Cost Accountant Job Description
The job of a Cost Accountant involves target costing projects, tracking costs against activities, margin and process constraints analysis, constructing cost-effective data systems and monitoring costing information of a department or company. His/her job traces all costs related to services and products, so that retail prices would reflect cost of goods in a product accurately.
Education/Experience Requirements for the job of a Cost Accountant: A successful candidate must possess a bachelor’s degree in finance, accounting or a similar field. Some companies would require at least 1 year experience as a cost accountant since this position involves specialized accounting.
Skills of a Cost Accountant include but are not limited to: Advanced mathematics skills, technical writing and communication skills, organizational and multi-tasking skills, interpersonal skills and ability to work well independently and as part of a team.
Specific work elements of the job as a Cost Accountant include but are not limited to: Building data accumulation systems; creating and reviewing controls for accounting reporting systems, conducting process constraint analysis regularly; updating bill of material costs; reporting periodic variances and margins by product; validating cost of goods sold during month-end closing; investigating and resolving issues concerned on cycle counting variances; accumulating overhead costs; coordinating physical inventories and analyzing capital budgeting requests, among others.
