Cost Accounting Job Description
Cost accounting
provides US GAAP accounting guidance and support to teams, collaborating with Technical Accounting and others, and assist in the preparation and/or review of technical accounting memos.
Cost Accounting Duties & Responsibilities
To write an effective cost accounting job description, begin by listing detailed duties, responsibilities and expectations. We have included cost accounting job description templates that you can modify and use.
Sample responsibilities for this position include:
Management of company product cost accounting activities
Provide strategic leadership in our pricing efforts, including change orders and RFPs, in a manner which ensures that our operational approach is accurately reflected in our pricing
Managing the Cost Accounting Department and staff of six eight
Oversee Cost Accounting team supporting all ODAS brands
Oversee company cost accounting, accounts payable, accounts receivable, financial analysis and reporting, credit and collections
Prepare or review monthly journal entries consistent with US GAAP principals and SOX compliance
Manage world-wide standard product costs for repair and refurbishment inventory
Global P&L management of purchase price variance and product cost changes for repair and refurbishment operations
Oversee monthly, quarterly, and annual SAP closing to ensure closing happens accurately and in a timely manner
Create, maintain and ensure compliance with cost accounting policies and procedures
Cost Accounting Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Cost Accounting
List any licenses or certifications required by the position: CPA, CMA, SOX, APICS, CECRL, B2, SAP, FRM, PMP, CAIA
Education for Cost Accounting
Typically a job would require a certain level of education.
Employers hiring for the cost accounting job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Finance, Business, MBA, Business/Administration, Education, Manufacturing, Economics, Management, Finance/Accounting
Skills for Cost Accounting
Desired skills for cost accounting include:
SAP
US GAAP
Bayer Group accounting and reporting requirements
Excel
GAAP
Pricing
German
Product
Accounting principles
Cost accounting
Desired experience for cost accounting includes:
CMA/CPA HIGHLY Preferred
BA or BS in Accounting with at least 4 years of experience in a Manufacturing environment
BA in Accounting with at least 4 years of experience in a Manufacturing environment and at least 1 year at the supervisory or management level
Five years of manufacturing accounting
Continuous process improvement (balance sheet risk, spending )
A minimum of five years of experience within a manufacturing environment
Cost Accounting Examples
1
Cost Accounting Job Description
Job Description Example
Our company is looking to fill the role of cost accounting. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for cost accounting
- Partner with New Product Development to generate reliable cost data
- Impact on Business – describe the value added of the role to the business
- Responsible for processing Freight carrier invoices utilizing In-Tune Services and website and SAPFI
- Responsible for processing some domestic inventory including the compilation of FOB and commission vendor invoices
- Maintaining freight matrix and cost models
- Calculating average inventory costs by divisions and component costs that make up total inventory costs
- Performing quarterly inventory valuation test and monthly testing when required
- Audit freight and duty bills
- Manage activities and professional staff work related to the preparation of rate studies and related analyses and reports
- Define and maintain the rate information system including data to be retained, processes to be performed, and information to be shared with auditors/negotiators, and report preparation
Qualifications for cost accounting
- Serve as a liaison and maintain official files related to external audits
- Provide senior management with recommendations on policy formulation and education on issues such as internal controls, rate development/reporting, and audit issues
- Prepare and maintain fringe benefit rate studies
- Develop and maintain policies and procedures, annual certifications, and documentation for bond financing based on space utilization
- Manage and document fiscal year-end closing analysis and journal entries in coordination with the Budget Office and Controller
- Bachelors degree in Business with major in Accounting/Finance
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Cost Accounting Job Description
Job Description Example
Our company is searching for experienced candidates for the position of cost accounting. 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 accounting
- Performing periodic inventory or cost analysis to support new product development or production planning requirements
- Maintain product standard costs
- Assists with forecasting project costs for company-wide new product initiatives
- Assist with coordinating and executing an adequate plan for the control of operations specific to cost accounting
- Organize and direct systems and procedures to ensure accurate and timely completion of accounting reports including monthly, quarterly, and year end closes
- Prepare or review inventory market analysis
- Validate accuracy of inventory balances and costs in all systems
- Serve as a liaison between the tax department for sales & use, property, and other local tax returns as applicable
