Accounting Manager

ACCOUNTING MANAGER  | JOB DESCRIPTION 

SUMMARY 

At Magnolia, the Accounting Manager is responsible for developing, interpreting, and implementing complex financial and accounting concepts or techniques for financial reporting and analysis of the company’s performance. This role will be in direct support of front-line business unit managers to ensure accurate reporting and performance is communicated effectively and efficiently. This position works from Magnolia Headquarters in Waco, Texas. It reports to the Corporate Controller and has supervisory responsibilities. 

ESSENTIAL DUTIES AND RESPONSIBILITIES 

• Manage the month-end and year-end financial close processes, ensuring accurate and timely preparation of financial statements in accordance with accounting standards* 
• Perform daily/monthly review of more complex accounts and reconciliations* 
• Ensure compliance with accounting principles, policies, and regulations, and relevant tax laws.  
• Collaborate with cross-functional teams, such as operations, merchandising, and planning, to gather financial data, assess business performance, and provide financial guidance and reports* 
• Assist in the development and implementation of internal controls, policies, and procedures to safeguard company assets and ensure accuracy in financial reporting 
• Mentor and provide guidance to junior accounting staff, fostering their professional growth and ensuring accuracy and efficiency in their work 
• Partner with Finance in the development and maintenance of the company’s annual operating plan* 
• Oversee the general ledger and maintain accurate records 
• Develop and implement accounting policies and procedures to ensure accuracy and compliance with regulations. 
• Oversee all accounting functions related to retail operations, including accounts payable, accounts receivable, inventory management, and revenue recognition. 
• Manage the preparation and review of monthly, quarterly, and annual financial statements in compliance with GAAP. 
• Ensure accuracy and timeliness in the monthly closing process. 
• Monitor and analyze retail sales trends, margins, inventory levels and profitability. 
• Manage inventory accounting, including cost of goods sold (COGS) calculations, landed cost, and shrinkage analysis. 
• Collaborate with the operations team to ensure accurate POS (Point of Sale) system integration with accounting records. 
• Foster a collaborative, growth-oriented environment while maintaining high performance standards. 
• Ensure compliance with all applicable sales tax regulations and filing requirements. 
• Coordinate with internal and external auditors for annual audits and special reviews. 
• Identify and implement best practices to enhance efficiency and accuracy in accounting workflows. 
• Leverage technology to streamline reporting and operational processes. 

*Metrics evaluated on Performance Review 

COMPETENCIES 

• Teamwork: Contribute to a team environment supporting diversity, equity, inclusion, and belonging. Work effectively with others, be a team player and contribute toward team goals. 
• Critical Thinking: Propose creative solutions within specific specialization. Ability to analyze data, trends, and patterns. 
• Expertise: Expert in knowledge, skills, tools, and techniques relevant to specialization. Able to develop expertise in related area(s). 
• Communication: Actively engage in listening to teammates and guests and be open to feedback from guests, peers, and management. 
• Guest Focus: Ability to proactively understand and meet guest needs, ensuring a personalized and guest-centric experience. 
• Strategy and Goal Setting: Approach change with positivity and curiosity. Know your role in achieving team goals. 
• Hard skills: Proficiency in Microsoft Excel required, experience using NetSuite accounting software and Workday Adaptive Insights planning tool preferred, comprehensive understanding of financial statements and the accounting relationships among them, strong understanding of financial metrics and cash flow management. Strong understanding of GAAP and regulatory compliance. 

 

ELIGIBILITY QUALIFICATIONS 

• Bachelor's degree in Finance or Accounting from a 4-year college or university preferred 
• 2-4 years of experience with a related degree, 2-3 years in a manager role preferred , or 5+ years of retail industry experience preferred 
• Proficiency in Netsuite is preferred 

PHYSICAL DEMANDS 

While performing the duties of this job, the employee is regularly required to sit; use hands and arms to reach, handle, feel; utilize fine motor dexterity of fingers; talk or hear and taste or smell. The employee is frequently required to stand and walk. The employee is frequently required to climb or balance and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds, and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

WORK ENVIRONMENT 

While performing the duties of this job, the employee is occasionally exposed to outside weather conditions. The noise level in the work environment is usually moderate.   

ACKNOWLEDGEMENTS  

Magnolia is an Equal Opportunity Employer that does not discriminate on the basis of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth and pregnancy-related conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information, or any other characteristic protected by applicable federal, state or local laws and ordinances. 

This job description has been designed to indicate the general nature and level of work performed by an employee in this classification. It is not to be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications of employees assigned to this job. Management has the right to add to, revise, or delete information in this description at any time.