The Cost Accounting Manager is responsible for overseeing all cost accounting functions, including product costing, inventory valuation, cost analysis, budgeting support, and financial reporting. This role ensures accurate cost data, identifies opportunities for cost reduction and process improvement, and supports management with financial insights to drive profitability and operational efficiency.
Key Responsibilities
- Develop, maintain, and improve cost accounting systems, processes, and controls.
- Analyze manufacturing, production, labor, overhead, and material costs.
- Monitor standard costs and conduct variance analysis.
- Review and validate product costing methodologies.
- Prepare and present cost reports, profitability analyses, and management dashboards.
- Evaluate inventory valuation and ensure compliance with accounting standards.
- Lead monthly, quarterly, and annual cost accounting close activities.
- Prepare journal entries related to inventory, cost of goods sold (COGS), and manufacturing variances.
- Reconcile inventory accounts and support financial statement preparation.
- Ensure accurate reporting of production and inventory-related transactions.
- Partner with operations, procurement, and finance teams during budgeting and forecasting cycles.
- Analyze actual costs versus budget and forecast.
- Identify cost-saving opportunities and recommend corrective actions.
- Oversee physical inventory counts and cycle count programs.
- Investigate inventory discrepancies and implement corrective measures.
- Ensure proper inventory controls and compliance with company policies.
- Establish and maintain strong internal controls over inventory and costing processes.
- Support internal and external audits.
- Ensure compliance with applicable accounting standards and regulatory requirements.
- Manage, mentor, and develop cost accounting staff.
- Collaborate with manufacturing, supply chain, procurement, and finance teams.
- Lead continuous improvement initiatives related to costing and financial processes.
Qualifications
- Bachelor's degree in Accounting, Finance, or a related field.
- 5–10+ years of accounting experience, including cost accounting in a manufacturing or production environment.
- At least 2–3 years of supervisory or management experience.
- Experience with ERP systems (SAP, Oracle, Microsoft Dynamics, NetSuite, or similar).
