Haresh Vaswani, CPA

CTI Technologies, Inc.
2018-Present
Finance Manager
  • Responsible for the day-to-day functions of the finance department, including monthly close, preparing financial statements, reconciling GL accounts, booking JEs for various transactions, processing payroll for corporate and manufacturing employees, human resources duties, processing commissions, reviewing inventory balances and recording COGS entries, and others.
  • Responsible for preparing weekly cash forecasts, analyzing and explaining variances between actual spend vs budget, recommending cost savings, working with plant manager in preparing forecasted projections for headcount, biomass, and other manufacturing costs. Presenting a comprehensive analysis of fixed & variable costs to management.
  • Researching, tracking & recording revenue based on contracts that have revenue recognition components, recording barter and like-kind exchange transactions, and explaining these complex transactions to management.
  • Preparing and filing the annual Orange County and Riverside County Property Tax returns, Quarterly Payroll returns 941s, DE9s, etc., Sales and Use Tax returns, Cultivation Tax return, Excise Tax returns, 2017 Corporate (CTI) Annual tax return (1120), issuing 1099s, issuing W-2s and others.
  • Researching complex GAAP issues in areas of restructuring of debt and debt forgiveness, barter revenue (exchange biomass for labor), revenue recognition in manufacturing, taxable income and expenses related to the cannabis industry (i.e. what can be included in COGS), related party debt, conversion of debt to equity, and others.
  • Working with US and Canadian auditors in preparing for a 3-year audit of the company’s financial statements, including cleaning up the GL, preparing workpapers for various GL accounts, documenting internal control processes, documenting and explaining complex transactions, preparing 3-year consolidated financials including the Statement of Cash Flows, and other as required by the auditors.
  • Working with banks and financial institutions, Cannabis, IRS, EDD and other regulators.
Controller
2015-2017
BlueHarbor, Inc – Bought out by Ally Financial
  • Was responsible for the day-to-day functions of the finance department, including monthly close, preparing financial statements, reconciling GL accounts, booking JEs for various transactions, processing payroll & commissions, reconciling loan documents to bank drafts and ACHs, reviewing and reconciling loan documents, and others.
  • Was responsible for presenting monthly financial results to the management team.
  • Was tasked in identifying risks in the loan approval process and responsible for documenting and implementing internal controls to mitigate any risk. Also involved in evaluating the invoicing and collection of loan funds, fees, and other charges to ensure proper revenue recognition for extended and GAP contracts.
  • Prepared various reports including but not limited to calculating key metrics on business performance, forward looking financial statements, and finding areas for cost cutting.
  • Was responsible for working with Ally auditors to provide financial and other data during the pre-acquisition process.
Lifesript, Inc.
2005-2015
Controller
  • Was responsible for the day-to-day functions of the finance department, including monthly close, maintaining and recording fixed asset transactions, depreciation entries, equipment leases and amortization, prepaid expense amortization, unearned and earned income reconciliation, recording and issuing options, warrants, stock buybacks, and maintaining the cap table. Preparing consolidated financial statements, reconciling GL accounts, booking JEs for various transactions, processing payroll & commissions, maintaining the 401(k) accounts, reviewing inventory balances and recording COGS entries, year-end physical count, adjusting inventory balances for E&O, shortage, etc. and other functions.
  • Was responsible for evaluating, documenting and implementing internal controls for upcoming 2009 financial statement audit.
  • Worked with external financial auditors in preparing annual consolidated financial statements, audit schedules, internal control assessment documentation, disclosure checklist, AR and other confirmations, footnote disclosures & other documentation and supporting schedules as needed for the annual financial statement audit.
  • Was responsible for preparing & reconciling various cash, credit card, and balance sheet accounts.
  • Was responsible for setting up & updating the Accounting Policies and Procedures Manual.
  • Was responsible for supervising, mentoring and training various AR, AP & staff accountants.
  • Was responsible for performing due diligence on two acquisitions during 2013-2015, & recording the purchase accounting entries, including goodwill, and booking the appropriate YE impairment entries.
  • Assisted the CFO in preparing budgets, analyzing budget to actual, preforming fluctuation analysis on various accounts, and preparing budget to actual financial results.
  • Prepared and filed the annual Orange County and LA County Property Tax returns, Delaware Tax returns, Sales and Use Tax returns, issuing 1099s and others.
  • Was project manager in transitioning from Quickbooks Enterprise to Great Plains ERP software and responsible for preparing the QB data for export in GP, working with Microsoft consultants in setting up the Chart of Accounts, setting up invoicing, importing customer data, setting up the report writer software, and many other tasks as assigned.  
Lantronix, Inc.
2001-2004
Senior Financial Reporting Accountant
  • Assisted the Director of SEC Reporting in the preparation of financial statements and disclosures for the annual and quarterly public company filings, and preparing various supporting schedules and tables.
  • Worked with various departments, sales, legal, etc., in gathering data used in footnote disclosures or other management discussion and analysis reports.
  • Worked with internal auditors in providing supporting schedules and other data for the 10-Qs.
  • Was responsible for preparing various supporting schedules and tables.
  • Was responsible for working closely with various departments in setting up internal controls, testing existing controls to ensure compliance with SOX, & working with external auditors to assess risks.
  • Was responsible for preparing US GAAP financial statements for the German subsidiary including preparing eliminating entries, foreign currency translation adjustments, and more.
  • Responsible for maintaining and reconciling a $550M cash account received from the IPO.
  • And other accounting duties.
KPMG
1997-2001
Manager
  • Responsible for planning and conducting various financial statement audits for both privately held and publicly traded companies in the manufacturing, health-care and technology industries.
  • Responsible for evaluating, testing and documenting internal controls, and assessing risks from lack of internal controls.
  • Coaching, training and mentoring audit staff.
  • Working with clients in developing strategic policies and procedures to maintain integrity in their financial reporting processes.
  • Researching complex technical issues for various clients during and after audits.
California State University, Fullerton
1994-1996
Bachelors of Arts – Business
Fullerton College
1992-1994
Associates of Arts – Business
Skills
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