Cost Accountant 14 views

Job Purpose:

• To estimate production costs and track regular expenses, which may be related to a new process or a new product and recommend changes to pricing and business models through tracking data such as changing labor, supply costs, conducting market research.

Duties and Responsibilities

• Develops and maintains accurate costing systems in relation to labor, production methods and material supply.
• Analyzes changes in product design, raw materials, manufacturing methods, or services to determine effects on costs.
• Estimates new and proposed product costs as well as product changes.
• Analyzes the data collected and logs a detailed record of the results.
• Prepares (monthly, quarterly, and annual) cost forecasts.
• Analyzes monthly Cost of goods sold (CoGS), Purchase Price Variance (PPV) and Manufacturing variance journal entries.
• Analyzes data on material and labor costs to evaluate efficiency and effectiveness.
• Reviews standard and actual costs for inaccuracies.
• Analyzes changes in product design, raw materials, manufacturing methods, or services provided to determine effects on costs.
• Analyzes actual costs and prepares periodic report comparing standard costs to actual costs and recommend cost efficiencies.
• Provides finance support on business cases; project cost calculations/quotations for strategic projects with appropriate labor and overhead rates and overall production costs (make/buy, outsourcing/insourcing).
• Prepares product cost reports which meet the needs of managers and other employees using the information.
• Reconciles general ledger account balances for inventory, material expense and production costing items.
• Assists cost related issues in Ad-Hoc projects to improve overall financial process and controls.
• Evaluates and updates standard costs on a quarterly basis, which includes the review and analysis of material, direct & indirect labor, and other overhead costs incurred.
• Provides input and recommendations for streamline processes and updates of the cost accounting policies and procedures.
• Reviews and drives cost reductions, working capital opportunities and manufacturing productivity improvements.
• Prepares the monthly cost of sales figures by analyzes expenses such as material, labor, research, and development expenses.
• Performs other duties assigned by the immediate supervisor