requires
• 5+ years of general accounting experience,
• Preferred Education
• MBA and/or CPA, CMA
• Preferred Special Certifications or technical skills
• Proficiency in Oracle ERP and CoStar or other lease accounting system.
• Preferred Type of experience the job requires
• 3+ years of general accounting experience in retail including specific exposure to lease accounting.
• 2+ years of Supervisory experience
• Experience with SEC reporting requirements

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, dental, and vision coverage, telemedicine services, flexible spending accounts, commuter benefits, tuition assistance, adoption assistance, and 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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