Lease Accounting

3 days ago

haryana, India 7DaySearch Full time

Experience: US/UK/Europe exposure is a must Industry Background: Ideally from Real Estate or Hospitality Education: Finance or Accounting degree is mandatory Years of Experience: 7–12 years Compensation: Fixed expectation should not exceed 18 LPA ROLE OVERVIEW: As a Senior Accountant with the Hines Lease Administration group, you will assist in the performance and review of lease abstraction procedures for all North American projects based on standard operating procedures developed by the department. You will also assist in the preparation and review of various calculations throughout the year that are instrumental to the lease administration function. RESPONSIBILITIES: Perform the initial review of the lease abstracts for all new leases and lease amendments for Hines operating properties every period in accordance with the lease administration department’s standard abstraction procedures. Assist with lease administration as follows: interpret lease agreements and accounts for impacts of lease provisions and clauses, ensure that the appropriate accounting treatment has been applied, interpret lease options so that they are applied correctly and draw conclusions as necessary. Assist the staff accountant in the entering of straight-line rent information into the system by providing any necessary accounting determinations. Review straight-line rent information entered in the system and provide adjustments to the staff accountants as necessary. Assist in the preparation and review of the percentage rent calculations in the frequency required per the lease document upon being provided with the sales report for each individual tenant. Assist in the preparation of the annual operating expense reconciliation calculations by tenant. This will include adding actual information by tenant into the templates, performing recalculations of information, tying out data within the template itself for accuracy and consistency and preparing invoices for tenant reconciliations. Assist with the calculation of operating expense estimates for budgets, forecasts and quarterly accruals. Assisting in the preparation and review of the annual rent start letter preparation process for tenants. Support the Accounting Manager and Controller in the preparation of any ad hoc schedules needed for reporting. Provide guidance to the Staff Accountants as necessary in the completion of their roles and responsibilities. As necessary, step in and perform the preparation of the tasks listed above which are noted to be in a review capacity. Comply with all Hines policies and procedures. EDUCATION: Bachelor’s/Masters degree from an accredited university in Accounting or Finance. Completion of CPA/CA/ACCA certification is a plus. SKILLS/CERTIFICATIONS: Strong knowledge and application of Generally Accepted Accounting Principles. Excellent verbal and written communication skills. Analyze and interpret various types of data in order to draw conclusions and solve problems. Proficiency in preparation of computer spreadsheets, analysis, etc. Strong critical thinking skills. Ability to work well independently as well as with a large group of individuals spread across various geographical locations. Exchange ideas, information, and opinions with others to formulate and/or arrive jointly at decisions, conclusions, or solutions. High attention to detail for maintaining accurate records and documentation. Ability to manage high volume and multi-task efficiently.

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