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KERRI GALGAS

Finance and Accounting Executive as Chief Accounting Officer and Controller

Ventura, CA

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MBA financial executive with Big 5 and multiple industry experience. Recognize for consistent management style resulting in high levels of team productivity. Goal-oriented, high energy and strong multi-tasking abilities. Ensure compliance with GAAP, IFAS, IRS, bank covenant and federal/state regulations. Profit-motivated, adept at cost reduction and held P&L responsibility.

Work Experience

Independent Contractor/ Financial Planner

Galgas Financial Services
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October 2010 to Present

Offering financial accounting, planning and tax services. Design, develop, advice and recommend financial plans and investment strategies to lower to middle financial market investors.

Chief Accounting Officer

Atlas Development Corporation
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Calabasas, CA
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2005 to 2011

Software Developer, Implementer, Maintenance & Support 
Responsible for monthly financial statements and Bank’s borrowing base certificate and analysis. Manage company banking and coordinate, interface, and manage the audit relationship. Responsible for review of client’s contract terms and conditions, coordinate billing milestone with the project managers and account executive. Oversaw and managed county government and state contracts for T&M billing and pricing under HHS/ CDC FAR flowdown clauses. Assist government sale’s department director with SF 1412 compliance and pricing and GSA Multiple Award Schedule (MAS) pricing and sales reporting requirements. Support and respond to government contract and billing audits and, technology ownership agreements. Responsible for accounts payable and receivable, payroll, and general accounting functions. Responsible for assuring compliance with GAAP and tax codes. Manage commission plans and payments. Prepare monthly financial forecast, profit and loss and cash requirements. Project leader and coordinator for move the company from Quickbooks to Dynamic’s Solomon financial accounting system.

Consultant- Controller, CFO, Vice President of Finance

International Medical Corps
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Santa Monica, CA
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2004 to 2004

Medical & Health Infrastructure 
Prepare audit schedules, audit and review programs/ grants for compliance with US Department of State terms and conditions, under A-133 and FAR requirements, analysis foreign currency transactions, assess compliance of company procedures, review inventory, analysis accounting allocations and operations of US, UK and Croatia.

CONTROLLER

MBDA, Inc
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Westlake Village, CA
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1998 to 2003

Engineering Design of Missile Systems, Training Ranges, and Aircraft Integration & Qualification 
Manage a staff of 12 professionals, financial accounting and planning, US and UK GAAP and International Account Standards, treasury, business taxes, contract finance, contract pricing and estimating (CAS, CAS disclosure statement, FAR, DFAR & Commercial) Information Technology, business insurance and corporate travel. Review company taxes and financial position and discovered that the company had not recorded all recognizable assets. Implemented programs for the recovery of value-added taxes and US state sales and use taxes. 
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CONTROLLER & MANAGER, of COMPLIANCE

Whittaker Corporation
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Simi Valley, CA
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1996 to 1998

- Electronics/ Communications 
Manage staff of 12 professionals, financial accounting, planning, contract finance, contract pricing and estimating (CAS, CAS disclosure statement, FAR, DFAR & Commercial), Information Technology and material management, and assess fact-find and negotiate with government agencies. Segregate the assets of two existing operating units into a new startup company. Resolve government FAR non-compliance, CAS form 1, 5 years of open cost claims and contractual issues, performed fact-finding, interpretation and application of contractual terms and condition, and negotiate with customer. Project leader and coordinator transition existing accounting systems to Dynamic’s Great Plains accounting system

MANAGER

Ernst & Young
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Woodland Hills, CA
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1989 to 1995

- Audit, taxes and consulting 
Manage upwards of 5 staff on government contract projects including audits, operational reviews and interpretation of government contract regulations, cost accounting systems, contract pricing and estimating (CAS, CAS disclosure statement, FAR, DFAR & Commercial), and manufacturing and material planning systems. Revise manufacturing process, layout and cost accounting systems. Institute pricing systems and procedures using learning curves, vendor rating systems, pricing models, and work cell manufacturing costing techniques.

