Cost Accountant

Armstrong Fluid Technology; Toronto; On-site; CAD 65,000 - 85,000; Full time

Job summary

At a global leader in fluid-flow technology, join us as a Sr. Cost Accountant to drive financial operations and enhance accuracy. By partaking in detailed cost analyses and financial reporting, you will contribute to informed managerial decision-making and operational efficiency.

Qualifications

• Minimum of 5 years of recent experience in a cost environment.
• In-depth knowledge of GAAP accounting principles.
• Ability to exercise independent judgment within established systems.

Responsibilities

• Maintain and refine the standard cost system for accuracy.
• Conduct month-end and year-end closing procedures.
• Analyze margins across product lines to identify improvement opportunities.

Skills

Analytical Skills

Attention to Detail

Communication Skills

Collaborative Team Player

Education

University degree in Accounting, Finance, or Commerce

CPA designation (preferred)

Tools

Microsoft Excel

ERP Systems

Job description

Imagine working at the forefront of innovation in fluid-flow technology, with over 1400 colleagues across the globe, and contributing to a legacy of excellence that spans eight manufacturing facilities on four continents. Armstrong Fluid Technology is more than just a leader in our industry; we are a community of the brightest and most creative minds, driven by a shared mission to engineer the future and safeguard our planet.

As a member of our team, you'll dive into an environment that encourages learning and boundary-pushing every day. You'll be part of an agile and dynamic workplace where today's solutions are built for tomorrow's challenges.

We are seeking a skilled Sr. Cost Accountant to enhance our financial operations.

This role is crucial in gathering, analyzing, and interpreting internal cost accounting data across all operational divisions. By preparing detailed margin analyses, performance reports, and variance assessments, you will play a key role in optimizing operational efficiency and supporting informed managerial decision-making.

Key Responsibilities:

Cost System and Financial Reporting

• Assist in maintaining and refining the standard cost system to ensure accuracy and relevance.
• Execute month-end and year-end closing procedures related to Sales, Cost of Sales, and Manufacturing Variances. Prepare comprehensive reconciliations for Costs, Sales, and Inventory, and post necessary journal entries.
• Develop monthly flexible budgets and analyze spending variances to guide financial decision-making.
• Drive process improvements in month-end reporting to enhance accuracy and timeliness of financial analyses.

Inter-Company and Operational Reconciliations

• Conduct inter-company reconciliations, including markup schedules and resolving discrepancies in inter-company cost transactions.
• Investigate and explain manufacturing variances, purchase discrepancies, and inventory adjustments, recommending corrective actions as needed.

Cost Analysis and Performance Reporting

• Analyze margins across product lines and company divisions to identify opportunities for improvement.
• Generate plant performance reports and analyze inventory turnover metrics to optimize operational efficiency.
• Monitor inventory movements, assess performance metrics, and calculate reserves in accordance with corporate policies.

Cost Management and Inventory Control

• Conduct annual and ad hoc cost rolls to update cost data and ensure alignment with operational realities.
• Update material and operational cost data quarterly to reflect market changes and operational impacts.
• Participate in daily operation stand-up meetings, engage, and conduct regular cycle counts to check inventory accuracy.
• Participate in quarterly/annual physical inventory counts, ensuring accuracy and compliance with established procedures.

Project and Team Collaboration

• Oversee project closings on a daily, weekly, and monthly basis, collaborating with PEG (Project Engineering Group) and operational teams to resolve any issues promptly.
• Collaborate with departmental and operational teams to resolve cost-related issues, including discrepancies and variances.

Audit and Financial Planning Support

• Support the annual audit process by preparing work papers and schedules to facilitate smooth audit reviews.
• Assist in the preparation of the annual Business Plan, contributing to financial planning, forecasting, and ad hoc analyses.

Continuous Improvement and Community Engagement

• Be an active member of the global costing community of practice, contributing to systems enhancements, flow optimization, and inventory management and control.
• Perform other duties as assigned to support organizational objectives.

What We’re Looking For

To thrive in this role, you should bring:

Education and Experience

• University degree in Accounting, Finance, or Commerce. CPA designation preferred, or close to completion.
• Minimum of 5 years of recent experience in a cost environment within a complex manufacturing setting.

Technical Skills

• In-depth knowledge of generally accepted accounting principles (GAAP) and the ability to exercise independent judgment within established systems and procedures.
• Advanced proficiency with Microsoft Excel and experience working with Enterprise Resource Planning (ERP) systems.

Soft Skills

• Strong analytical skills and exceptional attention to detail.
• Collaborative team player.
• Well-organized with the ability to prioritize tasks effectively within the department.
• Strong interpersonal and communication skills.

Why Armstrong Fluid Technology?

By joining us, you’ll become part of a global community dedicated to pushing the boundaries of fluid-flow technology. You’ll have endless opportunities to learn, grow, and make a significant impact on the world. Together, we'll build tomorrow’s solutions today