Cost Accounting Manager - Champlin, MN at MGM Transformer LLC

Champlin, Minnesota, United States -

Full Time

Start Date

Immediate

Expiry Date

26 Jun, 26

Salary

139000.0

Posted On

28 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Inventory Accounting, Cost Accounting, Financial Reporting, Month-End Close, Variance Analysis, GAAP, ERP Systems, Physical Inventory Counts, Process Improvement, Accruals, Fixed Assets, Intercompany Reconciliations, Cost of Goods Sold, Internal Controls, Audit Support, Excel

Industry

electrical;Appliances;and Electronics Manufacturing

Description

Description At Forgent Power, we bring together over a century of industry expertise with the energy and innovation of a modern startup. We design and manufacture advanced power and electrical systems that keep industries, communities, and people connected. Our legacy of craftsmanship and reliability meets a culture driven by curiosity, collaboration, and continuous improvement. We’re building the future of power—with people who are passionate about their craft and inspired to make a difference. Position Summary: A cost accounting manager with an emphasis on inventory accounting is responsible for overseeing all inventory-related accounting processes, including accurate valuation, month-end closes, and reporting. This role involves managing and optimizing inventory controls, performing variance and cost analysis, coordinating physical counts, performing intercompany inventory balance reconciliations, and ensuring compliance with accounting standards like GAAP. The manager collaborates with operations, sales and supply chain teams to improve efficiency, manage reserves for excess/obsolete stock, and support financial decision-making. This role also involves preparing and reviewing other key workbooks and calculations, including prepaid expenses, fixed assets, various accruals, and debt, for the monthly, quarterly and annual close process. Key responsibilities • Manage inventory accounting: Oversee the accounting for raw materials, work-in-progress, and finished goods, unbilled inventory, intercompany inventory profit elimination. • Financial reporting: Prepare and analyze financial reports, with a specific focus on inventory performance, valuation, and cost of goods sold (COGS). • Month-end, quarter-end and year-end close: Lead and support the closing activities ensuring completeness and accuracy in reporting. This includes preparing and/or reviewing reconciliations, journal entries, and account roll-forwards related to various general ledger accounts. • Cost accounting: Perform cost and variance analysis, support actual vs standard cost updates, and analyze inventory trends. • Inventory controls and audits: Develop and implement internal controls, manage physical inventory counts (cycle counts, full counts), and conduct regular audits. • Discrepancy resolution: Investigate and resolve complex inventory discrepancies and reconcile inventory accounts. • Excess and obsolete inventory: Manage the process of identifying, reporting, and disposing of excess, obsolete, or slow-moving inventory, including calculating and recording reserves. • Cross-functional collaboration: Work closely with legal, FP&A, sales, operations, supply chain, and other departments to improve processes, address issues, and support strategic goals. • Audit support: Assist internal and external auditors with various inquiries and schedules ensuring audit-ready documentation • Process improvement: Identify and implement process and system improvements to enhance operational efficiency and reporting accuracy. Qualifications • Education: Bachelor's degree in Accounting, Finance, or a related field. • Certification Requirement: Active Certified Public Accounting (CPA) license. • Experience: 7+ years of progressive accounting experience, with significant inventory accounting experience preferred. Prior experience in manufacturing is often required. • Technical skills: Proficiency in ERP systems (e.g., Syteline, NetSuite), reporting tools (e.g. Floqast) and Microsoft Excel. Strong technical aptitude to be a fast learner of new applications, to perform in a power user role is expected. • Knowledge: Strong understanding of US GAAP, SEC regulations and internal controls. Strong team player with very good working knowledge of manufacturing process flows and their related ERP systems transactions flows. Core Competencies and Behaviors: • Soft skills: Excellent analytical skills, attention to detail, and strong communication and interpersonal skills to collaborate across departments. Self-starter who will take ownership of projects with proven ability to manage multiple priorities and meet tight deadlines in a dynamic environment. Disclaimer: The statements above are intended to describe the general nature and level of work being performed. They are not an exhaustive list of all responsibilities, duties, or skills required. Forgent Power reserves the right to modify, interpret, or apply this job description as needed. Equal Employment Opportunity Statement: Forgent Power is an equal opportunity employer. We are committed to creating an inclusive environment for all employees. Employment decisions are made without regard to race, color, religion, sex, national origin, age, disability, veteran status, or any other protected class.

Responsibilities

The Cost Accounting Manager oversees all inventory-related accounting processes, including accurate valuation, month-end closes, and reporting, while managing inventory controls and performing variance and cost analysis. This role also involves preparing and reviewing key workbooks for prepaid expenses, fixed assets, accruals, and debt during the financial close process.