Cost Accountant/Sr. Cost Accountant

Cost Accountant - Job Summary

A Cost Accountant is responsible for analyzing, recording, and reporting cost-related financial data to support effective decision-making within an organization. This role involves preparing cost estimates, tracking production costs, conducting variance analyses, and ensuring accuracy in cost allocations. Additional responsibilities include maintaining cost accounting systems, assisting with budgeting and forecasting, and ensuring compliance with internal controls and accounting standards.

Cost Analysis and Reporting

• Support cost roll-over processes and standard cost updates
• Prepare, analyze, and review standard costs for materials, Labor, and overhead in manufacturing
• Provide cost accounting support for inventory, manufacturing variances, and product profitability analysis
• Monitor production costs and compare them with budgeted costs, identifying and explaining significant variances.
• Prepare Monthly inventory reconciliations to ensure the accuracy of cost of goods sold (COGS) and inventory valuations
• Develop and maintain cost accounting procedures, policies, and internal controls to ensure compliance with financial regulations
• Identify opportunities for cost reduction and efficiency improvement in the manufacturing process
• Evaluate and implement cost-effective measures to streamline production processes
• Work with the finance and operations teams to analyze the cost impact
• Assist with budgeting and forecasting for manufacturing expenses.
• Evaluate BOMs (Bills of Materials) and routing changes for cost implications.

Required Education and Experience

• Bachelors degree in accounting or finance from an accredited college or university.
• Five + years of accounting related experience, including working in a lead and/or training capacity.
• Proficient with MS Office software and use of a PC; advanced skills in Excel
• Experience with tier 1 or tier 2 fully integrated ERP software and workflows.
• Strong knowledge of accounting and auditing principles and practices, including GAAP and cost accounting.
• Strong verbal and written communication skills with ability to communicate in English
• Superior math and problem-solving skills
• Ability to plan and organize work activities with a focus on efficiency.
• Proven ability to work both independently and collaboratively with different levels of employees
• Must be able to follow directions and work in a team environment