Cost Accountant-Plastics

The Cost Accountant is responsible for analyzing, managing, and reporting the cost structure of the plastic manufacturing process. This role plays a critical part in determining accurate product costing, budgeting, and financial analysis to support the company’s profitability goals. The ideal candidate should have strong knowledge of cost accounting in a manufacturing environment, with a focus on plastics production, and be detail-oriented with excellent analytical skills.

1. Cost Analysis & Reporting:
   

   
   
   • Analyze and report on manufacturing costs, identifying variances between actual costs and budgets/standards.
     
   • Prepare and present reports on cost performance, inventory valuation, and profitability to management.
     
   • Ensure that costs are accurately tracked and allocated, ensuring proper financial reporting.
     

2. Product Costing:
   

   
   
   • Develop and maintain standard costs for all products, factoring in raw materials, labor, and overhead.
     
   • Analyze product margins and recommend pricing strategies based on cost analysis.
     
   • Assist in the preparation of cost estimates for new products and product modifications.
     

3. Inventory Management:
   

   
   
   • Monitor inventory levels and ensure accurate valuation of raw materials, work-in-process (WIP), and finished goods.
     
   • Conduct periodic physical inventory counts and reconcile variances.
     
   • Ensure proper control and reporting of scrap, obsolescence, and rework costs.
     

4. Budgeting & Forecasting:
   

   
   
   • Assist in the preparation of annual budgets and forecasts related to production costs, materials, and labor.
     
   • Track and analyze actual performance against the budget, identifying key variances and recommending corrective actions.
     
   • Work with operations and production teams to develop cost-saving initiatives and drive process improvements.
     

5. Cost Control & Optimization:
   

   
   
   • Identify areas of cost inefficiencies and provide recommendations to reduce waste, control overhead, and improve profitability.
     
   • Analyze cost behaviors and trends to identify opportunities for savings in production and procurement.
     
   • Support continuous improvement projects and lean manufacturing initiatives to optimize cost structure.
     

6. Compliance & Internal Controls:
   

   
   
   • Ensure compliance with internal accounting policies and procedures related to cost accounting.
     
   • Maintain accurate and up-to-date records of all cost-related data.
     
   • Assist with audits and ensure the integrity of financial and cost-related information.
     

7. Collaboration & Cross-functional Support:
   

   
   
   • Collaborate with the production, procurement, and supply chain teams to ensure accurate costing and financial reporting.
     
   • Provide cost analysis and insights to support decision-making in production planning, pricing, and product development.
     
   • Support the finance team in month-end closing activities, including the preparation of journal entries and account reconciliations.
     

8. ERP System Management:
   

   
   
   • Ensure that the cost accounting data in the company’s ERP system is accurate and up-to-date.
     
   • Assist in system upgrades or implementations as needed, ensuring the cost accounting function is fully integrated.
     

• Bachelor’s degree in Accounting, Finance, or a related field.
  
• 10 years of experience in cost accounting, preferably in a manufacturing environment.
  
• Strong understanding of cost accounting principles, GAAP, and financial reporting.
  
• Proficiency in ERP systems and Microsoft Excel for data analysis and reporting.