Summary
Overview
Work History
Education
Skills
Affiliations
Timeline
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Ifeoma Ugwuanyi

Ifeoma Ugwuanyi

Locust Grove,GA

Summary

Proficient accounting professional with proven expertise in manufacturing systems, cost accounting and management of general accounting functions. Exceptional analytical skills, practiced at in-depth examination into transaction/workflow details in support of process and profit improvement. Collaborate efficiently with Operations Managers to resolve variances, refine forecasts, and identify opportunities for improvement. Additional areas of strength include: Revenue Validation Management ReportingCost of Goods AnalysisMonth/Year End ClosingMonth/Year End ClosingVariance AnalysisProduct Sales/Rental Mix AnalysisAccruals & Reserve AnalysisVendor Receivables MgtLabor & Overhead Cost AnalysisAudit & Internal ControlProcess ImprovementFinancial Statement ReviewsWarranty Receivable MgtDue Diligence & AcquisitionGeneral Ledger & Chart of Accounts Bill of Material AnalysisAccount Reconciliations

Overview

23
23
years of professional experience

Work History

Senior Cost Accountant

Mi-Jack Products Inc.
Homewood, IL
10.2014 - Current
  • Revenue validation & recognition
  • Gross Margin Analysis of Product Sales, Services and Rentals
  • Preparation of various ad hoc financial analysis and reports to support Operations
  • Inventory and Bill Of Material Analysis
  • Labor and Overhead Rates Analysis
  • Manufacturing Variance Analysis
  • Reserve Calculations and Analysis
  • Cost Accruals and Revenue Deferrals & Amortizations
  • Manufacturing Job and Cost Adjustments
  • General Ledger Account Reconciliation
  • Preparation for Annual Audit
  • Prepares monthly, quarterly, and annual financial reports and ensures financial information had been recorded accurately
  • Performs financial period closing including timely and accurate month-ends, year-ends, related analysis, account reconciliation, working papers, reviews and posts closing entries as needed
  • Monthly Financial Reviews.

Accounting Manager

Verathon Medical Canada
Vancouver, BC
01.2006 - 07.2008
  • Was responsible for planning, developing, and implementing effective accounting strategies, policies, and procedures
  • Developed and maintained internal controls, policies and procedures to efficiently prepare financial statements and to safeguard the assets of the company
  • Was responsible for the timely completion and submission of financials to US parent for consolidation
  • Financials were prepared according to US GAAP as these were consolidated into the corporate books (Annual audits were performed by Delloitte & Touché LLP, USA)
  • Performed financial period closing including timely and accurate month-ends, year-ends, related analysis, account reconciliation, working papers, reviewed and posted closing entries as needed
  • Prepared several monthly manufacturing reports including Material Purchase Price Variance, Cost of goods sold variance analysis, margin analysis, inventory valuation and labor cost analysis
  • Determined annual standard costs for labor, materials and burden and entered these in the ERP
  • Evaluated actual manufacturing costs and prepared periodic reports comparing standard costs to actual production costs
  • Examined changes in product design, raw materials, and manufacturing methods to determine effects on costs
  • Oversaw periodic inventory counts, approved inventory adjustments for shortages and obsolescence
  • Ascertained costs of defective products and recommended write-offs
  • Directed the proper tracking of costs at all stages of product Life Cycles: from idea conception, process development, facility design, through pilot runs to actual production
  • Also tracked re-engineering costs
  • Supported operational and research departments through advising and preparation of ad hoc accounting analysis to assist other managers in understanding key financial performance of the business
  • Assisted on issues that required inter-departmental coordination and ensured that employees were well informed of accounting policies, procedures, and regulations
  • Drove Verathon Canada’s business plans, forecasts and annual budgeting process in support of Verathon worldwide targets and deadlines
  • Supported Corporate CFO (USA) in coordinating and directing response to inquiries from internal or external entities about accounting or other information of financial nature
  • Directed the administration and maintenance of employee payroll information
  • Reconciled Vacations, RRSPs and payroll deductions to the general Ledger
  • Prepared routine reports to government agencies and insurance companies
  • Issued Records of employment and interfaced with Human Resources Development Canada on matters relating to terminated employees
  • Supervised benefits programs for the company including health, dental, life, long term disability, workers’ compensation, vacations, sick leave and holiday pay
  • Prepared required documents to establish or renew these benefits
  • Worked with Corporate IT group on the identification, evaluation of systems issues and enhancements to relevant internal systems and supporting workflows
  • Evaluated Scientific Research and Experimental Development (SR&ED) activities and expenditures within R&D projects to determine qualification for government grants
  • Worked closely with R&D Director in tracking qualifying SR$ED and product improvements activities
  • Processed year-end government research reimbursement claims
  • Over 95% success rates in claims processed
  • Supported audits and reviews by external financial auditors
  • Liaised with relevant and associated areas and groups within the business process to establish, support and maintain business relationships and organizational effectiveness
  • Supervised and developed accounting staff and performed annual evaluations.

