Sr Cost Accountant

Overview

The Senior Cost Accountant is responsible for managing test costing, inventory valuation, and ensuring accurate financial posting of inventory-related transactions. This role supports the monthly financial close, cycle counts, and physical inventory processes. It involves close collaboration with Supply Chain and Operations teams to maintain compliance with US GAAP and ensure proper accounting practices throughout inventory management.

Responsibilities

General Accounting (Inventory)

• Maintain accurate item master data in the ERP system for inventory attributes such as units of measure, locations, costing methods, and standard cost fields.
• Support month-end close activities related to inventory and cost of sales, including journal entries, reconciliations, and documentation.
• Manage the inventory adjustment control process by establishing review and approval thresholds, monitoring activity, and ensuring adjustments are properly supported and recorded.
• Coordinate cycle counts and physical inventories; investigate variances and collaborate with Operations and Supply Chain to resolve discrepancies.
• Monitor inventory aging and turnover; assess excess or obsolete inventory risk and calculate and record reserves or impairments in accordance with U.S. GAAP.

Cost Accounting

• Own the end-to-end standard cost process, including updates, inputs, cross-functional coordination, and documentation of changes and approvals.
• Plan and execute periodic standard cost updates in the ERP; validate results, troubleshoot issues, and communicate downstream impacts on inventory valuation and cost of sales.
• Enhance inventory accounting and general ledger structure to improve visibility into inventory-related variances such as purchase price, usage, yield, and write-offs.
• Develop and maintain cost-per-test reporting, including reconciliations to the general ledger and variance analysis from standard to actual costs.
• Maintain and improve inventory costing policies to ensure clarity, consistency, and proper documentation.
• Partner with Operations and Supply Chain to develop accurate cost estimates for new and modified tests; maintain a repeatable model and assumptions library.
• Analyze testing and production costs; prepare reports comparing standard to actual costs, identify drivers, and recommend corrective actions.
• Perform cost variance analysis and maintain schedules and reconciliations linking operational activity to financial results.
• Review costing and inventory transaction data to identify trends, anomalies, and control gaps; propose process improvements and automation opportunities.
• Support audit and internal review requests by providing timely and organized documentation related to cost accounting methodologies, standard cost changes, and inventory valuation.

Other Duties

• Contribute to a professional work environment by prioritizing customer service, respecting colleagues, and upholding high standards of integrity.
• Perform other job-related duties as assigned to support team and business needs.

Qualifications

Education

• Bachelor’s degree in Accounting, Finance, or a related field.
• CPA or CMA certification is a plus.

Experience

• Minimum of 3 years of accounting experience, with at least 1–2 years in manufacturing, assembly, laboratory operations, or inventory management.
• Hands-on experience with inventory accounting, inventory valuation, and cost accounting (standard and/or actual costing).
• Strong understanding of how supply chain and operational workflows impact financial results including inventory, cost of sales, reserves, and capitalization.
• Proven problem-solving skills, data analysis capabilities, and ability to research and resolve discrepancies promptly.
• Advanced Excel skills with comfort handling large datasets and building repeatable analyses.
• ERP proficiency required; experience with NetSuite is strongly preferred.
• Excellent written and verbal communication skills with the ability to collaborate cross-functionally and present findings to diverse audiences.

Physical Demands and Work Environment

• Frequently required to sit, stand, and use hand and finger dexterity.
• Frequently required to talk, hear, and use visual acuity for reading and operating equipment.

Equal Employment Opportunity

The employer is an equal opportunity organization committed to building an inclusive and diverse workforce. Discrimination based on race, religion, color, national origin, sex, sexual orientation, age, gender identity, veteran status, disability, genetic information, pregnancy, childbirth, or any other protected status under applicable laws is prohibited.