David Hughes, CPA

Masters of Business Administration: Accounting ² Tulane University ² New Orleans, LA

Bachelors of Business Administration: Marketing ² Southern Methodist University ² Dallas, TX

Certified Public Accountant: Previously licensed in Texas, eligible for relicensing. Eligible for California reciprocity

Fluent in spoken and written Spanish.

International Experience working in Colombia, Ecuador and Mexico.

Available for domestic and international travel. Relocation considered

PROFESSIONAL EXPERIENCE

AVAD, LLC ² Van Nuys, California ² Aug 2005 – Present

Corporate Controller: Director level executive, reporting to the CFO, for $400MM distributor of custom home electronics with 39 locations in the United States and Canada experiencing annual growth rates up to 35% since 2005. AVAD is a wholly owned subsidiary of Ingram Micro (NYSE: IM, Fortune Ranked #76).

· Centralized accounts payable, accounts receivable, general ledger and other accounting functions reducing functional headcount over 25% and improving department performance. Improved DPO 33% - 67% since centralization through improvement of accounts payable procedures. Currently leading post-centralization efforts to improve credit and collections function and accounts receivable portfolio.

· Redesigned Return-to-Vendor procedures and directed recovery of over $2MM in uncollected vendor debits.

· Analyze gross margins and financial results/metrics against plan and forecast. Review quarterly balance sheet and act as liaison with parent company for North American consolidation, SEC reporting and the annual audit.

· Manage accounting department, including sales and property tax compliance, accounts payable, accounts receivable, general ledger and financial reporting, with 4 direct reports and 33 total employees.

· Direct company-wide closing process and financial consolidation for United States and Canadian companies. Reduced closing process from 2+ weeks to 5 days, including Canadian consolidation and financial reporting.

· Directed post-acquisition accounting transition of 12 separate companies to a single company. Responsible for acquisition related accounting, including goodwill, true-ups and earn-outs.

· Key member on implementation team for company-wide deployment of MAS 500 ERP system and EDI initiative.

· Recognized for excellence for contribution to Canadian expansion efforts.

· Develop and implement policies and procedures in conjunction with other functional departments such as IT, purchasing and operations.

DAVID HUGHES ² Los Angeles, California ² Apr 2001 – July 2005

Sarbanes-Oxley Project Consultant: Direct and support compliance efforts of public companies subject to Sarbanes Oxley Section 404. Clients included TRC Companies, Inc. (NYSE: TRR); Star Gas Partners, LP (NYSE: SGU); InterActive Corp. / Expedia.com (Nasdaq: IACI); Occidental Petroleum Corporation (NYSE: OXY)

· Interfaced with management and process owners to understand SOX 404 requirements and results of process documentation and control testing.

· Assisted process owners in development and implementation of required remediation.

· Developed financial process narratives and flowcharts through process owner interviews.

· Identified and classified internal controls. Developed and performed tests of internal controls. Identified and tested compensating controls for failed primary controls.

· Performed process walk-throughs to verify veracity of narratives, flowcharts and internal controls.

· Reviewed team documentation of financial processes and internal control testing.

Financial Accounting & Reporting Consultant: Direct accounting and financial reporting functions, provide audit support, assess and improve processes and internal controls, and special financial projects. Clients included Tickets.com (delisted) and privately held companies, such as direct marketer/assembler of computer systems, multi-location beauty supply retailer, IT firm acquiring an ERP solutions provider, pharmaceutical marketing firm, clinical trials patient recruitment firm.

· Worked with creditors and suppliers to create a financial plan allowing client to continue operations.

· Automated intensive manual revenue cycle processes, reducing required employee efforts by 75%.

· Reviewed bundled software, hardware and maintenance contracts to determine proper revenue recognition in accordance with SOP 97-2 (software revenue recognition).

· Performed due diligence procedures on the financial statements of planned acquisitions.

· Managed integration of acquired company’s financial accounting processes into client’s accounting department.

· Managed cash flow, including focus on factored accounts receivable and payroll of acquired company, ensuring client funding commitments were met.

· Developed and managed integration of job cost budgeting and margin analysis into proposal development increasing accuracy and completeness of project proposals.

· Reviewed and modified contracts with pharmaceutical clients and vendors. Served as primary contact with client and vendor contract departments.

· Designed general ledger account structures, financial reporting and management reporting.

· Reduced month-end closing and reporting time from 15 days to 7 days.

WEWALK.COM ² Newbury Park, California ² Apr 2000 – Jul 2001

Controller: Senior manager, reporting to the COO and CEO, responsible for all accounting and financial reporting of start-up footwear manufacturer, with facilities in Thailand, selling directly to niche markets such as the airline industry.

· Developed and implemented logistical plan to ship product from Thailand to the customer, saving 30% in shipping costs and adding 5% to the gross margin while losing only 1 day in transit time.

· Created accounting department and developed accounting policies, procedures and internal controls.

· Served on SAP implementation team with IT department and the Enterprise Solution Provider.

· Responsible for all financial reporting & forecasting, product cost analysis and cash flow management.

· Developed financial models and business plan proformas used by the company founder & CEO in the fundraising process.

LASKY HAWBAKER & COMPANY ² Dallas, Texas ² 1997 – 2000

Senior Accountant: Lead accountant responsible for audit, tax and attestation services reporting directly to the partner.

· Responsible for risk assessment, planning, and fieldwork of audit, review, and compilation clients. Consulted with clients to improve their accounting policies, procedures, and internal controls.

· Prepared financial statements and footnote disclosures (GAAP and OCBA).

· Prepared individual, corporate, and partnership federal and state tax returns. Prepared payroll and related state and federal payroll returns. Researched and resolved client tax issues.

ARTHUR ANDERSEN ² Dallas, Texas ² 1996 – 1997

Experienced Staff Associate: Led and participated in audits and M&A projects for public companies with revenues to $2.3B.

· Supervised field staff and reviewed audit workpapers on audits of municipal governments, mid-sized businesses and benefit plans.

· Prepared financial statements and footnote disclosures for 10-K, 10-Q and ERISA audits.

· Served on team performing numerous due diligence procedures for public client growing through acquisition.

· Converted cash basis financial statements to GAAP for SEC 8-K filings.

· Developed training materials and trained new staff.

COOPERS & LYBRAND ² El Paso, Texas ² 1994 – 1995

Audit Staff: Led and participated in audits and reviews for public companies with revenues up to $27B.

· Supervised and performed benefit plan audits; 10-Q reviews; inventory observations, including Mexican manufacturing and warehouse facilities of U.S. based clients; and other small audits.

· Documented and tested financial accounting processes and internal controls. Drafted management comments for process and control improvements.

· Served on audit teams of high risk clients, emerging market companies and the firm’s largest client.

SOFTWARE

MAS 90/200/500, SAP, PeopleSoft, Fixed Asset Manager, Microsoft Office (Word, Excel, PowerPoint, Outlook, Access, Visio), MS Project and other accounting tools