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Cost Analyst (SJ)

Cost Analyst (SJ)

Foxconn Industrial Internet - FIISan Jose, CA, US
30+ days ago
Job type
  • Full-time
  • Quick Apply
Job description

Responsibilities :

  • Cost Analysis : Analyzing cost data and financial records to identify areas of improvement, cost-saving opportunities, and potential risks.
  • Conducting cost-benefit analyses and providing recommendations based on findings.

Budgeting and Forecasting :

  • Assisting in the development of budgets and financial forecasts by analyzing historical data, market trends, and operational factors.
  • Collaborating with various departments to gather necessary information and ensure accuracy in budgeting processes.

    • Cost Control :

  • Implementing strategies to control costs and ensure adherence to budgetary guidelines.
  • Monitoring expenses, identifying cost overruns, and recommending corrective actions to achieve financial targets.

    • Financial Reporting :

  • Preparing regular financial reports, cost analysis reports, and variance analysis reports to provide insights into cost performance.
  • Presenting findings to management and stakeholders, highlighting key cost drivers and deviations from budgeted amounts.

    • Process Improvement :

  • Identifying opportunities to streamline processes and enhance cost efficiency within the organization.
  • Proposing and implementing process improvements, cost-saving initiatives, and best practices to optimize resource allocation.

    • Cross-functional Collaboration :

  • Working closely with various departments, such as finance, operations, procurement, and project management, to gather cost-related data, provide insights, and align cost management strategies with organizational goals.

    • Invoicing and Billing :

  • Generating accurate and timely customer invoices and bills based on contractual terms and sales transactions.
  • Ensuring invoices are properly coded, approved, and distributed to customers.

    • Accounts Receivable Aging Analysis :

  • Reviewing and analyzing the aging of accounts receivable, identifying past due accounts, and tracking trends in collections.
  • Providing regular reports to management on outstanding balances and collection efforts.

    • Invoice Processing :

  • Receiving, reviewing, and verifying invoices from vendors for accuracy, completeness, and compliance with company policies and procedures.
  • Ensuring proper coding, approval, and documentation before processing payments.

    • PI Count for Inventory and Fixed Asset :

  • Developing a comprehensive plan for conducting PI counts of fixed assets and inventory.
  • Coordinating with relevant departments, such as finance, operations, and supply chain, to schedule the counts and allocate necessary resources.

    • Skills :

  • Financial Analysis : Proficiency in financial analysis is crucial for cost management.
  • This includes understanding financial statements, cost structures, profitability analysis, and financial ratios.
  • Strong analytical skills are necessary to identify cost drivers, assess cost-saving opportunities, and perform financial modeling.

    • Cost Accounting :

  • A solid understanding of cost accounting principles and techniques is essential.
  • This includes knowledge of cost allocation methods, variance analysis, standard costing, activity-based costing (ABC), and cost estimation.
  • Familiarity with cost accounting software and tools is beneficial.

    • Data Analysis and Interpretation :

  • Skilled data analysis is critical for cost management.
  • Proficiency in Excel or other data analysis tools is important for working with large datasets, performing cost analyses, and generating meaningful insights.
  • The ability to interpret data accurately and draw actionable conclusions is crucial.

    • Business Acumen :

  • A strong business acumen helps cost management professionals understand the organization's goals, industry dynamics, competitive landscape, and market trends.
  • This knowledge allows them to align cost management strategies with overall business objectives effectively.

    • Communication Skills :

  • Effective communication skills are vital for collaborating with stakeholders at different levels, such as management, finance teams, operational departments, and vendors.
  • Clear and concise communication is necessary to present cost analysis findings, recommendations, and cost-saving initiatives.

    • Problem-Solving :

  • Cost management often involves identifying and resolving complex financial and operational issues.
  • Strong problem-solving skills are essential for analyzing challenges, developing creative solutions, and implementing cost-effective strategies.

    • Attention to Detail :

  • Paying meticulous attention to detail is critical in cost management to ensure accuracy in financial analysis, cost tracking, and reporting.
  • Precision is necessary when examining cost data, identifying discrepancies, and conducting audits.

    • Project Management :

  • Cost management often involves working on projects with multiple stakeholders and deadlines.
  • Strong project management skills, including planning, organizing, and prioritizing tasks, are valuable for successfully executing cost management initiatives.

    • Ethical Conduct :

  • Cost management professionals handle sensitive financial information and are expected to adhere to ethical standards, confidentiality, and integrity.
  • They should demonstrate professionalism, honesty, and ethical behavior in all aspects of their work.

    • Required Knowledge, Skills and Abilities :

  • Advanced Excel skills Good communication skills, written and oral.

    • Attention to detail is a must Knowledge in ERP programs such as Oracle / SAP preferred Strong analytical skills and experience Education and Experience :

  • Bachelor’s degree in Accounting / Finance or related major required. 3+ years of experience in cost accounting preferred, preferably in a manufacturing environment.
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    Cost Analyst • San Jose, CA, US