Job Description
Job Description
The Senior Cost Accountant is responsible for leading cost accounting operations within a multi-site manufacturing environment. This position plays a critical role in inventory valuation, standard costing, cost of goods sold analysis, labor and overhead allocation, cost roll ups and capital expenditure justification & tracking. The Senior Cost Accountant will partner closely with operations, supply chain, and plant leadership to ensure accurate product costing, improve gross margins, and drive financial performance. This is an on-site role supporting multiple manufacturing locations.
ESSENTIAL DUTIES & RESPONSIBILITIES:
COST ACCOUNTING
- Manage and maintain standard costing systems, including material, labor, and overhead allocation methodologies.
- Perform cost roll ups, bill of materials analysis, and routing reviews to maintain accurate product costing structures for over 5,000 individual SKU’s.
- Analyze cost of goods sold, manufacturing variances, purchase price variances, and production variances.
- Review and update standard costs, labor rates, and overhead rates to reflect operational changes.
- Track, analyze and reconcile job costing of major tooling projects
- Become a subject matter expert on production reporting processes to better understand their correlation and impact to the financial results.
INVENTORY CONTROL
- Oversee inventory accounting for raw materials, work in process, and finished goods, ensuring accurate inventory valuation.
- Lead monthly, quarterly, and annual inventory reconciliations and support physical inventory counts.
- Analyze slow moving and/or obsolete inventory & prepare reserves accordingly.
- Monitor the cycle count program – if weaknesses are noted, make suggestions as needed.
FIXED ASSETS
- Maintain the company’s fixed asset records ensuring that additions & disposals are accounted for accurately and timely.
- Ensure that depreciation schedules are accurate and consistent with assigned useful lives
- Maintain the company’s capex approval models and collaborate with requestors to draft justifications that include ROI, IRR & Payback analysis.
SALES & MARGIN ANALYSIS
- Analyze cost of product sales (margin analysis), investigate unusual items, and recommend changes in BOMs, or potential for margin improvements (i.e., need for price increases)
- Assist Sales department with pricing reviews and product costing inquiries.
BUSINESS SYSTEMS
- Become a power user of the ERP system as it relates to product costing, BOM & routing structures, variance reporting, project accounting, production reporting and general ledger.
- Become a power user of ERP reporting including an in-depth knowledge existing reports as it relates to databases, parameter settings, formulas & calculations, etc.
- Become a “go to” source for developing BI analytics & reporting for both the ERP system and other third party software.
GENERAL ACCOUNTING
- Prepare and post journal entries
- Analyze and reconcile accounts
- Month end closing & analysis
- Assist in the completion of annual budgets & periodic forecasting
- Assist with annual audits and tax returns
CONTINUOUS IMPROVEMENT
- Identify continuous improvement opportunities in both accounting and non-accounting processes.
- Be prepared to lead and/or be an active participant on continuous improvement projects
- Be a resource to CI project leads to calculate and validate cost savings opportunities
- Promote & utilize CI & Problem solving techniques including LEAN & Six Sigma
QUALIFICATIONS (KNOWLEDGE, SKILLS & ABILITIES):
- Bachelors or Associates Degree in Accounting
- Experience working in a manufacturing environment
- General accounting experience including processing journal entries, account accruals & reconciliations, month end closing, annual budgets, etc.
- Manufacturing accounting experience (Std Costing, Mfg Variances, Inventory Control, Fixed Assets)
- Experience using an ERP system that integrates production with accounting; IQMS experience a plus
- Power user of Excel and other report writing software
- Experience working in a continuous improvement environment that utilizes LEAN/Six Sigma concepts; OR has a desire to learn and apply these concepts.
- Excellent written & verbal communicator with cross functional teams & colleagues
- Analytical thinker with demonstrated problem-solving skills and attention to detail
- Ability to work independently and as part of a team.