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Cost Accountant job description

A Cost Accountant is a professional who is responsible for ensuring that money spent by their company is well-planned and worth it. They oversee expense reports, analyze data on what has been purchased or the incurred costs regarding goods and services received from vendors, and make recommendations about cost-efficiency.

Christina Pavlou
Christina Pavlou

An experienced recruiter and HR professional who has transferred her expertise to insightful content to support others in HR.

Cost Accountant responsibilities include:

  • Collecting cost information and maintaining an expenses database
  • Constructing data accumulation systems
  • Determining fixed costs (e.g. salaries, rent and insurance)

cost accountant job description

Job brief

We are looking for a Cost Accountant to join our accounting department. You’ll be responsible for performing cost analyses and preparing budget reports.

You should possess excellent analytical skills along with the ability to combine different data and calculate profit margins. Our ideal candidate should also be able to create detailed reports that present cost-effective solutions for our company.

Ultimately, you should build updated databases and manage cost information to maximize profitability for our company.

Responsibilities

  • Collect cost information and maintain an expenses database
  • Construct data accumulation systems
  • Determine fixed costs (e.g. salaries, rent and insurance)
  • Plan and record variable costs (e.g. purchases of raw material and operations costs)
  • Review standard and actual costs for inaccuracies
  • 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
  • Identify and recommend cost-effective solutions

Requirements and skills

  • Proven work experience as a Cost Accountant, Cost Analyst, Accountant or similar role
  • Thorough knowledge of accounting procedures
  • In-depth understanding of Generally Accepted Accounting Principles (GAAP)
  • Experience with accounting software, like FreshBooks and Zoho
  • Computer literacy, MS Excel in particular (familiarity with VLOOKUPs and pivot tables)
  • Excellent analytical skills with an attention to detail
  • Strong time management skills
  • Integrity, with an ability to handle confidential information
  • BSc degree in Accounting, Finance or relevant study

Frequently asked questions

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