Cost Accountant

ITS has partnered with a world leading manufacturing company based in Rochester to recruit a Cost Accountant.

Company Summary:

Our client has deep roots and a rich history, becoming one of the leading manufacturing companies in electronic, mechanical, optical, and software technologies for various measuring systems.

Our clients’ products are particularly well suited to the unique challenges of medical device manufacturing, offering FDA compliant software and installation and operational qualification services.

Position Summary:

The Cost Accountant reports directly to the CFO and is responsible for planning, studying, collecting, and entering data into the ERP database determining costs of business activities, including purchases of raw materials, inventory, overhead, and labor costs.

The Cost Accountant analyzes actual manufacturing costs and prepares periodic variance reports by comparing standard costs to actual production costs. Along with being involved in managing fixed assets/property plant and equipment and preparing and filing of sales and use tax returns.

Role and Responsibilities:

• Maintaining item cost data within the ERP software system platform.
• Updating items after initial setup to have cost estimates of new and/or special products for establishing selling prices and production forecasts.
• Maintaining source and cost type changes on all items.
• Responsible for routine compilation of parts manufacturing costs for inventory accountability, distribution of factory labor, verification of actual costs and computation of variances.
• Entering department labor and OH rates as needed annually in conjunction with biannual cost roll when approved by CFO.
• Maintaining item product codes and associated markups for transfer and selling prices.
• Interfacing with Purchasing, Manufacturing and Engineering Departments to establish achievable standards costs by reviewing vendor quote information and labor times and materials entered into Bills of Manufacture (BOMs).
• Knowledge of Transfer Pricing, current rules, techniques, and requirements.
• Assisting in month-end closing, preparing journal entries as necessary, analyzing inventory valuation, inventory roll forward.
• Preparing all fixed asset account reconciliations monthly and well as fixed asset entry and maintenance of company-wide depreciation expenses.
• Working with manufacturing departments as needed to prepare new and maintain existing Cost Accounting work instructions, have updated in the Document Management System (DMS) as per ISO 9001 regulations.
• Coordinating with IT department for system issues, maintenance, and development.
• Analyzing cost accounting data and interface with the purchasing dept on monthly reviews of purchase price variance (PPV) activity and on make versus buy decision options.
• Maintaining internal control documentation and test internal controls, system and procedural.
• Reviewing and analyzing inventory and margin reports, conducting research and performing analytical studies in regard to cost analyses and profitability.
• Ensuring timely submission, accuracy and validity of inventory, gross margin schedules to management.
• Serving as a key resource for duty drawback project, and ability to recoup duty and tariff costs for International purchased parts included in machines that are sold outside of the USA.
• Working with manufacturing, engineering and R & D personnel to capture all prototype/R & C costs, and record those costs as R & D expenses, relieving manufacturing overhead of such costs.
• Performing ad hoc analyses and other tasks requested by management for review.

Qualifications and Requirements:

• Bachelor’s degree in Accounting, Finance, or related field required.
• 5+ years of cost accounting experience in a manufacturing environment required.
• Planning and buying experience in a manufacturing setting is desirable.
• Technical skills in accounting, reconciliation of cost analysis, big data analytics.
• Ability to plan and manage multiple projects.
• Problem analysis and resolution with attention to detail.
• Strong team player.
• Excellent interpersonal and communication skills.
• Proficient skills in Microsoft Office Software.