Cost Accounting Manager Job Description [Updated for 2025]

In the modern business landscape, the role of a Cost Accounting Manager has become increasingly essential.

As businesses evolve and financial complexities rise, there’s a growing demand for proficient professionals who can manage, analyze and strategize around costs and financial operations.

But let’s delve deeper: What’s truly expected from a Cost Accounting Manager?

Whether you are:

• A job seeker trying to understand the core responsibilities of this role,
• A hiring manager defining the perfect candidate,
• Or simply curious about the intricacies of cost accounting management,

You’re in the right place.

Today, we present a customizable Cost Accounting Manager job description template, designed for effortless posting on job boards or career sites.

Let’s get started.

Cost Accounting Manager Duties and Responsibilities

Cost Accounting Managers oversee and control the financial resources of a company, specifically focusing on cost accounting, budgeting and financial planning.

They are responsible for managing the cost information and reporting for an organization.

Their duties and responsibilities include:

• Managing and overseeing the daily operations of the cost accounting department
• Monitoring the company’s inventory, including physical counts, tracking, and valuation
• Analyzing and reviewing the company’s budgets and expenditure for maximum cost-effectiveness
• Preparing and presenting cost reports and profitability analysis to management
• Identifying and recommending cost-effective solutions to improve financial performance
• Implementing cost accounting systems and strategies to ensure accurate financial reporting
• Collaborating with auditing services to ensure proper compliance with all regulations
• Directing the preparation of the budget and financial forecasts, report variances
• Ensuring accurate and timely monthly, quarterly and year end close
• Resolving accounting discrepancies and irregularities
• Training and supporting junior staff in the accounting department

 

Cost Accounting Manager Job Description Template

Job Brief

We are seeking a diligent Cost Accounting Manager to oversee our cost management systems.

Your responsibilities will include cost analysis, financial planning, reporting and budgeting.

You should also be able to establish and maintain the cost accounting system and have excellent analytical skills along with the ability to combine different data and calculate profit margins.

Our ideal candidate should be able to create detailed reports that present cost-effective solutions for our company.

Ultimately, you should build updated databases and manage cost information to maximize profitability for our company.

 

Responsibilities

• Develop and implement cost standards for materials and labor
• Design and implement cost accounting systems
• Prepare and analyze cost reports
• Provide management with detailed cost data not ordinarily included in general ledgers
• Coordinate physical inventory counts and cycle counts
• Review standard and actual costs for inaccuracies
• Validate cost of goods sold as part of the month-end close
• Assist in budgeting and forecasting activities
• Adhere to internal and external audit controls
• Maintain cost accounting system and cost ledger

 

Qualifications

• Proven work experience as a cost accountant, cost analyst, accountant or similar role
• Thorough knowledge of accounting procedures
• Experience with accounting software, like SAP or Oracle
• Strong attention to detail and good analytical skills
• BSc degree in Accounting, Finance or relevant study
• CPA or CMA preferred

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Cost Accounting Manager
• Work Environment: Traditional office setting. May be required to travel for internal audits or meetings.
• Reporting Structure: Reports to the CFO or Financial Controller.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $85,000 minimum to $120,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Cost Accounting Manager Do?

Cost Accounting Managers primarily work in the finance department of various industries, handling the cost management for the firm.

They may be employed directly by companies or work as consultants.

Their role involves overseeing and directing the cost accounting function, which includes managing the cost system, inventory valuation, and cost of goods sold.

They usually work closely with other finance team members and operations managers to plan, study, and collect data to determine costs of business activity.

Cost Accounting Managers are responsible for analyzing data collected and recording results, evaluating cost efficiency, profitability and implementing cost-effective solutions.

They also prepare periodic reports comparing budgeted costs to actual costs.

They may also oversee inventory management, which includes coordinating physical inventory counts and reconciling actual stock count to computer-generated reports.

They are also tasked with reviewing and analyzing inventory and margin reports, conducting research and performing analytical studies in regard to cost analyses and profitability.

Another significant part of their role is to ensure compliance with internal controls and company policies, as well as participating in audits and providing necessary support.

They also assist in the establishment and implementation of new or revised accounting systems, policies, and procedures.

In summary, the Cost Accounting Manager plays an integral role in cost management, financial analysis, and strategic decision-making within a firm.

 

Cost Accounting Manager Qualifications and Skills

A competent Cost Accounting Manager should have the skills and qualifications that align with your job description, such as:

• Strong understanding of cost accounting principles and the ability to apply these principles effectively in a business setting.
• Excellent analytical skills to accurately interpret complex financial data and use it to inform management decisions.
• Proficient in the use of accounting software, spreadsheet software, and financial management systems.
• Exceptional leadership skills to manage a team of cost accountants, ensuring they work efficiently and meet all deadlines.
• Good communication skills to articulate financial concepts and information to non-financial staff, stakeholders, and executive management.
• Attention to detail to ensure accuracy in performing financial analyses and preparing financial reports.
• Problem-solving skills to identify financial anomalies, discrepancies, and cost overruns and recommend appropriate corrective actions.
• Experience in budgeting and financial forecasting to assist in the preparation of annual budgets and financial projections.
• Ability to maintain confidentiality of sensitive financial information.
• Knowledge of relevant financial regulations and standards.

