Cost Accountant Analyst Plays One of the Most Important Roles in the Organization
Cost accountant analyst performs one of the most important roles in the entire organization. It is really imperative that the companies pay a great emphasis on the job of an accountant analyst. Cost accountancy deals with the preparation of the financial reports that are meant for the knowledge of the internal managers. All the decisions that are taken by the company management regarding the future of the company are based on the financial reports that are prepared by the cost accountants. The cost accountant analyst is not at all answerable to any of the accounting bodies as the reports that are prepared by him are meant only for the purpose of the internal improvement as well as informed decision making.
Some of the responsibilities that are taken care of by the cost accountant analyst are:
- Analyze as well as put to rights monthly material, labor and the overhead expenses
- Reconcile daily productions with accounting transactions
- Coordinate with R&D and production on the commercialization of new items
- Assistance with the month end reconciliation as well as analysis
- He has to assist the controller as well as the improvement manager in developing cost improvement opportunities
- He might even have to attend the meetings with the marketing department to discuss the marketing agenda as well as costing
- He also has to prepare the new product costing as well as do the gross profit analysis for the marketing in order to determine the feasibility and profitability before presenting the samples and pricing to the customers.
- He also has to coordinate with the R&D and production regarding the commercialization of the new items
Some of the skills as well as qualifications that are required in order to become a successful cost accountant analyst are:
- Fabulous written as well as oral communication skills
- He must have the ability to interact with the personnel from any echelon
- A graduation degree is a must in accounting
- He must have the experience of some years in the same domain