Sr Cost Accountant

Baylor Genetics•,

About The Position

The Senior Cost Accountant is responsible for managing test costing, inventory valuation, and ensuring the accurate financial posting of inventory-related transactions. This role plays a key part in supporting the monthly financial close, cycle counts, and physical inventory processes. The Senior Cost Accountant will partner closely with Supply Chain and Operations teams to maintain compliance with US GAAP and ensure proper accounting practices are followed throughout the inventory management process. The Senior Cost Accountant is responsible for test costing and analysis, inventory valuation, and the accuracy of inventory-related financial postings. This role partners closely with Supply Chain and Operations to maintain robust item master data, ensure consistent application of costing policies, and provide actionable insights through variance and trend analysis. The Senior Cost Accountant supports month-end close activities related to inventory and cost of sales, leads cycle counts and physical inventory coordination, and helps strengthen processes and internal controls to ensure compliance with U.S. GAAP.

Requirements

Bachelor’s degree in Accounting, Finance, or a related field.
3+ years of accounting experience with at least 1–2 years in a manufacturing, assembly, laboratory operations, or inventory-management environment.
Hands-on experience with inventory accounting, inventory valuation, and cost accounting (standard costing and/or actual costing).
Strong understanding of how supply chain and operational workflows translate to financial results (inventory, cost of sales, reserves, and capitalization).
Demonstrated aptitude for problem-solving, data analysis, documentation, and timely research/resolution of discrepancies.
Advanced Excel skills required; comfort working with large datasets and building repeatable analyses.
ERP proficiency required.
Excellent written and verbal communication skills; ability to collaborate cross-functionally and present findings to varying audiences.

Nice To Haves

CPA or CMA a plus.
NetSuite experience strongly preferred.

Responsibilities

Maintain accurate item master data in the ERP for inventory-related attributes (e.g., units of measure, locations, costing method, and standard cost fields).
Support month-end close for inventory and cost of sales, including journal entries, reconciliations, and complete supporting documentation.
Own the inventory adjustment control process: establish review/approval thresholds, monitor activity, and ensure adjustments are properly supported and recorded.
Coordinate cycle counts and periodic physical inventories; investigate variances and drive resolution with Operations and Supply Chain.
Monitor aging/turnover and partner with stakeholders to assess excess/obsolete risk; calculate and record reserves/impairment as needed in accordance with U.S. GAAP.
Own the standard cost process end-to-end, including update cadence, inputs/assumptions, cross-functional coordination, and documentation of changes and approvals.
Plan and execute periodic standard cost updates/rolls in the ERP; validate results, troubleshoot issues, and ensure downstream impacts (inventory valuation and cost of sales) are understood and communicated.
Evolve inventory accounting and the general ledger structure to improve visibility into inventory-related variances (e.g., purchase price, usage/yield, write-offs), including defining variance accounts and establishing consistent booking rules.
Develop and maintain cost-per-test reporting, including key inputs/assumptions, reconciliations to the general ledger, and clear variance bridge from standard to actual cost.
Maintain and improve inventory costing policies to ensure they are clearly defined, consistently applied, and appropriately documented.
Partner with Operations and Supply Chain to develop accurate cost estimates for new tests and modifications to existing tests; maintain a repeatable model and assumptions library.
Analyze testing/production costs and prepare reporting comparing standard to actual; identify drivers and recommend corrective actions (e.g., yield, usage, price, mix, and volume variances as applicable).
Perform and explain cost variance analysis; maintain accurate schedules and reconciliations that tie operational activity to financial results.
Scrutinize costing and inventory transaction data to identify trends, anomalies, and control gaps; propose process improvements and automation opportunities.
Support audit and internal review requests by providing timely, organized documentation for cost accounting methodologies, standard cost changes, and inventory valuation.
Contribute to a culture of integrity and service by putting the customer first, treating colleagues with respect, and conducting business with the highest standards of professionalism.
Perform other job-related duties as assigned to support the team and business needs.