Cost Accountant

Precipart, located in Farmingdale, New York, is looking to hire a Cost Accountant who will be responsible for analyzing and reporting on the costs associated with all goods manufactured and sourced. The Cost Accountant will monitor and manage inventory, cost products, analyze variances, and ensure accurate financial reporting. The role involves working closely with production, procurement, and other departments to optimize cost efficiency and support decision-making.

ESSENTIAL FUNCTIONS

Cost Analysis & Reporting:

Analyze manufacturing costs and prepare regular reports comparing standard costs to actual production costs.

Conduct detailed cost analysis for various products, including material, labor, and overhead.

Identify and report on cost variances and provide recommendations to management for cost reduction strategies.

Analyze all costs associated with sourced product comparing standard costs to actual purchased costs.

Conduct regular Purchase Price Variance and Sales Price Variance analysis for all goods manufactured and sourced.

Inventory Management:

Monitor and manage inventory levels, ensuring accuracy and proper valuation in the financial statements.

Perform regular inventory reconciliations and resolve discrepancies.

Collaborate with the production and commercial teams to forecast inventory needs and reduce excess inventory.

Product Costing:

Develop and maintain accurate product cost models and standard costing systems.

Update standard costs regularly and ensure they reflect current manufacturing processes and costs.

Work with the production and commercial teams to determine the cost of new products and updates to existing products.

Budgeting & Forecasting:

Assist in the preparation of budgets and forecasts, focusing on manufacturing and sourcing costs.

Analyze historical data and trends to support cost forecasting and budgeting activities.

Provide insights into cost trends and potential risks to financial plans.

Financial Reporting:

Ensure accurate financial reporting of manufacturing and sourcing costs in accordance with accounting standards.

Prepare and present financial reports related to manufacturing costs to senior management.

Support month-end and year-end closing processes by providing cost data and analysis.

Process Improvement:

Identify opportunities to improve cost accounting processes and systems.

Implement best practices in cost accounting and control procedures.

Collaborate with cross-functional teams to optimize manufacturing processes and reduce costs.

Quality Management System:

Responsible for conforming with the company’s quality management system requirements, as well as contributing to its overall effectiveness, and the ultimate goals of customer satisfaction, product compliance and ethical practices/behavior.

REQUIRED EXPERIENCE / SKILLS / EDUCATION

Bachelor’s degree in Accounting, Finance, or a related field.

Minimum of 3 years of experience in cost accounting within a manufacturing environment.

Strong understanding of cost accounting principles, inventory management, and financial analysis.

Proficiency in a Microsoft environment including Excel, Word, PowerPoint, Outlook email/calendar, experience in Infor LN (ERP) or other enterprise software a plus.

Strong analytical and problem-solving skills.

Excellent interpersonal skills, with the ability to communicate, verbally and written, effectively with management, team members and cross-functionally

Attention to detail and commitment to quality

Strong organization and time management skills with the ability to prioritize competing tasks

Ability to work collaboratively across departments and with all levels throughout the organization.

Values treating people well, has an empathetic approach and mindset, is ambitious and strives for personal and collective excellence, supports diversity and inclusion, and has a positive outlook and attitude.

PREFERRED EXPERIENCE / SKILLS / EDUCATION

CPA, CMA, or other relevant certifications are preferred.

Salary Range: $75,000 to $90,000 annually

What We’ll Offer You in Return

Base salary plus incentive program

Paid time off (TOB, holidays, parental leave)

Medical, dental, vision insurance

Flexible Spending Account

Health Savings Plan

Life insurance, enhanced short term and long-term disability insurance and other voluntary insurance plans

401k Profit sharing plan

Tuition Reimbursement

Employee Referral Bonus

National Employee Assistance Program

529 College Savings Program

Professional development and training

Brand new, modern workspace and manufacturing facilities

Company events and outings, from Employee Appreciation Day to professional sports games

Stable organization with opportunities for future growth within the company

About Precipart Group

Precipart engineers, designs and manufactures high precision custom solutions for the world’s leading companies in the Medical, Aerospace and Industrial markets. We act as a partner across your entire manufacturing process by engineering precision gears, mechanical components, assemblies and motion control solutions, as well as delivering end-to-end capabilities and more. With offices in Switzerland, the U.S. and U.K, we are here to help you “engineer possible”.