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Become A Cost Accounting Manager

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Working As A Cost Accounting Manager

  • Interacting With Computers
  • Processing Information
  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Organizing, Planning, and Prioritizing Work
  • Mostly Sitting

  • Repetitive

  • $67,190

    Average Salary

What Does A Cost Accounting Manager Do At Illinois Tool Works, Inc.

* Develop and establish annual standard costs and estimate the cost of potential new products.
* Coordinate the annual budget preparation for all Manufacturing operations and related support functions, including Distribution and R&D functions.
* Maintain insights into inventory and transaction activity, including any potential problem areas such as obsolete or slow-moving inventory, or transaction input errors.
* Manage month-end and year-end financial closes as it relates to the manufacturing operations including freight and utility accruals, and associated facility expenses
* Manage account analysis and reconciliation of inventory records, including in-transit, prepayments to vendors, and unvouchered receipts.
* Coordinate the planning, execution and reconciliation of the annual physical inventory.
* Capitalize, dispose and maintain fixed assets in ITW software and related depreciation costs, and support the preparation of capital projects for internal approval.
* Oversee the Accounts Payable activities related to the Manufacturing / Distribution facility
* Internal controls related to expenses, capitalization, end of month revenue recognition
* Perform special projects as requested

What Does A Cost Accounting Manager Do At Thermo Fisher Scientific

* Manage a team of three to four cost accountants, providing technical guidance, mentoring, and ensuring consistent application of accounting principles across the manufacturing sites.
* Provide cost accounting site analytics and provide support to local site leadership as needed for cost accounting and factory metrics
* Manage the process of assessing inventory for excess and obsolescence reserves based on corporate policy
* Participate in annual standard cost roll and margin move analysis
* Assist with the coordination and deliverables for quarterly reviews and annual audits performed by external auditors
* Assist with daily, weekly, monthly, quarterly and annual management reports for cost accounting and site factory analytics.
* Prepare ad hoc reporting and analyses, assist with research on cost accounting questions and assist with special projects as requested

What Does A Cost Accounting Manager Do At Actuant

* Fact-based manufacturing cost analysis, to include variance analysis, standard costing analysis, fixed/variable cost analysis, etc.
* Develop standard costs for all products including elements for freight, duty, labor and factory overhead burdens.
* Regularly interface with various departments to inform and drive business improvement
* Determine influential cost drivers and methodologies for applying costs to product and coach operational staff to improve the same.
* Verify monthly PPV results for the cost down teams within the business.
* Maintain/develop policies & procedures regarding product costing methodology and variance analysis.
* Coordinate the annual standard cost roll.
* Report impact on changes in costs to management.
* Develop product costs for new items by working closely with product managers and engineering.
* Oversee and review inventory transactions performed throughout the month.
* Supervise the actions of the accounting staff in relation to inventory/variance accounting.
* Play key role on SLOB (Slow Moving & Obsolete Inventory) team to continually minimize both SLOB and active inventory.
* Assist manufacturing leaders with development and management of budgeted/forecasted operating expenses.
* Maintain inter-company transfer pricing.
* Develop and implement post audit process to evaluate if capital investments achieved planned payback.
* Perform, as needed, special analyses/investigations requested by business leaders.
* Manage month-end close process related to inventory and cost transactions to ensure an accurate and timely reporting of the financial results of the business.
* Assist in the preparation of the annual plan and quarterly forecasts.
* Work closely with management to drive forecast ownership, accountability and reporting into the organization.
* Perform profitability analysis on product families.
* Participate in setting manufacturing strategy.
* Oversee results of cycle count program.
* Participate in the year-end reporting including the audit and tax packs and schedules requested by the corporate office.
* Help maintain a strong internal control structure throughout the organization, as well as maintain SOX documentation.
* Perform special projects as necessary
* The successful candidate will be self-motivated and have strong problem solving, analytical, technical accounting and interpersonal skills.
* Further, the ideal candidate possesses

What Does A Cost Accounting Manager Do At Robert Half

* standard cost accounting; working closely with operations to segregate costs; ERP system work; variance analysis; and a variety of other tasks.
* Robert Half Finance & Accounting, the world's leader in specialized financial staffing, provides exciting full-time opportunities in the areas of accounting, bookkeeping, finance, audit, taxation and more.
* We pioneered the professional staffing industry, and we've been successfully matching professionals with employers since 1948.
* Our proven proprietary processes, along with our relationships in 325 locations worldwide, allow us to provide you unparalleled access to exciting career opportunities.
* But don't take our word for it.
* Our company once again was named first in our industry on Fortune® magazine's list of "World's Most Admired Companies" (March 1, 2017), and 9 out of 10 of our customers would recommend our service to a colleague.
* Apply for this job now or contact our nearest office at 844
* for additional information.
* All applicants applying for U
* S. job openings must be authorized to work in the United States.
* All applicants applying for Canadian job openings must be authorized to work in Canada.
* Robert Half Finance & Accounting.
* An Equal Opportunity Employer M/F/Disability/Veterans
* By clicking 'Apply Now' you are agreeing to Robert Half Terms of Use.
* Req ID:
* Functional Role:
* Cost Accounting Manager
* Country:
* USA
* State:
* NY
* City:
* HUDSON
* Postal Code:
* Compensation:* $100,000.00 to $120,000
* per year

