Job Description:
Job Title: Cost Accountant
Job Summary:
We are seeking a highly organized and detail-oriented Cost Accountant to join our finance team. The Cost Accountant will be responsible for analyzing and managing cost-related financial activities, including cost allocation, budgeting, forecasting, and preparing cost reports. This role will support decision-making by providing accurate and timely cost data to ensure profitability and financial efficiency.
Key Responsibilities:
- Cost Analysis: Analyze and allocate direct and indirect costs, identify cost trends, and ensure accurate reporting of manufacturing costs.
- Cost Reporting: Prepare cost reports and financial statements to evaluate and track production costs, including cost of goods sold (COGS).
- Budgeting & Forecasting: Assist in the preparation of annual budgets and forecasts, providing analysis of cost projections and variance analysis.
- Inventory Management: Monitor inventory levels, including raw materials, work in progress, and finished goods, to ensure accurate costing and valuation.
- Standard Costing: Implement and maintain standard costing systems, conduct regular cost audits, and investigate discrepancies in cost allocations.
- Financial Analysis: Provide financial analysis on cost-saving opportunities, potential inefficiencies, and product pricing strategies.
- Internal Controls: Ensure compliance with internal accounting policies, procedures, and industry regulations.
- Collaboration: Work closely with other departments, such as production, procurement, and sales, to understand cost drivers and provide financial insights for business decisions.
- Cost Optimization: Identify opportunities for cost reduction, process improvement, and operational efficiencies.
- Month-End Close: Assist with month-end closing procedures and reconciliations related to cost of goods sold, inventory, and other cost accounts.
Requirements:
- Bachelors degree in Accounting, Finance, or related field.
- 3 -5 years of experience in cost accounting or a related financial role.
- Strong knowledge of cost accounting principles, cost structures, and inventory management.
- Proficiency in accounting software ( SAP, Oracle, QuickBooks) and Microsoft Excel.
- Excellent analytical and problem-solving skills.
- Strong attention to detail and accuracy in financial reporting.
- Ability to work independently and as part of a team.
- Effective communication skills for presenting financial information to management.
Preferred Qualifications:
- Certified Management Accountant (CMA) or equivalent professional certification.
- Experience with manufacturing cost accounting.
- Knowledge of ERP systems and advanced financial reporting tools.