Cost Accountant

Cost Accountant

Position Location: Platte City, MO

Department: Finance

Reports To: Manufacturing Controller

About Central Power Systems & Services

Central Power Systems & Services is a privately held company with deep roots going back to 1954.

Our Mission Statement is forging long-lasting partnerships by providing first-class customer support. We live that statement every day. We are looking for a Cost Accountant to support our Generator Manufacturing Division and help ensure the accuracy and integrity of manufacturing costs, inventory, and financial reporting.

This position plays an important role in understanding the financial impact of manufacturing operations by analyzing material and product costs, investigating cost variances, reviewing manufacturing data, and identifying the operational or purchasing drivers behind changes in cost.

As we continue to experience significant growth and development, we are looking for candidates who are teachable, analytical, detail-oriented, and willing to learn and grow with the organization. We value passionate, down-to-earth people who are driven to get things done, find creative solutions, and work collaboratively with others.

Position Summary

The Cost Accountant is responsible for monitoring and analyzing manufacturing costs and inventory activity to ensure costs are accurately reflected within the company's financial systems. This position will review weighted-average costs for raw materials, purchased components, work-in-process, and finished products while investigating variances and identifying the underlying operational, purchasing, or transactional drivers.

The Cost Accountant will work closely with Manufacturing, Engineering, Purchasing, Operations, and Finance to identify and resolve issues that may impact inventory valuation, product costs, and financial reporting.

Essential Duties & Responsibilities

• Review weighted-average costs for raw materials, purchased components, work-in-process (WIP), and finished products.
• Analyze changes in average material and product costs to identify underlying operational, manufacturing, and purchasing drivers.
• Investigate material and product cost variances and communicate findings to the appropriate departments.
• Review Bills of Material (BOMs), manufacturing routings, labor rates, and manufacturing master data for financial reasonableness when investigating cost variances.
• Monitor inventory transactions that may distort weighted-average costs, including:
  
  
  
  • Negative inventory balances
  • Backdated transactions
  • Incorrect units of measure
  • Erroneous inventory receipts
  • Inventory adjustments
  
  
  
  
• Review inventory transfers between plants, warehouses, and other company locations to ensure inventory is accurately recorded and valued.
• Assist with tracking and analyzing scrap, rework, inventory write-offs, and other manufacturing losses.
• Identify trends, discrepancies, and unusual activity that may impact inventory valuation or manufacturing costs.
• Partner with Manufacturing and Operations to understand the operational causes behind cost fluctuations and variances.
• Work with Purchasing to understand changes in material pricing, supplier costs, and purchasing activity that may affect product costs.
• Collaborate with Engineering to review BOMs, routings, labor rates, and other product-related master data when cost discrepancies are identified.
• Assist in identifying and correcting data or transaction issues that may impact inventory valuation and financial reporting.
• Maintain accurate documentation and supporting information for cost analysis and variance investigations.
• Assist with month-end close activities related to inventory, manufacturing costs, and cost accounting.
• Prepare and maintain reports related to inventory valuation, material costs, product costs, and manufacturing variances.
• Support internal and external audit requests related to inventory and cost accounting.
• Identify opportunities to improve the accuracy, efficiency, and reliability of cost accounting processes.
• Assist other Finance and Accounting team members, as needed, to support the overall needs of the organization.
• Perform other duties as assigned.

Benefits

• Competitive Pay
• Medical, Dental, Vision & Life Insurance
• 401(k) with Company Match
• Paid Time Off
• Training & Professional Development
• Positive and Productive Work Environment

Position Qualifications

• Bachelor's degree in Accounting, Finance, Business, or a related field preferred.
• Two (2) or more years of accounting, cost accounting, manufacturing accounting, or related experience preferred.
• Manufacturing or inventory accounting experience strongly preferred.
• Experience working with an ERP/MRP system preferred.
• Epicor ERP experience is a plus.
• Strong understanding of inventory valuation, manufacturing costs, and cost accounting principles.
• Experience analyzing cost variances and investigating underlying causes preferred.
• Strong Microsoft Excel skills, including the ability to work with large amounts of data and perform detailed analysis.

Knowledge, Skills & Abilities

General Skill Requirements

• Strong analytical and problem-solving skills.
• Excellent attention to detail and accuracy.
• Strong organizational and time-management skills.
• Ability to identify trends, inconsistencies, and potential errors in financial and operational data.
• Strong written and verbal communication skills.
• Ability to explain financial information and cost variances to non-financial team members.
• Ability to work independently while also collaborating effectively across departments.
• Ability to manage multiple priorities and meet deadlines in a fast-paced manufacturing environment.
• Strong computer and systems knowledge.
• High level of integrity and confidentiality.

Specific Skill Requirements

• Strong Microsoft Excel skills.
• Knowledge of generally accepted accounting principles (GAAP).
• Understanding of inventory accounting and valuation.
• Understanding of manufacturing cost structures and cost drivers.
• Ability to analyze material, labor, overhead, and product costs.
• Ability to understand and interpret Bills of Material (BOMs), manufacturing routings, labor rates, and other manufacturing data.
• Ability to research and reconcile discrepancies between operational transactions and financial records.
• Experience with ERP/MRP systems preferred.
• Epicor ERP experience is a plus.

WORK CONDITIONS

Physical Demands/Work Environment:

This position regularly requires walking, standing, sitting, stooping, bending, kneeling and climbing stairs. Employees may be assigned other tasks as needed.

Equal Employment Opportunity

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Central Power Systems & Services is a smoke-free and drug-free workplace. Employment offers are contingent upon the successful completion of a background check and drug screen (including THC).

Candidates must be legally authorized to work in the United States. Employment eligibility will be verified at the time of hire. You must be legally authorized to work in the U.S. to be considered for this role.