What are the responsibilities and job description for the Cost Accountant position at POWEREX, INC.?
Job Details
Job Description
Primary Functions: The Cost Accountant will be responsible for ensuring accurate inventory valuation, identifying risks, and maintaining controls in accordance with generally accepted accounting principles.
Key Responsibilities:
- Monitor inventory transactions for discrepancies and investigate any outliers.
- Assess inventory for obsolete and slow-moving parts, ensuring adequate reserves.
- Reconcile inventory reports from the ERP to the general ledger on a monthly basis.
- Calculate and prepare monthly journal entries for scrap material.
- Review inventory held at suppliers for reasonableness each month.
- Address negative quantities in perpetual inventory reports.
- Perform inventory price testing to ensure accurate valuations.
- Review and update standard costs in the ERP system.
- Calculate the full absorption ratio monthly and compare it to the general ledger, preparing adjusting journal entries as needed.
- Other duties as assigned.
Reporting:
- Provide financial analysis as needed and assist with the preparation of monthly and annual financial statements.
- Recommend benchmarks for measuring company performance.
Compliance:
- Ensure adherence to accounting policies related to inventory and recommend changes as necessary.
- Monitor daily cycle counts and participate in counts if needed.
- Assist with annual financial audits and physical inventory counts.
Scope and Purpose: In a small business setting, the Cost Accountant may be required to perform additional duties beyond traditional cost accounting responsibilities.
Job Qualifications
Education Requirements:
- Bachelor’s Degree in Accounting, Finance, or equivalent.
Experience Requirements:
- Experience in accounting, financial analysis, and with a manufacturing company is a plus.
At Powerex, we are dedicated to equal employment opportunity. We provide a workplace that values diversity and prohibits discrimination based on race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. We are committed to fair employment practices and creating an inclusive environment where all employees and applicants are treated with respect and given equal opportunities for growth and advancement.
