Job Title: Cost Accountant
The Cost Accountant is responsible for analyzing and controlling the cost of production and manufacturing processes. This role involves preparing detailed cost reports, managing cost accounting systems, and working closely with various departments to ensure accurate cost data.
The Cost Accountant plays a critical role in budgeting, forecasting, and financial analysis to support the company's financial objectives and improve profitability.
Key Responsibilities:
- Analyze production costs and variances, identifying areas for cost reduction and process improvement.
- Prepare detailed cost reports, including cost of goods sold (COGS), manufacturing variances, and profitability analysis.
- Monitor and report on cost performance, providing insights into management for decision-making.
- Maintain and update cost accounting systems and processes to ensure accuracy and efficiency.
- Ensure proper costing of products, including direct materials, labor, and overheads.
- Implement and manage cost control measures and tracking systems.
- Assist in the preparation of annual budgets and financial forecasts.
- Analyze budget vs. actual performance and investigate variances.
- Support departmental budget planning by providing cost estimates and financial analysis.
- Monitor and analyze inventory levels and costs, ensuring accurate valuation and reporting.
- Conduct regular inventory audits and reconcile discrepancies.
- Work with supply chain and procurement teams to optimize inventory costs.
- Identify cost-saving opportunities and process improvements within the manufacturing operations.
- Develop and implement cost control procedures and best practices.
- Collaborate with production and engineering teams to evaluate and enhance cost efficiency.
- Ensure compliance with accounting principles, company policies, and regulatory requirements.
- Maintain accurate and organized cost accounting records and documentation.
- Prepare for and assist with internal and external audits related to cost accounting.
- Partner with production managers, engineers, and other departments to gather data and support cost-related initiatives.
- Provide financial insights and support for project management and process optimization.
Qualifications:
- Bachelor’s degree in accounting, finance, or a related field.
- Minimum of 5 years of experience in cost accounting, preferably within a manufacturing environment.
- Strong understanding of cost accounting principles and manufacturing processes.
- Proficiency in accounting software and Microsoft Office Suite (Excel, Word, PowerPoint).
- Excellent analytical, problem-solving, and communication skills.
- Attention to detail and ability to manage multiple tasks and priorities.
EEO/AA Employer/Vet/Disabled.
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