Job Description
Job Description
The Cost Accounting Specialist is responsible for preparing product cost statements and investigating products to establish manufacturing costs. This role contributes to budget creation and ensures production costs remain within budget. The Cost Accounting Specialist analyzes the costs of materials, processes, and labor to determine methods for reducing production costs and develops and implements the company's cost control procedures and policies.
Key Responsibilities:
Daily Cost Accounting Operations:
- Maintain and update average costs for materials, labor, and overhead.
- Prepare, analyze, and reconcile cost reports.
- Investigate cost variances and recommend corrections.
- Review Bills of Materials for accuracy.
Inventory Management:
- Track and reconcile inventory transactions.
- Perform inventory reserve analysis and adjustments.
- Monitor and resolve discrepancies between physical inventory and system records.
- Control of SKUs and UOM
- Collaborate with all departments
- Analyze production orders
- Maintain/analyze COGs account
General Accounting Support:
- Maintain general ledger accounts related to cost accounting.
- Support accounts payable processes related to inventory and production costs.
- Bank reconciliations
- Process vendor payments
- Intercompany transactions
Reconciliations & Controls:
- Perform regular reconciliations of inventory sub-ledgers to the general ledger.
- Review and verify product codes and documentation to identify and correct discrepancies.
- Assist with internal controls related to costing and inventory accuracy.
- Reconcile inventory valuation report
Cost Analysis & Reporting:
- Conduct cost-benefit analyses for projects and process changes.
- Analyze production and operational performance indicators.
- Provide detailed cost data to management for budgeting and decision-making.
- Developing system controls for ensuring data integrity
Process Improvement:
- Recommend improvements to inventory and cost accounting procedures.
- Participate in the implementation and maintenance of cost accounting systems.
- Developing proper operational, data documentation and troubleshooting procedures
Required Skills & Qualifications:
- Bachelor’s degree in Accounting, Finance, or related field.
- Minimum 5 years of hands-on cost accounting experience, ideally in manufacturing.
- Strong knowledge of cost accounting principles and inventory management.
- Proficiency in accounting software and ERP systems Microsoft Dynamics Navision
- Advanced Excel skills and strong attention to detail.
- Excellent organizational and problem-solving abilities.
- Strong written and verbal communication skills.
Company DescriptionBe a part of a dynamic and rapidly growing company. With a reputation for innovation, COPAN is the leading manufacturer of collection and transport systems in the world. COPAN’s collaborative approach to innovation in pre-analytics has resulted in the original FLOQSwabs, ESwab, FecalSwab, and UTM, as well as Full Laboratory Automation. COPAN’s collection and systems have been proven to advance the quality of traditional and contemporary microbiology assays. COPAN's automation includes specimen processing, smart incubation, digital imaging, and strong algorithms for the automatic segregation of bacterial cultures, followed by automated colony picking.
Company Description
Be a part of a dynamic and rapidly growing company. With a reputation for innovation, COPAN is the leading manufacturer of collection and transport systems in the world. COPAN’s collaborative approach to innovation in pre-analytics has resulted in the original FLOQSwabs, ESwab, FecalSwab, and UTM, as well as Full Laboratory Automation. COPAN’s collection and systems have been proven to advance the quality of traditional and contemporary microbiology assays. COPAN's automation includes specimen processing, smart incubation, digital imaging, and strong algorithms for the automatic segregation of bacterial cultures, followed by automated colony picking.