Cost Accountant duties and responsibilities

Cost Accountants collaborate with other accountants and financial staff in the company to provide financial and accounting support to executives and department heads who establish goals and budgets for the organization. Their duties include:

• Collecting and analyzing data about a companys operational costs
• Setting standard costs of manufactured goods
• Developing and analyzing cost standards
• Carrying out cost-volume-profit (CVP) analysis, including for small businesses
• Establishing costs of business processes such as administration, labor, shipping, etc.
• Performing account reconciliations
• Preparing audit reports and presenting their findings to management
• Recommending changes to the companys processes and policies to reduce cost and maximize profit
• Advising executives and upper management on appropriate costing based on financial data
• Managing the companys balance sheet and accounting books
• Supporting other company accountants with invoicing and capital expenditure