Inventory Accounting Manager

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Requirements:

• Extensive experience with inventory and cost of goods sold accounting
• The ability to clearly articulate key findings from inventory and cost of goods sold analysis in order to drive change
• Experience partnering with accounting leadership to implement internal controls over physical inventory and inventory reporting
• Understanding of US GAAP inventory reporting requirements
• A biased to action, positive attitude
• The ability to achieve deadlines and juggle multiple competing priorities while managing expectations

Responsibilities:

• Perform monthly cost accounting close, including review of journal entries, reconciliation of sub ledgers to general ledger, account balance review, analysis and reconciliation, etc to support accurate and timely submission of financial statements.
• Perform actual COGS month on month variances and margin analysis. Work closely with FP&A team on actual and forecast analysis.
• Lead COGS analytics with a strong finance focus; develop and maintain detailed COGS variance analysis.
• Manage monthly E&O review meetings and partner with Operations and Supply Chain to analyze inventory for potential excess and obsolete reserves and make related entries in accordance with the company’s policies.
• Plan, collect, and analyze data to drive the standard cost revaluation processes; implement cost update periodically with inputs from Supply Chain; provide impact analysis for review and approval; investigate/resolve significant variances in between updates.
• Develop and maintain methodology for calculating and applying material costs, labor costs and overhead rates as required by generally accepted accounting principles.
• Assist in developing processes and utilizing systems enhancements to ensure inventory control and the accuracy of inventory data, implement changes as needed.
• Owner of COGS allocation process during month-end close, actively working with different cost teams across the organization to assign COGS per company’s ASC 705 Cost of Sales and Services policy. Actively participate in modifying and updating ASC 705 policy to reflect the company's changing needs.
• Owner of inventory capitalization process during month-end close, closely working with supply chain and logistics team to correctly align capitalization of expenses with inventory movement.
• Develop a BOM cost analysis model from scratch to identify cost variances on component sourcing costs, finished goods assembly costs, kitting labor costs, fulfillment costs, inventory in-stock cost (with and without intercompany mark-up). Provided key insights to BOM cost variations.
• Validate system FIFO/LIFO/Average costing flow, from raw materials, BOM assemblies, Finished Goods, to COGS, and vice versa, tracing COGS backwards to component sourcing costs. Create various reports in NetSuite for future investigation and validation needs.
• Prepare monthly/quarterly reporting related to costing and inventory, other ad hoc analysis/reporting and project as needed.