Cost Accountant

Job Description

Job Description

Job Overview: The Manufacturing Cost Accountant is responsible for managing and analyzing the costs associated with production. This role involves developing and maintaining standard costs, preparing cost estimates, and analyzing financial data to ensure the Company meets its cost planning, budgeting, and profit targets. Working closely with teams across Production, Engineering, and Finance, the Cost Accountant provides critical insights to enhance cost efficiency and support data-driven decision-making throughout the organization.

This is a full-time, on-site position based in Bloomingdale, NJ, five days a week.

Key Responsibilities not limited to:

1. Cost Analysis & Development

• Develop and maintain standard costs for materials, labor, and overhead.
• Analyze production costs, including material, labor, and overhead, to identify cost-saving opportunities.
• Prepare cost estimates for new and existing products, ensuring accuracy and consistency.
• Review and validate the accuracy of Bills of Materials (BOMs) and routing methods.
• Monitor and analyze variances between standard and actual costs, providing insights and recommendations for improvements.

1. Inventory Management

• Ensure accurate inventory valuation by analyzing inventory transactions and reconciling discrepancies.
• Collaborate with warehouse and production teams to maintain proper inventory controls and adherence to procedures.
• Support the preparation of monthly and annual inventory reports.
• Participate in the physical inventory process and cycle counts, ensuring accuracy and completeness.

1. Financial Reporting & Compliance

• Assist in the monthly and annual closing processes, including the preparation of journal entries and account reconciliations related to cost accounting.
• Provide detailed cost reports and analysis to management, highlighting key trends and potential risks.
• Ensure compliance with accounting standards and internal controls related to cost accounting.

1. Budgeting & Forecasting

• Develop and maintain annual budgets for manufacturing costs, working closely with the finance team.
• Monitor actual costs against budgeted figures and provide variance analysis.
• Assist in the preparation of financial forecasts, incorporating cost data and trends.

1. Process Improvement

• Identify and recommend process improvements to enhance cost accounting accuracy and efficiency.
• Work with cross-functional teams to implement best practices in cost management and reporting.

Requirements:

• Education: Bachelors degree in accounting, Finance, or a related field.
• Experience: Minimum of 5 years of experience in cost accounting within a manufacturing environment.
• Proficient in Microsoft Office, with advanced Excel skills.
• Strong knowledge of accounting principles, including GAAP.
• Experience with ERP systems, particularly in a manufacturing setting.
• Excellent analytical skills with a strong attention to detail.
• Effective communication and interpersonal skills.
• Ability to work independently and as part of a team.

Competencies:

• Ability to interpret complex financial data and provide clear, actionable insights.
• Strong time management skills, with the ability to prioritize tasks and meet deadlines in a fast-paced environment.
• Self-motivated and proactive, with a continuous improvement mindset.
• Adaptable and resilient in dynamic, evolving settings.

Preferred Qualifications:

• Certification: CPA, CMA, or similar professional certification.
• Experience: Familiarity with lean manufacturing principles and cost-saving initiatives.

Work Environment:

• This position is fully on-site in Bloomingdale, NJ , Monday through Friday.
• This position may require occasional visits to the production floor and warehouse.
• The role may involve some travel to other company locations or suppliers as needed.