Cost Accountant

Company Overview

Privately held, food product manufacturer in the New Haven County-Fairfield County, CT corridor has over 20 straight quarters of period-over-period revenue growth and a CAGR over 20% over the last 4 years. This company has the most award-winning premium U.S. brand in its category, and the overall U.S. category has grown revenue over 40% in the last 8 years. The company has more than doubled production and distribution capacity at multiple locations to scale and support increased demand. The company invests in continuous improvement, automation, and state-of-the-art equipment to produce its high-quality, premium food products. Distribution channels include national retailers, direct-to-consumers, club stores, traditional supermarkets, and the food service industry. Since its inception, the company has a strong commitment to sustainability and using only the freshest all-natural ingredients in crafting its food products.

Cost Accountant | Job Description

The Cost Accountant will be responsible for managing and analyzing the costs associated with the production of goods and services. This role ensures that the company's cost structure is accurately recorded and monitored, providing critical insights into the cost-efficiency of operations. The Cost Accountant will work closely with the finance and operations teams to deliver regular financial reports, suggest improvements in cost management, and support budgeting and forecasting activities.

Cost Analysis and Reporting:

• Track and report on costs related to production, inventory, and operations.
• Prepare and analyze cost reports, including monthly, quarterly, and annual cost statements.
• Perform costing scenarios and associated analytics to understand key drivers to costs and associated variances.
• Perform volume, price and mix analysis.
• Provide cost forecasts to aid in financial planning and budgeting processes.

Inventory Management:

• Conduct regular inventory checks and reconcile discrepancies.
• Monitor and evaluate the cost of inventory and supplies, ensuring accuracy in valuation.
• Maintain records of raw materials, work in progress (WIP), and finished goods costs.

Product Costing:

• Calculate and track product costs, including direct and indirect costs.
• Develop and maintain cost models for pricing strategies and margin analysis.
• Assist in determining standard costs and perform cost variance analysis.

Budgeting & Forecasting:

• Collaborate with relevant departments to create annual cost budgets and forecasts.
• Monitor budget adherence, analyze deviations, and provide recommendations for cost control measures.

Cost Control:

• Identify and recommend opportunities for cost reduction and process improvement.
• Work with operational teams to implement cost-saving initiatives.
• Evaluate cost efficiency in production processes and recommend corrective actions.

Financial Reporting:

• Assist in the preparation of financial statements, focusing on cost-related components.
• Contribute to the preparation of management reports and cost performance dashboards.

Compliance and Auditing:

• Ensure compliance with financial regulations and company policies.
• Support internal and external audits by providing necessary documentation related to costs and inventory.

System Management and Improvements:

• Assist in the development and implementation of cost accounting systems or software.
• Maintain accurate records in the accounting system for all cost-related transactions.

Cross-Functional Collaboration:

• Collaborate with production, purchasing, and other departments to ensure accurate cost allocations.
• Provide financial insight during project or product development phases to ensure cost efficiency.

Qualifications

• Education: Bachelor’s degree in Accounting, Finance, or related field. A certification such as CPA or CMA (Certified Management Accountant) is a plus.
• Experience: 5-7 years of experience in cost accounting or related roles, preferably in manufacturing or production environments.

Skills:

• Strong knowledge of cost accounting principles and practices.
• Proficiency in accounting software (e.g., Dynamics 365, SAP, Oracle, QuickBooks, etc.).
• Advanced Excel skills (pivot tables, VLOOKUP, financial modeling).
• Strong analytical and problem-solving abilities.
• Good communication skills to work with cross-functional teams.

Abilities:

• Attention to detail and accuracy in financial reporting.
• Ability to work under pressure and meet deadlines.
• Strong organizational and time management skills.