The Role
Analyzes cost data, budgets, forecasts, expenses, and financial records to identify savings opportunities and control costs. Prepares financial, variance, and accounts receivable reports; handles customer billing and vendor invoice processing. Coordinates inventory and fixed-asset counts, supports process improvements, and collaborates with finance, operations, procurement, and project management teams.
Summary Generated by Built In
Cost Accountant
FLSA Status: Exempt
Seniority Level: Entry level
Responsibilities:
- Cost Analysis: Analyzing cost data and financial records to identify areas of improvement, cost-saving opportunities, and potential risks. Conducting cost-benefit analyses and providing recommendations based on findings.
- Budgeting and Forecasting: Assisting in the development of budgets and financial forecasts by analyzing historical data, market trends, and operational factors. Collaborating with various departments to gather necessary information and ensure accuracy in budgeting processes.
- Cost Control: Implementing strategies to control costs and ensure adherence to budgetary guidelines. Monitoring expenses, identifying cost overruns, and recommending corrective actions to achieve financial targets.
- Financial Reporting: Preparing regular financial reports, cost analysis reports, and variance analysis reports to provide insights into cost performance. Presenting findings to management and stakeholders, highlighting key cost drivers and deviations from budgeted amounts.
- Process Improvement: Identifying opportunities to streamline processes and enhance cost efficiency within the organization. Proposing and implementing process improvements, cost-saving initiatives, and best practices to optimize resource allocation.
- Cross-functional Collaboration: Working closely with various departments, such as finance, operations, procurement, and project management, to gather cost-related data, provide insights, and align cost management strategies with organizational goals.
- Invoicing and Billing: Generating accurate and timely customer invoices and bills based on contractual terms and sales transactions. Ensuring invoices are properly coded, approved, and distributed to customers.
- Accounts Receivable Aging Analysis: Reviewing and analyzing the aging of accounts receivable, identifying past due accounts, and tracking trends in collections. Providing regular reports to management on outstanding balances and collection efforts.
- Invoice Processing: Receiving, reviewing, and verifying invoices from vendors for accuracy, completeness, and compliance with company policies and procedures. Ensuring proper coding, approval, and documentation before processing payments.
- PI Count for Inventory and Fixed Asset: Developing a comprehensive plan for conducting PI counts of fixed assets and inventory. Coordinating with relevant departments, such as finance, operations, and supply chain, to schedule the counts and allocate necessary resources.
- Financial Analysis: Proficiency in financial analysis is crucial for cost management. This includes understanding financial statements, cost structures, profitability analysis, and financial ratios. Strong analytical skills are necessary to identify cost drivers, assess cost-saving opportunities, and perform financial modeling.
- Cost Accounting: A solid understanding of cost accounting principles and techniques is essential. This includes knowledge of cost allocation methods, variance analysis, standard costing, activity-based costing (ABC), and cost estimation. Familiarity with cost accounting software and tools is beneficial.
- Data Analysis and Interpretation: Skilled data analysis is critical for cost management. Proficiency in Excel or other data analysis tools is important for working with large datasets, performing cost analyses, and generating meaningful insights. The ability to interpret data accurately and draw actionable conclusions is crucial.
- Business Acumen: A strong business acumen helps cost management professionals understand the organization's goals, industry dynamics, competitive landscape, and market trends. This knowledge allows them to align cost management strategies with overall business objectives effectively.
- Communication Skills: Effective communication skills are vital for collaborating with stakeholders at different levels, such as management, finance teams, operational departments, and vendors. Clear and concise communication is necessary to present cost analysis findings, recommendations, and cost-saving initiatives.
- Problem-Solving: Cost management often involves identifying and resolving complex financial and operational issues. Strong problem-solving skills are essential for analyzing challenges, developing creative solutions, and implementing cost-effective strategies.
- Attention to Detail: Paying meticulous attention to detail is critical in cost management to ensure accuracy in financial analysis, cost tracking, and reporting. Precision is necessary when examining cost data, identifying discrepancies, and conducting audits.
- Project Management: Cost management often involves working on projects with multiple stakeholders and deadlines. Strong project management skills, including planning, organizing, and prioritizing tasks, are valuable for successfully executing cost management initiatives.
- Ethical Conduct: Cost management professionals handle sensitive financial information and are expected to adhere to ethical standards, confidentiality, and integrity. They should demonstrate professionalism, honesty, and ethical behavior in all aspects of their work.
Skills Required
- Proficiency in financial analysis, including financial statements, cost structures, profitability analysis, financial ratios, and financial modeling.
- Knowledge of cost accounting principles, including cost allocation, variance analysis, standard costing, activity-based costing, and cost estimation.
- Proficiency in Microsoft Excel or other data analysis tools.
- Strong data analysis and interpretation skills.
- Business acumen and understanding of organizational goals, industry dynamics, and market trends.
- Effective communication and cross-functional collaboration skills.
- Strong problem-solving skills.
- Attention to detail and accuracy in financial analysis, tracking, reporting, and audits.
- Project management skills, including planning, organizing, and prioritizing tasks.
- Ethical conduct, confidentiality, integrity, and professionalism when handling sensitive financial information.
Hon Hai Technology Group (Foxconn) Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Hon Hai Technology Group (Foxconn) and has not been reviewed or approved by Hon Hai Technology Group (Foxconn).
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Healthcare Strength — Health coverage in the U.S. includes medical, dental, and vision, supported by EAP services and on‑campus or site health resources in some regions. These offerings align with large‑employer standards and are publicly emphasized across multiple locations.
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Retirement Support — Retirement provisions include a U.S. 401(k) plan and a formal pension framework in Taiwan that follows local law. This provides structured long‑term savings mechanisms across major geographies.
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Parental & Family Support — Family‑oriented benefits include childbirth allowances and transportation subsidies during pregnancy, with additional welfare programs and childcare supports referenced in corporate materials. These supports broaden the non‑salary value proposition in several regions.
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The Company
What We Do
Hon Hai Technology Group (Foxconn) is the world's largest electronics manufacturer and a leading technological solution provider, established in Taiwan in 1974. It leverages expertise in software and hardware to integrate manufacturing systems with emerging technologies, expanding into electric vehicles, digital health, and robotics, with a focus on AI, semiconductors, and next-generation communications.
