Functions as a business/administration support person to the various production departments as a part of the financial management team. Responsible for establishing and detailing department, account and product level costs and variances. Works closely with Configuration Management, Product Development and production departments to understand the manufacturing process, product flow, product costs and how this impacts the financial results. Supports the month end close, account reconciliations and special projects as requested. Works closely with manufacturing departments to educate/inform them regarding cost drivers, variances and metrics. The Cost Accountant acts as a liaison between manufacturing departments and the CFO. The Cost Accountant is responsible for the valuation of the inventory and monitoring the cost of labor, overhead and materials that comprise this valuation.
ROLE SPECIFIC COMPETENCIES
- Excellent communication skills
- Ability to multi-task
- Highly organized
- Ability to work in a faced paced environment
ESSENTIAL DUTIES and RESPONSIBILITIES (including but not limited to)
- Supports monthly close process by making standard accrual entries and analyzing accrual balances and payroll inputs.
- Interacts with Configuration Management to ensure that the product Bills of Materials (BOM) and Routers are accurate and that Standard Costs are reasonable.
- Creates ad hoc product/account cost analysis and reports to support production department management and management information needs.
- Reconciles raw material, WIP, semi-finished goods and finished goods inventories with general ledger balances.
- Supports year end inventory physical count and inventory audit review.
- Analyzes actual product costs and prepares periodic reports comparing standard costs to actual production costs detailing scrap, purchase price variance, warranty and labor costs
- Analyzes changes in product design, raw materials, and manufacturing methods to determine effects on standard product costs
- Manages standard cost accounting system including review of customer invoicing.
- Helps to develop new labor and overhead rates for budget and forecast Business Plan models.
- Other Cost Accountant duties as assigned
This position requires a Bachelor’s degree in Accounting or Business Economics
Training and Experience:
1 to 5 years’ experience as Cost Accountant role, or related public accounting experience
Computer literate with a knowledge of ERP system protocols, Excel and MS Word
Skills and Abilities to:
Demonstrate teamwork skills, technical, communication, and critical thinking
WORK ENVIRONMENT and PHYSICAL DEMANDS
Work is usually performed in an office environment, utilizing standard office equipment and common warehouse tools. The noise level in the work environment is usually moderate. While performing the duties of the job, the employee is regularly required to talk and hear. The employee is frequently required to move and use hands. The employee is constantly required to stand; walk; reach with hands and arms; lift and/or move up to 10 pounds.
To fulfill the requirements of the essential duties and responsibilities, an individual must be able to perform each duty satisfactorily. The requirements and environmental characteristics described above are representative of the knowledge, skills, ability, and physical elements necessary for the position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.