Cost Accountant

Job Title: Cost Accountant

Department:Finance

Reports To: Controller

EEO Job Category: Professionals

FLSA: Exempt

Range: 2

Location: Onsite or Hybrid

Date: June 2024

Job Summary/Objective:

The Cost Accountant plays a crucial role in analyzing and managing the company's costs, ensuring accurate financial reporting, and identifying opportunities for cost reduction and efficiency improvement. This position is responsible for the preparation, analysis, and reporting of cost data for both Chroma and 89 North, assisting management in making informed business decisions. Key responsibilities include developing cost standards, implementing cost systems, and ensuring the accuracy of financial records.

This role requires collaboration with various departments across the organization, including our subsidiary, 89 North, to ensure accurate inventory records, explain and document variances, and identify and eliminate areas of waste.

Primary Responsibilities and Essential Functions:

• Develop, implement and maintain cost accounting systems, procedures and records
• Develop and maintain standard costs for manufactured and purchased items
• Calculate direct labor and overhead rates by work center
• Cost all jobs to determine profitability and ensure accurate pricing
• Prepare and analyze cost reports, identifying and researching trends and variances
• Identify areas for cost reduction and work with the appropriate people to develop strategies and procedures to control those areas
• Ensure accurate cost allocation
• Provide detailed cost information to management for decision-making
• Analyze financial performance and profitability of products
• Analyze yield to optimize production efficiency
• Support Sales in determining proper pricing to maintain competitive and healthy profit margins
• Prepare inventory valuation and ensure inventory records are accurate and complete
• Assist in preparation of annual budgets and financial forecast
• Ensure compliance with accounting standards and internal control procedures
• Perform ad-hoc analysis and reporting as needed

Secondary Responsibilities:

• Monthly bank reconciliation
• Month end close for subsidiary 89 North, Inc including allocations, accruals, sales tax and financial statements

Physical Demands:

• Enter data into computer systems and/or produce documents, typically utilizing a computer keyboard
• Close vision for computer work
• Communicate with (specify internal/external customers and/or vendors) utilizing phone
• Regular, predictable attendance to ensure availability to (insert either internal customers, external customers, and/or direct reports here)
• Ability to sit and/or stand at work station for extended periods of time

Additional Job Responsibilities for All Employees-Owners:

• Protects the company by adhering to standards and procedures, participating in safety and security training, being diligent about the handling of company data, and reporting all safety and security concerns
• Learn and keep yourself informed by asking questions and attending Company meetings, Board meetings, reading corporate emails and communication
• Adopt an entrepreneurial attitude to help ensure the Company's success; including innovation, customer focus, problem solving, cost containment and commitment to quality
• Adhere to all other responsibilities as defined in the Rights and Responsibilities for All Employee Owners at Chroma Technology found in the Employee Handbook

Required Education, Experience, and Eligibility Qualifications:

• Minimum five years of cost accounting experience, preferably in manufacturing
• Expert-level proficiency in Microsoft Excel
• SQL knowledge
• Strong ability to analyze and resolve problems
• Report writing experience
• Excellent attention to detail and follow-through on projects
• Ability to organize projects and work independently
• Self-starter, detail oriented, independent worker
• Ability to organize and manage multiple priorities
• Ability to work effectively with all individuals/groups within the organization
• Excellent interpersonal skills