What are the responsibilities and job description for the Cost Accountant position at BGS Consulting?
Our electrical manufacturing client, located in Cockeysville, Maryland is seeking an experienced and detail-oriented Senior Accountant with a specialization in Cost Accounting to join their finance team. This position will report to the controller and will be instrumental in analyzing, tracking, and managing the company’s costs to ensure accurate financial reporting, improved operational efficiency, and alignment with overall business goals. This role requires both strong technical skills and an ability to provide insights that support strategic decision-making across departments.
Location: This position is hybrid 4 days a week in office in Cockeysville, MD.
Key Responsibilities:
Cost Accounting and Analysis
- Perform and manage cost accounting activities, including cost analysis, variance analysis, and margin analysis.
- Maintain and improve cost accounting systems, ensuring accuracy and compliance with company policies and industry standards.
- Track and report on inventory costing, product costing, and any production costs that impact COGS (cost of goods sold).
- Analyze manufacturing costs, identify cost-saving opportunities, and support operational efficiency.
Financial Reporting
- Prepare monthly, quarterly, and annual cost accounting reports.
- Ensure accurate and timely close of cost accounting data in alignment with the general ledger.
- Participate in month-end close activities related to cost accounting, including journal entries, reconciliations, and accruals.
Budgeting and Forecasting
- Collaborate with operations and finance teams to develop and manage cost forecasts and budgets.
- Support budget-to-actual variance analysis and communicate key drivers of variances.
- Provide insights to support strategic decision-making and financial planning.
Process Improvement
- Identify areas for process improvements within cost accounting, propose solutions, and assist in implementation
- Develop and document processes to streamline cost accounting activities and improve accuracy.
Cross-functional Collaboration
- Work closely with operations, procurement, and inventory teams to ensure accurate cost allocation.
- Collaborate with auditors during financial audits to provide cost-related documentation and analysis.
- Assist in setting standard costs and reviewing cost discrepancies for better pricing strategies.
Compliance and Internal Controls
- Ensure adherence to GAAP and other regulatory requirements in cost accounting practices.
- Establish and maintain strong internal controls to safeguard company assets and promote financial integrity.
Qualifications:
- Education: Bachelor’s degree in Accounting, Finance, or related field (CPA or CMA designation preferred).
- Experience: Minimum of 5–7 years of experience in accounting, with a strong focus on cost accounting in a manufacturing or production environment.
Technical Skills:
- Proficiency in accounting software (Microsoft Dynamics., SAP, Oracle) Strong skills in Microsoft Excel (advanced formulas, pivot tables) and financial modeling.
- Knowledge: In-depth understanding of GAAP, cost accounting principles, and manufacturing costing.
- Analytical Skills: Exceptional analytical and problem-solving skills, with keen attention to detail.
- Communication Skills: Strong written and verbal communication skills, able to present financial insights effectively to non-financial stakeholders.
ABOUT BGS CONSULTING:
BGS Consulting is a professional services firm, located in Tysons Corner, VA, delivering finance and accounting resources with deep operational experience to fill the direct hire and project-based needs of our clients.