Cost Analyst Job Description
We're searching for a cost analyst to assist us in auditing our expenses and identifying opportunities to improve cost-efficiency.
You'll be the go-to person for cost analysis and will be tasked with preparing reports to assist management in making better decisions. We'd like you to be well-versed in data and financial analysis, as well as have a keen eye for detail, in order to perform successfully in this position.
Finally, your work will be critical to our attempts to achieve profitability and organisational success.
Cost Analyst Responsibilities
- Collect and evaluate financial information
- Determine standard costs and evaluate differences between standard and actual costs.
- Prepare detailed reports on a regular and ad-hoc basis.
- Assist management in making key cost-benefit decisions (e.g. investments, market growth, pricing changes)
- Create and manage budgets, and also keep track of spending.
- Conduct financial process and transaction audits.
- Changes in procedures or methods should be tracked to determine the impact on total expenses.
- Calculate the costs of existing and new items.
- Process, labour, and inventory expenses are forecasted and analysed.
- Propose cost-cutting or profit-generating alternatives.
- Conduct market research to inform future company decisions.
Cost Analyst Requirements
- Proven experience as a cost analyst, cost expert, or other comparable position
- Strong analytical skills and knowledge of accounting processes and software
- a bachelor's degree in finance, accounting, or a related field; Certification as a Certified Public Accountant (CPA) is preferred.