Cost Accountant

Job Description

Job Description

A Cost Accountant plays a crucial role in a company’s financial management by analyzing costs and providing insights to improve profitability. They are responsible for monitoring overall costs within a manufacturing environment, ensuring accurate and timely reporting of financial data, and providing cost analysis to support business decisions.

Key Responsibilities Include:

• Conduct cost accounting activities including analyzing cost of raw materials, labor and overhead expenses.
• Prepare and maintain the Bill of Materials (BOM) and Labor Routings to ensure accurate costing of inventory
• Reconcile Inventory Accounts ensuring accuracy and identifying any discrepancies
• Perform cost analysis, providing insights and recommendations to management for cost-saving opportunities
• Assist with month-end processes, including journal entries, account reconciliation, and variance analysis
• Prepare quarterly plant forecasts collaborating with operational department managers to set annual operating budgets, production volume estimates, and standard costs updates within ERP system
• Capital Project tracking, including project spend analysis, review of proposed capital projects, and IRR calculations for ROI projects.
• Fixed Asset maintenance, including monthly depreciation posting, work with department managers to place assets in service when projects are completed and track assets impairments to ensure accurate fixed asset book value.
• PL analysis for new product offerings to assist management time with pricing strategies.

Qualifications:

• Bachelor’s degree in accounting, Finance, or related field
• At least 2 years of experience in cost accounting, preferably in a manufacturing environment
• Strong knowledge of cost accounting principles and practices
• Experience with ERP systems, preferably in inventory and cost modules
• Proficient in Excel
• Excellent analytical and problem-solving skills
• Ability to effectively communicate financials information to management team