Cost Accounting Jobs description

Cost accounting is the process of tracking, recording, and analyzing costs related to the products or activities of an organization. Managers use cost accounting to support decision making aimed at reducing a company's costs and improving its profitability. Among the functions of cost accounting jobs are the collection, assimilation, and analysis of financial information from all areas of the given organization. The cost accountant is expected to forecast the projects to be undertaken based on a company’s past and present finances. Other responsibilities include planning costing systems, measuring inventory controls, analyzing investments, internal auditing, and interpreting information and data related to business activities.

Cost accountants must have a financial/cost accounting degree or diploma. Various companies also seek cost accountants with sound knowledge of costing and accounting practices consistent with the requirements of the given organization. Knowledge of accounting systems (including SAP) and Microsoft Office (with an emphasis on Excel) are essential for the job of cost accounting. Other equally important requirements are an ability to communicate, negotiate, and interact closely with business users at all levels.

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