Michael Lorman
About Michael Lorman
Michael Lorman is a Staff Accountant II at Thomson Reuters, where he supports the Global Controllership Team in managing $6.2 billion in annual revenue. He has a background in accounting and finance, with experience in mergers and acquisitions and significant contract reviews.
Work at Thomson Reuters
Michael Lorman has been employed at Thomson Reuters as a Staff Accountant II since 2015. In this role, he supports the Global Controllership Team, overseeing a substantial revenue stream of $6.2 billion annually. His responsibilities include implementing the SAP general ledger and establishing robust internal controls as part of a shared service center development. Lorman also leads business improvement initiatives, focusing on automating various monthly processes, particularly for revenue and expenses recognition entries.
Previous Experience at US Bank
Before joining Thomson Reuters, Michael Lorman worked at US Bank as a Staff Accountant from 2002 to 2005. During his three years in the Greater Minneapolis-St. Paul Area, he gained valuable experience in accounting practices and contributed to the financial operations of the bank. His early career at US Bank laid the foundation for his subsequent roles in accounting and finance.
Education and Expertise
Michael Lorman earned a Bachelor of Arts degree in Accounting and Finance from the University of Minnesota - Carlson School of Management. His educational background provides him with a strong foundation in financial principles and practices, which he applies in his current role as a Staff Accountant II. Lorman's expertise includes providing accounting guidance on mergers and acquisitions, as well as business divestitures.
Achievements in Accounting
In his professional career, Michael Lorman has reviewed significant contracts with an annual value exceeding $5 million on a quarterly basis. He prepares revenue recognition memos in accordance with IFRS 15, ensuring compliance with international financial reporting standards. His contributions to the field of accounting include implementing effective internal controls and enhancing operational efficiency through automation.