What are the responsibilities and job description for the Cost Accounting Manager position at LHH?
Our client is seeking a highly skilled and experienced Cost Accounting Manager to join their manufacturing company located in the North suburbs of Chicago. The Cost Accounting Manager will play a pivotal role in ensuring accurate costing of products, analyzing manufacturing processes, and providing valuable insights to enhance profitability and efficiency within the organization. This position requires strong analytical abilities, attention to detail, and excellent communication skills to collaborate effectively with various departments.
Responsibilities:
- Cost Analysis:
- Oversee the development and maintenance of standard costing systems for all products manufactured by the company.
- Analyze manufacturing costs and variances to identify areas for improvement and cost-saving opportunities.
- Conduct regular reviews of inventory valuation, ensuring accuracy and compliance with accounting standards.
2. Budgeting and Forecasting:
- Assist in the development of annual operating budgets and forecasts, particularly focusing on manufacturing costs and overhead expenses.
- Provide support in analyzing budget variances and preparing reports for management review.
3. Inventory Management:
- Manage inventory accounting processes, including valuation, reconciliation, and periodic physical counts.
- Collaborate with production and procurement teams to optimize inventory levels and minimize carrying costs while ensuring adequate supply to meet demand.
4. Financial Reporting:
- Prepare accurate and timely financial reports related to manufacturing costs, inventory, and other relevant metrics.
- Assist in the preparation of financial statements and disclosures for internal and external reporting purposes.
5. Process Improvement:
- Identify opportunities to streamline manufacturing processes and improve cost efficiency.
- Work closely with cross-functional teams to implement process enhancements and best practices.
6. Compliance:
- Ensure compliance with relevant accounting standards, regulations, and internal policies.
- Support internal and external audits by providing necessary documentation and explanations related to cost accounting matters.
7. Team Leadership:
- Lead and mentor a team of cost accountants, providing guidance and support to foster professional growth and development.
Qualifications:
- Bachelor's degree in Accounting, Finance, or related field; CPA or CMA designation preferred.
- Minimum of 5 years of experience in cost accounting, preferably in a manufacturing environment.
- Strong understanding of cost accounting principles, including standard costing, variance analysis, and inventory valuation.
- Proficiency in ERP systems and advanced MS Excel skills.
- Excellent analytical and problem-solving abilities.
- Effective communication skills, with the ability to interact with individuals at all levels of the organization.
- Leadership experience and ability to manage a team effectively.
