Cost Accountant

About the role

The Cost Accountant at Norma Precision, Inc. supports operational efficiency, inventory accuracy, and financial performance through the analysis, monitoring, and reporting of manufacturing costs. This role works closely with various departments to provide accurate cost data and actionable insights.

Responsibilities

• Maintain and analyze standard costs for raw materials, work-in-process, and finished goods.
• Perform monthly inventory reconciliations and ensure inventory records are accurate and complete.
• Analyze manufacturing variances, including labor, material usage, scrap, overhead, and production efficiencies, and provide recommendations for improvement.
• Monitor and maintain Bills of Material (BOMs), routings, and production costing structures within the ERP system.
• Support month-end, quarter-end, and year-end financial close activities related to inventory and cost accounting.
• Prepare journal entries and reconcile general ledger accounts related to inventory, manufacturing costs, and cost of goods sold.
• Conduct cycle count and physical inventory audits and investigate inventory discrepancies.
• Collaborate with Production, Quality, Purchasing, and Operations teams to identify cost-saving opportunities and improve profitability.
• Aid in the development and monitoring of manufacturing budgets, forecasts, and annual operating plans.
• Prepare financial analyses and reports regarding production costs, margins, labor utilization, and manufacturing performance metrics.
• Support internal and external audits by providing requested documentation and analyses.
• Evaluate the financial impact of process improvements, capital investments, and operational changes.
• Assist with implementation and maintenance of inventory controls and accounting procedures.
• Ensure compliance with company policies, accounting standards, and internal controls.
• Perform special projects, analyses, and other duties as assigned.

Qualifications

• Bachelor's Degree in Accounting, Finance, or related field.
• Three to five years of accounting experience, preferably in a manufacturing environment.
• Experience with inventory accounting, standard costing, and cost analysis.
• Experience using ERP systems in a manufacturing setting.

Skills and Abilities

• Strong understanding of cost accounting principles, inventory accounting, and manufacturing operations.
• Advanced Microsoft Excel skills including pivot tables, lookups, and financial modeling.
• Ability to analyze large data sets and present meaningful conclusions to management.
• Strong analytical and problem-solving skills.
• Excellent verbal and written communication skills.
• Highest level of detail orientation and exceptional organizational abilities.
• Ability to work independently and collaboratively in a fast-paced manufacturing environment.
• Ability to maintain confidentiality of financial and operational information.
• Strong understanding of internal controls and financial reporting requirements.