Job Description
Full job description
Join the LKQ Family! We're looking for motivated individuals to join our team at LKQ Corporation. With opportunities for growth, competitive benefits, and a supportive work environment, LKQ is the place to be. Apply now and take the first step toward a rewarding career!
Responsible for the global administration and reporting of all facility, vehicle, and equipment lease accounting activities for the company.
Essential Job Duties
Lead the preparation, coordination, and maintenance of lease documentation to ensure accurate and timely recording of lease schedules in compliance with ASC 842.
Oversee the entry and ongoing maintenance of lease data within the lease accounting system, ensuring data integrity and alignment with contractual terms.
Apply advanced knowledge of ASC 842 to review and determine appropriate lease classification and accounting treatment, including complex arrangements and modifications.
Manage lease-related activities within the monthly, quarterly, and annual financial close processes, including preparation, review, and approval of journal entries.
Review and validate lease schedules maintained in the Lease Accounting Application, ensuring consistency with source documentation and accounting standards.
Serve as a subject matter expert in reviewing lease agreements and interpreting terms for proper accounting treatment.
Perform and review detailed reconciliations of lease-related balance sheet accounts, investigating and resolving discrepancies proactively.
Identify, recommend, and lead process improvements and automation opportunities to enhance the efficiency and accuracy of lease accounting operations.
Provide guidance and mentorship to junior team members, supporting their development and ensuring adherence to internal controls and accounting policies.
Act as a key contact with cross-functional teams (e.g., Real Estate, Fleet and Logistics, Legal, and FP&A) to ensure lease terms are accurately reflected in the accounting system.
Monitor and respond to lease-related communications, escalating issues as needed and ensuring timely, documented resolution of inquiries.
Prepare and review audit schedules for internal and external audits, serving as a primary point of contact for lease-related audit requests.
Stay current on accounting guidance, regulatory changes, and best practices in lease accounting, and assess implications for company policies and procedures.
Support strategic initiatives and special projects related to lease accounting, including system upgrades, M&A activity, and policy updates.
Assume other duties as assigned.
Supervisory Responsibilities
Not responsible for supervising employees.
Minimum Requirements
Education & Experience
Bachelor’s Degree in Accounting.
5+ years of related experience required; Fully competent professional; In-depth knowledge and experience.
Preferred Requirements
CPA certification.
Experience with FinQuery Lease software.
Experience in a corporate accounting environment.
Knowledge/Skills/Abilities
Knowledge of U.S. GAAP regulations and procedures as they relate to accounting.
Ability to formulate policy and document processes and procedures.
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rates, ratios, and percentages and to draw and interpret graphs.
Frequent use of Outlook, Word, Excel, graphics, etc. Ability to create, maintain, and incorporate functions into Word documents, Excel spreadsheets, databases, and PowerPoint presentations to support business objectives.
Regularly uses moderately complex oral and written skills. May train others in functional areas, interact with colleagues, and deliver presentations to departmental or middle management.
Problems are varied and complex, requiring analysis or interpretation of the situation. Problems are solved using knowledge and skills, general precedents, and practices.
Decisions generally affect one's job or the assigned functional area.
Results are defined; sets personal goals and determines how to achieve results with few or no guidelines to follow; supervisor/manager provides broad guidance and overall direction.
Handle multiple tasks or projects simultaneously with moderate complexity.
Essential Physical Demands/Work Environment
Work is primarily sedentary: must be able to sit for extended periods and use a computer, keyboard, and mouse, frequently.
Travel may be required periodically, including overnight stays (contingent on position requirements).
Must be able to lift up to 25 pounds.
Benefits:
Health/Dental/Vision Insurance
Paid Time Off
401k with Generous Company Match
Company Paid Life Insurance and Long-Term Disability
Short-Term Disability
Employee Assistance Program
Tuition Reimbursement
Employee Discounts
Join us for an exciting career journey with positive, driven individuals.
