As a Revenue Accountant, you will be a key part of our client's global Revenue Accounting team located in Budapest. This role primarily will be responsible for all revenue accounting activities to ensure revenue is recognized in the appropriate periods.
Oversee the royalty and distributor agreements end to end process with third parties, assess the appropriate accounting and ensure payments are made timely for all agreements.
You will be expected to have in-depth knowledge of the royalty and distributor agreements to perform accounting review and preparing adjustments, as well as correspond with business partners and vendors. Additional revenue related tasks may be assigned under this role as required such as perform accounting adjustments for cash considerations, billbacks, etc.
Month-end, quarter-end and year-end accounting close activities including preparation of journal entries, GL reconciliations, flux analysis, quarterly schedules, internal reporting, etc.
- Review Royalty and Distributor contracts and translate translate key financial legal terms into best practices. Prepare expense/revenue calculations payment calculations and monthly accruals entriestimely, in line with corporate and contract guidelines. Follow-up of all related Royalty payments in collaboration with business partners and third party vendors.
- Prepare sales cut-off and other revenue related entries as required in accordance with US GAAP 606 revenue recognition guidelines.
- Participate in Contract Review and document Revenue Recognition performance obligations to be in compliance with US GAAP guidelines for ASC 606 Revenue Recognition , licenses, principal vs agent, etc.
- Support Revenue Supervisor/Manager with all corporate, internal and external audit requests.
- Prepare distributor commission expense/revenue calculations, review/comprehend key terms of associated contracts, prepare monthly accruals, follow-up of all associated commission payments and provide associated reporting to business partners.
- Prepare Revenue and Royalties analytics as requested.
- Support Revenue Manager in driving consistent best in class systems and processes. Identify opportunities for streamlining /driving improvements of current processes, as well as documenting current processes.
- Drive and/or participate in new or existing project improvements. Work collaboratively with extended team and other functional groups to drive improvement initiatives and implement changes.
- Participate in Contract Review and identify Revenue Recognition performance obligations to be in compliance with new US GAAP guidelines for ASC 606 Revenue Recognition and ASC 842 Lease accounting. Qualifications: Bachelor’s Degree in Accounting or Finance required. CPA preferred but not required.
- At least 3 years of general accounting experience. Understanding of accounting for Revenue Recognition concepts(ASC 605/606), Principal vs Agent and Lease Accounting (ASC840/ASC842) a Plus.Contract review and royalty accounting experience preferred.
- Strong Excel skills required must have.
- Strong interpersonal, communication skills for interacting with other individual team contributors, business partners, and management.
- Strong knowledge of US GAAP accounting guidance and internal controls required. • Ability to multi-task in fast paced work environment.
- Strong analytical and problem solving background.
- Professional proficiency in English
Our partner is looking for experienced Revenue Accountants for its growing global accounting team in Budapest. This position offers the following:
- Multinational setting with an end-to-end, non-SSC role with plenty of task complexity, variety, and opportunities for skill improvement
- A dynamic, growing organization in a growth-sector, offering stability and perspective for future career development
- Competitive salary and benefits