Accountant, Cost

ASSA ABLOY•Carrollton, TX

About The Position

Position Summary: The Cost Accountant reports to the Corporate Controller and is responsible for supporting cost accounting practices, enhancing financial accuracy, and developing and maintaining the manufacturing cost systems for the respective plants. This role involves analyzing costs, assisting in budget development, and implementing cost control measures. The Cost Accountant will have primary day-to-day responsibility to ensure that product costing is accurate, inventory is valued properly, and property accounting accurately reflects the appropriate position on the balance sheet. Works with Plant Accountants for reporting, budgeting, forecasting, and variances analysis for the plants as well as assisting in production analysis and capital spending justification.

Requirements

Bachelor’s Degree in Accounting, Finance, Business or related discipline.
5+ years of work experience in general accounting and/or cost accounting functions.
3-5 years of cost accounting experience in a manufacturing environment.
Experience working with engineering and manufacturing personnel on development and analysis of cost standards.
Exposure/experience related to property accounting.
Computer proficiency including word processing, data entry, spreadsheets, and generating reports using standard software applications.
Advanced/Intermediate skill level with Microsoft Office Suite; Word, Excel, Project, and PowerPoint preferred.
Excellent attention to detail.
Highly proficient in financial modeling.
Ability to create advanced reports in Excel.
Working knowledge of budget development.
Strong critical thinking and decision making skills.
Strong math skills and above average analysis capability.
Must be a team player who also works well independently.
Strong analytical, administrative, and problem-solving skills.
Willingness to be out in the plants partnering with operations.
Thorough understanding of company product and manufacturing processes.
Understanding of U.S. GAAP as it applies to a manufacturing environment.
Solid understanding of manufacturing operations, inventory, and cost accounting.
Ability to accurately prepare daily, weekly, monthly, quarterly and annual reports.
Excellent organizational skills and ability to multi-task in a changing environment.
Demonstrated ability to adhere to time-sensitive due dates for various reporting needs.
Must be able to analyze data, draw conclusions, interpret results, and make recommendations.
Listen well, ask relevant questions, and give and receive clear and understandable instructions.
Advanced understanding and working knowledge of basic accounting principles and procedures.
Ability to compile, analyze, interpret and present financial reports, statements, and/or projections.
Ability to work with and support the Corporate Controller in completion of their day-to-day activities.
Must be self-motivated, goal oriented, quality-driven, and capable of working with minimum supervision.
Demonstrated ability to contribute to financial discussions and address company needs in a proactive manner.
Must demonstrate commitment, innovation, perseverance, professionalism, self-discipline, and teamwork skills.
Ability to prioritize multiple tasks, work effectively within time constraints and deadlines, and maintain composure.
Must possess integrity and be able to manage confidential information with the utmost care, security, and discretion.
Proficiency in general accounting functions including monthly, quarterly, year-end closing, budgeting, and forecasts.
Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Excellence in interpersonal and communication skills, including writing and making effective presentations to internal and external top management officials.
Ability to travel up to 25% of the time to field locations.
Requires a valid motor vehicle operator’s license and the ability to operate a motor vehicle while carefully observing all traffic rules and regulations.
Requires the ability to use a variety of office/production related equipment such as a telephone and photocopier.
Work beyond the traditional 40 hours per week may be required as workload or projects dictate, including weekends and holidays.

Nice To Haves

Experience in manipulating large databases a plus.
Significant hands-on experience using an integrated ERP system.
A recognized Accounting/Finance designation (CPA, CGA, CMA) is preferred.

