Cost Accountant

AP Professionals has partnered with a premier local company in search of a Cost Accountant. The Cost Accountant is responsible for managing all financial and accounting aspects related to inventory control within the organization. This role ensures precise recording, reporting, and analysis of inventory transactions to enhance operational efficiency and support informed financial decision-making. The ideal candidate possesses a solid understanding of cost accounting principles, inventory management, and business operations in a mid-sized organization. This position is fully onsite.

Responsibilities

• Maintain accurate cost records for all inventory transactions, including purchases, transfers, and adjustments.
• Conduct monthly, quarterly, and annual reconciliations to align physical inventory with financial records.
• Analyze cost variances between actual and standard costs, identifying trends and discrepancies.
• Develop and implement cost accounting policies, procedures, and controls to improve accuracy and efficiency.
• Review and reconcile purchase orders with inventory received on-site and direct-to-customer drop shipments.
• Calculate and report inventory valuations using FIFO, LIFO, or other costing methods.
• Prepare detailed cost and inventory reports for management, highlighting key insights and risks.
• Ensure compliance with financial reporting standards (GAAP, IFRS, etc.) related to inventory valuation and cost accounting.
• Support internal and external audit processes by providing accurate inventory cost data.
• Work closely with supply chain, procurement, and warehouse teams to optimize inventory levels and reduce obsolescence.
• Analyze inventory turnover rates and recommend cost-effective strategies to improve cash flow.
• Assist in budgeting and forecasting related to inventory costs and cost of goods sold (COGS).
• Identify opportunities to enhance cost tracking and reporting processes.
• Support the implementation or improvement of inventory management and cost accounting systems.
• Establish and maintain internal controls to safeguard inventory and cost data accuracy.
• Ensure all inventory and cost transactions comply with company policies and legal requirements.
• Monitor and report risks related to obsolete inventory, cost fluctuations, or fraud, recommending mitigation strategies.
• Assist with general accounting processes, including journal entries and reconciliations.
• Support month-end and year-end closing activities related to inventory and cost accounting.

Education

• Bachelor's degree in Accounting, Finance, or related field.
• CPA or CMA preferred.

Experience

• At least 3 years of experience in accounting.
• Prior inventory audit experience in public accounting strongly preferred.

Knowledge, Skills, Abilities, and Other Characteristics

• Strong proficiency in accounting software (Acumatica) and inventory management systems.
• Advanced Excel skills, including pivot tables and data analysis for cost tracking and reporting.
• Experience with ERP systems and inventory tracking tools.
• Excellent analytical and problem-solving abilities to assess cost variances and optimize inventory processes.
• High attention to detail and strong organizational skills.
• Effective communication and collaboration skills for working with cross-functional teams.
• Ability to manage multiple tasks, meet deadlines, and perform well under pressure.