Our client is a fully diversified private property development company that has been carrying out land development, construction, and property management in Canada and the United States for more than 50 years. They are one of Toronto's most experienced and innovative real estate development companies and have earned a reputation for award-winning construction quality, beautiful designs, and efficient living spaces.

Position Overview:

• Manage and oversee the full accounting cycle for multiple development projects.
  • Perform timely month-end close and ensure recording all pertinent transactions including setting up of monthly accruals and properly documenting journal entries
  • Perform regular bank, trust deposit and loan reconciliations
  • Review and preparation of receivables and ensure timely collections
  • Monthly reconciliation of intercompany accounts
  • Monthly review of projects’ trial balances and maintenance of key schedules for letters of credit, loan amortizations, other and accrued liabilities, and equity roll; and ensures that all control accounts are reconciled to the subsidiary ledgers
  • Manage cost ledgers for any misclassification of costs and record required cost accruals (invoices, interest, cost to complete, etc.)
  • Record acquisition entries and analyze joint venture and management agreements
  • Monitor the purchase order and contracts with change orders are in line with the commitments and budgets and processes are maintained.

• Prepare monthly draw requests (equity cash calls, deposits, and/or construction loan), coordinate, and respond to project monitor inquiries
  • Maintain ongoing analysis of project budgets on a pro forma basis
  • Cost variance analysis and accruals
  • Track and analyze joint venture fees
  • Recording of loan proceeds and ensure completeness of back-up information
• Manage home closing process and bank loan pay-out
  • Review of purchasers’ files, prepare the interim and final closing worksheets, coordinate and approval of Statement of Adjustments, and post sales
  • Record unit closing entries and loan payments
  • Calculate cost of sales allocation on closed units, and cost-to-complete accruals
  • Prepare cashflow forecast including waterfall distribution (return of capital and cash distribution)
  • Reconcile property taxes by unit and calculate purchasers’ tax refund, if any.
  • Facilitate mortgage and construction financing and maintain schedules.

• Manage projects’ reporting

• • Prepare financial reports for submission to internal and external partners
  • Assist in compliance reporting to lenders and government
  • Monthly filing of projects’ HST return
  • Prepare year-end working papers, review adjustments, and manage audit requirements
• Administration and process improvements
  • Set up project budgets, change orders and estimates in the accounting system, as well as implement control and maintenance activities including the PUD accounts.
  • Coordinate with the operations and other teams to process monthly property financials (i.e. invoice coding, purchase orders, project details and variance analysis) as needed.
  • Identify and implement process re-engineering opportunities
  • Ensure compliance with Generally Accepted Accounting Standards (IFRS and ASPE), internal audit and client accounting services and internal review standards.

What you must bring to this role:

• Minimum 7 years in a Project Accounting in Construction/Development
• People management experience 1+ year
• CPA Designation is a bonus
• Skilled with Excel and Yardi (Or a similar ERP software such as NEWSTAR, JD Edwards, etc.)