Cost Accountant

Summary

Determines and implements cost accounting procedures and methods in a manufacturing environment.  Determines and maintains standard costs and inventory valuation accuracy for all items.  Forecasts costs for new projects and validates existing costs.  Team player in a growing business.  Ensure compliance with CAS and ASC 606 revenue recognition.  Review and analyze variances, maintain standard cost and adhere to Crissair/ESCO SOX program.

Job Duties and Responsibilities 

Other tasks and duties may be required as directed.

Cost Accounting & Standard Cost Management

Review, analyze, and reconcile standard and actual costs, identifying inaccuracies, trends, and opportunities for improvement.

Analyze manufacturing variances (labor, material, overhead, usage, and rate variances) and recommend corrective actions; update standard costs as needed.

Develop, maintain, and validate standard cost system settings, routings, bills of materials, and overhead rates to ensure accurate and timely financial transactions.

Take ownership and manage annual cost rolls.

Cost Estimating & Pricing Support

Research, develop, and prepare detailed cost estimates for all new part numbers, engineering changes, and customer quotations, including materials, labor, overhead, and outside processing.

Prepare and present cost and margin analyses to support pricing decisions, profitability analysis, and management reporting.

Assist in budgeting and forecasting activities, including overhead rate development and cost assumptions.

Manufacturing & Operations Cost Analysis

Partner with operations and engineering to review and validate routings and labor standards, ensuring alignment with actual production processes.

Develop and implement processes and internal controls to ensure accurate recording of actual labor times, machine hours, and production activity.

Inventory Accounting & Control

Calculate and maintain perpetual inventory values, including inventory reserves, excess and obsolete inventory analysis, and cycle count adjustments.

Validate correct inventory amounts through physical and cycle counts.

Financial Close & Accounting Support

Support month-end close activities, including inventory and cost-related journal entries, account reconciliations, and variance explanations.

Prepare revenue recognition worksheets, journal entries & maintains support.

Compliance, Audit & Tax Support

Support audits (internal and external) by providing documentation, analysis, and explanations related to cost accounting and inventory valuation.

Support R&D tax requirements and other tax dept. requests as needed.

Process Improvement & Documentation 

Continuously evaluate and improve cost accounting processes, tools, and reporting to enhance accuracy, efficiency, and decision support.

Generate and maintain desk top procedures as required.

Cross-Functional Finance Support

Support other areas of the Finance department on a backup basis; areas included but not limited to Accounts Payable, Financial Planning, Cost Estimating, and Accounts Receivable. 

Qualification Requirements

Education/Experience

Bachelors Degree (B.A. or B.S.) from four-year college or university in Accounting or Finance

3-5 years of previous experience in a manufacturing standard cost environment

Thorough knowledge of accounting procedures.

Excellent analytical skills with attention to detail.

Strong time management skills.

Language Skills

Strong command of the English language, both written and spoken.

Ability to read, analyze, and interpret common scientific, technical, business and professional journals, financial reports, legal documents and governmental regulations. 

Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.

Ability to write reports, business correspondence, and procedure manuals.

Ability to effectively present information and respond to questions from groups of managers, customers, and employees.

Math Skills

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.

Ability to work with mathematical concepts such as probability and statistical inference.

Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Ability to apply concepts of basic algebra.

Reasoning Skills

Ability to define problems, collect data, establish facts, and draw valid conclusions.

Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Computer/ Office Skills

Accounting Software - D365 experience preferred

Basic windows/internet browser

ERP/Inventory

Microsoft Office Advanced Excel (proficiency to include pivot tables), file linking & macros Word, Power Point

Typing/10-key

Detail oriented. Sound understanding of bills of material, routings, standard cost elements and ASC 606.

Physical Demands and Work Environment

Physical Demands 

Frequent activities: Sitting, typing, handling objects, talking/hearing

Occasional activities: Standing, walking, reaching, lifting/pushing/pulling up to 10lbs

Rare activities: Climbing/balancing, stooping, kneeling, crouching, lifting/pushing/pulling up to 25+lbs

Vision Requirements

Frequent: Close vision and computer monitor use

Occasional: Color vision and ability to adjust focus

Rare: Distance vision, peripheral vision, depth perception

Work Environment

Frequent exposure: Very quiet-to-quiet noise

Occasional exposure: Mechanical parts, fumes,  airborne particles, toxic chemicals, moderate-to-loud noise levels

Rare exposure: High places, outdoor weather, electrical shock, vibration, very loud noise