Cost Accounting Manager

Data Analysis • Plano, TX

275d

About The Position

The Cost Accounting Manager is responsible for all manufacturing accounting areas including standard costing and inventories. This position will be responsible for implementing controls to ensure accurate reporting of inventories and manufacturing costs, including research of variances, makes recommendations. The Cost Accounting Manager is responsible for overseeing the work performed by cost accounting resources and ensure the work is allocated and executed efficiently. This position addresses tight deadlines and a multitude of accounting activities that support the monthly close and financial analysis processes.

Requirements

• Bachelor's degree in Accounting or Finance required.
• Certification in a recognized professional accounting designation is required, with preference given to management accounting or cost accounting designations (e.g. CMA, CIMA, CGMA).
• A minimum of ten years' work experience in cost accounting in a manufacturing environment is required.
• Training in lean manufacturing principles or quality control systems (such as Six Sigma) is a plus.
• Affinity for manufacturing operations and inquisitive for how things work.

Responsibilities

• Collaborates with operations and production teams to support overall department goals and objectives related to costing and manufacturing reporting.
• Assist in the implementation of standard costing and inventory accounting system.
• Manage the work of cost accountants to develop more efficient procedures and use of resources while maintaining a high level of accuracy.
• Ensure accurate reporting of inventories and costs, timely analysis of labor, material, and overhead variances for decision making.
• Work with plant management teams to investigate unfavorable variances and make recommendations to improve.
• Create bill of materials for each job and the setup of standard costs, including labor, material, machining, and other direct and indirect conversion costs.
• Review standard and actual costs against operating data to analyze manufacturing variances. Make recommendations to improve efficiency and reduce waste throughout the manufacturing process.
• Manage data accumulation from production systems and databases for a robust cost accounting system. Monitor controls in place to ensure the integrity of the cost data.
• Work with operations and production scheduling to develop assumptions for equipment throughput, material consumption, and labor efficiency used in standard costs. Track conversion process and costs throughout various stages of the manufacturing process.
• Assist Estimating team in the proposal process by providing cost estimates for pricing and margin analysis. Build BOM library for the master product catalogue.
• Liaise with Purchasing for price evolution and raw material cost update. Ensure accurate and timely reporting of purchase price variance.
• Research and validate variances versus standard for purchases, processes, labor and spending. Make recommendations for improved adherence to standard.
• Manage inventory valuation from cost update and inventory adjustments for GAAP reporting (e.g. price testing).
• Develop financial controls over inventory reporting. Ensure adherence to month-end and cycle count instructions. Monitors scrap and recycle of materials. Reviews inventory count adjustments and resolves discrepancies.
• Monitor inventory movement throughout the production process to ensure accurate accounting of costs by job and inventories on hand. Ensure accurate reporting of inventory in-transit and 3rd-party warehouses.
• Track project cost and analyze budget to actual variances over project life cycle.
• Assist in the budget process. Make sure the costs used in material procurement budget and manpower budget are accurate and supported by robust assumptions.
• Validate the cost of goods sold is accurately tracked by product by job as part of the month-end close.
• Accumulate and apply overhead costs by job and by cost centers. Ensure absorption is correctly calculated, accounting for the changes in production volume and any impact from budget revisions.
• Supports & assist in the reporting on the effectiveness of operational performance by providing operations with financial analysis, plant metrics and KPIs.
• Analyze plant financial data to quantify cost savings opportunities and support cost reduction initiatives to improve operating profit.

Benefits

• Hybrid in Office, 3 days a week.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree