Job Summary
Lannett Company, Inc. is looking for an experienced Senior Accountant to join our Revenue Accounting team. The Senior Accountant will report to the Manager of Revenue Accounting and is responsible for a variety of month and quarter-end close activities specific to accruals for returns, failure to supply and miscellaneous accounts receivable. Such activities include preparing balance sheet reconciliations, preparing and posting adjusting journal entries, financial analysis, and maintaining compliance with the Company’s established controls and processes, as well as other ad-hoc revenue accounting-related activities (i.e., claims reviews).
Scope of Job
Scope of the job includes revenue accounting responsibilities specific to the Company’s gross-to-net reserves for returns, failure to supply and miscellaneous accounts receivable.
Key Accountabilities
- Revenue Accounting
- Record, reconcile and analyze monthly activity in various balance sheet and income statement accounts related to commercial rebates and chargebacks
- Analyze customer agreements and evaluate potential triggering events (i.e., price changes, new and/or amended agreements, etc.) to ensure proper accruals and financial statement presentation
- Assist in the generation, preparation and review of monthly financial statements/packages, as well as various internal and external reporting documents
- Perform research/analysis and propose solutions for identified revenue accounting and reporting-related issues
- Collaborate with internal stakeholders across the organization, such as Sales and Marketing, Pricing and Contracts, Accounts Receivable, Cost Accounting, Financial Reporting, FP&A, among others, to investigate and resolve accounting and reporting-related issues
- Ensure that accounting records and processes are in compliance with the Company’s internal policies and procedures, as well as the Sarbanes-Oxley financial reporting requirement
- Other Duties
- Assist with all aspects of the quarterly financial statement reviews and annual financial audit, including preparing/providing audit support schedules, responding to inquiries from internal and external auditors, and other similar audit-related matters
- Identify and implement improvements to the Company’s existing Revenue Accounting processes and procedures
- Perform and assist in claims reviews (shelf stock adjustments, price protections, promotional allowances, failure to supply and miscellaneous claims)
- Assist the Manager of Revenue Accounting with other ad-hoc tasks and special projects (as necessary)
Experience
- Bachelor's Degree required
- CPA Certification preferred
- 3-5 years of relevant experience in accounting, finance or other related fields
- Prior experience with revenue recognition and gross-to-net accounting required
- Pharmaceutical and/or life sciences industry experience preferred
Other Skills
- Extensive knowledge of the customer contracts, the pharmaceutical distribution model and the various promotions, rebates, and other similar incentives offered by generic drug manufacturers.
- Knowledge of U.S. GAAP, including ASC 606 and accrual accounting
- Strong analytical, problem solving, and organizational skills
- Highly detail oriented
- Excellent interpersonal, verbal and written communication skills
- Works well under pressure in both team and individual settings
- Dependable and flexible
- Proficient in standard Microsoft tools such as Excel, Word, SharePoint, etc.
- Prior hands on experience with SAP or other similar ERP systems
- Ability to work in a general office environment
- Occasional travel may be necessary (less than 5% of time)
