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Job Title: Cost Accountant
Industry: Manufacturing
Reports To: Finance Manager / Controller / Plant Manager
Job Summary:
The Cost Accountant is responsible for planning, analyzing, and reporting on all cost-related data to support management in controlling manufacturing expenses and improving profitability. This role ensures accurate product costing, monitors production efficiency, and provides insights into cost trends and variances across materials, labor, and overhead.
Key Responsibilities:
- Cost Analysis & Reporting
- Develop and maintain standard costing systems for materials, labor, and overhead.
- Analyze manufacturing costs and prepare regular reports comparing standard costs to actual production costs.
- Identify and explain variances between actual and standard costs, including material usage, labor efficiency, and overhead absorption.
- Support management with cost data for budgeting, forecasting, and decision-making.
- Inventory & Production Accounting
- Monitor and reconcile inventory transactions, including raw materials, work-in-progress, and finished goods.
- Conduct periodic inventory audits and coordinate physical counts.
- Ensure accurate valuation of inventory and cost of goods sold (COGS).
- Process Improvement
- Evaluate production processes to identify cost-saving opportunities and efficiency improvements.
- Work with operations, procurement, and engineering teams to understand cost drivers and suggest process optimizations.
- Budgeting & Forecasting
- Assist in developing annual budgets and quarterly forecasts for manufacturing costs.
- Track and report on cost trends to ensure alignment with financial goals.
- Compliance & Internal Controls
- Ensure all cost accounting records comply with company policies, GAAP/IFRS, and internal control standards.
- Support external and internal audits related to cost and inventory accounting.
Qualifications:
- Education: Bachelor’s degree in Accounting, Finance, or a related field (CPA, CMA, or equivalent certification preferred).
- Experience: 2-5+ years of cost accounting experience in a manufacturing environment.
- Skills:
- Strong analytical and problem-solving abilities.
- Proficiency in ERP systems (e.g., SAP, Oracle, or similar).
- Advanced Excel skills.
- Understanding of standard costing, variance analysis, and manufacturing processes.
- Strong communication skills for cross-departmental collaboration.
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