Sr Cost Accountant

JOB SUMMARY

The Senior Cost Accountant manages the cost accounting function, including month-end close, cost analysis, and inventory valuation. Key responsibilities include preparing journal entries, ensuring accurate inventory valuation, maintaining the standard cost system, analyzing cost variances, and updating product costs. The role also involves collaborating with cross-functional teams, assisting with audits, and participating in ad hoc projects. This position requires strong analytical skills and effective cross-departmental collaboration.

KEY RESPONSIBILITIES

Daily/Weekly Responsibilities

• Oversee RPA-generated labor hours uploads into QAD.
• Review and approve Product Change Requests (PCRs/PCOs).
• Monitor item master records, update material cost for new parts.
• Manage sales channel setup for new product lines.
• Weekly analysis of Material Variances.

Monthly Responsibilities

Financial Close and Reporting

• Manage the month-end close process for cost accounting.
• Prepare and post journal entries related to inventory, cost of sales, reserves, and manufacturing activities.
• Perform balance sheet reconciliations for inventory and related accounts.
• Analyze manufacturing variances, including labor, material, overhead, and purchase price variances.

Inventory Management and Analysis

• Review cycle count adjustments and ensure discrepancies are properly investigated and resolved.
• Review Work-in-Process (WIP) balances and resolve outstanding issues.
• Review monthly inventory adjustment tracking generated by Materials Manager.
• Monitor and assess financial risk related to inventory located in QA hold, Return-to-Vendor (RTV) and other holding locations.
• Perform inventory turn analysis by product line.
• Quarterly perform Lower of Cost or Net Realizable Value inventory analysis

Reserve and Risk Analysis

• Lead Excess & Obsolete inventory review meetings with Product Managers.
• Monthly track the inventory items with highest E&O values (e.g. top 25%) and recommend actions to mitigate the risk.
• Identify inventory items at risk of becoming excess or obsolete and provide a rolling forecast for the next six months and beyond.

Operational and Labor Analysis

• Upload temporary labor hours for month-end close.
• Prepare and distribute overtime dashboard reporting.
• Perform direct labor efficiency analysis.
• Prepare and distribute forecast accuracy reporting.
• Update finished goods costs based on current tariff guidance and cost assumptions.

Annual Responsibilities

• Lead the annual standard cost roll process.
• Assist with annual financial statement audits and audit requests.
• Coordinate finance activities related to the annual physical inventory.
• Partner with Quality to review customer warranty agreements and associated financial impacts.
• Coordinate with Supply Chain to reconcile consignment inventory balances between supplier records and ERP data.
• Collaborate with Operations on manufacturing time studies.
• Support annual budgeting and forecasting activities related to manufacturing costs and inventory.

Continuous Improvement and Special Projects

• Partner with IT to enhance reporting, automation, and data analytics capabilities.
• Develop and maintain accounting procedures, work instructions, and process documentation.
• Partner with the VP of Operations to identify opportunities to improve productivity
• Participate in cross-functional projects and perform ad hoc financial analyses as needed.

Experience and Qualifications Needed:

• Education: Bachelor’s degree in accounting, Finance, or related field CPA or CMA preferred).
• Experience: Minimum 3 years of cost accounting experience in a manufacturing or production environment.
• Skills:
  • Proficiency in accounting software and ERP systems.
  • Advanced Excel skills for data analysis and reporting.
  • Strong analytical, problem-solving, and organizational skills.
• Knowledge:
  • In-depth understanding of cost accounting principles and inventory management.
  • Familiarity with cycle counting and physical inventory processes.
• Communication: Strong verbal and written communication skills to effectively present findings and recommendations.

About Crane Co

Crane Company (NYSE: CR) is a manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products and solutions to customers in the aerospace, defense and space, chemical and petrochemical, water and wastewater, pharmaceutical, and general industrial end markets. The Company operates through two strategic growth platforms: Aerospace & Electronics and Process Flow Technologies. Crane has approximately 7,000 employees across the Americas, Europe, the Middle East, Asia, and Australia. For more information, visit www.craneco.com.

Crane Co. reserves the right to change or assign other duties to this position. The statements contained herein reflect general details as necessary to describe the principal functions of this job, the level of knowledge and skill typically required and the scope of accountability and responsibility. These descriptions should not be considered to be all-inclusive listings of work requirements.

Salary range: $95,000 to $105,000. Several factors contribute to actual salary, including experience in a similar role or performing comparable job responsibilities, skills, training, and other qualifications. Compensation packages also include comprehensive benefits, 401K contribution and match, Paid Time Off, paid holidays, tuition reimbursement and more. Some roles may be eligible for participation in performance-based bonus programs

This description has been designed to indicate the general nature and level of work being performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Crane Company. is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment and will not be discriminated against on the basis of race, color, religion, gender, sexual orientation, general identity, national origin, disability or veteran status.