Cost Accounting Manager
Woodcliff Lake, NJ 07677 US
The Cost Accounting Manager is responsible the maintenance of the standard cost system, manufacturing accounting and analysis, variance reporting, and accurate bill of materials (BOM)/assemblies in a completely integrated ERP environment. This role is responsible to ensure that the company is adhering to GAAP and company policy and procedures. Additionally, this position is accountable for the development and coaching of staff. The ideal candidate will have a record of improving, automating and streamlining procedures while consistently achieving corporate financial goals.
This position reports to the Director of Financial Reporting and Costing Accounting may have a direct report.
- Review and analyze cost accounting data and assist with cycle count/physical inventories
- Oversee preparation of and review monthly end close journal entries for Inventory and Cost of Goods Sold
- Oversee preparation of and review monthly general ledger account reconciliation and analysis for Inventory accounts
- Prepare inventory and cost of goods sold monthly reporting package and supporting analyses to identify and explain trends, variances from expected and historical results, and potential issues and opportunities in the inventory, cost of sales, gross margin financial statement accounts. Analyze manufacturing, distribution and logistics cost and volume trends, by cost type, plant and DC. Work with Operations, Logistics and Supply Chain teams on follow-up reviews as needed.
- Oversee the monthly valuation of US and Canadian inventory, including LIFO, excess and obsolete, and other reserve adjustments; cap and roll of variances; revaluation of inventory; and elimination of profit in inventory. Ensure journal entries are reviewed and approved, and all account analyses are correctly prepared. Must be able to identify and address potential errors in financial statement accounts.
- Work with FP&A on the development of annual standard cost updates, based on Plant and DC cost center budgets and production/shipping volume budgets.
- Work with Procurement on inventory valuations used in support of subcontracting and raw material sales transactions.
- Work with Operations in planning the annual physical inventory, overseeing the appointment and scheduling of auditors for selected locations. Review and summarize overall audit results.
- Act as liaison with internal and external auditors relating to cost accounting inquiries, when needed.
- Review and implement new accounting pronouncements related to inventory.
- Review existing operating procedures, identify gaps and process improvement opportunities, and implement corrective action. Ensure procedures are properly documented in the event of staff turnover. Establish procedures to detect and correct data entry errors in procurement and operations that could result in inventory valuation errors.
- Train, develop and lead staff.
- Special projects as required.
- Must be available for travel and weekend work, as necessary (Less than 5%).
- 10+ years’ experience in Cost Accounting in a manufacturing environment.
- Extensive SAP manufacturing and accounting (FI/CO) knowledge. Excellent Microsoft Office skills, particularly Excel.
- Bachelor’s degree in accounting or finance. CPA, CMA or MBA a plus.
- Possess strong managerial and leadership skills. Must be able to train and develop staff.
- Strong Communication, Analytical and Presentation Skills.
- Ability to manage projects as needed and meet financial reporting deadlines.
- Thinks proactively and has the ability to add value through creative, flexible work solutions (i.e., independence of thought) while exercising sound/professional judgment. Must be able to work independently with little supervision. Strong problem-solving skills and the ability to research and resolve accounting issues.
- Self-directed, highly driven, with a strong business sense and professional presence
- Strong customer focus dedicated to meeting expectations and requirements of internal and external customers
- Seen as a team player that encourages collaboration and quickly gains trust and support of peers. Finds common ground and solves problems for the benefits of all
- Manage multiple tasks and projects with the ability to prioritize and respond quickly to customer requests based on shifting priorities
- Analyze, investigate and resolve issues related to daily work by applying knowledge of policies, procedures and internal processes
- Ability to drive for results to complete goals successfully
- Align and operate within the company’s core ethics and values