Introduction:
A cost accountant is responsible for minimizing the company’s financial misspend and boost profit. The primary duty of a cost accountant includes determining the actual cost of manufacturing, scrutinizing company expenses, analyzing profitability, and managing company budget. Cost accountant closely works with the management and they have to assist management effectively achieves financial objectives. Cost accountant must be experienced and familiar with handling accounting tasks.
Cost Accountant Job Titles:
- Cost Accountant
- Senior Cost Accountant
- Cost Account with MS excel proficiency
- Cost Account ( Part-Time)
Cost Accountant Job Summary:
We are looking to hire a motivated and experienced cost accountant who possesses excellent analytical skills. He needs to be a detail-oriented, knowledgeable, problem solver, and work under pressure. Their job responsibilities include analyzing variance generated from actual invoice processing compared to land cost accounting rules, reviewing product costing from manufactured items to ensure accuracy, review and analyze month supply reporting, will lead budgeting and forecasting process of the company, experience handling large ERP system and SAP, perform month-end close activities related to cost accounting, prepare an inventory and production-related journal entries, ensure validity and accuracy of ERP through analysis, internal audit, inventory control, and production. They need to maintain the standard cost of production component in the ERP system and prepare new and proposed product costs for all potential new products, review the standard and actual costs for inaccuracies, analyze purchase price variances report, and implement standard cost by gaining insight and feedback from supply chain leadership.
Cost Accountant Responsibilities and Duties:
- Plan, analyze and collect information to determine the cost of business activity
- Examine data collected and record results
- Inspect changes in product design and manufacturing method to determine the effect on costs
- Scan actual manufacturing costs and prepare periodic reports by comparing standard costs to actual production costs
- Examining audits of costs and preparing reports
- Preparing estimates of new and proposed product costs
- Recording the cost for the use in controlling expenditure
- Helping in preparing month-end close of the general ledger
- Maintaining cost accounting system
- Conducting physical inventories and monitoring cycle count program
- Classifying the costs accurately and generating PPV reports
- Reviewing JE carefully and preparing monthly and quarterly accounting reports for submission to the management
- Suggesting changes to policies and procedures to increase cash flow
- Reviewing the rate of depreciation, labor, and overhead
- Identifying solutions and creating resources to control gaps
- Identifying opportunities and implementing the best process
Cost Accountant Skills and Qualification:
- Bachelor degree in accounting
- Must possess a minimum of 3 years of experience in cost accounting
- Punctual, reliable and must have strong communication skill
- Must possess strong cost system background and understanding of accounting principles
- Computer savvy and strong Excel skills
- Able to use outlook and word
- IASB accreditation and CPA license is essential
- Analytical thinker and strong conceptual and problem-solving skills
- Meticulous and great organization skill
- Able to work under pressure, meet deadlines and work as a part of a team
- Great report writing, communication, and IT skills
- Strong time management skill and ability to handle confidential information
