Cost Accounting Manager

Summary: The Cost Accounting Manager is responsible for creating and maintaining accurate process cost information, comparing standard costs to actual costs, managing perpetual inventory system, and participating in the month-end close and budgeting process. Additionally, they will develop and maintain a cost accounting system to reduce costs and improve profitability. This role requires an experienced professional in manufacturing and cost accounting to collaborate with various departments such as procurement, production, inventory control, and IT to establish best-in-class manufacturing cost accounting, reporting, and operational practices. Essential Duties/Responsibilities: Manage cost accounting, including product costing, cost analysis, internal controls, and inventory reporting. Ensure accurate inventory valuation on the balance sheet and establish required reserves. Identify and implement improvements in inventory control and costing processes to enhance efficiency, accuracy, and internal controls. Serve as the organization's expert on cost accounting, inventory control issues, and related standard processes and procedures. Collaborate with the controller organization to manage, reconcile, and facilitate the month-end accounting close, ensuring accurate monthly reports and improving closing process efficiency. Coordinate, conduct, and assess annual physical inventory, cost revaluation, and cost accounting financial audit. Develop and monitor the cycle count program, review adjustments, investigate root causes, and work with relevant functions to develop control plans. Lead the annual standard-setting process and establish processes and criteria for standards setting and new product setup. Develop and monitor inactive, obsolete, surplus inventory to ensure proper reservation and disposal. Work with the operations team to define Key Performance Metrics (KPI) and issue regular performance reports. Develop and implement inventory management strategies to ensure optimal levels and minimize carrying costs. Collaborate with engineering, procurement, and operations teams to identify cost-saving opportunities and efficiency improvements. Work closely with Pricing to ensure accurate product costs and rates for accurate pricing. Provide functional support for strategic initiatives within the Supply Chain organization. Lead or participate in cross-functional teams to ensure continuous process, methods, productivity, and quality improvements while reducing costs. Provide leadership and guidance to the cost accounting team, fostering continuous learning and improvement (future responsibility) Perform other assigned duties Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions. Education/Experience: A Bachelor's degree in Accounting, Finance, or a related field is required. An advanced degree or professional certification such as CPA, CMA, or APICS is highly desirable. Minimum of 10 years of experience in cost accounting, including 5 years in a senior cost accounting role. Proficient in monthly reporting, inventory management, annual budgeting, and financial analysis. Strong knowledge of cost accounting principles and practices, as well as financial regulations and standards. Excellent analytical skills, able to analyze complex financial data and provide meaningful insights into product cost and profitability. Proficiency in SAP costing methodologies. Certificates, Licenses, Registrations: Familiarity or certification in Six Sigma/Continuous Improvement methodology preferred Language Skills: Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals Ability to write routine reports and correspondence Ability to speak effectively before groups of customers or employees of the organization Salary Range : $110,000 - $130,000

Created: 2024-11-05