Overview:
The Cost Accounting Analyst will be responsible for overseeing cost accounting activities ensuring accurate and timely financial reporting related to inventory, cost of goods sold, and manufacturing variances. This role will play a critical part in optimizing financial performance through insightful analysis and process improvements.
Job Responsibilities:
- Oversee the accurate and timely calculation of standard costs for all products, ensuring alignment with bill of materials and routing information.
- Analyze manufacturing variances (material, labor, overhead) and provide detailed explanations to management.
- Develop and implement robust inventory valuation methodologies, including cycle counting and physical inventory procedures.
- Prepare and analyze monthly, quarterly, and annual cost of goods sold reports.
- Collaborate with production, supply chain, and R&D teams to understand cost drivers and identify cost reduction opportunities.
- Participate in the annual budgeting and forecasting processes for cost of goods sold and inventory.
- Ensure compliance with GAAP and internal accounting policies related to cost accounting.
- Develop and implement internal controls over inventory and cost accounting processes.
- Support financial audits by providing necessary cost accounting documentation and explanations.
- Prepare ad-hoc financial analysis and reports as requested by senior management.
- Drive continuous improvement initiatives within the cost accounting department.
Required qualifications:
- Bachelor's degree in Accounting, Finance, or a related field.
- Minimum of 2-3 years of progressive experience in cost accounting within a manufacturing environment.
- Strong understanding of GAAP and cost accounting principles.
- General knowledge of ERP systems.
- Advanced Excel skills.
- Demonstrated ability to analyze complex financial data and translate it into actionable insights.
- Excellent leadership, communication, and interpersonal skills.
- Ability to work independently and as part of a team in a fast-paced environment.
- Proven track record of driving process improvements and achieving financial objectives.
- Strong attention to detail and accuracy.
Preferred qualifications:
- CPA or CMA certification
- Cost accounting experience within the life sciences industry
- Proficiency in ERP systems (e.g., SAP, Oracle)
