Cost Accountant / Inventory Audit Manager
We are working with a well- established (85+ years) growing, family-owned and operated, ISO 9001, and leading USA manufacturer of protective apparel for the industrial worker in the toughest industries. The company has more than a dozen brands for products including protection for heat and thermal, flash fire, arc flash hazard, flame-resistant, hi visibility flame resistant rainwear and apparel, leather and rubber voltage gloves, industrial workwear, military (FR, cold weather, base layers, combat uniforms, flight suits, etc.), electrical safety PPE, carbon products (thermal, welding, and molten metal protection), mechanical and cut protection apparel/products, and more! Company has 5 production facilities in the US.
Due to growth, the company has created a new position for a Cost Accountant / Inventory Audit Manager which will report to the CFO and Director of Finance. Very independent role collaborating between Finance, Production, Design/Development areas.
The position is based in Cleveland (potential consideration for Chicago) comes with a competitive base salary, excellent benefits, and relocation package for qualified candidates.
Position Overview: The Cost Accountant will oversee physical inventory accuracy across all six locations. Will implement and facilitate procedures to ensure both physical count and valuation accuracy, will work with local inventory management teams to carry out audits and maintain quantity-on-hand accuracy by overseeing cycle counts. Responsible for verifying and maintaining accurate standard costing records, unit of measurement conversions, and accuracy of BOMs. Ongoing analysis of volume and price variances will be required with a comprehensive ability to analyze, identify, and correct problems as they arise.
Essential Job Functions:
• Develop and maintain standard costing system ensuring accuracy of raw materials, bill of materials and OH rates:
o Work closely with Supply Chain to ensure accurate raw material costing and valuation
o Work closely with R&D to ensure accurate and complete bill of materials and routings
o Work closely with Product Management to provide costing on new and existing products
• Lead and manage cycle-count / physical inventory process; analyzing and reconciling results to General Ledger
• Develop and maintain product standard costs for raw materials, labor and overhead rates
• Continuously review standard and actual costs for inaccuracies, updating standards when significant changes in raw material costs, bill of material or routing assumptions have occurred
• Analyze cost drivers and investigate root causes of standard versus actual cost variances on shop orders, developing and implementing solutions to reduce or eliminate variances
• Analyze the Income Statement results versus budget and prior year and provide key insight and reporting to Management on variance drivers:
o Identify raw material cost trends and purchase price variances and work with Supply Chain and Accounting to identify cost-effective solutions
o Identify manufacturing cost trends and work with Operations and Accounting to identify cost-effective solutions
o Identify SG&A cost trends and work with internal partners and Accounting to identify cost-effective solutions
• Manage the General Ledger and perpetual inventory
o Reconcile General Ledger and perpetual inventory accounts
o Ensure accurate and timely valuation
o Analyze and report on inventory valuation by material type, including inventory turns and obsolete / slow moving analysis
o Ensure proper accounting for intercompany and in-transit inventory
• Perform month-end closing activities through the preparation and posting of journal entries and preparing timely analysis and reconciliation of inventory and associated Balance Sheet reserves ensuring strict adherence to closing time schedule
• Create and prepare reporting to allow for effective usage of monthly financial results by Management and Operations Teams
• Participate in the year-end external financial audit owning all product cost and inventory related audit activities
• Perform various special projects and cost analysis as required to support Operations, R&D, Supply Chain and Finance departments
• Provided on the job and supplemented with external seminars/classes
• Education & Certifications: Bachelor’s degree in Accounting or related industry experience
• Experience: 3-5 years previous work experience; prior manufacturing / costing experience
• Self-motivated and results driven, strong organizational and communication skills, attention to detail, analytical thinking and problem-solving, ability to multi-task, high degree of integrity and confidentiality, initiative with decision making, teamwork and cooperation
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Rush & Company is a full service Executive Search Firm that specializes in the Soft Goods industry.
Included in this industry are the apparel, home furnishings and industrial markets. We work in the fiber, fabric and fashion industry with clients and candidates located all over the world.
All candidates must be able to provide work related references.
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