Peter Felesina, CPA, CMA, MBA

Work History

Accounting and Finance Consultant

DLC

01.2020 - Current

Worked with clients of all sizes for a professional services firm that helps companies drive transformation and growth.
Performed ASC 842 analysis to identify embedded leases for all entities.
Quantified revenue adjustments required as part of the adoption of ASC 606.
Functioned as Interim Controller/VP Finance. Developed written procedures for all department tasks.
Developed margin analysis reports to help management better deal with pricing and obsolescence issues.
Drafted white paper for ASC 842 Lease Accounting Adoption.

Consultant

Saviynt

07.2019 - 12.2019

The leading Cloud Identity & Governance Software Platform.
Performed audit preparation and worked on implementation of Financial Force software. Updated last three years' financials to conform to GAAP.
Developed new Chart of Accounts. Performed account reconciliations. Adapted revenue recognition to comply with ASC 606 and reapplied payroll expense to apportion all related expenses to appropriate departments.

Controller

CentralSquare Technologies

06.2018 - 06.2019

Overall authority for the financial operation of the largest Public Safety Software Company. CentralSquare Software is the largest provider of solutions to manage local government, including 911, dispatch, records, mobile, and jail.
Directed all phases of the ASC 606 implementation including establishing an internal communication plan, and adoption timeline, completed the technical analysis (determining POBs, establishing SSP), drafting whitepapers and policies, crafting financial disclosures, implementing operation solutions, and managing stakeholder and external auditors.
Worked with Project Accountants. to coordinate and analyze Dynamics 365 reporting to ensure accurate reporting and maintain monthly project forecasts.

Controller

DDN Storage

04.2017 - 05.2018

Responsible for financial reporting, treasury, cost accounting, revenue recognition, transfer pricing, and strategic planning. DDN is the world’s leading big data storage supplier to data-intensive, global organizations. Supervise and develop a staff of twenty-five.
Created a revenue recognition tool for the revenue team to efficiently allocate deals for review and reporting.
Analyzed companywide travel expenditures and worked with various department heads with the goal of reducing travel expenditure by 10% and induced change in corporate flight and hotel booking policy.

VP of Finance/Acting CFO

IRise

03.2012 - 03.2017

Responsible for finance, accounting, taxes, investor relations, human resources, strategic planning, administration for a prototyping software company. iRise is the original prototyping software that defined the market. The software gives you a fast and powerful way to prototype new software products, features, and enhancements. Supervised and developed a staff of up to eight.
Redesigned the revenue recognition process eliminating sixteen-man hours per month and provided enhanced reporting and forecasting. The new process changed the way we approved and recorded each contract. Automated the approval process and redesigned the database which stored the contract information.
Redesigned the budgeting process to provide integration with the general ledger system and revenue recognition process, eliminating eight-man hours per month. The new process allowed enhanced accuracy and management reporting.
Outsourced the Accounts Payable function, eliminating the need for one full time employee. We implemented the Concur invoicing system allowing us to automate the approval workflow and our retention of invoice copies.
Worked to add invoicing and project management capabilities to Microsoft Dynamics GP, eliminating the need for an additional software saving $40K per year.
Implemented Dynamics GP Project Accounting module eliminating the need for separate program for tracking implementation projects.

Controller

Apriso

02.2009 - 03.2012

Overall authority for the financial operation of a Manufacturing Execution Software Company. Apriso software provides visibility into and control over your manufacturing process and your entire product supply network. Oversaw all accounting-related matters, including banking, AP, AR, GL, revenue recognition, payroll, loan accounting, month, and year-end close process; prepared consolidation and elimination entries, completed consolidated financial reports; managed annual external audit and tax planning and preparation. Supervised and developed a staff of five.
Performed Transfer Pricing study for all international offices using the Comparable Profits Method. Documented the information and analysis performed in the study. Developed policies and procedures based on the results of the study.
Brought FAS 123r calculation and tax provision in-house, saving approximately $50,000 per year.
Increased automation in the monthly close process by developing uploads from secondary accounting systems in MAS 200. Saved two days in the closing process.
President of 401k committee. Implemented company match of 401k contributions and revamped investment choices. Improved participation by 32%.

Controller

Peerless Systems Corporation

02.2006 - 03.2009

Overall authority for the financial operation of a public Software Imaging and Networking Company including. Responsible for preparing quarterly and annual SEC reports and monthly management reports summarizing company business activities and financial position. Supervised and developed a staff of six.
Developed a process to review all software license contracts for compliance with SOP 97-2 Software Revenue Recognition. This included organizing revenue recognition meetings with all responsible parties and getting signoff from auditors before the execution of all contracts. This resulted in the successful resolution of a material weakness from prior year.
Worked to develop a more efficient closing calendar for 10-Q and 10-K reports and better communication with outside auditors (Ernst & Young) resulting in no audit adjustments to financials.
Automated employee expense reporting by implementing software system (Concur) which interfaced with accounting software resulting in savings of approximately 16-man hours each month. The new software also resulted in more efficient tracking of travel and entertainment expenses allowing management to make more cost-effective decisions.
Automated payroll entries by setting up automatic downloads from third party payroll vendor and uploads to accounting system saving approximately 8-man hours monthly

Director of Finance

Jakks Pacific Inc

01.2003 - 02.2006

Responsible for all SEC reporting as well as managing the operational areas of accounts payable, inter-company activity, royalties, general ledger, financial statement preparation cash management, and related internal controls for one of the largest toy distribution companies with over $800M in annual revenues.
Responsible for the administration of over 300 licensing contracts and approximately $70M annually in royalties. This included: reviewing all abstracts of contracts to ensure that all agreements are properly interpreted; reviewing royalty statements and royalty advances to ensure proper and timely payments of all resulting obligations; and facilitating audits by Licensors. Developed a financial review process with the Licensing department prior to new licenses being signed to mitigate future royalty audit issues.
Established financial reporting process for newly acquired divisions. Performed due diligence and integration of two acquired companies with over $100M in revenues maintaining a smooth transition during assimilation.
Oversaw the setup of the initial SOX Control Matrix including assessing the internal control environment, establishing, and modifying controls, and performing testing as necessary in order to maintain compliance with SOX requirements and achieve best practices within the organization. The company completed SOX testing with no material weaknesses.

Summary

Overview

Work History

Accounting and Finance Consultant

Consultant

Controller

Controller

VP of Finance/Acting CFO

Controller

Controller

Director of Finance

Education

Bachelor of Science - Accounting

MBA - Finance

Skills

Other Relevant Experience

Timeline

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