James Wolfe Email & Phone Number

Littleton, Co, Us

Denver, Colorado, United States

Denver, Colorado, United States

• Manage, mentor and review the financial statement prep work of a staff of four for 30-40 clients at any given time with annual revenues ranging from $300K to $12 million (software is primarily QuickBooks Online)• Final monthly and quarterly sign-off of all areas of the Income Statement (Revenues, COGS, payroll, all other expenses, depreciation/amortization, etc) and Balance Sheet (bank reconciliations, A/R, fixed assets, inventory, A/P, short- and long-term liabilities, and equity)• Directly support about 30% of total firm revenue• Primary client contact for all accounting inquiries• During tax season, prepare annual financial statements for seamless and efficient tax return preparation and perform monthly current year maintenance from start to finish to free up staff bandwidth• Onboarding of new accounting clients, rolling forward or creating financial statements from scratch, and upon establishing efficient processes, delegating financial statement preparation to staff and reviewing their work• Monthly and quarterly sales and lodgers tax filings • Consolidated financial statement preparation for clients acquired or sold• Industries include software, construction, real estate, startups, venture capital, web research & marketing, professional services, health services, law firms, retail, hospitality, and restaurants• Projects to convert financial statements from cash to accrual for clients acquired, sold, or changing reporting method• Business entities: sole proprietors, partnerships, C-corporations, and a heavy emphasis on S-corporations

Denver, Colorado, United States

• Analyze, prepare and review monthly/quarterly/annual journal entries and accruals associated with all production taxes: Colorado and Texas ad valorem, severance, and conservation taxes• Provide accurate estimates in any given month of annual ad valorem tax (production and equipment) liabilities, reconcile estimates to actuals, pay the actual bills, and calculate JIB billings for third party interests• Reconcile and pay monthly/amended severance tax withholdings to Texas State Comptroller and Colorado Department of Revenue for all products• To support monthly and quarterly close processes, perform account reconciliations to ensure reasonableness and analytics to explain variances for Balance Sheet liabilities and Income Statement production tax expenses• Combine and reconcile production tax data from PDC plus acquired company SRC Energy and multiple ERP systems to ensure accurate payments of tax liabilities

Denver, Colorado

• Book ongoing $100M yearly payment royalties of trona/soda ash, coal, and industrial minerals received from mining producers in exchange for rights to extract and remove hard minerals from Anadarko (Oxy) owned land• FASB ASC-606 Revenue Recognition standard adherence: Amortize deferred revenues of upfront lease bonus payments over time based on estimated mineral reserves and lease term• Company conveyed a limited-term nonparticipating royalty interest (sale of future revenues) in certain of its coal and trona leases to a third party investor; therefore, account for proceeds from this transaction as deferred revenues (Balance Sheet liabilities), amortize deferred revenue to other revenues over agreement term, and accrue payable amounts to investors• Surface owner payment and revenue accruals• Consistent communications with Land, Financial Planning, and Operations on material changes to future economic value, mineral reserves, and impact on likelihood of future revenues• Quarterly 10-Q/10-K close support with emphasis on reporting customer contract liabilities, disclosure of future consideration – revenue from customers, investor short- and long-term deferred revenues, and payables adjustments/balances to investors

Denver, Colorado

• Severance Tax: - Calculate owner withholding on gross income and submit monthly payment to Colorado Department of Revenue- Monthly severance tax analysis based on Financial Planning estimated net income vs existing actuals by reconciling estimates with existing withholding, ad valorem tax, and stripper well exemptions- When all prior year revenues are booked, true-up that year's annual severance tax withholdings with owner net revenue interests, applicable deductions, ad valorem tax credits, and stripper well exemptions; then compile, produce and submit annual tax return forms DR-0021 and DR-0456 to CO Dept. of Revenue (submit additional payment if needed; otherwise, process refund when it arrives)• Oil and gas royalties report and payment for all wells with Colorado State Board of Land Commissioners interest• Quarterly Conservation Tax to Colorado Oil & Gas Conservation Commission (COGCC)• Ad valorem tax: Perform annual true-up on $150M-$200M ad valorem tax by comparing estimated ad valorem initially withheld monthly based on historical tax rates to actual taxes paid, then processing over/under withholding by well completion and products to ventures for owner check write; answer owner inquiries related to these adjustments

Denver, Colorado

• Check detail input, uploads, and journal entries for revenue of non-operated properties - 160 checks and wires totaling ~$275 million monthly• Cash clearing and cash preparation entries (~$1 billion monthly)• Suspense, A/R, and unapplied cash research and resolution; return funds for divested properties• Remitter setups and updates in SAP• CDEX data retrieval from Oildex and uploads to SAP - resolving remitter setup and data problems as needed

Greater Denver Area

• Sarbanes-Oxley (SOX) reporting of oil (120k BBL/month), natural gas (5 million MCF/month), and water production and sales on 2,200 wells for State and Federal governments; support of OGOR reporting• Construction and maintenance of oil, gas, and water delivery networks in SAP's "Production and Revenue Accounting" system• Coordinate with field personnel to reconcile operator to purchaser oil and gas pipeline production and sales volumes, then allocate back to wells

Denver, Co

• Perform bank reconciliations including compilation of all appropriate documentation;create appropriate journal entries for review and approval• Reconcile credit card transactions to statements; create documentation and appropriate journal entries• Verify proper general ledger accounting through account analysis and reconciliation at each closing cycle

Greater Denver Area

• Created, reviewed, and modified customized client Block Note and Detailed Footnote folios in accordance with Rivet and industry best practices using XBRL financial statement tagging program• Performed final review of Block Note folios• Reviewed SEC filing folios to help ensure they were prepared in accordance with client and SEC requirements• Researched and kept informed of Edgar Filing Manual updates and SEC mandates

Denver, Co

• Tax return preparation for a wide variety of individual, partnership, S-corporate, and corporate clients

Bs Business Administration, Accounting; Business

Activities and Societies: Beta Alpha Psi professional accounting fraternity; CSU Club and Intramural Sports; employment at CSU Lory.

Engineering

Activities and Societies: Varsity Cross-Country and Distance TrackSilver Academic/Athletic Award (Varsity Athlete with 3.50 - 3.99 GPA).