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Job Description
Purpose of the position
Analyze a company’s expenditures and create reports to advise on improving efficiency and reducing financial waste. review a company’s financial documents and recommend new accounting procedures that could improve cash flow and make it easier to understand and itemize expense reports. Cost Accountants use financial software to identify inconsistencies and irregularities in operational costs and model the impact of possible budget changes on a company’s financial health. improve financial efficiency and give data-driven advice to company leadership.
- Analyze and recommend costs and cost savings.
- Prepare and complete internal cost audits.
- Analyze the data collected and log a detailed record of the results.
- Comply with Generally Accepted Accounting Principles (GAAP) for financial statements.
- Provide management with reports that specify and compare factors that affect prices and profitability of services.
- Assist in audits and general ledger preparation.
- Conduct physical inventories and monitor the cycle count program.
- Collecting and analyzing data about a company’s operational costs.
- Carrying out cost-volume-profit (CVP) analysis.
- Establishing costs of business processes such as administration, labor, etc.
- Performing account reconciliations.
- Preparing audit reports and presenting their findings to management.
- Recommending changes to the company’s processes and policies to reduce cost and maximize profit.
- Managing the company’s balance sheet and accounting books.
- Collect cost information and maintain an expense database.
- Determine fixed costs (e.g. salaries, rent, and insurance).
- Plan and record variable costs (e.g. purchases of raw material and operations costs).
- Prepare budgeting reports (for the company and for each department).
- Analyze and report profit margins.
- Prepare (monthly, quarterly and annual) cost forecasts.
- Assisting in month-end and year-end closing.
- Construct data accumulation systems.
- Review standard and actual costs for inaccuracies.
- Identify and recommend cost-effective solutions.
- Developing and maintaining accurate costing systems in relation to labor, equipment, and material.
- Advising executives and upper management on appropriate costing based on financial data.
- Supporting other accountants with invoicing and capital expenditure.
Job Requirements
- Bachelor’s degree in Accounting or Finance.
- A minimum of 3 years experience as a cost accountant or similar role in a Transportation Company.
- Cost accounting certification is a plus.
- A certified public accountant (CPA) license is a plus.
- Advanced knowledge of mathematics and statistics.
- In-depth knowledge of accounting and bookkeeping processes.
- Ability to prepare financial reports and give recommendations based on available data.
- In-depth knowledge of financial guidelines and regulations.
- Superior knowledge of financial reporting software tools and ERP software.
- Thorough knowledge of accounting procedures.
- Computer literacy, MS Excel in particular (familiarity with VLOOKUPs and pivot tables).
- Strong attention to detail.
- Outstanding written and verbal communication skills.
- Excellent analytical and time management skills
- Strong numeracy skills.
- Strong financial analysis skills
- Critical thinking skills
- Effective communicator
- Exceptional math skills
- Organizational expert
