Cost Accountant Iii

The Cost Accountant III has key responsibilities of acting as a lead for the Cost Accounting Department through supporting and training the Cost Accountant I and II roles. This position is responsible for inventory accounting and acting as the operations contact for system transactions impacting cost and inventory management.

• Responsible for supporting the Cost Accountant I and II roles by assisting with required tasks as necessary to ensure continuity of operations and departmental deadlines.
• Maintain knowledge of current GAAP guidance in relation to cost accounting and inventory valuation and assist in updating internal processes and procedures to comply as necessary.
• Assist the Cost Accounting Manager in periodically evaluating current accounting procedures to comply with internal control requirements to ensure appropriate internal control processes and procedures are in place and adequate.
• Act as a lead on the daily operations of the cost accounting department including inventory and work-in-process (WIP) valuations, manufacturing variance analysis, reviewing and approving daily sales update batches, and intercompany orders management.
• Act as a lead of the cost accounting department for certain monthly tasks including profit recognition, net realizable value (NRV) analysis, construction-in-process (CIP) entries, calculation of company backlog, intercompany eliminations, and warranty reserves analysis.
• Monitor and reconcile inventory balances through the book to physical analysis and adjustment.
• Coordinate with the inventory control analyst to ensure appropriate cycle counting is occurring and adjustments are being made as necessary.
• Assist the Financial Analyst role in the quarterly labor and burden rate updates by completing appropriate inventory rolls and rate uploads in the system during the rate update process.
• Complete quarterly calculation and analysis of LIFO inventory value and update company reserve.
• Collaborate with the business unit managers to review and evaluate slow-moving inventory levels and make / update reserves as necessary quarterly.
• Collaborate with the appropriate operations personnel to manage consigned inventory.
• Prepare monthly journal entries and performs monthly / quarterly / yearly reconciliations of the cost accounting / inventory accounts and resolves discrepancies as they are discovered.
• Assist the Cost Accounting Manager in maintaining the cost accounting close schedule during the month-end close process and continually work towards timeline improvement.
• Take lead with the other Cost Accountants during the quarterly and year-end audits as various deliverables are required as well as assist the Cost Accounting Manager with responses to analytical questions asked by the third-party auditors.
• Collaborate with the other Cost Accountants and the Cost Accounting Manager to identify and complete departmental process improvement opportunities.
• Leverage knowledge of Cost Accounting Manager regarding cost accounting methodology, skills, and processes. Establish and maintain procedures.
• Analyze manufacturing, labor, overhead, and material costs to identify trends, cost drivers, risks, and opportunities for operational improvement.
• Conduct profitability analysis by product line, project, customer, and business unit to support pricing, resource allocation, and business decisions.
• Analyze trends in inventory, production efficiency, scrap, rework, and absorption rates and recommend corrective actions as appropriate.
• Utilize data analytics tools and ERP reporting capabilities to improve financial visibility, reporting accuracy, and operational insights.
• Ensure lessons learned applied to future efforts.
• Collaborate with other professional disciplines throughout the business on technical inquires and needs.
• Complete other duties and special projects as assigned.
• Regular, in-person attendance due to necessary teamwork and personal interactive nature of this position.

• Advanced knowledge of cost accounting principles.
• Advanced knowledge of US GAAP especially as related to cost accounting and inventory.
• Excellent communication skills both oral and written
• Attention to detail and accuracy in financial reporting.
• Ability to work in a fast-paced environment
• Ability to interpret and analyze accounting standards to translate findings into actionable business recommendations.
• Ability to execute and follow-through to completion and documentation.
• Proficiency with Power BI, SQL, Excel (advanced), or other business intelligence and analytical reporting tools.
• Ability to communicate complex financial information to non-financial stakeholders.
• Strong business partnering skills with operations, engineering, and executive leadership.
• Ability to analyze and evaluate procedures and work processes and to exercise appropriate judgment in establishing priorities and work methods.
• Strong work ethic with the ability to work independently or in a team.
• Aptitude for customer service…