Cost Accountant - Contractor

Job Title: Cost Accountant - Contractor Department: Finance / Accounting Location: Indianapolis (Hybrid schedule) Job Summary: The Cost Accountant is responsible for analyzing and managing the cost structure of the company’s products. This position involves performing detailed cost analyses, maintaining cost accounting records, and ensuring accurate cost reporting. The Cost Accountant plays a critical role in helping the company manage its profitability by providing key insights into product costs, inventory valuations, and cost-saving opportunities. Key Responsibilities: Cost Analysis & Reporting: Analyze manufacturing or service costs and prepare regular reports comparing standard costs to actual production costs. Provide recommendations based on cost variance analysis. Inventory Management: Monitor and analyze inventory transactions, including raw materials, work-in-progress, and finished goods. Ensure accurate valuation of inventory and report on inventory variances. Budgeting & Forecasting: Assist in developing cost budgets and forecasts by working closely with production, operations, and procurement teams. Ensure accurate standard costs are used in financial planning. Costing Methodologies: Maintain and develop costing systems to ensure the proper allocation of overhead, labor, and materials costs. Use standard cost, actual cost, and job costing methods as required. Product Costing: Develop and maintain product cost standards, including labor, materials, and overhead. Analyze the profitability of new and existing products. Variance Analysis: Perform cost variance analysis, identifying areas where actual costs deviate from standard or budgeted costs, and provide actionable insights to management. Process Improvement: Identify opportunities for cost reductions and process improvements within manufacturing or operational processes. Work closely with teams to implement improvements. Compliance & Reporting: Ensure compliance with company policies, GAAP, and other financial regulations. Prepare reports for internal and external audits, as well as for senior management. Month-End Closing: Assist with month-end close activities, including journal entries, account reconciliations, and the preparation of financial statements related to costs and inventory. Capital Projects: Support capital expenditure projects by analyzing costs, benefits, and returns on investment (ROI). Collaboration: Work closely with other departments such as production, procurement, and supply chain to ensure accurate cost data and resolve any discrepancies. Qualifications: Education: Bachelor’s degree in Accounting, Finance, or related field. CPA, CMA, or other relevant certifications preferred. Experience: 3-5 years of experience in cost accounting, preferably in a manufacturing or production environment. Skills: Strong knowledge of cost accounting principles, methods, and systems. Proficiency in ERP systems (such as SAP, Oracle, or similar) and advanced Excel skills. Strong analytical and problem-solving skills. Experience with variance analysis, budgeting, and forecasting. Strong attention to detail and the ability to work with large datasets. Excellent written and verbal communication skills.