COST ACCOUNTANT

Location: Saint Paul
Posted on: November 9, 2024

Job Description:

The Cost Accountant position is integral to help maintain accuracy and reliability of inventory and analysis of cost of goods sold. Responsible for creating periodic financial reports. Maintaining and developing processes and controls in the areas of inventory, costing/manufacturing, freight, and work order accounting. This person will be responsible for developing annual cost standards by seeking input from cross functional teams. Once standards are developed, this role will be responsible for understanding and reporting variances to the developed standards on a monthly and adhoc basis. The Cost Accountant will play an active role on the Finance team.

PRINCIPLE ACCOUNTABILITIES:

Inventory/Production Recording and Analysis (45%)

Establish and maintain inventory standard cost estimates and bills of materials in the ERP system.

Record maintenance work order settlements on a weekly/monthly basis in ERP system.

Record production orders and production journal entries/accruals for month-end processing.

Analyze production orders for unusual variances on a monthly basis.

Analyze production costs on a monthly basis comparing to prior months and budget to determine that all costs were properly accounted for.

Perform inventory rollforward on a monthly basis to ensure the accuracy of ending inventory.

Coordinate and assist in inventory counts with internal staff, external warehouse staff, and external auditors. Reconcile differences between ERP system and inventory count; make adjustments in ERP system as necessary.

Act as a liaison between the production plant group and the accounting group.

Actively involved in reviewing internal controls and integrity of financial information and processes related to inventory

Reporting (30%)

Prepare summary of fixed and variable production costs on a monthly basis.

Prepare inventory reports for management on a monthly basis.

Reconcile the inventory general ledger accounts on a monthly basis.

Prepare reports for maintenance labor and other maintenance work order costs on a weekly/monthly basis.

Assist in monthly/annual financial reporting process.

Assist in annual external audit for inventory and production related requests

Accounts Payable (25%)

Record time entry related to contract maintenance labor.

Process invoice payments for maintenance, production, and inventory related items.

Review all invoices for appropriate documentation, approvals, and sales/withholding tax determination.

Scan supporting documents and attach in ERP system; maintain hard copy vendor files.

Qualifications:

Education and Experience Required:

Bachelor¿s degree in Accounting, Finance or related field

1-2 year of experience of cost accounting, inventory in a manufacturing work experience

Proficient with Microsoft Office Suite (Excel, PowerPoint, and Word); Advance Excel skills; experience with formulas, pivot tables, etc.

Education and Experience Preferred:

3-5 year of experience of cost accounting, inventory in a manufacturing work experience

CPA or CMA certification

Experience with SAP or other ERP system

Equal Opportunity Employer Minorities/Women/Veterans/Disabled

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