Cost Accountant
3 weeks ago
Cost Accountant role is pivotal in ensuring financial efficiency through various responsibilities at our five different manufacturing plants. This includes margin analysis for key customers, updating standard costs, evaluating production locations, and managing inventory standard costs. The role involves preparing labor metrics, flash reports, and ROI analyses, contributing to financial statements, project accounting, budgeting, and financial analysis. This is a hybrid position with a combination of time spent remote, in office and at out of state plant locations.
Essential Functions/Responsibilities:
•Cost Accounting
o Assist in margin analysis for top customers and products
o Review and analyze costs associated with production processes
o Lead plant leadership teams in review and updating of standard costs including:
•Manufacturing standards for scrap, cycle time and machine operators
•Accurate bill of materials
•Freight standards for purchased raw materials and components
o Conduct cost analysis studies to support decision making
•Inventory
o Prepare obsolete/slow moving inventory report and work with plants to reduce excess inventory
o Reconcile consignment inventory balances to ensure items are billed timely
o Investigate inventory variances and work with plants to resolve issues
o Prepare purchase price variance report for all inventory
•Accounts Payable
o Review and process all freight related invoices
•Operations
o Prepare & publish daily and weekly production labor metrics
o Prepare weekly flash reports for plants which is an operating report to provide inter-month data to assist the plant leadership team manage to financial success in between the monthly reports
o Assist in preparing ROI analysis on various continuous improvement projects and then track actual results against the estimates.
•Financial Statement - assist in preparation of monthly financial reports
o Post system transactions to general ledger
o Prepare and post various journal entries
o Prepare account reconciliations for various G/L accounts
o Send out various month end reports to key personnel
o Assist in coordination of the annual audit
•Budgets and Forecasts:
o Actively participate in the annual budget process and monthly Sales and Operational Planning (S&OP) process.
•Other related finance and accounting activities
- Routine financial analysis and special projects as led and directed by the Plant Controllers
- Knowledge of finance, accounting, and control principles including Generally Accepted Accounting Principles (GAAP)
- Thorough understanding of cost accounting principles and procedures.
- Strong analytical and problem-solving skills
- Strong attention to detail and accuracy
- Good knowledge and understanding of various accounting software:
- ERP systems
- Microsoft office software
- Adaptive Insights Financial Planning Software
- Good inter-personal and communications skills
- Education: Bachelor Degree in Accounting
- Relevant working experience (2-3 years) in a manufacturing environment is preferred
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