Sr. Manager, Revenue and Inventory Accounting

WORLDPAC; Oak Brook (IL); On-site; USD 160,000 - 190,000; Full time

Job summary

WORLDPAC seeks a Sr. Manager for Revenue and Inventory Accounting responsible for overseeing compliance with ASC 606 revenue standards and inventory valuation. This role involves managing a team to ensure integrity in financial reporting, collaborating with various departments, and driving continuous improvement in accounting processes. Candidates should have extensive experience with revenue recognition and proven leadership skills.

Qualifications

• 10+ years of accounting experience focused on revenue and inventory management.
• Expertise in ASC 606 and GAAP compliance.
• Proven leadership skills managing teams successfully.

Responsibilities

• Oversee compliance with revenue recognition standards and inventory accounting.
• Manage monthly close processes and ensure accurate transaction records.
• Lead and mentor the accounting team for best practices in revenue management.

Skills

Revenue Recognition

Inventory Management

Cost Accounting

Leadership

Communication

Education

Bachelor’s degree in accounting, Finance, or a related field

Preferred CPA or equivalent certification

Tools

Oracle GL

AS400

Job description

Sr. Manager, Revenue and Inventory Accounting

Join to apply for the Sr. Manager, Revenue and Inventory Accounting role at WORLDPAC

Sr. Manager, Revenue and Inventory Accounting

1 week ago Be among the first 25 applicants

Join to apply for the Sr. Manager, Revenue and Inventory Accounting role at WORLDPAC

Get AI-powered advice on this job and more exclusive features.

Overview

WORLDPAC’s well respected, industry leading business model, with a robust technology platform and comprehensive product assortment, is what differentiates us from our competitors. Our Team Members are the reason WORLDPAC has with an unwavering commitment to our customers and suppliers. WORLDPAC fosters a sense of community, connection, and inclusion.

Overview

WORLDPAC’s well respected, industry leading business model, with a robust technology platform and comprehensive product assortment, is what differentiates us from our competitors. Our Team Members are the reason WORLDPAC has with an unwavering commitment to our customers and suppliers. WORLDPAC fosters a sense of community, connection, and inclusion.

Our team member’s value proposition includes competitive compensation and benefits, career path development and a supportive work environment that encourages innovation, creativity, and personal growth. WORLDPAC is proud to offer all our team members a workplace that is both challenging and rewarding, with a commitment to enable each of them to achieve their full potential.

Responsibilities

The Sr. Manager of Revenue and Inventory is responsible for overseeing the implementation and ongoing compliance of revenue recognition and the accurate accounting of inventory. The role focuses on ensuring that revenue and inventory transactions are properly recorded and reconciled between the IBS (AS400) Subledger and Oracle GL system, especially when discrepancies or cut-off issues arise. The Sr. Manager will lead a team to manage revenue recognition and inventory valuation while ensuring alignment between financial systems and compliance with accounting standards. Additionally, this role will collaborate closely with the Credit and Collection team to maintain and ensure proper compliance with the Current Expected Credit Loss (CECL) standard and manage the allowance for bad debt.

Key Responsibilities

• Revenue Accounting and Compliance:
• Lead the implementation and ongoing compliance with ASC 606 revenue recognition standards across Worldpac, ensuring all revenue transactions are properly recognized and classified according to the standard.
• Work with Director of Accounting to develop, Implement, and maintain policies and procedures for revenue recognition in compliance with ASC 606, ensuring accurate review and interpretation of contracts.
• Ensure proper classification of revenue streams, especially for complex arrangements involving product sales, services, and subscription-based revenue.
• Oversee the preparation of journal entries related to revenue recognition, ensuring proper accounting for deferred revenue, accrued revenue, and revenue adjustments using Oracle and IBS (AS400) systems.
• Ensure that revenue entries are processed accurately during the month-end close, reviewing and reconciling accounts to ensure completeness and accuracy.
• Inventory Accounting:
• Oversee the inventory accounting process for Worldpac, ensuring the accurate valuation of inventory and the management of costing methodologies (e.g., FIFO, LIFO, or weighted average) in alignment with GAAP and company policy.
• Ensure that inventory transactions (e.g., goods receipts, transfers, and adjustments) are properly recorded in both Oracle and IBS (AS400) systems, and reconcile inventory accounts during month-end close.
• Work closely with supply chain and operations teams to ensure accurate inventory data tracking and reporting, including provisions for excess, obsolescence and shrinkage.
• Reconciliation and Cut-Off Processes Between IBS and Oracle:
• Manage the reconciliation process between IBS (AS400) and Oracle GL, ensuring that revenue and inventory data are accurately transferred between the systems, especially during month-end close.
• Ensure proper cut-off procedures are followed to ensure transactions are recorded in the correct accounting period in both systems.
• Collaborate with IT and operations teams to troubleshoot and resolve discrepancies between IBS and Oracle, ensuring accurate financial reporting.
• Continuously assess and improve revenue recognition and inventory accounting processes, identifying opportunities for greater efficiency, accuracy, and alignment between IBS (AS400) and Oracle systems.
• Define and implement key controls between the two systems to ensure smooth data flow, accurate reporting, and regulatory compliance.
• Drive automation initiatives for revenue and inventory accounting in both IBS (AS400) and Oracle, reducing manual effort, enhancing accuracy, and streamlining reporting across financial systems.
• Audit Coordination and Compliance:
• Manage both internal and external audit requests related to revenue and inventory accounting, ensuring that all supporting documentation is complete, accurate, and compliant with auditing standards.
• Lead the documentation and preparation of audit schedules for revenue and inventory transactions and ensure all necessary information is readily available for auditors.
• Lead internal control audits, ensuring compliance with Sarbanes-Oxley (SOX) regulations and identifying areas for improvement in revenue and inventory controls.
• Revenue-Related Financial Statement Disclosures:
• Oversee the preparation and review of financial statements, ensuring all revenue and inventory disclosures are accurate and comply with ASC 606 and GAAP.
• Ensure appropriate presentation of deferred revenue, contract liabilities, and inventory-related balances on the balance sheet and proper revenue recognition in the P&L.
• Ensure that all required ASC 606 footnote disclosures related to revenue and inventory are accurately prepared.
• Cross-functional Collaboration and Process Improvements:
• Assist with the preparation of revenue and Cogs forecasts and collaborate with FP&A to improve month-end close processes.
• Collaborate with FP&A and as needed with sales and operations teams to align business strategy with accounting policies for revenue and inventory.
• Provide ongoing support for business unit leaders, advising on revenue recognition and inventory accounting matters related to new projects, contracts, or product lines.
• Collaborate with the Credit and Collection team to ensure compliance with CECL standards and the proper maintenance of the allowance for bad debt.
• Regularly assess and review credit risk, collaborating with the Credit and Collection team to ensure bad debt reserves are accurate and reflective of current economic conditions.
• Leadership and Staff Development:
• Lead and mentor the revenue and inventory accounting team, ensuring they have the knowledge and tools to effectively manage revenue recognition and inventory accounting processes.
• Provide guidance and training to staff on complex revenue recognition and inventory accounting issues, ensuring the team remains up-to-date on accounting standards and best practices.
  

