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Principal Duties:

The Cost Accountant is responsible for overseeing all aspects of cost accounting and inventory management within the organization\'s manufacturing operations, for both government contracts under FAR (Federal Acquisition Regulation) standards and standard fixed-price contracts under standard accounting practices. Working closely with the Senior Financial Analyst, the Cost Accountant will play a key role in analyzing and reporting on costs, margins, and inventory data to support strategic decision-making. The primary duties and responsibilities include:

Cost Accounting

• Analyze and report on product costs, including materials, labor, and overhead, ensuring accuracy and compliance with relevant contract specifications and accounting standards.
• Monitor and report on variances between standard costs and actual costs for all types of contracts, identifying and addressing discrepancies as needed.
• Assist in the development and maintenance of standard cost systems for inventory valuation and product costing, aligning with contract requirements and accounting best practices.
• Collaborate with cross-functional teams to ensure accurate cost allocations and accounting treatments for various contract types and business operations.

Inventory Management

• Coordinate and conduct physical inventory counts and cycle counts to ensure accurate inventory records across all contract types and business units.
• Investigate and resolve discrepancies in inventory counts, proposing adjustments as necessary to maintain integrity of financial reporting.
• Review and update average costs in the bill of materials and inventory registry to reflect current pricing and cost trends for all contracts and product lines.
• Analyze inventory aging and assess provision calculations for accuracy, adjusting as needed to reflect business realities and contract obligations.
• Work with relevant stakeholders to identify and dispose of obsolete inventory in accordance with contractual requirements and accounting principles.

Analysis and Reporting

• Analyze financial data and performance metrics related to cost of goods sold, inventory, and contract activities, providing insights to support decision-making and strategic planning efforts.
• Prepare ad hoc reports and analyses to address specific business needs and inquiries, demonstrating agility and responsiveness to evolving requirements.
• Collaborate with the Senior Financial Analyst to reconcile balance sheet and P&L accounts, ensuring accuracy and completeness of financial statements and regulatory filings.
• Utilize ERP and CRM systems to extract and analyze data, and identify trends for cost optimization.