Address
Form of workA Cost Accounting Specialist plays a crucial role in a company's finance department, focusing on managing and analyzing cost-related data to support financial decision-making and operational efficiency. This role involves collecting, evaluating, and reporting cost-related information to help the organization control expenses and improve profitability.
Key Responsibilities:
Cost Analysis: Analyze cost data, including direct and indirect costs, to identify trends, cost drivers, and areas for cost reduction. Conduct variance analysis to compare budgeted and actual costs, providing insights to management.
Cost Data Management: Maintain and update Cost Accounting records and databases, ensuring accuracy and completeness. Allocate costs to products, projects, or departments, and maintain cost allocation methods.
Budgeting and Forecasting: Collaborate with the finance team to develop cost budgets and forecasts, providing insights and recommendations to support financial planning.
Product Costing: Calculate and maintain product or service costs, considering materials, labor, overhead, and other relevant factors. Assess the profitability of products or services and recommend pricing adjustments.
Inventory Valuation: Monitor inventory levels and perform regular inventory valuation to ensure accurate financial reporting. Assist in reconciling inventory discrepancies and addressing cost-related issues.
Cost Control: Identify cost-saving opportunities and implement cost control measures, working with relevant departments to drive efficiency. Review and analyze cost reports, recommending cost-cutting strategies.
Financial Reporting: Prepare and present cost-related reports and analyses to management and stakeholders, ensuring compliance with accounting standards and regulations.
Compliance and Audit: Assist in internal and external audits related to Cost Accounting, providing necessary documentation and explanations.
Process Improvement: Continuously evaluate and improve Cost Accounting processes and systems to enhance accuracy and efficiency. Implement best practices and recommend technology solutions to streamline Cost Accounting operations.
Qualifications:
- Minimum of a high school diploma; an associate degree in accounting or related field is a plus.
- Experience in Healthcare preferred.
- Proven experience in Cost Accounting or a related role, preferably in a manufacturing or production environment.
- Strong knowledge of accounting principles, Cost Accounting methodologies, and financial analysis.
- Proficiency in using accounting software and Microsoft Excel for data analysis.
- Excellent attention to detail and problem-solving skills.
- Strong communication and interpersonal skills.
- Ability to work independently and collaboratively with cross-functional teams.
- Knowledge of relevant regulatory and compliance standards.
- Strong organizational and time management skills.
Banyan is an equal opportunity employer. Banyan will not discriminate against any applicant for employment on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Reasonable Accommodation: If you need a reasonable accommodation for any part of the employment process, please contact us and let us know the nature of your request. We will accommodate the needs of any qualified candidate who requests a reasonable accommodation under the Americans with Disabilities Act (ADA).
