Overall Purpose of Position
The Cost Accountant is responsible for the ongoing analysis of inventory, costs associated with production, margin analysis and tracing costs back to underlying activities. The Cost Accountant must be able to construct and monitor cost-effective data accumulation systems and to develop a meaningful and comprehensive reporting package to provide current and accurate information to management in order to make solid business decisions related to production, inventory management and pricing of our products.
- Accountable for the ongoing analysis of inventory, production costs, margin and tracing costs back to underlying activities and drivers.
- Constructs and monitors cost-effective data accumulation systems.
- Develops and reviews the controls needed for data accumulation and reporting systems.
- Develops and maintains absorption rates by plant and work center including labor costs and overhead.
- Coordinates physical inventory counts and cycle counts.
- Investigates cycle counting variances and resolves associated issues.
- Maintains standard costs and reviews standard and actual costs for inaccuracies including variance analysis and treatment of variances in accordance with GAAP.
- Develops meaningful and comprehensive reporting packages to provide current and accurate information to management to support business decisions related to production, inventory management and pricing of our products.
- Assists in general accounting tasks as assigned.
- Performs month end tasks associated with inventory, material costs, margin analysis and plant financial analysis including adjustment, summary schedules and reconciliation.
- Locates, manages and disposes of obsolete inventory.
- Visits plants and performs production walk through to understand manufacturing processes, variances, reporting errors and interpretation of cost build ups.
Desired Skills and Experience
- Associate or Bachelor's degree plus minimum 5 years of manufacturing cost accounting experience.
- Advanced critical thinking and analysis skills required to understand and interpret production costs, margins, process costs and variances.
- Cost build up and estimation skills.
- Extensive problem solving skills.
- Knowledge of and ability to develop a cost accounting system and reporting.
- Knowledge of standard costing and associated rates.
- Ability to work well with varying levels of skills in various departments, especially plant managers, cost estimators, process engineers, IT, production control, scheduling, foremen and other production employees.