Senior Cost Accountant

3 weeks ago

Philadelphia, United States firstPRO, Inc Full time

Job Title: Senior Cost Accountant


Overview: We are seeking a highly skilled and experienced Senior Cost Accountant to join our finance team. The Senior Cost Accountant will be responsible for analyzing manufacturing costs, identifying areas for cost reduction, and providing insights to support strategic decision-making. This role offers the opportunity to work cross-functionally, collaborate with operations teams, and play a key role in driving financial performance and profitability.


Responsibilities:


Cost Analysis and Reporting:

  • Analyze manufacturing costs, including raw materials, labor, and overhead, to identify cost drivers and variances.
  • Prepare and review cost reports, variance analyses, and other financial reports to provide insights into manufacturing performance.
  • Partner with operations teams to understand production processes and identify opportunities for cost optimization.


Inventory Management:

  • Oversee the valuation and reconciliation of inventory, ensuring accuracy and compliance with accounting standards.
  • Monitor inventory levels and analyze inventory turnover to optimize inventory management practices.
  • Collaborate with supply chain and procurement teams to improve inventory control and reduce carrying costs.


Standard Costing and Budgeting:

  • Establish and maintain standard costs for materials, labor, and overhead, ensuring alignment with production processes and market conditions.
  • Assist in the development of annual budgets and forecasts, providing input on manufacturing costs and production volumes.
  • Analyze variances between standard costs and actual costs and investigate discrepancies as needed.


Process Improvement and Efficiency Enhancement:

  • Identify opportunities to improve manufacturing processes and reduce costs through process optimization and efficiency enhancements.
  • Implement cost-saving initiatives and monitor their impact on financial performance.
  • Collaborate with cross-functional teams to implement best practices and drive continuous improvement.


Financial Analysis and Decision Support:

  • Provide financial analysis and decision support to operations and finance teams, including cost-benefit analysis and investment appraisal.
  • Evaluate the financial impact of proposed changes to production processes, product designs, and sourcing strategies.
  • Collaborate with management to develop and implement strategies to improve profitability and competitive positioning.


Qualifications:

  • Bachelor's degree in Accounting, Finance, or related field; CPA or CMA certification preferred.
  • Minimum of 5 years of experience in cost accounting or related field, preferably in a manufacturing environment.
  • Strong understanding of cost accounting principles, including standard costing, variance analysis, and inventory management.
  • Proficiency in ERP systems and financial software applications; experience with SAP or Oracle preferred.
  • Excellent analytical and problem-solving skills, with the ability to interpret complex financial data and draw meaningful conclusions.
  • Strong communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
  • Detail-oriented with a focus on accuracy and precision in financial reporting and analysis.
  • Proven ability to drive process improvements and implement cost-saving initiatives.
  • Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.

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