For employers looking to fill a Cost Accountant vacancy, the following sample position description can help you to attract the best candidates for the role. By tailoring this position description according to your company's specific job requirements, you have an excellent interview tool for comparison purposes.
For job seekers looking for a Cost Accountant role, this job description details what the role may involve and what skills and experience are required to give you the best chance of securing the position.
Typically reporting to the Financial Controller, Finance Manager or Plant Controller within the manufacturing and FMCG industries. A Cost Accountant is essential to manage the costs of supplied materials and production.
A Cost Accountant role can include a range of duties that can vary depending on the size and nature of the organisation. Typical responsibilities may include, but are not limited to:
Maintaining standard costs of raw materials, packaging, machines and finished goods
Producing monthly management accounts including material costs
Producing monthly profit and loss statements
Conducting analysis of all costs
Managing the budgets around all costing issues and providing variance analysis
Developing and maintaining accurate costing systems in relation to labour, production methods and material supply
Ensuring all costs are identified and recorded accurately
Stock reconciliations and co-ordination of stocktakes and cycle counts
Analysing the P&L and balance sheet accounts to understand the main cost drivers of the business
Play an active role in costing new products
Partnering with the business to determine and implement process improvements
Educating the Operational and Production teams on the management of costs
Understand Operational and Production software to ensure that costs are recorded accurately
The more common skills and attributes that are most needed for this role may include:
Previous cost accounting experience
Ability to effectively communicate with non-finance staff, including those in the warehouse and factory
Excellent interpersonal and communication skills, both written and verbal
Strong attention to detail
Self-motivated and forward-thinking
Ability to work in a fast-paced environment with multiple stakeholders
Excellent working knowledge of computer software including Excel and other production/costing software and ERP systems
Relevant Accounting/Business or Finance degree
Currently studying for or completed CPA or CA
$80 - 125K + Super
For hiring managers ready to recruit a Cost Accountant, download our job description template.
For job seekers who need to write or update their resume, download our resume guide and template.
Cost accounting is the understanding of the costs associated with materials and production including raw materials, packaging, machinery, and labour and is common in the manufacturing or FMCG industries. Identifying the costs assists the business in pricing its goods for sale.
The path to becoming a Cost Accountant most likely will involve an Assistant Accountant role and experience in management accounting. You will have worked in an industry where cost accounting is critical to the business (such as manufacturing or FMCG). You will also be degree qualified and undertaking or completed your professional Accounting qualification.
A Cost Accountant can earn anywhere from $80K - $125K + Super depending on the size of the business.
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