Cost Accounting Manager ensures that costs for the company’s products and services are allocated according to corporate procedures and in compliance financial accounting standards. Oversees the cost control systems, manages and interprets cost audits, and prepares cost accounting reports for presentation to top management. Being a Cost Accounting Manager gathers historical cost data (materials, labor, depreciation, operating expenses, etc.), to compare budgets with actual expenses. Manages the cost accounting staff to complete projects. Additionally, Cost Accounting Manager requires a bachelor’s degree or its equivalent. Typically reports to a Director. The Cost Accounting Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met, adhering to approved budgets. Has full authority for personnel actions. Extensive knowledge of department processes. To be a Cost Accounting Manager typically requires 5 years experience in a related area as an individual contributor. 1 to 3 years supervisory experience may be required.
Cost Accounting Manager Job Description Template
Our company is looking for a Cost Accounting Manager to join our team.
Responsibilities:
- Analyze and reconcile inventory transactions for accuracy and completeness in support of monthly financial reporting;
- Provide management with reports specifying and comparing factors affecting the cost and profitability of products;
- Calculate Inventory reserve monthly based on aging inventory;
- Work with supply chain to develop or better understand existing metrics and KPIs that influence financial performance;
- Review work order variances with the production team;
- Assists in the annual budgeting process;
- Assist month-end close of general ledger;
- Work with outside auditing firm during annual audit;
- Analyze and report variances on work orders for manufacturing and fabrication;
- Partner with Supply chain/production/branches to train SAP users on proper movement types, ex. 551/552 is scrap;
- Performs other duties as may be assigned by management;
- Direct the development and implementation of accounting and operational procedures and processes;
- Analyze costs of materials, processes and labor to determine opportunities and methods for reduction of production and inventory costs;
- Analyze complex data and identify patterns, recommend actions, and measure outcomes;
- Develop and/or update accounting and operational process and procedures documentation around the inventory management and costing processes.
Requirements:
- Bachelor’s degree in accounting or finance;
- Experience working in Microsoft D365 F&O;
- Knowledge or experience in using sound judgment within broadly defined practices and policies;
- Ability to perform comfortably in a fast-paced, deadline-oriented work environment;
- Strong Excel skills, especially advanced financial modeling and analytical techniques;
- Excellent organizational, verbal and written communication skills;
- 5-8+ years cost accounting experience required, CPA or CMA preferred;
- Ability to work as a team member, as well as independently;
- Excellent analytical skills; strong focus on accuracy and attention to detail;
- Able to streamline and automate complex processes;
- Manage direct staff including scheduling, planning, assigning, and directing work; identifying and resolving problems;
- Oversee the physical inventory program including monitoring and reporting the results of cycle and full counts;
- Ability to apply knowledge of Generally Accepted Accounting Principles & Cost Accounting Standards;
- Track record of working in cross functional organizations and leading a team;
- 7 or more years or related experience.