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Cost Accountant
Once Upon A FarmUKRemotefull_timeVerifiedPosted 5 Sept 2024
💰 $110,000/yr($80,000/yr – $110,000/yr)
About the role
Who You Are:You are a highly organized and analytical professional with experience in cost accounting and financial management. You excel in environments where you can apply your skills to manage costs, analyze data, and improve processes. You are proactive and collaborative, working effectively across teams to support business goals. Your strong problem-solving abilities and attention to detail make you a valuable asset in driving efficiency and optimizing financial performance.
The Task at Hand:The Cost Accountant will report to the Operations Controller and is a key contributor to the company's financial operations, focusing on analyzing and managing production costs to optimize financial performance. This role includes maintaining the master file for new items, ensuring accurate setup and updates in the ERP system (SAGEX3), and overseeing the bill of materials. Responsibilities also involve preparing detailed cost reports, managing inventory valuations, and conducting variance analyses to support the company's strategic goals. The position requires collaboration across departments to develop budgets, forecast costs, and implement process improvements that enhance efficiency and reduce expenses.
In This Role, You Will:• Oversee new item setup and maintenance of the item master file and bill of materials in the ERP system (Sage X3) • Assist in the development and yearly rollout of standard costs for manufactured and purchased goods • Perform the annual standard cost development and cost roll • Analyze production costs (materials, tolling, overhead) to identify savings opportunities and improve profit efficiencies • Prepare detailed financial reports, including monthly operational reports, explaining variances and productivity costs • Conduct ad hoc analyses as needed • Conduct detailed analyses of Purchase Price Variances (PPV), tolling costs, and usage variances • Review and rectify discrepancies, ensuring accurate cost allocation • Monitor inventory movements and evaluate cost trends, recommending appropriate actions for significant variations• Ensure accurate inventory valuation and control to minimize waste and optimize stock levels • Reconcile inventory balances with the general ledger (GL) monthly and manage the Inventory Book-to-Book model • Calculate reserves for slow-moving and obsolete inventory in collaboration with Materials and Supply Chain Managers • Maintain and improve processes and controls associated with manufacturing costs and inventory valuation • Collaborate with Operations to identify inefficiencies in cost accounting processes, driving process improvements and integrating new technologies• Develop and track cost-per-unit metrics for all finished goods SKUs • Work closely with finance, production, and procurement teams to ensure accurate cost reporting and effective communication • Support new business opportunities with costing models that align with pricing strategies • Gain a thorough understanding of manufacturing operations to act as the functional expert in costing and business analysis• Prepare project plans for improvements and contribute to strategic decision-making • Prepare ad-hoc reporting and analyses as needed, and other special projects required by the Operations Controller • Monitor, enforce, and test internal control systems• Coordinate with external auditors during the audit process, providing necessary documentation and explanations • Perform other tasks as needed to support business and regulatory requirements
In This Role, You’ll Bring with You:• A minimum of 4 years of related general accounting experience in a complex manufacturing environment • A minimum of 2 years of cost accounting experience and familiarity with inventory valuation, average costing, bill of materials, work orders, co-manufacturer tolling rates and factors, variances, and inventory reserves• A bachelor's degree, preferably in Accounting, Business, Supply Chain, or Operations Management, or equivalent years of experience, required• A high level of computer proficiency, including strong familiarity with general technology and web tools • A high degree of efficiency with Microsoft Office products, especially Excel and Pivot tables • Strong analytical abilities, communication skills, and organizational skills • Excellent facilitation and presentation skills
The Task at Hand:The Cost Accountant will report to the Operations Controller and is a key contributor to the company's financial operations, focusing on analyzing and managing production costs to optimize financial performance. This role includes maintaining the master file for new items, ensuring accurate setup and updates in the ERP system (SAGEX3), and overseeing the bill of materials. Responsibilities also involve preparing detailed cost reports, managing inventory valuations, and conducting variance analyses to support the company's strategic goals. The position requires collaboration across departments to develop budgets, forecast costs, and implement process improvements that enhance efficiency and reduce expenses.
In This Role, You Will:• Oversee new item setup and maintenance of the item master file and bill of materials in the ERP system (Sage X3) • Assist in the development and yearly rollout of standard costs for manufactured and purchased goods • Perform the annual standard cost development and cost roll • Analyze production costs (materials, tolling, overhead) to identify savings opportunities and improve profit efficiencies • Prepare detailed financial reports, including monthly operational reports, explaining variances and productivity costs • Conduct ad hoc analyses as needed • Conduct detailed analyses of Purchase Price Variances (PPV), tolling costs, and usage variances • Review and rectify discrepancies, ensuring accurate cost allocation • Monitor inventory movements and evaluate cost trends, recommending appropriate actions for significant variations• Ensure accurate inventory valuation and control to minimize waste and optimize stock levels • Reconcile inventory balances with the general ledger (GL) monthly and manage the Inventory Book-to-Book model • Calculate reserves for slow-moving and obsolete inventory in collaboration with Materials and Supply Chain Managers • Maintain and improve processes and controls associated with manufacturing costs and inventory valuation • Collaborate with Operations to identify inefficiencies in cost accounting processes, driving process improvements and integrating new technologies• Develop and track cost-per-unit metrics for all finished goods SKUs • Work closely with finance, production, and procurement teams to ensure accurate cost reporting and effective communication • Support new business opportunities with costing models that align with pricing strategies • Gain a thorough understanding of manufacturing operations to act as the functional expert in costing and business analysis• Prepare project plans for improvements and contribute to strategic decision-making • Prepare ad-hoc reporting and analyses as needed, and other special projects required by the Operations Controller • Monitor, enforce, and test internal control systems• Coordinate with external auditors during the audit process, providing necessary documentation and explanations • Perform other tasks as needed to support business and regulatory requirements
In This Role, You’ll Bring with You:• A minimum of 4 years of related general accounting experience in a complex manufacturing environment • A minimum of 2 years of cost accounting experience and familiarity with inventory valuation, average costing, bill of materials, work orders, co-manufacturer tolling rates and factors, variances, and inventory reserves• A bachelor's degree, preferably in Accounting, Business, Supply Chain, or Operations Management, or equivalent years of experience, required• A high level of computer proficiency, including strong familiarity with general technology and web tools • A high degree of efficiency with Microsoft Office products, especially Excel and Pivot tables • Strong analytical abilities, communication skills, and organizational skills • Excellent facilitation and presentation skills
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