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Cost Accountant

3 months ago

Philadelphia, Pennsylvania, United States 4 Staffing Corp Full time
About the job

Cost Accountant Job Description:
Our client is seeking a detail-oriented and analytical Cost Accountant to join their finance team.

As a Cost Accountant, you will be responsible for analyzing costs, identifying cost-saving opportunities, and providing valuable insights to improve our company's financial performance.

Your expertise in cost analysis, budgeting, and financial reporting will play a crucial role in supporting strategic decision-making and optimizing operational efficiency.


Responsibilities:
Analyze product costs, production expenses, and operational performance to identify areas for cost optimization and process improvement. Develop and maintain cost accounting systems and processes, ensuring accurate and timely recording of costs and expenses. Conduct regular cost variance analysis and provide insights on deviations from budget and forecast. Prepare cost reports and financial statements, highlighting key cost drivers and trends. Collaborate with cross-functional teams to develop and monitor cost standards and cost allocation methodologies. Assist in the preparation of annual budgets, forecasts, and financial plans, providing cost-related inputs and recommendations. Support month-end and year-end closing activities, including reconciling cost accounts and analyzing variances. Perform inventory analysis and reconcile inventory records to ensure accuracy and proper valuation. Participate in the evaluation of product pricing strategies and the development of pricing models. Work closely with operations teams to improve cost accounting processes and ensure accurate product costing. Monitor and assess the effectiveness of cost control measures and provide recommendations for improvement. Assist in internal and external audits related to cost accounting and inventory valuation. Stay up to date with industry trends, regulations, and best practices in cost accounting.

Requirements:
Bachelor's degree in Accounting, Finance, or a related field. CPA or CMA certification is a plus. Proven experience as a Cost Accountant or a similar role, preferably in a manufacturing or production environment. Solid understanding of cost accounting principles, methodologies, and best practices. Proficiency in financial analysis, cost variance analysis, and budgeting. Advanced knowledge of MS Excel and experience with financial software and ERP systems. Strong analytical and problem-solving skills, with the ability to interpret complex financial data. Excellent attention to detail and accuracy in financial calculations and reporting. Ability to work independently and meet deadlines in a fast-paced environment. Strong communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams. Knowledge of inventory management principles and familiarity with inventory valuation methods. Understanding of Generally Accepted Accounting Principles (GAAP) and cost accounting standards. Experience with cost accounting software and tools is a plus.

Preferred Qualifications:
Experience in cost accounting within the manufacturing, retail, or consumer goods industry. Familiarity with Lean Six Sigma or other process improvement methodologies. Knowledge of activity-based costing (ABC) and standard costing techniques. Experience with data analysis and financial modeling. Proficiency in other financial management areas, such as financial planning and analysis (FP&A).