POSITION: Cost Accountant
REPORTS TO: Chief Financial Officer
SALARY: Compensation commensurate with education and experience
TERMS OF EMPLOYMENT: Permanent – Full Time
LOCATION: Charlottetown, PE or Remote (preference is PEI)
We are the proud makers of Honibe® natural health products- the only pure solid honey products in the world scientifically proven to retain all of honey’s naturally occurring health benefit.
Island Abbey Food Science is an innovative company that has won global awards for creating patented honey processes.
This role combines cost accounting and corporate financial analysis functions to provide a unique opportunity to develop a well-rounded finance skill set.
- Manage the costing of all products launched by the company and maintain internal costing system including preparation of indicative price quotes for new products.
- Support the continuous improvement of the financial planning, forecasting, and reporting processes to enhance efficiency and quality.
- Contribute to the implementation of new corporate ERP system.
- Update and maintain standard costs and rate models
- Analysis of production variances, planned material prices, standard production activity rates, and overhead allocation rates.
- Coordinate updates to planned material prices, production activity rates, and overhead allocation rates in finance system
- Participate in the budget/forecast processes by calculating planned costs, and performing required analysis
- Review inventory records regularly to ensure accuracy, perform analysis to reconcile any discrepancies
- Prepare and report monthly on COGs and other assigned KPIs.
- Prepare monthly journal entries for cost and inventory variances.
- Actively participate in the month-end / quarter-end / year-end processes
- Assist with internal/external audits
- Support Operations team with the financial (cost vs benefit) assessment of initiatives, translation of improvements to value, and development of business cases
- Provide timely, accurate and insightful reporting of value associated with planned and actual performance, operational conditions, and commodity prices / foreign exchange rates
- Participate in cash flow forecasting.
- Develop internal presentations to communicate and aid management in business decision making
- Perform market analysis as needed related to price increases, costing exercises and analysis for management.
- Prepare presentation materials related to market, price and cost analysis.
- Completed or working towards CPA designation or equivalent (CA/CMA/CGA)
- 5+ years of experience in the Manufacturing Industry
- Minimum three years relevant financial analysis experience
- Experience with financial modeling using various analytical techniques
- Hands-on experience in financial planning and analysis function
- Ability to execute process changes, and work on data at both macro and micro level
- Adept at articulating clear business drivers and developing alignment to find effective solutions and achieve desired outcomes
- Experience in implementing and managing accounting software and business systems.
Must have proof of eligibility to work in Canada
PHYSICAL ASPECTS OF POSITION (INCLUDES BUT IS NOT LIMITED TO)
This position requires the ability to:
- Sit for an extended period