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Job Details

Senior Cost Accountant

Company name
Itt Cannon .

Irvine, CA, United States

Employment Type

Accounting, Manufacturing

Posted on
Jan 29,2019

Valid Through
May 14,2019

Apply for this job


Job Description:


Perform and maintain cost, margin and profitability analytics necessary to determine site margin and profitability.

Continuous improvement of sustainable processes that ensure data integrity within the finance department and other functional groups within the business.

Manage cost accounting activities and special projects within deadlines as assigned.

Partner with various business functional groups to achieve common business objectives.


· Manage the development and maintenance of the end-to-end process of annual standard cost-roll, including determination of standard hourly labor rates, hourly manufacturing overhead rates, material buy price, freight overhead rates and material handling overhead rates. This also includes performing analytics on changes in inventory revaluation, standard margins, standard cost excess & obsolete impact, manufacturing variance changes, gross profit changes and other business impacts related to the annual cost-roll process.

· Determine material buy-price for annual standard cost-roll and establish guidelines for setting material buy-price through collaboration with Purchasing Team. Manage and perform year-over-year impact analysis and determine carry-over of gross material savings.

· Prepare, report and analyze the monthly product line reporting on orders, sales and margin. Identify out of norm margin or low margin scenario.

· Perform Excess and Obsolete reserve analytics and partner with functional group to minimize EO impact and changes in excess and obsolete reserve.

· Prepare and analyze monthly forecasting, annual planning & budgeting of manufacturing variances, orders, sales and margins. Collaborate with business operations department to determine monthly waterfall shipments on orders.

· Oversee, plan, lead and support inventory validation through physical inventory, cycle count, WIP validation to ensure inventory accuracy and existence at both plants.

· Act as SME for Operations and provide manufacturing variance reporting to include scrap, rework, job close variance, labor efficiency percentages, Purchase Price Variance, margin outlook, etc.

· Partner, Lead and support functional team for ongoing projects, upcoming manufacturing foot prints, and business opportunities including margin review on new customer proposal, analysis on in house cost versus outsourcing cost, capital expenditure ROI, productivity improvement, inventory reduction efforts and key business metrics measurements.

· Participate in weekly review meetings as liaison between FRC Shared Services and ITT Cannon for “net working capital” initiative and inventory turns improvement.

· Prepare and submit government contract cost & price data proposals, including CAS/FAR/SF1411 submittals. Act as SME for all government audits to ensure proposed rates are supportable. Partner with front-end team and strategize to win bids.

· Perform month-end journal entries and ensure timely month-end closing and reporting.

· Review, update and ensure that all SOX controls and compliance are up to date and partner with functional team to validate that controls are effective as needed. Support both internal and external audit requirements.

· Involvement in system enhancement and perform user acceptance testing for migration to production environment

· Identify financial process improvement/reporting by partnering with business operations and IT department.

This position requires visibility to controlled documents.




ITT Cannon


United States

EEO Statement:

“ITT Inc. is an Equal Opportunity/Affirmative Action employer and all qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other characteristic protected by law.”

Minimum Education Requirements:

BS/BA Degree or Equivalent

Paid Relocation Available?:


Percent of Travel Required:

Less than 25%

Position Title:

Senior Cost Accountant

Skills and Experience:


· Bachelor’s Degree in Accounting/or Finance/or Business Management/ or related field

· 2 year’s SAP experience or similar ERP system

· 3 year’s Cost Accounting experience in a manufacturing environment at a senior level or higher

· Must have advanced proficiency in Excel, Access, SQL query and other reporting tools

· Ability to organize workload and manage multiple projects in a dynamic and fast pace environment

· Full understanding of multiple system interface and flow of transactions

· Ability to interact and communicate with various levels in the business

· Proven ability to make sound business decisions based on thorough review of relevant information and data

· Must be a strong team player with an excellent work ethic

· Self-motivated, and takes initiative to improve productivity

· Excellent in problem solving with strong analytical skills

· Able to work independently with minimal supervision

· Excellent in both oral and written communication


· 1 year of government costing experience, including SF1411 submission

Work Location:

CA, Irvine

Company info

Itt Cannon .
Website :

Company Profile
ITT Interconnect Solutions is an international manufacturer and supplier of connectors including circular, rectangular, fiber optic, RF, power and high voltage, audio, PCMCIA, Compact Flash Card, enclosures, cable assemblies, and application specific custom solutions. The Interconnect Solutions portfolio includes the brands Cannon, VEAM, and BIW Connector Systems. Its products include: Connectors and interconnects for the military, aerospace, industrial, oil & gas, medical and transportation markets. ITT Interconnect Solutions is part of ITT Corporation, a diversified leading manufacturer of highly engineered critical components and customized technology solutions.

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