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Cost Analyst Job Description

Cost Analyst Job Description

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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 keen sense of business
  • a bachelor's degree in finance, accounting, or a related field; Certification as a Certified Public Accountant (CPA) is preferred.