What are the responsibilities and job description for the Cost Accountant position at Wilson Tool International?
SUMMARY
The Cost Accountant is responsible for analyzing costs, assessing profitability, and providing strategic insights to optimize efficiency. They collaborate with departments to streamline processes, identify cost reduction opportunities, and ensure accurate financial records. Additionally, they support audits, stay updated on industry trends, and continuously seek to enhance cost management strategies. The Cost Accountant also constructs and monitors cost-effective data accumulation systems to provide management with relevant cost information. Completes special accounting projects with minimal supervision. Assists the Business Unit Leader – Accounting and Accounting Manager with projects and analysis as needed.DUTIES AND RESPONSIBILITIES
- Analyze actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs.
- Develop and maintain the cost accounting system, documents, and records of the organization.
- Collect and analyze data to determine costs of business activities such as raw material purchases, inventory, and labor.
- Analyze manufacturing costs and prepare regular reports comparing standard costs to actual production costs.
- Assist in month-end closing and prepare journal entries as necessary.
- Work closely with the operations team to analyze variances and resolve issues.
- Participate in budgeting processes.
- Conduct cost audits and prepare reports.
- Provide management with reports specifying and comparing factors affecting prices and profitability of products or services.
- Update standard costs in the bill of materials.
- Conduct month-end and year-end closing activities related to cost accounting.
- Maintain accurate records of inventory, production costs, and overhead expenses.
- Performs audits of cycle counting processes and to ensure accuracy of materials within ERP system.
- Review and recommend changes to existing accounting processes to improve efficiency and accuracy.
- Collaborate with engineering and production departments to develop accurate product costing and ensure alignment with business objectives.
- Ensure compliance with corporate policies, regulatory standards, and GAAP.
- Participate in cross-functional projects to improve cost efficiency and financial performance.
- Support internal and external audits by providing necessary cost documentation and explanations.
- Document and update procedures for all tasks. • Other related duties and projects as assigned.
REQUIRED QUALIFICATIONS
- Minimum of 3-5 years of cost accounting experience in a manufacturing environment.
- Experience with large-scale ERP system, preferably SAP.
- Strong understanding of cost accounting, general accounting, financial analysis, and reporting.
- Exceptional knowledge of accounting best practices, laws, standards, and state/national regulations, including Generally Accepted Accounting Principles (GAAP).
- Advanced knowledge of finance, accounting, budgeting, and banking.
- Proven mathematical and organizational skills.
- Ability to work independently and as part of a team.
- Highly skilled in maintaining accuracy and attention to detail.
- Ability to work with all levels of the organization, customers, and vendors.
- Strong verbal and written communication skills.
- Able to efficiently prioritize responsibilities to meet deadlines in a team environment.
- Capable of handling confidential information with discretion and professionalism.
- Proficient with MS Office Suite.
EDUCATION
- Bachelor’s degree in Accounting, Finance, Business, or a related field.
ATTRIBUTES
- Adaptability: Ability to adapt to changing work priorities and environments, demonstrating flexibility and willingness to take on different tasks as directed by the hiring manager.
- Communication Skills: Effective verbal and written communication skills, enabling clear and concise communication with team members and supervisors.
- Safety Consciousness: Commitment to adhering to safety protocols and procedures, ensuring a safe working environment for oneself and others.
- Desire for Learning & Continuous Improvement: Eagerness to learn and develop new skills, with a willingness to participate in training programs and pursue continuous improvement opportunities within the role. Actively seek opportunities to improve efficiency and productivity within assigned tasks, suggesting ideas for process enhancements or workflow optimization.
- Reliability: Dependability in fulfilling assigned tasks and responsibilities consistently, contributing to the overall efficiency and effectiveness of the team.
- Positive Attitude: A constructive and optimistic approach to challenges and tasks, fostering a supportive and encouraging work environment.
- Team Player: Ability to collaborate effectively with colleagues, demonstrating respect, empathy, and cooperation in achieving shared goals.
- Problem-Solving Skills: Capacity to approach issues or obstacles with creativity and resourcefulness, seeking practical solutions to improve processes and outcomes.
- Professionalism: Conducting oneself with professionalism and integrity, adhering to ethical standards and company policies in all interactions and activities.
PHYSICAL DEMANDS
The physical demands and work environment are representative of those that must be met by the employee to successfully perfor m the essential functions of the job. In addition to continuous sitting and working on a computer, the role may involve continuous reaching forward between shoulder/waist, bending/twisting/rotating, and simple grasping and writing. Occasional exposure to an indoor manufacturing environment, chemicals, and/or fumes may occur. The ability to stand and walk frequently and occasionally lift and carry up to 25 lbs. is required.WORK ENVIRONMENT
Office Environment and Manufacturing PlantAvailability for business travel is required, estimated at 10%
WORK SCHEDULE
Full-time position with standard Monday through Friday schedule.Standard work hours apply, with occasional evening or weekend hours expected. Additional hours may be necessary during peak periods.
COMPENSATION
Salaried compensation based on experience
EQUAL OPPORTUNITY EMPLOYER
Wilson Tool is an equal opportunity/affirmative action employer Women, minorities, individuals with disabilities, and veterans are encouraged to apply.This job description is not an employment agreement or contract. Management has the exclusive right to alter this job description at any time without notice.