 

Cost Accounting Manager Experience Requirements

Entry-level candidates for the role of Cost Accounting Manager typically have a minimum of 5 to 7 years of experience in cost accounting or related fields.

This experience is usually gained through roles such as Cost Accountant, Financial Analyst, or similar positions within the finance department.

Candidates should have a thorough knowledge of accounting principles and laws, experience with budget preparation, financial reporting, as well as in-depth understanding of cost accounting procedures and methods.

Those with more than 7 years of experience often have a proven track record in cost accounting, and may have developed their skills and knowledge through higher-level roles such as Senior Cost Accountant or Cost Accounting Supervisor.

Candidates with more than 10 years of experience typically have extensive leadership experience and may have served as a Financial Controller, Director of Finance, or in a similar high-level financial management role.

In addition to accounting experience, candidates for the Cost Accounting Manager position should also have strong analytical skills, the ability to work in a fast-paced environment, and excellent communication skills to effectively interact with other departments and senior management.

 

Cost Accounting Manager Education and Training Requirements

Cost Accounting Managers generally need a bachelor’s degree in accounting or a related field such as finance or business administration.

They should have a solid understanding of cost accounting principles and practices, financial analysis and budgeting processes.

Proficiency in relevant software applications, such as Excel, QuickBooks, and other accounting software is also essential.

Many companies prefer candidates with a Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation.

These certifications require a bachelor’s degree, relevant work experience, and passing a comprehensive exam.

For senior-level roles or positions in larger organizations, a master’s degree in accounting or business administration (MBA) with a focus on accounting may be required.

In addition to formal education, Cost Accounting Managers should have several years of experience in accounting or finance.

Prior managerial experience is also often necessary, as these roles require the ability to lead a team and make strategic decisions.

Continuous professional development is important in this role.

Therefore, attending workshops, seminars, and courses to stay updated on the latest accounting trends, laws, and software can increase job prospects and career advancement opportunities.

 

Cost Accounting Manager Salary Expectations

A Cost Accounting Manager earns an average salary of $105,000 (USD) per year.

The salary can fluctuate based on factors such as experience, educational background, the specific industry, and the geographical location.

 

Cost Accounting Manager Job Description FAQs

What skills does a Cost Accounting Manager need?

A Cost Accounting Manager should possess strong analytical skills to interpret complex financial data, strategic thinking for cost reduction and profit optimization, and a good understanding of cost accounting principles.

They should also have leadership skills to guide their team efficiently and excellent communication skills to liaise with other departments.

 

Do Cost Accounting Managers need a degree?

Yes, Cost Accounting Managers typically require a Bachelor’s degree in Accounting, Finance, or a related field.

Most employers also prefer candidates with a Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation.

A Master’s degree in Business Administration or Accounting can be beneficial for career advancement.

 

What should you look for in a Cost Accounting Manager’s resume?

A Cost Accounting Manager’s resume should highlight their experience in cost accounting, preferably in a managerial role.

Look for a strong understanding of accounting principles and regulations, proficiency in accounting software, and excellent analytical skills.

Certifications like CPA or CMA are also advantageous.

Evidence of successful cost reduction strategies and profit optimization projects should also be present.

 

What qualities make a good Cost Accounting Manager?

A good Cost Accounting Manager is detail-oriented and has the ability to analyze and interpret complex financial data.

They should also be strategic thinkers, with the ability to develop and implement cost-saving strategies.

Excellent leadership skills are essential for managing and motivating their team.

They must also have strong communication skills for liaising with other departments and presenting financial reports.

 

What are the daily duties of a Cost Accounting Manager?

A Cost Accounting Manager typically oversees the cost accounting operations of a company.

This includes managing cost analysis processes, preparing and reviewing cost reports, coordinating with the inventory management team, and assisting in budget preparation.

They also work closely with the finance department to ensure accuracy of financial data and may participate in financial audits.

Additionally, they are responsible for training and supervising cost accounting staff.

 

Conclusion

And there we have it!

Today, we’ve given you an insider’s look at what it truly means to be a Cost Accounting Manager.

Surprise!

It’s not only about crunching numbers.

It’s about shaping the financial future of a company, one budgeting decision at a time.

With our comprehensive Cost Accounting Manager job description template and realistic examples, you’re fully prepared to take the next step.

But why put a limit?

Delve deeper with our job description generator. It’s your go-to tool for creating precise job listings or refining your resume to the highest standard.

Remember:

Every budgeting decision contributes to the larger financial picture.

Let’s shape that future. Together.

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