Cost Accountant

Description

The Cost Accountant is responsible for analyzing, monitoring, and reporting on product, project, and operational costs to support informed financial decision-making. This role combines core accounting functions—such as cost tracking, variance analysis, and financial reporting—with financial analysis skills, including forecasting, budgeting, and data-driven performance evaluation. The Cost Accountant partners closely with operations, finance, and management to improve cost efficiency, profitability, and financial controls.

Key Responsibilities

Cost Accounting & Financial Reporting

• Develop, maintain, and analyze standard costs for materials, labor, overhead, and production processes.
• Prepare and review cost accounting records, journal entries, and reconciliations in accordance with GAAP.
• Perform monthly, quarterly, and annual cost-related activities, including inventory valuation and cost roll-ups , daily labor edits and daily job closings.
• Analyze cost variances (price, usage, volume, and efficiency) and communicate drivers to management.

Financial Analysis & Decision Support

• Analyze cost structures and profitability by product, customer, project, or business unit.
• Support budgeting, forecasting, and long-range planning processes with cost and margin insights.
• Develop financial models to evaluate pricing strategies, capital investments, make-or-buy decisions, and process improvements.
• Provide actionable recommendations to improve margin, reduce waste, and enhance operational efficiency.

Operational & Cross-Functional Support

• Partner with operations, supply chain, and manufacturing teams to understand cost drivers and improve cost controls.
• Support new product introductions by estimating costs, margins, and break-even points.
• Monitor daily inventory levels, monthly cycle counts, slow-moving or obsolete inventory, and related reserves.
• Assist in developing and maintaining internal controls related to cost accounting, inventory, and fixed asset reconciliation.
• Complete other ad-hoc analysis as needed.

Data, Systems & Process Improvement

• Maintain and enhance cost accounting systems, including ERP and reporting tools.
• Prepare dashboards and management reports, summarizing cost, margin, and performance trends.
• Identify opportunities to streamline processes, improve data accuracy, and enhance reporting efficiency.
• Support internal and external audits by providing cost-related analyses and documentation.

Requirements

Education & Experience

• Bachelor's degree in Accounting or Finance,
• 3–7 years of experience in cost accounting, financial analysis, or a manufacturing/operations finance role.
• CPA, CMA, or progress toward certification preferred.

Technical Skills

• Strong knowledge of cost accounting methods (standard costing, absorption costing, variance analysis).
• Solid understanding of financial statements, budgeting, and forecasting.
• Advanced Excel skills; experience with ERP systems (e.g., Epicor, SAP, Oracle, NetSuite) preferred. Knowledge of SQL queries and Power BI preferred.
• Experience analyzing large data sets and translating findings into business insights. 

Analytical & Interpersonal Skills

• Strong analytical and problem-solving abilities with attention to detail.
• Ability to clearly communicate financial information to non-finance stakeholders.
• Comfortable working cross-functionally in a fast-paced environment.
• Proactive mindset with a focus on continuous improvement and value creation.

What Success Looks Like in This Role

• Accurate and timely cost reporting and variance analysis.
• Clear, actionable insights that help management improve margins and control costs.
• Strong partnership with operations and leadership to support strategic decisions.
• Improved cost visibility, forecasting accuracy, and process efficiency over time.