Responsibilities

Lead Cost Accounting activities.
Maintain cost accounting system that ensures accurate costing including supporting the maintenance of cost accounting policies and procedures .
Perform cost-benefit analyses for various projects and initiatives to determine financial viability and impact.
Understand and monitor facility work center costs to ensure continuous improvement and accuracy in the 4Front quote model.
Assist in the creation of business plans, financial models, and other analyses related to new business initiatives.
Work on developing cost forecasts and projections to support strategic planning and decision-making processes.
Establish benchmarks for various business processes and then compare them against actual costs to identify and explain variances.
Utilize historical data and cost analysis to help predict future costs and revenue, supporting budgeting and financial planning.
Calculate and update standard costs and the standard cost sheet (Direct Materials, Parts, Products) and ensure accuracy in the Bill of Materials (BOMs).
Lead the Cost Roll process working with procurement, materials management, and plant accounting to update standard costs annually.
Study and collect data to determine costs of business activities such as raw material purchases and inventory.
Collaborate with supply chain and procurement teams to manage and optimize costs related to materials and suppliers.
Lead the update and maintenance of product costing modules in the ERP including the development of required reports.
Contribute to the development of accurate cost estimates for new/proposed products and product changes to support pricing decisions.
Provide cost review and ERP system cost rollup for new products.
Develop keen understanding of the ERP system product costing including standard cost routing and bills-of-material.
Work collaboratively with the Operations, Sales, and Engineering teams to understand and analyze product costs.
Study, calculate, and update standard costs and the standard cost sheet for Labor, Overhead, and Production Operating activities.
Track and evaluate all expenses related to operations, such as production, labor, shipping, and administration.
Assist in the analysis of manufacturing processes to identify opportunities for efficiency improvement, cost reduction, and increased profitability.
Assist management with interpretation of production performance including ERP data extraction as necessary.
Monitor transactions pertaining to the production of parts. Ensure those transactions (i.e., DMR transactions, cycle-count adjustments, etc.) are accurately captured within internal reporting and general ledger.
Lead the completion of time and motion studies to accurately determine the cost of labor and improve labor cost optimization and productivity.
Validate and control material price changes.
Develop process to ensure customer pricing changes occur as appropriate to material price changes.
Work with Sales to develop a procedure to audit monthly customer invoiced prices.
Update ERP system for annual budget standard costs.
Assist in budget development for plant sales, costs, and departmental expenses. This includes target setting, target management, discussions with department heads and loading results into consolidations systems.
Develop (in conjunction with IT) new systems as needed for tracking expenses and comparing them to expected results.
Support department heads in analysis of departmental variances to approved budgets.
Generate detailed cost reports and analyze them to ensure accuracy and compliance with established accounting standards.
Prepare timely and accurate weekly, monthly, and quarterly reports of inventory, costs of goods sold, Purchase Price Variance, Part Margin analysis, Material Check Program Reconciliation including the revaluation of inventory related to surcharges and exchange rate fluctuations, and other financial data.
Verify accuracy in operational reports related to inventory costing accuracy and KPIs.
Prepare, analyze, and report monthly gross margin analysis by customer, part number, and production jobs.
Analyze changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
Analyze actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs.
Analyze spending and assist in variance analysis for manufacturing environment, including materials, labor, and overhead.
Provide management with reports specifying and comparing factors affecting prices and profitability of products or services.
Lead or actively participate in continuous improvement efforts which include quarterly profit margin analysis.
Develop, improve, and/or maintain a variety of financial models that facilitate the analysis of financial data. Such frameworks include but are not limited to: Machine Rates, Activity-Based Quoting.
Prepare detailed reports on cost structures, performance against budgets, and present findings and recommendations to management and other stakeholders.
Assist with the annual physical inventory process.
Responsible for account reconciliation of physical inventories and cycle counts.
Prepare periodic inventory reserves and material resale program reconciliation, analyzing inventory for risk, and monitoring with support from internal stakeholders.
Monitor the cycle count program via weekly cycle count audits to improve inventory accuracy.
Prepare periodic Scrap Variance Reports to submit to the Corporate Controller for consolidation.
Monitor scrap credit agreements and verify accuracy for accruals.
Maintain tooling inventory, costing, and billings. Perform profitability analysis on same.
Assist in month-end and year-end closing of the General Ledger by analyzing inventory and preparing supplemental reports as needed.
Support the external audit process. Communicate and provide support to external auditors for completion of quarterly reviews and annual audit.
Assist with documentation needed for R&D credits.