Job Description
COST ACCOUNTANT POSITION SUMMARY: Assists to establish financial policies, procedures, controls, and reporting systems. To assist in preparing financial statements, budgets, pricing, and cost accounting.
COST ACCOUNTANT ESSENTIAL DUTIES AND FUNCTIONS: Cost Accounting Primary Functions: - Establish standard costs for products by planning and collecting data of business activities such as raw material purchases, inventory, freight, and labor.
- Build labor/overhead rates.
- Analyze the collected data and record results.
- Analyze changes in product design, raw materials, and manufacturing methods to determine effects on cost.
- Analyze actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs.
- Provide management reports specifying and comparing factors affecting prices and profitability of products.
- Maintain Cost Accounting System.
- Conduct physical inventories and monitor cycle count program.
- Reconcile finished goods inventories.
- Perform inventory analysis to properly state inventory values.
- Maintain and update Fixed Assets and related databases.
- Working knowledge of foreign currency exchange accounting.
- Determine costs of business activity such as raw material purchases, inventory, and labor.
- Month end close of the General Ledger.
General Accounting Support Functions: - Assist in weekly, monthly, and annual close of the General Ledger including assisting in preparation of internal statements and reports.
- Assist in preparing budgets, maintaining account balances, managing files, reconciling accounts, producing information for audits, and understanding GAAP guidelines.
- Ensure necessary internal controls are in place, monitored, and enforced to safeguard company assets.
- Assist accounts payable and accounts receivable as necessary.
- Interface with banks, auditors, and ACO Group companies as necessary.
Other Functions: - Communicate with internal and external sources as needed.
- Follow all company policies and procedures.
COST ACCOUNTANT COMPETENCIES: - Analytical - Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs workflows and procedures.
- Ethics - Treats people with respect; Keeps commitments; inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
- Written and Oral Communication - Speaks clearly and persuasively in positive or negative situations; Listens and gets clarification; Responds well to questions; Demonstrates group presentation skills; Participates in meetings. Writes clearly and informatively; Edits work for spelling and grammar; Varies writing style to meet needs; Presents numerical data effectively; Able to read and interpret written information.
- Dependability - Follows instructions, responds to management direction; Takes responsibility for own actions; Keeps commitments; Commits to long hours of work when necessary to reach goals; Completes tasks on time or notifies appropriate person with an alternate plan.
COST ACCOUNTANT EDUCATION and/or EXPERIENCE: - 2-3 years Cost Accounting experience in a manufacturing environment required.
- Experience working with engineering and manufacturing personnel on development and analysis of cost standards required.
- Bachelor's degree in Accounting or Finance required.
COST ACCOUNTANT OTHER SKILLS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the level of knowledge, skill, and/or ability required.
- Ability to accurately prepare daily, weekly, monthly, quarterly, and annual reports.
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
- Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents.
- Excellent verbal and written communication skills.
- Proficient in Microsoft Office Suite and related software as well as accounting software.
- Thorough understanding of accounting procedures.
- Thorough understanding of Generally Accepted Accounting Principles (GAAP).
- Excellent analytical and organizational skills, with close attention to detail.
- Ability to manage confidential information.
COST ACCOUNTANT PHYSICAL DEMANDS AND WORK ENVIRONMENT: - Prolonged periods sitting at a desk and working on a computer.
- Continually required to utilize hand and finger dexterity.
- Frequently required to talk or hear.
- Occasionally required to travel.
COST ACCOUNTANT OTHER DUTIES: The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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