Accounting Close, Analysis Skills, Auditing, Cost Accounting, Cost Analysis, Data Analysis, Data Entry, General Ledger Accounting, Generally Accepted Accounting Principles (GAAP), Inventory Costs, Inventory Cycle Counts, Inventory Management, Journal Entries, Maintain Compliance, Physical Inventory, Process Improvement, Product Costing, Purchasing/Procurement, Reconciliation, Variable Costs, Warehousing
JOB DUTIES AND RESPONSIBLITIES:
- Inventory Control & Reconciliation: Perform monthly reconciliations between the sub-ledger inventory balances and the general ledger. Investigate and resolve inventory discrepancies.
- Cost Assignment: Assigning costs to products, including direct costs and indirect costs
- Cost Analysis: Maintain and update standard costs for raw materials, work-in-progress (WIP), and finished goods. Analyze and report on variances, including material usage, labor efficiency, and overhead absorption.
- Month-End Close: Prepare and post inventory-related journal entries. Calculate and record reserves for slow-moving, excess, and obsolete (SLOB) inventory.
- Auditing & Compliance: Coordinate and oversee physical inventory counts and routine cycle counting programs. Ensure compliance with internal controls and GAAP standards.
- Process Improvement: Partner with operations, purchasing, and warehouse teams to improve inventory tracking workflows and reduce production waste.
- Data Entry Review: Review and analyze production data for accuracy and reasonableness. Investigate and make corrections as necessary.