Richard Marchesani, CPA
Richard Marchesani is an Associate Consultant and Technical Advisor to Process Partners. Rich has over 21 years of experience, including 18 years with public corporations and 3 years with a big four audit practice. His public corporation management experience includes positions as Corporate Financial Reporting Manager, Corporate Controller and Plant Controller. He has extensive experience in SEC compliance with specialization in reporting, establishment and maintenance of internal controls, domestic and international consolidations and technical research. Rich also has significant experience in applying technology to realize operational improvements in financial and supply chain functions.
A key strength of Rich's is his natural focus on continuous improvement as demonstrated in the following accomplishments in his career:
- As the Corporate Reporting Manager for a major public corporation with responsibility for all SEC interim and annual filings, Rich reduced number of SEC comments on the 2007 Annual Report by approximately 90 percent compared with the 2004 Annual Report. As an added benefit this reduction reduced the length of the 2007 Annual Report by approximately 20 percent, reducing the cost by over $50 thousand.
- Rich significantly shortened both internal and external reporting deadlines. SEC filings were consistently filed 3 to 5 days prior to the SEC deadline with no material revisions as a result of external auditor review.
- Assisted in establishing controls to ensure compliance with the Sarbanes-Oxley Act of 2002 resulting in no material weaknesses in internal control identified.
- Reduced external audit fees by a combined $75 thousand as the result of accurate interpretation of applicable accounting guidance, resulting from his technical research and implementation of current FASB and SEC guidance.
- Designed and implemented a system to track inventory returns, eliminating the possibility of paying for returned items which resulted in a savings of $250 thousand annually.
- Designed all production, inventory and cost accounting modules for computer system conversion to SCT Adage using an activity-based costing methodology, which led to more accurate standard costs of all products manufactured.
- Established a variance reporting system effectively measuring material, labor and overhead costs of production, saving $100 thousand per year due to improved cost control.
- Established a slow-moving inventory monitoring system, which was instrumental in reducing gross inventory from $13 million to $9 million.
- Hands-on working knowledge of ERP systems, such as Oracle 11i and SCT Adage.
Rich's qualifications include the following certifications and degrees:
CPA Certificate - Georgia
Masters of Accountancy, University of Georgia,
BA, Accounting Major, University of Georgia
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