Cost Accountant

COST ACCOUNTANT

Main Function

Responsible for the reduction of a company's financial waste and increasing profits. Duties include determining actual costs of manufacturing or providing a service, scrutinizing associated company expenses, analyzing profitability and preparing the company budget.

Duties and Responsibilities:

• Plans, studies, and collects data to determine costs of business activity such as raw material purchases, inventory and labor.
• Analyzes data collected and records results
• Prepares monthly reconciliation & reports such as Cost sheet, Gross Profit, Production Volume & Estimated Product cost.
• Reviews material issuance to production, rejections and yield rate in a monthly basis
• Establish process flows that have direct/ indirect effect in product cost.
• Computes Estimated Landed Cost of the imported items
• Creates and reviews controls needed for data accumulation and reporting systems
• Analyzes changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost
• Analyzes actual manufacturing costs and prepares periodic reports comparing standard costs to actual production costs
• Records cost information for use in controlling expenditures
• Prepares estimates of new and proposed product costs
• Provides management with reports specifying and comparing factors affecting prices and profitability of products or services.
• Maintains and updates Cost Accounting System
• Assists in Month end close of the General Ledger (Entries of Indirect Materials/ Consumables used in Production & warehouse)
• Validate the cost of goods sold as part of the month-end close
• Supervises in the conducts physical inventories and monitors cycle count program
• Investigates cycle counting variances and resolve issues
• Reconciles finished goods inventories
• Investigates cycle counting variances and resolve issues
• Updates standard costs in the bill of materials
• Reviews standard and actual costs for inaccuracies
• Accumulates and applies overhead costs as required by generally accepted accounting principles
• Works with the Materials Review Committee to locate and dispose of obsolete inventory
• Prepares annual companywide budget and long range financial projections.

• Candidate must possess Bachelor's Degree in Accountancy preferably a Certified Public Accountant (CPA)