Job Description
We are partnered with an industry leading organization for their Senior Cost Accountant opportunity.
The Senior Cost Accountant provides weekly, and monthly (month end close) support with a focus on cost accounting, inventory valuation, balance sheet & P/L reconciliation, and process improvement in line with standard operating procedures.
Responsibilities:
- Assists the Accounting Managers in driving the Month-End Close process for multiple entities. Participates and at time supervises daily accounting department tasks. Prepares and/or reviews appropriate ledger entries and accruals, with a primary focus on cultivated and manufactured inventory, and related costs of production.
- Ensures completeness and accuracy of all assigned balance sheet and profit/loss accounts, databases, and files, including the completion and review of monthly balance sheet reconciliations and applicable income statement accounts.
- Collaborate with the Accounting Managers, accounting team, and other internal departments to design, document, implement, and monitor processes that establish controls, ownership, and accountability of involved parties related to costs of production.
- Performs ad hoc analysis and projects as requested, including the implementation of new ERP system (Epicor/Wherefour).
- Works closely with the Accounting Manager, Controller, Parent Company Accounting Group, external auditors, and tax accountants during quarter and year end close to support reporting & regulatory requirements and provide financial commentary and supporting schedules as requested.
Inventory Valuation and Management:
- Plan, study and collect data to determine costs of business activity such as raw material purchases, labor and overhead expenditures which directly affect the company’s financial operations. Review and provide analysis of significant variances of actual to standard manufacturing costs and make recommendations for improvement (PPV, Material Usage variance, Labor rate and usage variances, Overhead spending variances).
- Makes estimates of new and proposed product or service costs. Recommends cost efficiencies to senior management and executes agreed upon directives. Review and provide input and justification for new manufacturing equipment capital expenditures.
- Develops and delivers management with reporting and analysis of manufacturing efficiency performance, specifying and comparing factors affecting profitability of products or services.
- Analyze as needed changes in product packaging design, raw materials, manufacturing methods, or services provided, to determine effects on costs. Analyze and make recommendations as to inventory content.
- Drives continuous improvement programs to reduce product costs through interaction with Operations.
- Supports all accounting month end and year end processes completing required journal entries and analysis as required. Support close process in other ways as assigned and required.
- Compiles and develops information to be used in operating budget preparation including material costs, labor costs and overhead spending costs by P&L line item.
- Set up all new standard costs or changes to existing standards. Develops components, finalizes and rolls out standards at quarter end including verification of all purchases costs, routings, bills of materials, labor rates. Develops recommendations for establishing direct labor and factory overhead rates by product category.
- Responsible for designing and implementing robust procurement and inventory management controls including inventory accuracy/valuation, assistance with balance sheet reserves, other items as appropriate.
- Monitor effectiveness and make recommendations as to effectiveness of controls in cost accounting system. Develops and installs new cost accounting systems or components as needed.
Experience & Requirements:
- Bachelor’s degree with a concentration in business or accounting. CPA preferred. Experience with or master’s degree in Supply Chain Management, and/or CMA preferred.
- 3+ years of progressive accounting experience. Public accounting experience, as well as corporate accounting experience preferred.
- Manufacturing and Cost Accounting experience required.
- Knowledge of U.S. GAAP as it relates to inventory
- Experience or exposure to all areas of accounting including but not limited to accounts payable, accruals, reserves, and inventory valuation. Comprehensive understanding of the principles of inventory manufacturing processes, retail sales processes, sales and use tax, and public company audit compliance.
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