Senior Cost Accountant
3 weeks ago
Job Location
Chicago/Merrillville - Merrillville, IN
Description
The Senior Cost Accountant will play a key role in analyzing and managing the cost accounting process. This position will be responsible for ensuring accurate inventory records and product costing, analyzing cost variances, and providing insight to support strategic decision making. This role will report directly to the Associate Director - Controller.
Primary Responsibilities
- Serve as an expert on cost accounting and inventory accounting issues and related standard processes and procedures.
- Review, analyze, update, and validate standard costs including bill of materials.
- Support forecasting and budgeting processes by developing standard costs and preparing accurate cost forecasts, while providing valuable insights into the cost projections.
- Analyze material usage variances, purchase price variances, scrap and inventory evaluation actual vs. forecast in support of month-end closing activities. Identify root causes of variances and recommend corrective actions.
- Analyze and explain labor and OH variances actual to standard. Partner with Accounting Manager to develop and enhance labor reports from payroll processing system.
- Maintain product cost master data, including BOM and Routings, Cost Dimensions, and Cost structure in SAGE X3.
- Conduct process reviews to identify improvements to enhance the quality of product costing and financial reporting. Lead the implementation of improvements identified through this process.
- Investigate cycle count variances and resolve inventory adjustments.
- Calculate and maintain inventory reserves in accordance with company policy.
- Participate in month-end and year-end close activities, including journal entries and account reconciliations, related to cost accounting and inventory management.
- Prepare required workpapers and documentation, mainly related to inventory and costing, for quarterly and annual audits and financial reporting as well as for internal control reviews (JSox) and tax workpapers.
- Handle other analysis or ad hoc projects as assigned.
- Bachelor's degree preferred with a field of study in Finance, Accounting, or related field.
- Five to seven years of experience in Cost Accounting. CMA, CPA, or MBA preferred.
- Proven understanding of absorption costing and variable vs. fixed expense analysis.
- Strong technical and financial analysis and modeling skills with ability to present findings in a clear and concise manner.
- Thorough knowledge of accounting principles.
- Comprehensive systems and ERP experience; SQL and/or Sage X3 experience a big plus.
- Exceptional proficiency in Microsoft Excel.
- Experience interfacing with individuals at all levels within an organization.
Physical Location: Hybrid, Merrillville, Portage (Duneland) and/or Chicago office
Work Schedule: Full Time, Monday - Friday
Closing
The above statements are intended to describe the general nature and level of the work being performed by employees assigned to this position. This is not intended as an exhaustive list of all responsibilities, duties, and skills required. MonoSol, LLC reserves the right to make changes to the job description whenever necessary.
Disclaimer
As part of MonoSol, LLC's employment process, finalist candidates will be required to complete a physical drug/alcohol test and background check prior to employment commencing. MonoSol, LLC is an equal opportunity employer. All qualified applicants will be considered without regard to race, national origin, gender, age, disability, sexual orientation, veteran status, or marital status.
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