Accounting Supervisor

Saturn Biomedical Systems Inc.
Vancouver, BC
06.2001 - 12.2005
  • Managed plant accounting activities including general ledger, costing, financial reporting, accounts receivable/payable, payroll and taxes
  • Developed, analyzed, and interpreted accounting data to evaluate operating results for profitability and performance to budget
  • Generated and analyzed daily, monthly, quarterly, and annual reports and ensured financial information had been recorded accurately
  • Coordinated and directed the preparation of the budget and financial forecasts, instituted and maintained other planning and control procedures (including the cost accounting system), analyzed and reported variances
  • Responsible for the completion of monthly management reporting package and other financial results; maintaining the companies’ financial models and conducting financial reviews with management to ensure company operated within the financial plan
  • Performed financial period closing including timely and accurate month-ends, year-ends, related analysis, account reconciliation, working papers, reviewed and posted closing entries
  • Established an inventory-based manufacturing accounting system, which included about 26 Bill of Materials: about 18 configured systems and finished products and over 166 raw component parts
  • Supervised Inventory counts: prepared Inventory valuation reports and recommended inventory adjustments for shortages and obsolescence
  • Initiated and administered maintenance and administrative expenses reduction programs that resulted in cost containment by 25%
  • Applied strict financial controls to reduce bad debts by over 30%
  • Performed month-end closing; coordinated and reviewed accruals/provisions
  • Examined entries posted to ensure accuracy
  • Prepared year-end working papers; journalized and posted closing entries as required
  • Partnered with the General Manager and other members of the leadership team; provided advice and counsel on a wide range of issues facing the business
  • Identified and implemented process improvements, cost saving initiatives, and lean manufacturing strategies that increased earnings
  • Supervised the activities of accounting and payroll employees.

Education

MBA - Banking/Finance

01.1999

Bachelor’s degree - Accounting

01.1997

Skills

  • Proficient accounting professional
  • Manufacturing systems
  • Cost accounting
  • Management of general accounting functions
  • Exceptional analytical skills
  • Revenue Validation
  • Management Reporting
  • Cost of Goods Analysis
  • Month/Year End Closing
  • Variance Analysis
  • Product Sales/Rental Mix Analysis
  • Accruals & Reserve Analysis
  • Vendor Receivables Mgt
  • Labor & Overhead Cost Analysis
  • Audit & Internal Control
  • Process Improvement
  • Financial Statement Reviews
  • Warranty Receivable Mgt
  • Due Diligence & Acquisition
  • General Ledger & Chart of Accounts
  • Bill of Material Analysis
  • Account Reconciliations
  • Project Costing
  • Generally Accepted Accounting Principles
  • Financial statement review
  • Ad Hoc analysis
  • General ledger accounting

Affiliations

  • Professional Affiliate Member, Illinois CPA Society, Chicago
  • Member, Institute of Management Accountants, Chicago Chapter

Timeline

Senior Cost Accountant

Mi-Jack Products Inc.
10.2014 - Current

Accounting Manager

Verathon Medical Canada
01.2006 - 07.2008

Accounting Supervisor

Saturn Biomedical Systems Inc.
06.2001 - 12.2005

MBA - Banking/Finance

Bachelor’s degree - Accounting

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Ifeoma Ugwuanyi