Cost Accountant

Cost Accountant

The Cost Accountant is responsible for analyzing, tracking, and reporting on all costs associated with company operations to ensure financial accuracy, profitability, and operational efficiency. This role plays a critical part in establishing standard costs, monitoring variances, improving processes, and advising leadership on cost-related decisions. The Cost Accountant ensures compliance with Generally Accepted Accounting Principles (GAAP) and provides data-driven insights to support strategic and operational goals.

Duties and Responsibilities

• Analyze fixed and variable costs to determine profit margins and operational performance.
• Set and maintain standard costs for manufactured goods.
• Establish and evaluate costs of business processes including administration, labor, shipping, warranty, and overhead.
• Track inventory levels and monitor cost fluctuations.
• Investigate and resolve cost variances and financial discrepancies.
• Identify trends and recommend cost-reduction strategies to improve profitability and minimize waste.

• Prepare detailed expense, budget, and supply chain reports for management.
• Forecast cost-related changes, risks, and financial impact for quarterly and annual planning.
• Perform account reconciliations and maintain accurate general ledger records.
• Prepare audit reports and present findings to management.
• Support the management of the company's balance sheet and accounting records.

• Maintain accurate financial records and review supporting documentation to detect inaccuracies.
• Ensure all financial reporting complies with Generally Accepted Accounting Principles (GAAP).
• Support internal and external audit processes.

• Partner with operations, HR, and leadership to calculate bonuses and commissions.
• Collaborate cross-functionally to identify root causes of discrepancies and implement corrective actions.
• Advise executives and upper management on appropriate costing methodologies based on financial data.
• Support departments with invoicing, capital expenditure tracking, and financial analysis.

• Recommend changes to company processes and policies to reduce costs and maximize profit.
• Develop and implement corrective measures to prevent recurring financial discrepancies.
• Utilize advanced Excel functions to analyze and manipulate large datasets to drive decision-making.

• Maintain a professional appearance and organized work area.
• Perform other duties as assigned.

Required Skills and Abilities

• Strong knowledge of GAAP and financial reporting standards.
• Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUP/XLOOKUP, complex formulas, data analysis).
• Experience with ERP/accounting systems.
• Strong analytical and problem-solving skills.
• High attention to detail and accuracy.
• Ability to communicate complex financial information clearly to non-financial stakeholders.
• Ability to manage multiple priorities and meet deadlines.

Education Background and Experience

• Bachelor's degree in Accounting, Finance, or related field required.
• 3+ years of cost accounting or manufacturing accounting experience preferred.
• Experience in inventory management and standard costing strongly preferred.

Physical Demands

• Prolonged periods of sitting at a desk or workstation.
• Occasional standing or walking within the office or shop, such as attending meetings, retrieving documents, or interacting with customers or employees.
• Occasionally lifting and carrying items, typically weighing up to 10-20 pounds.
• Frequent use of fingers and hands for typing, writing, and operating a computer.
• Using telephones, printers, copiers, and other office tools.
• Frequent need to focus on printed or digital material.
• Reviewing financial documents, schedules, or customer data with accuracy.
• Regular communication with customers, vendors, and team members, either in person, on the phone, or via video conferencing.
• Mild noise from office machines or nearby shop areas if the office is adjacent to the workshop.
• Moving around the office or between departments, sometimes requiring the ability to climb stairs.

Benefits Include

• Compensation: Pay is based on experience and qualifications
• Health & Wellness: Health/Dental/Vision/Life/Disability/Aflac available after 60 days
• Retirement: 401(k) with company match after 6 months at next enrollment period
• Paid Time Off: Paid time off and paid holidays

Additional perks: Company sponsored events, tool program, merchandise discounts, friendly team environment

Job duties, salary, and benefits are subject to change throughout duration of employment with Velocity.

Velocity is an Equal Opportunity Employer. Velocity does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.