This post provides complete information on the job description of a cost accounting manager, to help you learn the work they do.
It highlights the key duties, tasks, and responsibilities that commonly make up the cost accounting manager work descrition.
What Does a Cost Accounting Manager Do?
The cost accounting manager job description usually entails evaluating acceptable cost of products as instructed from time to time.
He/she prepares financial records and budgets of diverse account analysis.
Most essential duties will also involve carrying out cost accounting closing functions on a daily and weekly basis while developing and analyzing general ledger and statements of finances every month.
He/she will also assist in organizing and analyzing accurate capital cost of expenditure as well as tracking of fixed assets.
These responsibilities will include daily tasks involving cost accounting activities for the whole organization.
The individual qualified for the post of cost accounting manager may serve as connection between the corporate and plant accountants.
For this distinct post, the skills of the cost accounting manager will be tested and evaluated regularly by the senior management and other top level business unit leaders, both locally and internationally.
Candidates aspiring for the role of cost accounting manager are often expected by employers to possess at least five years cost accounting experience with excellent skills in organizing international direct reports.
He/she must demonstrate leadership traits in motivation and giving support to the accounting team.
Cost Accounting Manager Job Description Example/Sample/Template
Most employers in standard organizations will expect the cost accounting manager to be able to perform the following duties as contained in their job description, with utmost diligence, accuracy and sense of commitment. An example of such job description is shown below:
- Run the monthly cost forecasts and ensure all targets are met within the stipulated time
- Ensure that there is accurate recording of expenditure in the appropriate journals and ledgers
- Provide assistance to the organization in preparing budget process by encouraging the budget holders to submit budgets at the expected time
- Apportion costs between manifold units of production and management
- Ensure the arrangement of cost of production to material costs, wages, and overhead costs
- Prepare estimates of costs for unique products in order to establish prices of products and to forecast production
- Consolidate cost of manufacturing for payroll and distribution of inventory accounts
- Contribute to discussions and reviews conducted during yearly audit meetings
- Formulate goals and assessments annually, in a timely manner
- Prepare, devise, and regulate procedures for establishing unit cost of services and products
- Bringing about suggestions in a bid to ameliorate accounting methods and processes.
The above sample description of the cost accounting manager’s job can also be used in writing a resume for the position, especially the employment history section.
Cost Accounting Manager Requirements: Knowledge, Skills, and Responsibilities for Career Success
The following skills and other attributes are often required by employers for screening and hiring applicants for the post of cost accounting manager:
- First degree in accounting with three years plus experience in application of general accounting theories
- Proficiency in the use of oral and written English Language
- Outstanding skills in the use of Excel, Power Point and Microsoft Word
- Ability to communicate effectively and clearly, especially with non-accounting professionals
- Effective leadership and motivational traits in supporting the accounting unit
- A sound familiarity with the systems and policies of payroll and service administration
- Ability to apply dynamism and logical judgment to diverse challenging situations
- Ability to respond with perceptiveness under variable circumstances
- Proficiency in using contemporary programmed system of management
- Ability to find resolution to complicated accounting problems and assist other accounting staff in harmonizing finance related issues.