Job Title: Cost Accountant
Responsible for: Designing, monitoring and maintaining cost accounting systems and processes to enhance the profitability of the company and to support make versus buy and investment decisions.
Responsible to: Jo Tea
Key Tasks and Responsibilities are defined as:
- Design and maintain robust Cost Accounting System
- Analyse fixed, variable and semi-variable costs and assign these costs to manufacturing processes and activities in order to establish accurate standard costs and overhead absorption rates to accurately measure the true cost of manufactured parts
- Review activity based costing, standard costs and overhead absorption rates at least quarterly and update regularly to reflect changes in production overheads, manufacturing processes and changes in input costs
- Analyse actual manufacturing costs and report monthly comparing standard costs to actual production costs
- Investigate significant variances between actual manufacturing costs and standard costs and where necessary work with the plant manager to implement appropriate controls over plant expenditure
- Review profitability of existing parts using latest standard cost data and make recommendations to improve overall profitability to local management on a part by part basis
- Work with local commercial and engineering teams to accurately cost new parts and to support the make versus buy decision making process
- Establish and publish KPIs to monitor plant utilisation, efficiency and profitability
- Analyse changes in product design, raw materials, and manufacturing methods to determine effects on cost
- Work with local management to fully justify significant capital expenditure requests
- Assist in Month end close of the General Ledger – specifically assume responsibility over raw material, WIP and finished goods inventory valuations
- Conduct physical inventories and monitor cycle counts
Key Skills and Competences:
- Minimum of 2 solid years of Cost Accounting experience in a Manufacturing Environment
- Must have a strong Cost systems background and have excellent analytical skills; sound understanding of accounting principles
- Computer Literate – Strong Excel skills and the ability to use Outlook and Word
- Experience with Masterplan a plus
- Experience working with engineering and manufacturing personnel on development and analysis of cost standards
- Thorough knowledge of accounting procedures and cost control
- In-depth understanding of Generally Accepted Accounting Principles (GAAP)
- Integrity, with an ability to handle confidential information
Health and Safety
- Recognise the importance of good health and safety practice.
- Ensure that working conditions and the use of resources satisfy current legislation, approved codes of practice and organisational requirements.
- Ensure accidents and near misses are reported.
- Ensure that potential or actual breaches of requirements are identified, properly reported and appropriate action is taken