Manager, Transaction Accounting (FAAS)

Intrinsic LLC•Chicago, IL

6d•$135,000 - $175,000•Hybrid

About The Position

Every acquisition a PE sponsor closes creates an immediate accounting event with lasting financial consequences. The Opening Balance Sheet and purchase price allocation don’t just satisfy a compliance requirement; they establish the foundation for how a portfolio company reports earnings, measures goodwill, and communicates financial performance to investors and auditors for years to come. This role exists at that critical intersection. As a Manager in our FAAS practice, you will own the technical execution of ASC 805 purchase accounting and Opening Balance Sheet preparation for PE-backed portfolio companies navigating post-close accounting. You’ll be the person sponsors and controllers depend on to translate complex deal structures into clean, defensible, audit-ready financial records, on a timeline that doesn’t wait. This is not a staff augmentation seat. You will manage workstreams independently, collaborate directly with portfolio company finance teams and third-party valuation specialists, and ensure every deliverable meets the standard of precision that PE investors and their auditors demand. You’ll also contribute to shaping how our growing FAAS practice approaches transaction accounting, building methodology, templates, and intellectual capital as we scale. Why Intrinsic Technical depth over breadth—you’ll specialize in work that carries real consequence, not shuffle between generic advisory tasks Elite peer group—work alongside former Big 4 partners, PE operators, and portfolio company CFOs who sharpen your thinking Direct access to sponsors and portfolio leadership—no layers between you and the stakeholders who depend on your work Hybrid flexibility—based in Denver or Chicago with remote options and meaningful work-from-anywhere policies Growth trajectory—clear development path from Manager to Director within a high-impact practice at an inflection point What Makes You a Fit You bring deep transaction accounting expertise:

Requirements

6+ years of progressive experience in Big 4 FAAS/Deals, national advisory, or in-house technical accounting with significant exposure to ASC 805 purchase accounting in PE-backed or acquisitive environments
Proven track record leading PPA execution, OBS preparation, and technical accounting memoranda for business combinations and divestitures—you’ve done this work, not just reviewed it
Authoritative command of US GAAP as applied to business combinations: fair value measurement, goodwill, intangible asset identification, contingent consideration, measurement period adjustments, and related disclosures
CPA designation (active or eligible) strongly preferred
Familiarity with valuation concepts and experience collaborating with third-party valuation specialists on PPA inputs
Strong Excel and financial modeling skills; comfort navigating ERP systems and working with complex data across multiple entities
You manage your workstreams with ownership and precision—tracking what’s open, anticipating what’s next, and communicating clearly when circumstances shift
You’re decisive under pressure—deal timelines are non-negotiable, and ambiguity sharpens your judgment rather than slowing it
You translate complex accounting into plain-English explanations that controllers, sponsors, and auditors can act on
You’re a clear, professional communicator—equally effective drafting a technical memo as walking a CFO through post-close accounting implications
You hold yourself to a high standard of documentation and self-review—your work is audit-ready before anyone else sees it

Nice To Haves

Experience in a PE-backed portfolio company or acquisitive corporate environment where you led or supported OBS/PPA workstreams in-house
Exposure to divestiture and carve-out accounting beyond standard business combinations
Familiarity with adjacent FAAS workstreams (close transformation, financial reporting, M&A integration) that broaden your contribution over time

Responsibilities

Lead purchase price allocation (PPA) execution under ASC 805, including fair value measurement, goodwill calculation, and identification of acquired intangible assets
Prepare and reconcile Opening Balance Sheet bridges for acquisitions and divestitures—translating deal mechanics into GAAP-compliant financial records
Draft and review technical accounting memoranda for business combinations and divestitures, ensuring conclusions are clearly reasoned and audit-ready
Book acquisition-related journal entries and post-close adjustments with precision; coordinate with controllers to ensure proper integration into the general ledger
Develop and maintain GAAP-compliant calculations for purchase accounting, bargain purchase assessments, measurement period adjustments, and related disclosures
Coordinate with third-party valuation specialists to align fair value inputs with accounting conclusions and ensure consistency across deliverables
Work directly in client ERPs and close processes to support timely booking of acquisition accounting entries
Help management teams translate deal terms into practical journal entries, reconciliations, and close checklists
Make judgment calls when information is imperfect, documenting conclusions while keeping the close moving
Bridge the gap between “technically correct” and “operationally executable” accounting in lean finance environments
Serve as a technical resource on complex accounting issues arising from business combinations, including contingent consideration, earn-outs, step acquisitions, and carve-out transactions
Collaborate with controllers, FP&A teams, and external auditors to ensure accurate post-close financial reporting and smooth audit cycles
Partner with controllers and CFOs to evaluate accounting alternatives, explain implications, and support informed decision-making under tight timelines
Serve as a thought partner to management teams who may be encountering ASC 805 complexity for the first time
Provide guidance on ASC 805 compliance requirements, emerging standards, and practical application in middle-market PE environments
Anticipate audit questions and prepare supporting documentation proactively—not reactively
Manage multiple concurrent workstreams independently, setting timelines, tracking deliverables, and communicating progress to engagement leadership and client stakeholders
Deliver high-quality work under tight deal-driven deadlines without sacrificing accuracy or documentation standards
Contribute to FAAS practice development: help refine OBS/PPA templates, build internal playbooks, and share knowledge that raises the team’s technical capability
Provide coaching and feedback to Associates and Senior Associates on transaction accounting methodology and workpaper quality