MANAGER - BUDGETS & CONTROL

Northrop Corporation
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Newbury Park, CA
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1982 to 1989

- Engineering & Manufacturing 
Manage a staff of 20 professionals, $200 million financial budgets, overhead, capital, R & D, government pricing factors and conduct financial analysis. Assessed compliance with GAAP and government contract regulations, and cost impact studies. Developed annual and long range finance plans. Interface and negotiate issues with DCAA, ACOs and PCOs. Utilized financial modeling and regression analysis, demonstrated errors in DCAA’s pricing analysis. Project pricing required separate negotiation of rates and factors on each government contract. Prepared forward pricing rate proposal used on all future contract proposals with the government.

Education

MBA in Business Administration

Pepperdine University -
Malibu, CA

BA in Business Economics- Accounting

University of California -
Santa Barbara, CA

Additional Information

Demonstrate management and leadership abilities over 20+ year career in Finance, Tax and treasury management. Industry expertise includes engineering, electronics, computer software & hardware, missile/aircraft, ground transportation systems, environmental clean-up, legal firms, financial institutions, medical and pharmaceutical companies. Managed all finance disciplines in addition to; project management, insurance, procurement/material management, information technology and travel.  
 
Areas of expertise include: 
Finance and Accounting; 
Long-term contracting ASC 605-35 
Software Design and Development ASC 715, ASC […] ASC 350-40 
Stock Options ASC 718 
Income Tax reporting ASC 740, ASC 274 
Accounting for capital and operating leases- ASC 840 
Financial planning, budgeting, estimating, reporting and modeling, present value, regression analysis, cost base pricing 
Foreign Operations- under IFRS, consolidation- accounting under purchase and equity methods 
SEC Sector Reporting, prepare financial Statement footnotes disclosure 
Assess goodwill and investment impairment 
Presentation of financial statements, financial plans, project status/ program reviews- to executitve management, Board Members, outside auditors and council. 
Involved with and assess of merger and acquisitions, spin-offs, start-up, venture capital offerings  
Provided accounting and legal support to outstand council 
Design, implement, review and assess- ERP/ MRP systems for a number of clients (scope included EBOM, MBOM, requirements, scheduling, ordering and inventory controls) 
Accomplishments: 
Increased revenue 10% per year. 
Develop cost accounting system, organization and financial structure that provide truer measure of activities.  
Improved outside auditor and bank relationships, provide comfort with the company’s financial performance.  
Established financial planning and forecasting reporting which assist executive management with setting of monthly and quarterly priors.  
Decrease past due A/R from 25% to 10%, increasing monthly cash flow $200k. 
Reduced account balances to 45 days, confirmed 98% of balances with customers & collect $5 million in cash.  
Negotiate a $5 million price difference on a $30 million contract in Washington with a ½ day notice 
Cash and Treasury Management 
Negotiate bank ABL ROLC financing and covenant, and prepared monthly bank reporting- Borrowing Base Certificate 
Negotiate FX future contracts, SWAP and Spot contracts 
Negotiate and manage lease agreements, daily cash balances, investment accounts, interest rates- income & expense 
Accomplishments:  
$1m in financing for capital hardware.  
Additional financing of $500k, over asset base lending, higher borrowing and eligibility 
FX contract and management produce $500k in FX gains 
Secure prime interest rates over other commercial accounts, e.g. 20 to 50 basis points- earning & expense 
Improve borrowing terms against the revolving line of credit- increased eligibilities and reduce dilution 
Taxes Accounting 
Income taxes Federal and State 
Corporate, Sub-chapter S Corporation 
Depreciation IRS code 179 and 174 
R&D tax credit per 6785 and 280c election 
Tax planning 
Property Tax 
State and Local Taxes 
Accomplishments 
Reduced taxable income by 60% 
Generated tax credits nearly equal to tax liability 
Generated $5 million in tax assets used in future periods.  
Saved approximately $1.5 million/year in tax payments and $1 million/year in pension plan expenses.