Cost Accountant Job Description
Cost accountant
provides accounting services for current transactions in accordance with US GAAP, all tax and accounting regulations.
Cost Accountant Duties & Responsibilities
To write an effective cost accountant job description, begin by listing detailed duties, responsibilities and expectations. We have included cost accountant job description templates that you can modify and use.
Sample responsibilities for this position include:
Drive the monthly close & cost accounting process of the product cost of the business
Performs maintenance of the ERP system to support accumulation of cost accounting data
Maintain controls in accordance with GAAP and company policies
Follow GAAP procedures
Handle all cost accounting responsibilities
Prepare journal entries, schedules and analysis in accordance with GAAP
Participation in the Management Accounting month end close process
Finance SME for the Cork Value Improvement Programme (VIP) responsible for reporting on monthly SIP's both internally and externally
Play an active role in identifying, supporting and reporting new VIP's
Calculation of the monthly Operation Charge to R&D Projects and the reporting of same
Cost Accountant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Cost Accountant
List any licenses or certifications required by the position: CPA, CMA, CIMA, ACCA, CIA, FA, B.S, SOX, APICS, MBA
Education for Cost Accountant
Typically a job would require a certain level of education.
Employers hiring for the cost accountant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Accounting, Finance, Education, Business, Manufacturing, Business/Administration, MBA, Performance, Communication, Economics
Skills for Cost Accountant
Desired skills for cost accountant include:
Excel
SAP
GAAP
Accounting principles
Generally Accepted Accounting Principles
US GAAP
Cost accounting
ERP systems
Oracle
Desired experience for cost accountant includes:
Performing processing and analysis of weekly physical inventory
Managing issues with defective inventory (materials/packaging)
Monitoring of inventory quantities on hand and order deliveries
Tracking of all related materials data including COA, MSDS
Product costing for new products and maintenance of existing product costing
Serving as backup for multiple functions including processing of weekly payroll
Cost Accountant Examples
1
Cost Accountant Job Description
Job Description Example
Our company is looking for a cost accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cost accountant
- Support the finance planning team by providing a deep financial and business insight on related cost drivers
- Be responsible for financial oversight of revenue forecasting models
- Monitor manufacturing costs and data, purchase price variances, production variances and inventory budgeting/reporting
- Work with the Operations department to establish and maintain standard costs
- Establishing costing standards
- Establishing cost reduction activities for the plant
- Working with capital expenditures
- Explaining variance analysis
- Oversee annual inventories
- Communicating financial results
Qualifications for cost accountant
- Bachelor’s degree in accounting or substantial completion towards degree
- Technical skills in account reconciliation, cost analysis and month-end close responsibilities
- Financial analysis, budgeting and income statement experience highly desired
- Able to work with Bill of Materials
- 3+ years of accounting/finance experience, or 5+ years experience in manufacturing environment
- 25% travel to 2 plants
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Cost Accountant Job Description
Job Description Example
Our growing company is looking to fill the role of cost accountant. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for cost accountant
- Monitor inventory transactions and processes
- Plans study of and collects data from the ERP system and other sources to determine costs of business activities such as manufactured products and goods, labor and overheads
- Analyzes actual manufacturing costs and prepares periodic reports comparing standard costs to actual production costs and changes in standard costs
- Records and reports cost information for use in controlling expenditures, conducting audits as necessary
- Compiles cost information to be used in both capital and operating budget preparation
- Provides management with reports summarizing profitability of products and services
- Assists in physical inventory and operational audits for multiple locations
- Work closely with Inventory Department managers to coordinate Raw materials, Finished Goods and Maintenance parts physical inventory
- Assisting in the preparation of monthly consolidated financial statements Income statement, Balance Sheet, Cash Flow statements and footnotes to the financial statements
- Complete General Ledger month-end closing activities
Qualifications for cost accountant
- Minimum of 2 years of previous accounting experience, preferably in a manufacturing environment required
- 1-4 years of relevant accounting experience (cost accounting preferred)
- CPA or on track preferred
- Government accounting experience is a plus (FAR, CAS, DCAA)
- Large ERP experience required
- Ability to read, analyze, and interpret simple instructions, technical procedures, short correspondence, and governmental regulations
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Cost Accountant Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of cost accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cost accountant
- Contribute to activity target setting processes and move to Activity Based Management as a core principle
- Maintain up to date process documentation
- Analyze and prepare freight transactions
- Create and review the controls needed for data accumulation and reporting systems finish goods
- Report on break-even points by products, work centers, and factories
- Report on margins by product and division
- Ensure reports are in compliance with governmental reporting requirements, federal, state, local
- Identifies costs by studying models and materials lists
- Maintains perpetual inventory
- Reports financial analysis for inventory sales, cost of sales and job profitability, labor analysis
Qualifications for cost accountant
- Advanced Excel skills, including pivot tables, macros, graphs, vlookups
- Must be detailed oriented person able to work efficiently and accurately, highly proficient in Microsoft Excel
- SAP/AS400 is a plus
- Basic knowledge in Accounting, Analysis
- Minimum of 4 years’ experience in Cost Accounting and/or Accounting required
- Sage Fixed Assets experience preferred
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Cost Accountant Job Description
Job Description Example
Our company is looking for a cost accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cost accountant
- Conducts product line analysis for management review
- Identifies labor costs by studying manufacturing and assembly processes
- Identifies overhead costs by determining manufacturing and assembly processes and procedures
- Maintains databases by adding new materials
- Maintain accounting journals, reviewing and posting journal entries, account reconciliations, and fixed asset accounting
- Perform physical inventory counts and prepare roll forwards
- Responsible for analyzing data, inventory supervision, standard cost models
- Monitor and maintain standard and inventory costs in the systems, including to developing, supporting and providing analysis for the standard cost
- Analyze manufacturing financial data, analyze and explain variances and support management decision processes
- Work closely with team members to develop and support the analysis of cost of goods, margins, purchase price and production variances and other associated operating costs
Qualifications for cost accountant
- BAAN or other ERP system experience preferred
- Previous experience working within the Consumer Products industry
- Four year college degree with a major in Accounting or Finance
- Assist in coordinating and conducting the physical inventory count and periodic cycle counts, including reconciling differences and making financial and inventory adjustments
- Monitor inventory levels and work with key members of management to analyze inventory levels and prepare the excess and obsolete (E&O) Inventory reserves (along with all required support)
- Work closely with Operations and Procurement teams to improve inventory management and processes (as needed)
5
Cost Accountant Job Description
Job Description Example
Our growing company is looking to fill the role of cost accountant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for cost accountant
- Establish and maintain Standard Operating Procedures/Processes for the tasks performed and ensure continuous efficient improvement
- Assist in ad-hoc financial planning, forecasting and other management reporting functions
- Establish standards including overhead rates and labor rates
- Conduct physical count of inventories and monitor cycle count program
- Prepare SOX controls and process documents to ensure adherence of internal controls and ensure process integrity within Cost/Inventory
- Lead role in conducting physical inventories
- Audit point of contact
- Monthly reporting for operating/production costs, inventory record accuracy, material balance
- Ensure all relevant Company requirements are complied with locally
- Performing all aspects of inventory accounting including close and inventory count
Qualifications for cost accountant
- Cost experience a must
- Bachelor in Accounting/Finance or related business field
- Three-Five years of costing experience good communication skills
- Minimum of five years experience performing financial analysis in a manufacturing environment, with at least three years working in cost accounting
- Solid understanding of standard costing principles is required
- An individual with a strong ability to multi-task, prioritize, and work to a timeline