The Plant Cost Accountant position is responsible for oversight and maintenance of the standard cost system, manufacturing accounting and analysis, variance reporting, and ensuring accurate bill of materials (BOM)/assemblies within the Company’s ERP environment.
DESCRIPTION OF ESSENTIAL DUTIES:
- Ensure accuracy of information entered via effective control processes.
- Maintain accurate standard cost accounting records:
- Work with various departments (e.g. Sales, Purchasing, Finance) in determining standard costs for each customer SKU.
- Responsible for product set up and updates to bill of materials (BOMs)/assemblies as well as purchased items. Self-audits need be performed to ensure accurate item setup within the ERP system.
- Update standard costs as needed. Updates are needed as purchased good item pricing changes, overhead rates change, customer formulas change, etc. This will be a shared responsibility with the Operations Finance Manager and/or a secondary Cost Accountant.
- Manage test runs and newly commissioned SKUs from an accounting and finance perspective. This requires attending test run and change management meetings. This may include reviewing test run and commissioning invoices for accurate charges as well as reviewing test and commissioning run work order completions for yield and variances including material usage.
- Process and oversee manufacturing accounting:
- Monitor WIP clearing and open work orders to ensure production is closing work orders in a timely manner.
- Timely process closed work orders.
- Report to Operations group operating reports which identify variances and reasons for variances via Daily Operating Reports (DORs). Work with Operations group to analyze work orders against standards and make yield adjustments as necessary to standard costs.
- Month end reporting of all manufacturing variances by location.
- Analyze and report on financial data as it relates to standard costs and manufacturing accounting:
- Analyze and report on ingredient/component costs and manufacturing variances (e.g. labor, material usage, planned, engineering and other) by SKU.
- Measure standard costs against budget and report deviations as needed.
- Assist in the updating of overhead rates, comparing budgeted overhead to actual.
- Assist in the calculation of overhead rates by plant and cost center.
- Ensure accurate application of calculated overhead to standard costs of each plant and cost center.
- With time, be able to identify trends and recommend cost changes, based on variance analysis performed.
- Assist in monthly closing of general ledger:
- Balance WIP Clearing to the General Ledger
- Summarize variance accounts, providing detailed explanations for period moves and recommendations, where applicable, for changes to relevant items’ standard cost.
- Other duties as assigned.
QUALIFICATION REQUIREMENTS: (To perform this job successfully, and individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required).
- Education: Four-year college degree in accounting or related field preferred.
- Experience: Three-five years of related experience required. Preference will be given to those with applicable experience in cost accounting or manufacturing accounting background.
- Previous experience with Sage x3 preferred.
- Proficiency with computerized accounting system(s) and excellent computer skills required.
- Advanced, proficient knowledge of Microsoft Excel, including ability to create pivot tables and write complex functions/formulas required.
- Analytical problem solving and math skills, including ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations required. Must display a good understanding of probability and statistics.
- Must demonstrate accuracy and attention to detail.
- Must be able to present data effectively and be able to read and interpret written financial information.
- Excellent interpersonal skills required. This position focuses on solving conflicts, maintains confidentiality, listens to others without interrupting, keeps emotions under control and remains open to others' ideas.
- Excellent Written and Oral Communication skills required. The cost accountant must be able to speak clearly and persuasively in positive or negative situations, listen and get clarification, demonstrate group presentation skills, and actively participate in meetings. Effective communication with co-workers and management in order to deliver excellent internal and external customer service is a must.
- Must be able to work effectively and efficiently with little or no supervision, prioritizing and planning work activities such that reports are delivered and tasks are completed timely. Note that this may require multi-tasking in a time-sensitive, fast-paced environment on occasion.
- Must demonstrate willingness to work in a team environment and contribute to group goals.
- Must be able to accept and provide feedback, whether positive or negative, in a professional manner.