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Cost Accountant
Published on: Aug 30, 2024
Country: United States
Company: Luminex Corporation
Job Category: Finance
Employment type: Regular Full Time
Job Scope
The Industrial Cost Accountant, reporting directly to the Industrial Controlling Manager, is a key member of the plant industrial controlling team and is responsible for:
- Managing the plant’s day-to-day cost accounting functions.
- Advising Industrial Controlling Manager of potential risks on controlling the assets and inventories at the facility.
Key Responsibilities and Duties
- Partnering with operations to timely update the BOM’s as needed.
- Setting up the standard cost for new materials as needed and updating the standard costs once a year according to the company policies.
- Monitor and maintain part numbers in Oracle.
- Reviewing and closing job orders timely, summarizing and reviewing the variances with the operations team and Industrial Controlling Manager.
- Assist to analyze and review the purchase price variance report.
- Work closely with the accounting team and the Industrial Controlling Manager to perform the month end closing timely and accurately.
- Monthly reconcile third party / outside inventory locations.
- Perform monthly inventory reconciliations, review and reconcile any discrepancies with the Industrial Controlling Manager and Operations team.
- Review and track the inventory cycle counts, summarize and discuss variances with the Industrial Controlling Manager, ensuring any material write off was properly approved according to the policies and procedures.
- Assist inventory personnel to ensure proper accounting on manual movement types in Oracle.
- Review the monthly obsolescence calculation / reserve, analyze the data and discuss with the Industrial Controlling Manager any future exposure or risk.
- Review monthly spending by cost center and recommend necessary accruals.
- Provide training and assistance to operations personnel to enhance their understanding of all components of product costs and their understanding of the cost center reporting.
- Assist in the preparation of the company’s annual operating plan with respect to preparing the data for inventory costing, manufacturing cost, variances and trends.
- Assist with internal and external audits.
- Ensure compliance with internal controls.
- Complete ad hoc reporting to support manufacturing team as needed.
Education, Experience, and Qualifications
- Bachelor’s degree in accounting
- 3-5 years of experience in a manufacturing cost accounting system.
- Knowledge of and skill using personal computer equipment and related software such as Microsoft Word for Windows and Excel
- Knowledge of and skill in using automated general ledger systems. Knowledge of Oracle is preferred.
- Verbal communication skills such as the ability to be diplomatic under adverse conditions; ability to be sensitive and respond with a sense of urgency to requests for information.
- Strong analytical skills such as the ability to identify current and future trends necessary to maintain an efficient inventory system and minimize risk.
- Problem solving ability such as the ability to utilize appropriate resources to resolve an issue; ability to follow an issue through to resolution.
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