Cost Accounting Manager

Position Summary: As the Cost Accounting Manager, you will lead our cost analysis, financial reporting and cost accounting initiatives for both divisions. This role will be responsible for overseeing inventory valuation, the annual standard cost revaluation process and handling all inventory related accounting support to ensure financial compliance. Additionally, this role will be critical in developing reporting and strong processes to improve cost accuracy and facilitate the item setup process, including providing product costs to the divisions to drive improved profitability and efficiency.  

The ideal candidate has strong expertise in textile production cost structures, including raw materials, labor costs, supply chain expenses and factory overhead analysis. They will work closely with Divisional Leadership and their operations teams to drive cost efficiency and support strategic decision making.

Position Responsibilities:

Cost Accounting and Item Set Up

• Develop, implement and maintain cost accounting systems for accurate financial tracking
• Oversight of item setup in AS/400 and providing accurate product costs to Divisions for pricing new programs
• Support cost scenario planning to support Divisional analysis for new opportunities and value engineering projects.
• Support budgeting and forecasting by providing raw material cost projections and reports to monitor and optimize labor costs, factory overhead and production efficiency.
• Facilitate annual standard cost revaluation process and any interim processes needed to ensure standard costs are accurate to support divisional profit objectives

Inventory Valuation and Management

• Oversee inventory accounting for raw materials, work-in-progress and finished goods
• Ensure accurate standard costing and valuation methodologies
• Analyze inventory reports and reconciliations to prevent material shrinkage and ensure strong processes are in place to properly value inventory.

Financial Reporting and Compliance

• Prepare cost reports, financial statements, and variance analysis for senior and divisional leaders
• Analyze cost variances between actual and standard costs for knitting, finishing and other manufacturing processes to support business needs
• Ensure compliance with GAAP, IFRS and SOX regulations, including any industry-specific regulations.
• Work with external auditors to address cost and inventory accounting reviews

Cost Control and Process Improvement

• Provide accurate reporting and analysis to inform Operations teams on cost reduction opportunities in procurement, manufacturing and supply chain
• Collaborate with operations teams to enhance cost efficiency
• Implement systems, processes and solutions to enhance real-time cost tracking and reporting to support Divisional needs

Leadership and Collaboration

• Manage and mentor cost accounting teams to build financial expertise within the Company
• Partner with Decisions Support and Operations teams to optimize financial decision making
• Present cost insights and financial recommendations to the CFO and Divisional Presidents

Essential Skills and Experience:

• 7+ years of experience in Cost Accounting, Financial Analysis or Manufacturing Accounting. 3-5 Years Management Experience.
• Previous experience in manufacturing environment is a must. Textile experience is highly preferred.
•  Experience with AS/400 or similar ERP systems
• Highly proficient using Microsoft Excel with advanced skills doing financial modeling
• Strong knowledge of GAAP, IFRS and cost accounting principles.
• Strong analytical and problem-solving skills
• Excellent leadership and communication skills
• Ability to work in a fast paced, cross functional environment

Education Requirements:

• Bachelor’s degree in accounting, Finance or Business (MBA or CPA preferred)

Positions Supervised:

• Cost Analyst
• Cost Support Specialist

Travel Requirements: Minimal travel would be only U.S. based.