What does a Cost Accounting Manager do?
Published 3 min read
A cost accounting manager is responsible for all aspects of an organization's cost accounting. This includes creating and maintaining cost accounting records, ensuring accuracy and compliance with regulations, and providing reports to management. The cost accounting manager may also be responsible for developing and implementing cost-saving initiatives.
Cost Accounting Manager job duties include:
- Develop and maintain cost accounting systems
- Analyze costing data and recommend improvements to cost accounting systems
- Oversee the preparation of cost reports
- Analyze cost reports and recommend ways to improve profitability
- Monitor inventory levels and costing
- Review product costs and pricing
- Analyze manufacturing processes and costs
- Recommend ways to reduce production costs
- Work with other managers to develop budgets and track actual costs against budget
Cost Accounting Manager Job Requirements
A Cost Accounting Manager typically needs a bachelor's degree in accounting or a related field, and many employers prefer candidates who have a master's degree or certification, such as a Certified Public Accountant (CPA) or Certified Management Accountant (CMA). They also need several years of experience working in accounting and management. Strong analytical, problem-solving, and communication skills are essential for this job, as is the ability to work well under pressure and meet deadlines.
Cost Accounting Manager Skills
- Strong analytical and problem solving skills
- Excellent communication (written and oral) and interpersonal skills
- Strong organizational, time management and prioritization skills
- Ability to work independently and as part of a team
- Ability to meet deadlines and handle concurrent projects
- Strong attention to detail
- Proficient in Microsoft Office (Word, Excel, PowerPoint, Outlook)
- Experience with cost accounting software (e.g. SAP, Oracle, PeopleSoft)
- Knowledge of Generally Accepted Accounting Principles (GAAP)
- CPA or MBA preferred
Related: Top Cost Accounting Manager Skills: Definition and Examples
How to become a Cost Accounting Manager
A cost accounting manager is responsible for all aspects of an organization's cost accounting. They oversee the development and implementation of cost accounting systems, and ensure that these systems are accurate and compliant with all relevant regulations. They also work closely with other departments to ensure that costs are accurately tracked and reported.
To become a cost accounting manager, you will need at least a bachelor's degree in accounting or a related field. You will also need several years of experience working in an accounting or finance role. Strong analytical and problem-solving skills are essential, as is the ability to effectively communicate with other departments and stakeholders.
Related: Cost Accounting Manager Resume Example
Related: Cost Accounting Manager Interview Questions (With Example Answers)