What Does A Cost Accounting Manager Do At Schlumberger

* Running day-to-day operations to meet KPI objectives based on Service Level Agreements (SLA) between the Hub and Geomarket
* Performing analysis as and when required by Geomarket
* Developing domain expertise
* Identifying and reporting critical issues to the supervisor
* Preparing, reconciling and reviewing the Balance Sheet notes (including sub systems)
* Preparing monthly forecast of the Profit and Loss Accounts for the Operations Controller
* Preparing and analysing the Profit and Loss accounts including detailed review of revenue and cost transactions
* Controlling and preparing general ledger entries including prepayments, accruals, allocations, etc
* Preparing segment analysis and reports for Operations Controller, Operations Manager, Field Segment Managers for planning purposes.
* Preparing Fiscal analysis and management fiscal reconciliation in accordance with Local/ Country tax requirements.
* Providing support to Geomarket on Tender P&L’s/analysis for Operations Controller and Operations Manager for planning purposes.
* Providing assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements
* Ensuring all reports are submitted within deadlines

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How To Become A Cost Accounting Manager

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Cost Accounting Manager jobs

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Cost Accounting Manager Demographics

Gender

  • Male

    70.0%
  • Female

    28.4%
  • Unknown

    1.6%

Ethnicity

  • White

    79.0%
  • Hispanic or Latino

    9.8%
  • Asian

    8.7%
  • Unknown

    1.4%
  • Black or African American

    1.1%
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Languages Spoken

  • Spanish

    44.6%
  • Chinese

    8.9%
  • German

    7.1%
  • Mandarin

    7.1%
  • French

    5.4%
  • Korean

    5.4%
  • Portuguese

    3.6%
  • Russian

    3.6%
  • Finnish

    1.8%
  • Cantonese

    1.8%
  • Japanese

    1.8%
  • Bengali

    1.8%
  • Sanskrit

    1.8%
  • Italian

    1.8%
  • Arabic

    1.8%
  • Hindi

    1.8%
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Cost Accounting Manager

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Cost Accounting Manager

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Real Cost Accounting Manager Salaries

Job Title Company Location Start Date Salary
Cost Manager Gardiner &Amp; Theobald, Inc. New York, NY Jan 02, 2015 $117,500
Cost Manager Faithful+Gould, Inc. Houston, TX Nov 26, 2014 $105,200 -
$128,000
Cost Manager Cumming Construction Management Inc. Los Angeles, CA May 01, 2014 $104,350
Cost Accounting Manager I DJO, LLC Vista, CA Aug 05, 2014 $98,998
Cost Manager Gardiner & Theobald, Inc. New York, NY Dec 17, 2014 $98,500
Cost Analysis Manager Hyundai Motor Manufacturing Alabama, LLC (HMMA) Montgomery, AL Jun 15, 2011 $97,786
Cost Accounting Manager I DJO, LLC Vista, CA Oct 01, 2012 $97,057
Cost Accounting Manager Tramontina USA, Inc. Sugar Land, TX Oct 01, 2015 $95,000
Costing Manager Covidien Irvine, CA Dec 02, 2016 $90,314
Cost Manager Cumming Construction Management Inc. New York, NY Oct 01, 2014 $90,000
Cost Manager Faithful+Gould, Inc. Houston, TX Jan 22, 2012 $87,500
Cost Manager Gardiner & Theobald, Inc. New York, NY Sep 19, 2013 $81,078 -
$95,000
Cost Accounting Manager Tramontina USA, Inc. Sugar Land, TX Oct 01, 2012 $80,600
Cost Accounting Manager Life Technologies Corporation NY Jul 29, 2016 $80,200 -
$148,900
Cost Accounting Manager Life Technologies Corporation Carlsbad, CA Jul 29, 2016 $80,200 -
$148,900
Cost Manager Turner & Townsend Ferzan Robbins Jersey City, NJ Jul 20, 2015 $80,000
Manager, Cost Analysis Life Technologies Corporation Carlsbad, CA Apr 02, 2013 $78,400 -
$145,600
Costing Manager Ironclad Performance Wear Corporation Farmers Branch, TX Jan 20, 2016 $77,917
Cost Manager Gardiner & Theobald, Inc. Beverly Hills, CA Sep 15, 2015 $67,122 -
$102,500
Cost Manager Rider Levett Bucknall, Ltd. Tucson, AZ Feb 01, 2011 $67,000
Cost Manager Gardiner &Amp; Theobald, Inc. New York, NY Nov 18, 2013 $65,270 -
$95,000
Cost Accounting Manager Jabil Circuit, Inc. Memphis, TN Oct 01, 2011 $65,000
Cost Manager Cumming Construction Management Inc. San Diego, CA Sep 10, 2015 $65,000
Cost Manager Cumming Construction Management Inc. San Francisco, CA Sep 04, 2014 $65,000 -
$85,000
Cost Manager Cumming Corporation Aliso Viejo, CA Feb 01, 2011 $65,000
Cost Manager Rider Levett Bucknall Ltd Urban Honolulu, HI Sep 03, 2013 $65,000

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Top Skills for A Cost Accounting Manager

MonthlyFinancialStatementsVarianceAnalysisAnnualPhysicalInventoryExternalAuditorsAssetsGeneralLedgerERPPayrollCostSystemInventoryControlProductCostMonth-EndMonthlyJournalEntriesProductLineAnnualBudgetAccountReconciliationsActivityRawMaterialsA/PCostAnalysis

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Top Cost Accounting Manager Skills

  1. Monthly Financial Statements
  2. Variance Analysis
  3. Annual Physical Inventory
You can check out examples of real life uses of top skills on resumes here:
  • Closed and prepared monthly financial statements.
  • Prepared full absorption cost per ton by product reports for inventory standards, variance analysis, pricing and strategic planning.
  • Planned and supervised annual physical inventory.
  • Worked closely with external auditors, particularly regarding current and obsolete inventory valuation.
  • Reviewed various financial analyses for senior management regarding sales, gross margins, inventory and reserves, and fixed assets.

Top Cost Accounting Manager Employers

Cost Accounting Manager Videos

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Job Profile of an Accounting Manager

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