Job Details

SUMMARY:

Cost Account works with Controller to maintain the financial records of the Company. All duties should be carried out with an overall emphasis on accuracy, expediency, and confidentiality. The accounting department will provide service to the sales, production, and other operating departments of the Company.

ESSENTIAL DUTIES & RESPONSIBILITIES

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The qualifications listed below are representative of the knowledge, skill, and/or ability required to perform the role safely and successfully. The work environment and physical demands listed represent those encountered by individuals while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Plan, study and collect data via manufacturing database, general ledger system and observation to determine costs of business activity, such as raw material purchases, inventory, overhead and labor, and record the results.
• Conduct physical inventory, investigate variances, reconcile and cost inventories (re-costing as needed) then making corresponding general ledger entries. Reconcile general ledger account balances with inventory reporting.
• Analyze collected data to determine standard costs.
• Reconcile monthly purchases to general ledger to ensure timeliness and accuracy and prepare journal entries for accruals and variances.
• Analysis of actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs.
• Review accounts payable documents when reconciling subledgers to the general ledger for the following: matching of invoice amounts, terms and prices to receivers and PO's; monitoring duplicate payments, periodic cost recognition, etc.
• Develop and record monthly cost accounting entries including cost accruals/deferrals, inventory usage and variance entries to develop Gross Profit reports for each department.
• Perform period-end and year-end account closing activities and reconciliations. Perform final accounting analysis/review in preparation of publication of financial statements.
• With the Controller, coordinate and facilitate statements as well as departmental and total gross profit reports, and publish monthly and year-to-date financial statements.
• Analyze customer accounts, prepare a Top 20 Customer report for the current period and year-to-date, as well as prior periods.
• Analyze cost of sales and recorded sales.
• Analyze customer sales for accuracy and discrepancies in product classification. Make database corrections when needed. Calculate customer rebates as needed.
• Adhere to standard accounting principles and company procedures.
• Perform various reporting and other duties as assigned.

QUALIFICATIONS AND EDUCATION REQUIREMENTS

• Education
  • Bachelor's Degree in Accounting or Finance and at least 2 years of cost accounting experience, preferred in manufacturing
  • General knowledge of manufacturing ERP software a plus
• Language Skills
  • Must be able to read and interpret English language documents such as safety rules, operating and maintenance instructions, company handbook, and procedure manuals.
  • Must be able to speak and write in English effectively when presenting information to supervisors and fellow employees.
  • Must be able to utilize clear, concise, formal business communication
• Mathematical Skills
  • Ability to work with mathematical concepts such as probability statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical solutions
• Reasoning Ability
  • Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Computer Skills
  • Working knowledge of Microsoft Teams, Word, Excel, PowerPoint, general ledger/costing systems, and SQL.

ESSENTIAL PHYSICAL DEMANDS

• While performing the duties required of this position, the employee is frequently required to sit; use hands and fingers, handle or feel; reach with hands and arms; stand, walk, and talk or hear. Specific vision abilities required by his job include close vision, and the ability to focus for long periods of time.

WORK ENVIRONMENT

• General office