Cost Accountant Job Description

A cost accountant is an accountant who specializes in analyzing costs related to accounting, budgeting, taxation, and other financial activities.

Cost accountants typically work within a corporation’s finance department.

They analyze costs related to accounting and are assigned the responsibility of making recommendations that reduce costs and maximize profits.

Cost accountants’ duties range from cost-of-goods-sold analyses to developing budgets.

The job of a cost accountant also includes analyzing and recommending ways to reduce inventory levels.

For example, if cost accountants believe that a company does not need to purchase inventory in December, they may recommend that the company not purchase any inventory in December

Updated on:     
September 15, 2022

Job Brief:

We're looking for a Cost Accountant to join our team. The ideal candidate will have experience in cost accounting and be able to provide accurate and timely financial information.

Cost Accountant Duties:

  • Assist in monitoring project progress on a regular basis
  • Calculate project costs and compare them to original estimates
  • Assist in preparation of cost reports and budget adjustments
  • Use appropriate cost estimating methods, such as ABC or CPM, to determine construction costs
  • Develop and maintain specific cost control systems for a new construction project
  • Prepare cost estimates for project development
  • Identify, compile and analyze data
  • Report and summarize findings

Cost Accountant Responsibilities:

  • Prepare weekly, monthly, and quarterly financial reports by compiling and analyzing operating and financial data and trends; coordinating with payroll and accounting staff on cost-related questions
  • Maintain accurate inventory data by reviewing physical counts, invoices, and purchase orders
  • Validate vendor invoices, purchase orders, and job costing reports
  • Instruct, train, and motivate subordinates, and participate in performance evaluations
  • Perform other job-related duties as required

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Requirements And Skills:

  • Bachelor’s degree in accounting or related field
  • 3+ years’ relevant cost accounting and/or budgeting experience including leadership experience
  • Ability to work effectively across multiple departments
  • Strong analytical skills and demonstrated ability to communicate with all levels of management

At [Company Name], we believe that diversity and inclusion are critical to our success as a business. We are committed to building a team that is representative of the communities we serve, and we welcome applications from people of all backgrounds, experiences, and perspectives.

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