Senior Cost Accountant in Norwood at ITW Test & Measurement and Equipment

Date Posted: 1/31/2020

Job Snapshot

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Job Description

Senior Cost Accountant
Instron® is a global organization that designs, manufactures, sells and services materials testing systems. Instron is a clear global leader in materials testing applications and its leadership in the marketplace is continually expanding. You will find that our established strength, commitment to our core values and team focus provides an engaging work environment and offers exceptional opportunities for personal and career development.


As a key member of the financial organization, this position is responsible for the cost and inventory accounting at our Norwood, MA and Binghamton, NY facilities.  Reporting to the Divisional Controller, primary duties include month and quarter end close activities, performing cost and variance analysis as well as maintaining standard costs.  This individual will act as a business partner to our operations team, working closely with them to understand key cost drivers and to identify areas for improvement.
Principal Duties and Responsibilities
  • Responsible for all month end close activities related to cost and inventory accounting. This includes booking journal entries, preparing account reconciliations, analysis and reporting of manufacturing expense accounts, non-standard costs and material margin.
  • Calculating and analyzing slow and obsolete inventory reserves
  • Calculating and analyzing warranty reserves
  • Creating and maintaining purchase price variance reports and other cost/inventory reports.
  • Preparing monthly reports of financial results for local management. These reports generally compare actual performance to plan, forecast and/or prior period.
  • Responsible for the preparation of annual budgets and short-term forecasts related to manufacturing/operations.
  • Ensuring compliance with ITWs cycle count and physical inventory policies
  • Updating standard costs in the bill of materials.
  • Reviewing standard and actual costs for inaccuracies.
  • Validating the cost of goods sold as part of the month-end close.
  • Responsible for the accuracy and timeliness of the year end cost roll.
  • Work with ITW Corporate and Auditors on all issues relative to this position. Prepares and / or assists in the preparation of the quarterly Kit schedules and Annual Tax Packages required for reporting to ITW.
Knowledge, Skills & Abilities Required
  • BS/BA in Accounting/Finance and five (5) years of relevant experience in Finance and Accounting, including at least one (1) year in a cost accounting role.
  • Must possess leadership qualities, including being flexible, reliable and an effective communicator, in order to work effectively with co-workers, both internal and external to the department.
  • A positive attitude focused on understanding, anticipating and responding to the needs of our customers, both internal and external to the department and company.
  • Interpersonal skills needed to deal effectively with suppliers, customer and company personnel in resolving discrepancies and disputes.
  • Strong Analytical Skills and detail oriented. Aptitude to work quickly and accurately to process large volumes of work.
  • Proficient in the use of Microsoft Office, especially Excel, Word and PowerPoint.
  • Familiarity with accounting software and cost/project accounting tools, including consolidating and reporting software.
Working Conditions
Normal office environment with little or no exposure to adverse conditions.
Take this opportunity to join a successful and enthusiastic global team where you can make a significant impact immediately. Enjoy a competitive salary and generous benefits that includes health, dental, life and LTD insurance, 401k (with match), and a 100% tuition reimbursement program. Instron is an Equal Opportunity/Affirmative Action employer. We employ, train, compensate and promote regardless of race, religion, color, national origin, sex, disability, age, veteran status, and other protected status as required by applicable law.