Inventory Control Cost Accountant

Location:

Secaucus, New Jersey

Job Summary:

The Inventory Cost Accountant will support various inventory control functions within the Finance Department. This role involves managing and analyzing the costs associated with sourcing inventory, ensuring accurate costing methods, and providing insights for inventory control and financial decision-making. The Inventory Cost Accountant will work closely with operations, accounting and finance teams to optimize inventory valuation and contribute to the accuracy of financial reporting. In addition, this position will monitor the accuracy of the inventory levels, identify variances in inventory and inventory costs, resolve inventory issues, and provide solutions to improve efficiency and accuracy in inventory systems.

Responsibilities:

Key Accountabilities:

• Assist in the review of the Company’s application of costing methods to determine inventory value.
• Perform monthly and quarterly inventory reconciliations and adjustments
• Analyze and prepare journal entries for inventory reserves and all subsequent backup documentation (account reconciliations, relevant analytics, etc.
• Prepare detailed cost analysis reports, including variances between standard and actual costs
• Conduct regular reviews of inventory turnover, obsolescence, and slow-moving items
• Ensure compliance with accounting standards (US GAAP) and company policies related to inventory costing
• Maintain internal controls to safeguard inventory assets and prevent discrepancies
• Work with internal and external auditors to gather accurate documentation in an organized and timely manner
• Execute inventory movements in SAP
• Communicate with DC, DC Finance Ops and Store Ops regarding all inventory related issues, facilitating continued communication with business partners and providing solutions when necessary
• Reconcile cycle counts and annual physical inventories for retail stores and Distribution Center (both SEDC/Offsites and 3PL) inventory
• Complete month-end, quarter-end, and year-end closing activities
• Perform special projects and analyses assigned by management

Education and Experience:

• Bachelor’s degree in accounting
• 2-5 years of experience in related field, public accounting experience a plus
• Experience in US GAAP and accrual basis of accounting

Skills and Behaviors:

• Experience in accounting systems (SAP and Hyperion Essbase a plus)
• Familiarity with inventory management tools integrated into ERP (Warehouse Management Systems)
• Proficient in Microsoft Office with advanced skills in Excel (pivot tables, VLOOKUP, etc.)
• Ability to be self-motivated, learn quickly and to work independently as well as with a team
• Possess strong organizational skills, attention to detail, and the ability to multitask
• Demonstrate flexibility and the ability to work in a time sensitive working environment with shifting priorities (especially during month-end closing processes)
• Strong verbal and written communication skills; ability to explain financial data and balances to non-financial stakeholders