Staff Accountant, Lease Accounting

Wawa, Inc.

About The Position

The Staff Accountant, Lease Accounting ensures that lease accounting is conducted in accordance with Generally Accepted Accounting Principles (GAAP), maintains lease accounting analyses, and supports accurate reporting of lease data and related footnotes in the company’s financial statements. The role works proactively with management across functions to identify agreements that may have lease accounting impacts and assists with analyzing and adopting new accounting pronouncements. The position is responsible for lease accounting compliance under Accounting Standards Codification 842, including maintaining documentation for accounting conclusions and audit support. It prepares lease balances and disclosures for monthly, quarterly, and annual consolidated financial statements; evaluates new leases and modifications; maintains lease accounting policies and procedures; and assesses related controls. Other duties include monthly balance sheet analysis, allocating lease and non-lease costs, reconciling costs to the SAP general ledger, researching new standards, preparing accounting memos, and completing special projects assigned by Corporate Accounting supervisory personnel.

Requirements

3–5 years of experience in Accounting or Finance.
Strong knowledge of Microsoft Suite products.
Ability to work individually and as part of a team, manage multiple tasks and tight deadlines, and maintain a high degree of accuracy.
Excellent oral and written communication, customer service, and interpersonal skills.
Ability to work with little or no supervision and independently.
Detail orientation and strong organizational skills.
Strong analytical and problem-solving skills.
Demonstrated ability to make decisions and act as a self-starter.
Solid leadership skills.
Ability to work additional hours, nights, and weekends occasionally.

Nice To Haves

Bachelor’s degree in Accounting or a related business discipline.
CPA designation.
Experience specifically associated with accounting for leases.
Public accounting (audit) experience.
Experience using Tango Lease Administration and Lease Accounting and SAP applications.

Responsibilities

Ensure GAAP compliance with lease accounting guidance under ASC 842, maintaining documentation for conclusions and supporting internal and external audit testing and reviews.
Work cross-functionally with management to reinforce awareness of lease accounting concepts and ensure effective identification and classification of agreements involving real estate, equipment, and embedded leases.
Prepare lease accounting balances and disclosures for monthly, quarterly, and annual consolidated financial statements.
Explain lease accounting implications to business stakeholders while agreements are being drafted and reviewed.
Perform finance-versus-operating lease analyses for new leases and lease modifications.
Create, update, and maintain company lease accounting policies and procedures.
Review and evaluate lease accounting controls and propose new or modified controls when deficiencies are identified.
Perform monthly balance sheet analysis of lease accounting accounts, allocate monthly fixed and variable costs between lease and non-lease components for recorded leases, and reconcile costs to the SAP general ledger.
Research newly issued leasing standards and prepare accounting memoranda for internal management and external auditors.
Perform special projects and other duties assigned by Corporate Accounting supervisory personnel.