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Development Accountant

Santa Monica Corporate
Posted Jun 03, 2019

Position Description:

The Development Accountant completes development projects and fixed asset accounting for a portfolio of properties.  The Accountant is responsible for complete, accurate and timely reporting and recording of development projects and fixed asset activity.

Essential Job Functions: 

• Complete all development projects accounting and reporting including the following:
• Review development budget and cost reports.
• Analyze project costs to ensure proper accounting treatment based on project details (i.e. status, completion date, phased opening) and report on projects.
• Maintain information in the Project Management System for development and non-development projects and constantly improve the expanded reporting capabilities and efficiencies provided by the Project Management System.
• Calculate and record capitalized interest and allocation of indirect costs
• Place substantially complete projects into service.
• Record all miscellaneous (non-accounts payable) transactions for development projects.
• Calculate and account for all development fees per agreements.
• Complete all fixed asset accounting and reporting including the following:
• Implement the fixed asset module in fixed asset sub ledger as well as other functionalities of module such as inventory control, maintenance scheduling, and other property data.
• Monitor all data in fixed asset sub ledger and maintain architecture/setup of fixed asset module.
• Maintain land cost analysis.
• Review import of all fixed assets, tenant improvements, and leasing commissions into fixed asset sub ledger from accounts payable and development modules as applicable and populate individual fixed asset information.
• Review depreciation and amortization expense in general ledger.
• Coordinate and review all disposals and sales of fixed assets.
• Reconcile all development and fixed asset sub ledgers to appropriate general ledger accounts such as construction in progress, fixed assets, accumulated depreciation, and gain/loss.
• Prepare loan draws for partners and lenders.
• Provide information for all personal property tax returns.  Implement automatic personal property tax return reporting from fixed asset module in conjunction with asset management.
• Perform sales and use tax review.
• Assist with capital projects and depreciation portion of budgets and reforecasts.
• Act as liaison for development managers by meeting special reporting requests, assisting with development budgets, responding to all inquiries, and serving as an analyst for development projects.
• Assist Property Accountants, Recoveries Accountants, and Tax Accountants with all development and fixed asset/depreciation related questions and issues.
• Provide information to Asset Management and Finance as needed.
• Input, review and update budget and projection for existing and future project CIP in Company forecast module.
• Perform prequalification financial analysis on proposed vendors
• All other duties as assigned

Requirements and Qualifications:

• Bachelor’s degree in accounting.
• Development and fixed asset accounting experience preferred but not required.
• Basic understanding of accounting principles and accrual accounting.
•All applicants must be able to perform the essential functions of the position, including corresponding core job requirements, with or without a reasonable accommodation. Reasonable accommodations may be made to enable individuals with disabilities (and others in accordance with applicable law) to perform the essential functions of the job, consistent with applicable laws and Company policy.