Commercial Property Accountant

17 hours ago

Kolkata, West Bengal, India beBeeAccounting Full time ₹ 75,00,000 - ₹ 1,50,00,000
Job Description\

The Accounting Manager is responsible for overseeing a portfolio of commercial properties owned by various funds and joint ventures. They ensure that all accounting operations are carried out in accordance with lender, tax, and investor requirements.

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  • \
  • Responsible for overall property-level accounting including rent rolls and lease maintenance, cash management, financial reports, annual budgets, quarterly budget re-projections, tax basis amortization and depreciation calculations, and provision of support to third-party MRI users.\
  • Review and approval of operating and tax escalations, annual estimates, quarterly and annual reconciliations, cost pools, expense caps, exclusions, gross ups, and base year calculations.\
  • Manage loan compliance, mortgage payments, lender reporting, including debt service coverage ratio calculations, loan and escrow draw, preparation of unaudited financial reports, comprehensive audit support, and preparation of audited financial statements with footnotes.\
  • Work with Beacon construction professionals to provide accounting for development projects and prepare ad-hoc financial analysis and reporting as needed.\
  • Joint Venture Accounting: Review and comply with operating agreements, prepare financial reporting on a consolidation or combined level, including audited financial statements with footnotes, cash management, capital calls, distributions, calculation and processing of management fees, and income allocations.\
  • Acquisitions: Work with the acquisitions team to review diligence materials, review settlement statements, record opening entries, monitor post-closing activity for true-up with sellers, onboard properties, and train third-party teams on financial standards and reporting.\
  • Dispositions: Work with the disposition team to respond to buyer diligence requests, prepare prorations, work with third-party teams to prepare estoppels, prepare and record closing entries, including gain/loss calculation, and monitor post-closing activity for true-up with buyers.\
    Required Skills and Qualifications\
    • \
    • 5-8 years of property accounting experience, with the majority in commercial real estate.\
    • Experience with Funds and/or Joint Ventures.\
    • Experience with fair value GAAP, tax accounting, IFRS (optional).\
    • Proficient with tenant recoveries (CAM) and understanding of waterfall calculations.\
    • Experience in year-end audit, including preparation of financial statements and footnotes.\
    • Ability to work independently, communicate effectively, and multitask/prioritize tasks.\
    • Proficiency with financial software systems applications and Microsoft Windows software programs (MRI experience optional).\
    \

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