Senior Cost Accountant

Company Description

One of our clients, a well-established luxury furniture brand, is looking for a SENIOR COST ACCOUNTANT. This is a great opportunity to be part of a brand that has made a mark in the furniture industry.

Job Overview:

This is a full-time, on-site role located in Parañaque for a
SENIOR COST ACCOUNTANT
at a luxury furniture brand.

The
SENIOR COST ACCOUNTANT
is responsible for monitoring, analyzing, and reporting manufacturing costs to ensure accurate product costing and profitability. This role plays a vital part in managing cost standards, maintaining the Bill of Materials (BOM), and providing cost insights that guide management decisions. The position works closely with Production, Procurement, and Engineering teams to ensure that all cost data reflects actual operations and supports efficiency, profitability, and business growth.

Key Responsibilities:

1. Cost Analysis and Control

2. Analyze manufacturing costs and prepare detailed cost reports and variance analyses.

3. Monitor material, labor, and overhead costs to ensure they align with production data and financial standards.
4. Review, maintain, and update standard costs and Bill of Materials (BOM) to reflect current production processes and material usage.
5. Investigate cost variances and identify opportunities to reduce waste and improve efficiency.
6. Ensure compliance with cost accounting principles and company policies.

2. Bill of Materials (BOM) Management and Product Costing

• Maintain the accuracy and integrity of the Bill of Materials (BOM) in collaboration with Production, Engineering, and Procurement.
• Verify that BOMs correctly reflect the materials, quantities, and costs used in the manufacturing process.
• Analyze BOM changes to determine their impact on product costs and profitability.
• Support new product development by preparing cost estimates and establishing BOM-based standard costs prior to production.
• Conduct BOM reconciliations to ensure that actual material usage and costs align with system data.

3. Inventory and Production Accounting

• Monitor and reconcile raw materials, work-in-process (WIP), and finished goods inventories.
• Conduct periodic physical inventory counts and reconcile variances with production and warehouse records.
• Ensure accurate valuation of inventory in accordance with accounting standards.

4. Budgeting and Forecasting

• Assist in the preparation of annual budgets and forecasts related to manufacturing and operating costs.
• Use BOM and production data to project material requirements and cost estimates.
• Analyze variances between actual and budgeted costs and provide actionable insights to management.

5. Reporting and Decision Support

• Prepare periodic cost statements, margin analyses, and product profitability reports.
• Provide cost data and recommendations to support pricing strategies and operational decisions.
• Maintain organized and accurate cost accounting records, including BOMs and cost standard documentation.

6. Cross-Functional Collaboration

• Partner with Production, Engineering, and Procurement to understand cost drivers and identify improvement opportunities.
• Participate in process improvement initiatives to enhance cost efficiency and production accuracy.
• Support management in implementing cost control policies and ensuring financial accountability across departments.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• CPA (Certified Public Accountant) preferred.
• Minimum of 3–5 years of experience in cost accounting, ideally in a manufacturing environment.
• Strong understanding of cost accounting principles, BOM structures, and inventory management.
• Proficiency in ERP systems (e.g., SAP, Oracle, Microsoft Dynamics, or equivalent).
• Advanced Microsoft Excel and data analysis skills.

Key Competencies:

• Strong analytical and problem-solving skills
• Accuracy and attention to detail
• Integrity and sound professional judgment
• Ability to work under pressure and meet deadlines
• Collaborative and proactive work style