L3Harris is dedicated to recruiting and developing diverse, high-performing talent who are passionate about what they do. Our employees are unified in a shared dedication to our customers’ mission and quest for professional growth. L3Harris provides an inclusive, engaging environment designed to empower employees and promote work-life success. Fundamental to our culture is an unwavering focus on values, dedication to our communities, and commitment to excellence in everything we do.

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has approximately $18 billion in annual revenue and 50,000 employees, with customers in more than 100 countries.

Senior Accountant, Revenue Recognition

Ref #: 15803

Location: Waterdown, Ontario

About L3HARRIS WESCAM

As a subsidiary of L3Harris Technologies and within the Integrated Mission Systems Segment, the WESCAM division develops the most advanced optical sensor and targeting systems for global defense and military sectors, National Security, Search & Rescue and Airborne law enforcement agencies. From long-range covert surveillance missions to search and rescue operations, our MX-series systems, and the mission systems solutions they are a part of, produce stabilized high-magnification electro-optical and infrared images from airborne, marine and ground based platforms, enabling our customers to see first and act first.

About the Role

We are currently seeking a detail oriented and energetic team player to support the growth of our business. You will be responsible for all aspects of revenue recognition reporting and act as a true business partner to the business. This is a diverse position that would be appealing to a self‐starter who enjoys a varied workload and the opportunity to apply their knowledge in differing business environments. The position provides accounting functions in support of the preparation of monthly, quarterly and year-end general entries and financial reports. This is an exciting opportunity for someone to take true ownership of this area of expertise for L3Harris WESCAM’s finance team.

Primary Responsibilities 

Determine the recognition of revenue under ASC 606 / IFRS 15Review customer purchase orders to determine Revenue Performance Obligations & Revenue Recognition Criteria for each and:for larger orders, complete Contract Review Worksheets (CRWs) and submit for internal and corporate approvalsfor smaller orders, summarize conclusions on a rolling, high level worksheet for internal approval on an ongoing/regular basisAssist in compiling documentation to support price, quantity and revenue recognition criteria related to revenue recognized in the monthFor Point in Time Revenue: Verify that all revenue recognition criteria is satisfied, then gather and analyze the Cost of Sales information and record Revenue and Cost of SalesFor Overtime / Cost to Cost Revenue: Gather the Actual Costs and the estimated Margin and calculate the Revenue to be recognizedCompile monthly Revenue reportsPrepare a monthly report of the Revenue and Cost of Sales to be recorded in the GL. Reconcile the report to the final monthly results in the ERP systemQuarterly variance Analysis of Product vs. Service for Revenue and Cost of SalesPrepare Balance Sheet Reconciliations forUnbilled Accounts ReceivableDeferred RevenueThird Party CommissionsOthers as neededUnderstand and follow the SOX controls and L3Harris Corporate Policies related to Revenue RecognitionLiaise with internal auditors, external auditors and Corporate Office and provide financial data where necessaryCollaborate with other business departments on business matters relating to Revenue, including Program Managers, Demand group, and Contracts departmentParticipate in monthly forecast for Revenue, Cost of Sales and Cash FlowResearch US GAAP in relation to Revenue and recommend conclusionsComplete quarterly Net Realizable Value (NRV) Contract Asset and Liability workbook for Corporate OfficeAssist to complete “Bill-and-hold” (ie. “Ship-In-Place”) analysis templates, and ensure proper documentation and criteria are achieved prior to submission for internal and Corporate Office approvalAd hoc tasks and continuous improvement projects

Required Capabilities

Determine the recognition of revenue under ASC 606 / IFRS 15Expert in US GAAP (In Particular Revenue Recognition- ASC 606/ IFRS 15)A focus on continuous improvementTime management and organizational skillsExperience in a Public company environment or Auditing Public companiesOutstanding analytical and problem solving skillsAbility to develop strong working relationships with related key managers and support staffAdvanced Excel skillsAttention to detailExcellent written and verbal communication skillsExcellent ERP navigation skillsKnowledge of ERP LN is an asset

Desired Education and Experiences 

CPA/CA/CMA/CGA or equivalent, or actively pursuing a CPA designationRequires strong knowledge of job area typically obtained through advanced education combined with experience. Typically viewed as having a specialty within discipline. May have broad knowledge of project management. Bachelor’s Degree and minimum 6 years of prior relevant experience or Graduate Degree and a minimum of 4 years of prior related experience.Experience at an Accounting Firm or in an Accounting department at a Public or Private Company