Qualifications

• Bachelor’s degree in accounting, Finance, or a related field. Preferred CPA or equivalent certification.
• 10+ years of accounting experience with a focus on revenue recognition, inventory management, and cost accounting.
• Expertise in ASC 606 and revenue recognition standards, with a deep understanding of inventory accounting and costing methods (e.g. FIFO, LIFO, weighted average).
• Experience working with financial systems, particularly Oracle GL and IBS (AS400) subledger systems.
• Strong ability to resolve system discrepancies and manage complex reconciliations, especially cut-off issues.
• Proven leadership skills with experience managing teams and driving process improvements.
• Excellent communication and collaboration skills, with the ability to work cross-functionally across departments.
  
  

Posted Salary Range

USD $160,000.00 - USD $190,000.00 /Yr.

Reasonable Accommodation Notice

• Full-time position based at Worldpac’s corporate headquarters.
• Occasional travel may be required for site visits, cross-functional meetings, or audit coordination.
• Certificates, Licenses CALIFORNIA PRIVACY STATEMENT advance_auto_parts_--_california_candidate_privacy_notice.pdf (worldpaccareers.com)
  
  

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age national origin, religion, sexual orientation, gender identity, status as a veteran and basis of disability or any other federal, state or local protected class

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance

• Industries

  Motor Vehicle Manufacturing

Referrals increase your chances of interviewing at WORLDPAC by 2x

Sign in to set job alerts for “Senior Revenue Manager” roles.

Chicago, IL $155,400.00-$213,800.00 1 week ago

Revenue Recognition Director, North America

Itasca, IL $140,000.00-$160,000.00 4 days ago

Chicago, IL $95,000.00-$125,000.00 1 month ago

Senior Finance Manager - Commercial FP&A

Northfield, IL $132,600.00-$199,160.00 1 week ago

Greater Chicago Area $110,000.00-$125,000.00 6 days ago

Chicago, IL $120,000.00-$150,000.00 1 day ago

Northbrook, IL $126,000.00-$160,000.00 23 hours ago

Oswego, IL $140,000.00-$160,000.00 2 weeks ago

Senior Planning Manager, Revenue Management & Planning

Chicago, IL $140,000.00-$160,000.00 1 day ago

Senior Accounting and Finance Manager [Half Time]

FP&A Manager up to $170K (Hybrid/Aurora, IL)

Aurora, IL $130,000.00-$170,000.00 1 week ago

IT Director, Sales & Revenue Technology Solutions (Salesforce)

Chicago, IL $94,000.00-$156,200.00 2 weeks ago

Chicago, IL $130,000.00-$150,000.00 1 week ago

Senior Manager, Finance & Strategy - Deal Desk

Chicago, IL $116,000.00-$216,000.00 1 week ago

Chicago, IL $140,000.00-$155,000.00 1 week ago

Chicago, IL $140,000.00-$155,000.00 1 week ago

Senior Manager & People Lead - Global Finance

Chicago, IL $137,300.00-$188,825.00 6 days ago

Financial Planning & Analysis (FP&A) Manager

Chicago, IL $115,000.00-$135,000.00 1 week ago

Chicago, IL $125,000.00-$165,000.00 2 weeks ago

Senior Manager of Finance Governance & Controls

Chicago, IL $130,000.00-$150,000.00 3 days ago

Chicago, IL $130,000.00-$222,000.00 3 days ago

Chicago, IL $110,000.00-$145,000.00 1 hour ago

Chicago, IL $130,000.00-$160,000.00 6 days ago

Oak Brook, IL $90,000.00-$120,000.00 2 weeks ago

Manager, Financial Planning and Analysis, Card Partnerships

We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.