Join the LKQ Family! We're looking for motivated individuals to join our team at LKQ Corporation. With opportunities for growth, competitive benefits, and a supportive work environment, LKQ is the place to be. Apply now and take the first step toward a rewarding career!
Responsible for the global administration and reporting of all facility, vehicle, and equipment lease accounting activities for the company.
Essential Job Duties
Lead the preparation, coordination, and maintenance of lease documentation to ensure accurate and timely recording of lease schedules in compliance with ASC 842.
Oversee the entry and ongoing maintenance of lease data within the lease accounting system, ensuring data integrity and alignment with contractual terms.
Apply advanced knowledge of ASC 842 to review and determine appropriate lease classification and accounting treatment, including complex arrangements and modifications.
Manage lease-related activities within the monthly, quarterly, and annual financial close processes, including preparation, review, and approval of journal entries.
Review and validate lease schedules maintained in the Lease Accounting Application, ensuring consistency with source documentation and accounting standards.
Serve as a subject matter expert in reviewing lease agreements and interpreting terms for proper accounting treatment.
Perform and review detailed reconciliations of lease-related balance sheet accounts, investigating and resolving discrepancies proactively.
Identify, recommend, and lead process improvements and automation opportunities to enhance the efficiency and accuracy of lease accounting operations.
Provide guidance and mentorship to junior team members, supporting their development and ensuring adherence to internal controls and accounting policies.
Act as a key contact with cross-functional teams (e.g., Real Estate, Fleet and Logistics, Legal, and FP&A) to ensure lease terms are accurately reflected in the accounting system.
Monitor and respond to lease-related communications, escalating issues as needed and ensuring timely, documented resolution of inquiries.
Prepare and review audit schedules for internal and external audits, serving as a primary point of contact for lease-related audit requests.
Stay current on accounting guidance, regulatory changes, and best practices in lease accounting, and assess implications for company policies and procedures.
Support strategic initiatives and special projects related to lease accounting, including system upgrades, M&A activity, and policy updates.
Assume other duties as assigned.
Supervisory Responsibilities
Not responsible for supervising employees.
Minimum Requirements
Education & Experience
Bachelor’s Degree in Accounting.
5+ years of related experience required; Fully competent professional; In-depth knowledge and experience.
Preferred Requirements
CPA certification.
Experience with FinQuery Lease software.
Experience in a corporate accounting environment.
Knowledge/Skills/Abilities
Knowledge of U.S. GAAP regulations and procedures as they relate to accounting.
Ability to formulate policy and document processes and procedures.
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rates, ratios, and percentages and to draw and interpret graphs.
Frequent use of Outlook, Word, Excel, graphics, etc. Ability to create, maintain, and incorporate functions into Word documents, Excel spreadsheets, databases, and PowerPoint presentations to support business objectives.
Regularly uses moderately complex oral and written skills. May train others in functional areas, interact with colleagues, and deliver presentations to departmental or middle management.
Problems are varied and complex, requiring analysis or interpretation of the situation. Problems are solved using knowledge and skills, general precedents, and practices.
Decisions generally affect one's job or the assigned functional area.
Results are defined; sets personal goals and determines how to achieve results with few or no guidelines to follow; supervisor/manager provides broad guidance and overall direction.
Handle multiple tasks or projects simultaneously with moderate complexity.
Essential Physical Demands/Work Environment
Work is primarily sedentary: must be able to sit for extended periods and use a computer, keyboard, and mouse, frequently.
Travel may be required periodically, including overnight stays (contingent on position requirements).
Must be able to lift up to 25 pounds.
Benefits:
Health/Dental/Vision Insurance
Paid Time Off
401k with Generous Company Match
Company Paid Life Insurance and Long-Term Disability
Short-Term Disability
Employee Assistance Program
Tuition Reimbursement
Employee Discounts
Join us for an exciting career journey with positive, driven individuals.
💡 Quick Summary
Seeking a career-building opportunity? The Global Senior Lease Accountant position is now open for candidates interested in the Accountant Jobs sector. This role in Chicago offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Accountant Jobs is a plus.
