Cynthia Fukushima, CPA
Danville
Summary
Experienced tax executive with 24+ years of public accounting and corporate tax experience who strives for efficiency through risk-assessment, forward-thinking and swift resolution. A successful tax leader is viewed as a strategic business partner working closely with finance, legal, HR, R&D, manufacturing organizations.
Overview
24
24
years of professional experience
1
1
Certification
Work History
Executive Director, Head of Tax Operations
Gilead Sciences, Inc.
02.2017 - Current
- Head of Tax Provision and Compliance functions
- Develop/implement global Corporate Tax strategic plan
- Executive management of Tax Operations group (team of approximately 9)
- Successfully restructured Tax Operations function and personnel organizational structure
- Lead discussions with CFO, CAO and FP&A on effective tax rate forecasting and associated analytics
- Analyze 2017 Tax Reform related computations (Transition Tax, GILTI, FDII, BEAT) to understand impact to effective tax rate and summarize for upper management
- Analyze tax related portions of forecasting models in connection with M&A activity
- Tax lead on M&A integration efforts
- Lead Federal income tax controversy matters – contributions include: successful reduction of IRS assessment of $2.9B down to $1.2B through negotiations with IRS Field examiners
- IP restructuring – emphasis on effective tax rate forecasting, tax accounting and cash tax forecasting
- Employee mobility: risk assessment, develop tax-related policies, collaborate with HR, legal, Payroll, Stock Administration
- Oversee state/local income tax controversy matters
- Collaborate with Treasury function: cash tax planning/forecasting, FX hedging, debt-related financing
- Collaborate with State Government Affairs function to enable tax-specific focus
- Oversee in-sourced U.S. federal and state tax compliance process, including preparation and review of tax return calculations, forms, estimates and extensions for over 100 annual filings
VP, Tax Operations
Lions Gate Entertainment Corporation
03.2014 - 02.2017
- Head of Tax Provision and Compliance functions
- Prepared forecasting models in connection with implementation of new international IP/distribution structure. This includes cost sharing computations, distribution function computations, and services allocations.
- Prepared tax related portions of proforma financial statements and forecasting models in connection with M&A activity
- Led interactions with CFO, CAO and FP&A with respect to financial reporting and forecasting areas. Act as liaison between tax and main contact groups: accounting, financial planning and analysis, U.K. office.
- Led collaboration with U.K. and U.S. business and finance personnel to design and implement new international IP/distribution structure
- Oversaw tax compliance process. Coordinate planning and execution of tax return preparation by EY
- Overall day-to-day management of Tax Operations group (team of approximately 10)
- Manage/participate in special projects that arise in federal, state and local, and international tax area. This includes, for example, accounting method changes, implementation of Luxembourg/Canadian FinCo structure, and overall domestic loss analysis.
- Participate in tax due diligence, tax structuring, and debt analysis for potential acquisitions (included preparing/analyzing leverage rations with CFO)
Tax Senior Manager
Ernst & Young LLP
04.2000 - 03.2014
- Provide general tax consulting and tax compliance services with focus on federal tax for public and private companies. Served clients primarily in technology, media and entertainment, retail/consumer products, and consulting service industries.
- Prepared ASC 740 and FIN48 workpapers for public and private companies. Strong understanding of documentation needed for audit of public companies.
- Prepared tax analysis in connection with income tax effects with respect to accounting for stock-based compensation. Strong understanding of tax accounting rules in this area.
- Prepared tax provision workpapers in connection with various mergers and acquisitions (includes acquisitions, spin offs, reorganizations). Strong understanding of tax accounting rules as it relates to purchase accounting.
- Prepared provision workpapers for several international jurisdictions to account for US GAAP/local GAAP/local tax permanent and temporary differences.
- Project manager of corporate tax projects for mid-size to large high-tech companies to quantify and substantiate their research tax credit claims and analysis in tax inventory valuations and tax accounting methods.
- Prepared/reviewed analysis in connection with research and development tax credit studies
Education
Bachelor of Science - Accountancy
California State University - Sacramento
Sacramento, CASkills
- Tax Operations department management
- Accounting for income taxes (ASC 740, including FIN 48)
- Corporate tax strategy, planning & compliance
- Tax controversy
- Employee mobility – tax matters
- M&A tax accounting & integration
Certification
Certified Public Accountant, California (current)
Timeline
Executive Director, Head of Tax Operations
Gilead Sciences, Inc.
02.2017 - Current
VP, Tax Operations
Lions Gate Entertainment Corporation
03.2014 - 02.2017
Tax Senior Manager
Ernst & Young LLP
04.2000 - 03.2014
Bachelor of Science - Accountancy
California State University - Sacramento