Cost Accounting Manager

Stulz Air Technology Systems - Frederick, MD

Full-time - Mid Level

Frederick, MD

Machinery Manufacturing

About the position

The Cost Accounting Manager plays a crucial role in the financial health of the organization by creating and maintaining accurate process cost information. This position involves comparing standard costs to actual costs, managing the perpetual inventory system, and participating in the month-end close and budgeting processes. The manager will develop and maintain a cost accounting system aimed at reducing costs and improving profitability. This role requires a seasoned professional with experience in manufacturing and cost accounting, who will collaborate with various departments such as procurement, production, inventory control, and IT to establish best-in-class manufacturing cost accounting, reporting, and operational practices. In this position, the Cost Accounting Manager will manage all aspects of cost accounting, including product costing, cost analysis, internal controls, and inventory reporting. They will ensure accurate inventory valuation on the balance sheet and establish necessary reserves. The manager will identify and implement improvements in inventory control and costing processes to enhance efficiency, accuracy, and internal controls. As the organization's expert on cost accounting and inventory control issues, they will collaborate with the controller organization to manage, reconcile, and facilitate the month-end accounting close, ensuring accurate monthly reports and improving the efficiency of the closing process. The role also involves coordinating, conducting, and assessing the annual physical inventory, cost revaluation, and cost accounting financial audit. The manager will develop and monitor the cycle count program, review adjustments, investigate root causes, and work with relevant functions to develop control plans. They will lead the annual standard-setting process and establish processes and criteria for standards setting and new product setup. Additionally, the manager will develop and monitor inactive, obsolete, and surplus inventory to ensure proper reservation and disposal. Working with the operations team, they will define Key Performance Metrics (KPI) and issue regular performance reports. The Cost Accounting Manager will develop and implement inventory management strategies to ensure optimal levels and minimize carrying costs, while collaborating with engineering, procurement, and operations teams to identify cost-saving opportunities and efficiency improvements. They will also work closely with Pricing to ensure accurate product costs and rates for pricing accuracy, providing functional support for strategic initiatives within the Supply Chain organization. Leading or participating in cross-functional teams, the manager will ensure continuous process, methods, productivity, and quality improvements while reducing costs. Finally, they will provide leadership and guidance to the cost accounting team, fostering a culture of continuous learning and improvement.

Responsibilities

• Manage cost accounting, including product costing, cost analysis, internal controls, and inventory reporting.
• Ensure accurate inventory valuation on the balance sheet and establish required reserves.
• Identify and implement improvements in inventory control and costing processes to enhance efficiency, accuracy, and internal controls.
• Serve as the organization's expert on cost accounting, inventory control issues, and related standard processes and procedures.
• Collaborate with the controller organization to manage, reconcile, and facilitate the month-end accounting close, ensuring accurate monthly reports and improving closing process efficiency.
• Coordinate, conduct, and assess annual physical inventory, cost revaluation, and cost accounting financial audit.
• Develop and monitor the cycle count program, review adjustments, investigate root causes, and work with relevant functions to develop control plans.
• Lead the annual standard-setting process and establish processes and criteria for standards setting and new product setup.
• Develop and monitor inactive, obsolete, surplus inventory to ensure proper reservation and disposal.
• Work with the operations team to define Key Performance Metrics (KPI) and issue regular performance reports.
• Develop and implement inventory management strategies to ensure optimal levels and minimize carrying costs.
• Collaborate with engineering, procurement, and operations teams to identify cost-saving opportunities and efficiency improvements.
• Work closely with Pricing to ensure accurate product costs and rates for accurate pricing.
• Provide functional support for strategic initiatives within the Supply Chain organization.
• Lead or participate in cross-functional teams to ensure continuous process, methods, productivity, and quality improvements while reducing costs.
• Provide leadership and guidance to the cost accounting team, fostering continuous learning and improvement.

Requirements

• A Bachelor's degree in Accounting, Finance, or a related field is required.
• An advanced degree or professional certification such as CPA, CMA, or APICS is highly desirable.
• Minimum of 10 years of experience in cost accounting, including 5 years in a senior cost accounting role.
• Proficient in monthly reporting, inventory management, annual budgeting, and financial analysis.
• Strong knowledge of cost accounting principles and practices, as well as financial regulations and standards.
• Excellent analytical skills, able to analyze complex financial data and provide meaningful insights into product cost and profitability.
• Proficiency in SAP costing methodologies.

Nice-to-haves

• Familiarity or certification in Six Sigma/Continuous Improvement methodology preferred.