Modern Industries

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Cost Accountant

at Modern Industries

Posted: 1/3/2020
Job Status: Full Time

Job Description

Modern Industries Inc. - Cost Accountant


The cost accountant position is accountable for the ongoing analysis of process constraints, target costing projects, margin analysis, and tracing costs back to underlying activities.  The cost accountant must also construct and monitor those cost-effective data accumulation systems needed to provide an appropriate level of costing information to management.

What You’ll Accomplish - Your Performance Objectives

Objective #1:

Within your first 6 months, refine our employee department assignments so they more accurately mirror our production environment as well as considering setting options in our third party payroll software.

  • Act as project manager coordinating with Engineering, Production and HR to update employee labor costing rates
  • Create outline of data fields available in ERP and Payroll software and provide logical mapping that allows for ease in future labor costing rate updates
  • Create a system to audit employee moves, adds and changes across all platforms

Objective #2:

Within your first 9 months, drastically reduce the amount of manual work required to generate accurate and effective daily, weekly and monthly reports.

  • Modify and streamline existing reports to eliminate redundant manual processes
  • Work with IT to schedule report automation via email as well as create report services in SharePoint
  • Train, educate and document procedures for end user proficiency

Additionally, the Cost Accountant will generally lead the following processes:

Cost Accounting:

  • Establishment of Labor & Machine rates
  • Standard Cost versus Actual Cost variance analysis
  • Construct automated data accumulation systems for a cost accounting system
  • Report on periodic variances and their causes, focusing in particular on spending and labor
  • Research purchase price variances and make sure appropriate actions are taken
  • Maintenance of part and sub contract costs in ERP system
  • Update standard costs in the bill of materials
  • Accumulate and apply overhead costs as required by generally accepted accounting principles 


  • Daily/Weekly/Monthly Management reporting
  • Fixed asset tracking
  • Trains and instructs other employees as directed
  • Experience manipulating large databases
  • Strong analytical skills
  • ERP experience is a must
  • Able to work independently

Who We’re Looking For – The Personal Competencies That Matter

Technical abilities – We need to know that we can lean on you to lead our dynamic cost accounting process.  Running our business properly requires an ability to accurately analyze and predict our cost of manufacturing our unique product mix and quickly course-correct when things go off course or take advantage of opportunities. You also need to possess strong technical accounting skills.

Influencing and relationship-building – We want someone with the ability to quickly establish
credibility with and gain the trust and respect of everyone in the organization: from the senior
leadership team to frontline employees, and everyone in between. A good Cost Accountant
understands the nuances and complexities of executing on an agenda, which influences multiple
areas of the company. You must be able to balance asking the right questions with providing direction to ensure that the necessary action is taken.

Balanced (short and long-term) - You are as hands-on as you are visionary and recognize
that nothing gets done without execution. You consistently demonstrate a solid understanding of
the trade-offs between tactics and goals with an emphasis on long-term value creation.

Supervises: None

Education / Certifications: 
Bachelor’s degree in Accounting required
CPA or CMA certification preferred but not required

Required Experience:

  • Cost Accounting: 3 years