Cost Accountant III

Job Description

Job Title: Cost Accountant III

Date Written: 09/12/2024

Company/ Department: Provision/ProNova Finance

FLSA Classification (HR Use Only): Non-Exempt Exempt

Employment Status: Full-Time Part-Time Temporary

SUMMARY OF POSITION: Are you a seasoned accounting professional with a passion for analyzing costs and optimizing financial performance? We're looking for an experienced Cost Accountant III to join our growing team! In this role, you'll leverage your expertise to support strategic decision-making, ensure accurate cost analysis, and contribute to the company's financial success. If this describes you, we would love you to become an essential part of our financial team. The Cost Accountant III analyzes material, labor or other expenses to determine production costs, cost of sales, or other cost-related performance measures.

JOB RESPONSIBILITIES:

• Cost Analysis and Reporting: Conduct detailed cost analysis to determine the true cost of operations, products, and services. Prepare reports summarizing findings and make recommendations to management for cost control and reduction.
• Budget Preparation and Monitoring: Assist in the preparation of budgets, forecasts, and financial planning. Monitor actual performance against budgeted figures, identify variances, and analyze the reasons behind them.
• Standard Cost Development: Develop and maintain standard costs for products, services, and operations, and periodically review and update these costs to reflect current pricing and operational conditions.
• Inventory Management: Oversee inventory accounting and reconcile physical inventories with financial records. Ensure accurate inventory valuation and reporting and analyze inventory variances.
• Cost Control: Work closely with operations and production teams to identify areas for cost savings, process improvements, and efficiency gains. Recommend and implement cost-saving measures.
• Month-End Close Activities: Perform month-end close activities related to cost accounting, such as journal entries, account reconciliations, and variance analysis. Ensure the accurate and timely closing of financial records.
• Internal Auditing and Compliance: Ensure compliance with internal policies, external regulations, and accounting standards (such as GAAP or IFRS). Assist with internal and external audits related to cost accounting.
• Financial Modeling and Analysis: Develop financial models to support decision-making related to cost management, pricing, and profitability. Analyze financial data to identify trends and provide insights to management.
• Systems Management and Process Improvement: Maintain and enhance cost accounting systems and processes. Implement new software or tools to improve efficiency and accuracy in cost accounting functions.

EXPERIENCE AND EDUCATION:

• Bachelor's degree in accounting or related field required
• 6+ years of experience
• Comprehensive knowledge of subject matter
• Performs work under minimal supervision
• Handles complex issues and problems
• Refers only the most complex issues to higher-level staff

COMPETENCIES:

• Detail oriented
• Analytical thinking skills
• Mathematical skills
• Oral and written communication skills