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Cost Accountant

1 month ago

Philadelphia, 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).