Accountant, Cost

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Position Summary
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The Cost Accountant reports to the Corporate Controller and is responsible for supporting cost accounting practices, enhancing financial accuracy, and developing and maintaining the manufacturing cost systems for the respective plants. This role involves analyzing costs, assisting in budget development, and implementing cost control measures. The Cost Accountant will have primary day-to-day responsibility to ensure that product costing is accurate, inventory is valued properly, and property accounting accurately reflects the appropriate position on the balance sheet.

Works with Plant Accountants for reporting, budgeting, forecasting, and variances analysis for the plants as well as assisting in production analysis and capital spending justification.

• Lead Cost Accounting activities.
• Maintain cost accounting system that ensures accurate costing including supporting the maintenance of cost accounting policies and procedures.
• Perform cost-benefit analyses for various projects and initiatives to determine financial viability and impact.
• Understand and monitor facility work center costs to ensure continuous improvement and accuracy in the 4
  
  Front quote model.
• Assist in the creation of business plans, financial models, and other analyses related to new business initiatives.
• Work on developing cost forecasts and projections to support strategic planning and decision-making processes.
• Establish benchmarks for various business processes and then compare them against actual costs to identify and explain variances.
• Utilize historical data and cost analysis to help predict future costs and revenue, supporting budgeting and financial planning.
• Lead Material and Product costing activities.
• Calculate and update standard costs and the standard cost sheet (Direct Materials, Parts, Products) and ensure accuracy in the Bill of Materials (BOMs).
• Lead the Cost Roll process working with procurement, materials management, and plant accounting to update standard costs annually.
• Study and collect data to determine costs of business activities such as raw material purchases and inventory.
• Collaborate with supply chain and procurement teams to manage and optimize costs related to materials and suppliers.
• Lead the update and maintenance of product costing modules in the ERP including the development of required reports.
• Contribute to the development of accurate cost estimates for new/proposed products and product changes to support pricing decisions.
• Provide cost review and ERP system cost rollup for new products.
• Develop keen understanding of the ERP system product costing including standard cost routing and bills-of-material.
• Work collaboratively with the Operations, Sales, and Engineering teams to understand and analyze product costs.
• Lead Labor, Overhead, and Production Operating costing activities.
• Study, calculate, and update standard costs and the standard cost sheet for Labor, Overhead, and Production Operating activities.
• Track and evaluate all expenses related to operations, such as production, labor, shipping, and administration.
• Assist in the analysis of manufacturing processes to identify opportunities for efficiency improvement, cost reduction, and increased profitability.
• Assist management with interpretation of production performance including ERP data extraction as necessary.
• Monitor transactions pertaining to the production of parts. Ensure those transactions (i.e., DMR transactions, cycle-count adjustments, etc.) are accurately captured within internal reporting and general ledger.
• Lead the completion of time and motion studies to accurately determine the cost of labor and improve labor cost optimization and productivity.
• Conduct verifications of changes in price and cost.
• Validate and control material price changes.
• Develop process to ensure customer pricing changes occur as appropriate to material price changes.
• Work with Sales to develop a procedure to audit monthly customer invoiced prices.
• Support preparation and administration of annual plant budgets.
• Update ERP system for annual budget standard costs.
• Assist in budget development for plant sales, costs, and departmental expenses. This includes target setting, target management, discussions with department heads and loading results into consolidations systems.
• Develop (in conjunction with IT) new systems as needed for tracking expenses and comparing them to expected results.
• Support department heads in analysis of departmental variances to approved budgets.
• Prepare and monitor periodic reporting and analyses to support accuracy in financial reporting.
• Generate detailed cost reports and analyze them to ensure accuracy and compliance with established accounting standards.
• Prepare timely and accurate weekly, monthly, and quarterly reports of inventory, costs of goods sold, Purchase Price Variance, Part Margin analysis, Material Check Program Reconciliation including the revaluation…