- Responsible for monitoring all inbound freight transactions including ship mode
- Provide accounting guidance to team and Business Finance partners
Qualifications for cost accounting
- CPA, MBA or MS in accounting highly preferred
- Identify and implement process improvements at the department level (e.g., efficiencies gained by aligning work streams)
- Lead the resolution of complex issues and ensure timely communication of issues to key stakeholders
- Directly manage a team of direct reports, including mentoring and development
- Support regulatory and other external requests for information regarding the cost model
- Provide guidance to direct reports in the process of researching and resolving issues
3
Cost Accounting Job Description
Job Description Example
Our company is growing rapidly and is hiring for a cost accounting. 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 accounting
- Perform quarterly standard cost evaluation for all hardware product streams and propose revaluations as appropriate
- Perform analysis of product and project cost including material variances and labor efficiencies
- Oversee processes, procedures and controls as related to cost accounting
- Manage, train and develop cost accounting staff
- Other general and cost accounting responsibilities and special projects as required
- Responsible for site operations budget
- Responsible for small manufacturing plant budget
- Performs periodic slow and obsolete inventory reviews
- Controls MDN Processing
- Coordinates Semi-Annual Physical Inventories
Qualifications for cost accounting
- BA/BS in Accounting, Finance, Economics or Engineering
- Requires a minimum of four years of relevant work experience, including supervisory and project experience
- CPA or relevant accounting background
- Excellent writing skills with a focus on clear communication of complex topics
- Entrants to this position require 6 years of experience in engineering, procurement and construction projects or operating industrial facilities in a cost control position including some field experience required with 2+ years preferred
- Reviews all warranty and royalty accounts
4
Cost Accounting Job Description
Job Description Example
Our company is looking for a cost accounting. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cost accounting
- Supervises the daily cost accounting functions for the Modesto Facility, which includes supervising and evaluating the full -- time and seasonal Cost Accounting staff
- Manage the cost accounting staff
- Manage the day-to-day and month-end activities of the Cost Accounting team to ensure the preparation of timely, accurate and meaningful financial information
- A key part of the role is to identify and recommend to the Manager process improvement opportunities that increase the efficiency and effectiveness of the Cost Accounting Team
- Assists in divisional strategic plan
- Coordinates Annual Budget Process
- VF Outdoor is a growing facility in Appleton
- Oversee management of AP16 monthly flash for all business units in the plant
- Work with Operations management to develop meaningful and accurate Plans and Latest Best Estimates (LBE)
- Assist Plant Controller with completion of major financial cycles (Standards, Plan, Update, and LBE)
Qualifications for cost accounting
- Designing and Implementing Cost and Profitability solutions
- Interacting with Senior Executives and Business Leaders, including the CFO
- Financial Services and/or Technology Services industries
- Strong Finance/Accounting acumen and interaction with ERP systems (Oracle GL or similar)
- SAS ABM, Oracle HPCM
- Oracle Cost Management
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Cost Accounting Job Description
Job Description Example
Our company is looking for a cost accounting. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cost accounting
- Supervise customer contract billing and daily vessel cost accounting
- Responsible for directly overseeing and driving the Annual Planning Process as it relates to developing product costs for the AOP
- Oversee the development of annual manufacturing costs
- Develop year-to-year cost change analysis and present to management
- Serve as primary point of contact for all audit requests (external and internal) and periodic inventory counts
- Maintain internal controls and reconciliations to ensure appropriate inventory valuation and safeguards
- Ensure adequacy and support of inventory reserves
- Manage one exempt employee
- Supervises and develops the Assistant Job Cost Supervisor(s), Staff Accountants, and Accountants
- Reviews and approves timesheets
Qualifications for cost accounting
- Experience with month end close and balance sheet reconciliations
- A sufficient understanding and knowledge of IT technology and Microsoft products is preferred
- Ability to manage complexity well and demonstrated experience managing across functions and businesses to accomplish large scale goals in a large, multi-national public company environment
- Excellent written and verbal communications, presentation and influencing skills, including the ability to raise issues appropriately to the right level internally and with corporate office to resolve
- Inquisitive individual that thinks globally and has the ability to apply sound judgment based on US GAAP and fundamental finance concepts
- Minimum of 3 years relevant experience in an accounting role, particularly inventory accounting