Principal Cost Accountant

The Company:

Cognex is the global leader in the exciting and growing field of machine vision, with annual revenue of $1 Billion. We are a financially strong international company with a culture that maintains the fast-paced, creative environment of a startup. Our employees, proudly called “Cognoids,” take their work seriously but don't take themselves seriously. Our Work Hard, Play Hard, Move Fast culture recognizes our employees for their innovation, perseverance, and hard work in a fun and rewarding environment.

The Team:

The team is responsible for worldwide cost accounting and Inventory and provides critical insights to support business decisions. Our team is split across Cork, Ireland and Natick, USA. We have an excellent team with members who have gained diversified experience during their tenure in the company. 

The Role:

The Principal Accountant, Costing & Inventory, under the guidance of the senior manager, Costing and Inventory, is responsible for overseeing cost accounting, inventory valuation, and financial analysis related to manufacturing, procurement, and supply chain operations. This role ensures accurate product costing, inventory control, and financial reporting while working cross-functionally on cost optimization initiatives. The ideal candidate will have strong analytical skills, expertise in inventory accounting, and the ability to collaborate with cross-functional teams.

Essential Functions:

Cost Accounting:

• Maintain standard costs in multiple product lines and locations; Support the annual standard cost update ensuring that product costs are established properly
• Analyse and forecast manufacturing related period cost including PPV, Absorption variances, Earned Overhead, Freight, Scrap and Sale of Inventory.
• Assist detailed product costing for new product development and provide cost insights to support pricing strategies, profitability analysis and other project initiatives.

Inventory Management and Control

• Perform month end closing activities and journal entries for worldwide inventory.
• Work closely with Operations management to review, establish, and/or maintain policies and procedures for functions related to inventory management and control.
• Monitor and forecast inventory levels to align with production and sales forecasts.
• Perform monthly reconciliations between the perpetual inventory system and the general ledger to mitigate risk.
• Maintain the cycle count program for all inventory locations to maintain inventory accuracy.
• Analyse inventory aging, obsolescence, and excess stock; Recommend reserve and disposal strategies. Ensure accurate inventory valuation in compliance with GAAP/IFRS.

Compliance & Audit Support

• Ensure adherence to accounting standards for inventory and cost accounting.
• Support internal and external audits and maintain internal controls regarding costing and inventory management.

Experience

• 7+ years in cost accounting, financial analysis, or business partnering, ideally in manufacturing.
• Strong background in standard costing, variance analysis, and inventory management.
• Proficient in ERP/financial reporting systems; SAP preferred.
• Experience supporting internal/external audits.

Skills

• Advanced Excel skills required, SAP Analytics Cloud and Power BI a plus.
• Strong analytical and problem-solving skills with high attention to detail.
• Excellent communication skills across all levels and global teams.
• Highly organized, adaptable, and effective in fast-paced changing environments.
• Team player who can also work independently.

Education

• Bachelor’s degree in Accounting, Finance, or related field.
• Professional qualification (CPA, ACCA, ACA, or equivalent) preferred.

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.

#LI-PM1